Mobile Robotics Market gaining big growth in the coming years, market worth
Posted by Satr Martin on February 6th, 2018
“Mobile Robotics Market: Global Demand Analysis & Opportunity Outlook 2024”
Mobile robots are the automatic machines which are capable of performing various tasks according to their configurations. The principle activities of mobile robots are mapping, navigation, localization, perception, and locomotion. These robots are widely used by different sectors such as entertainment industry, healthcare, military, mining, automotive and others. Mobile robots are equipped with advance technology which includes cameras, sensors, and others.
Global mobile robotics market is expected to register a CAGR of 10.1% over the forecast period. Moreover, the global mobile robotics market is projected to expand at USD 20.8 billion globally by the end of 2024. The market of mobile robotics is expanding on the back of wide scale application in numerous sectors such as logistics and warehouse, painting and de painting, automotive industry and others.
Commercial segment by mode is projected to witness a considerable CAGR during the forecast period. Moreover, Asia-Pacific region accounted the largest market share in mobile robotics captured 34% of the overall mobile robotic market by revenue. In addition to this, mobile robotics market in Asia-Pacific region is expanding due to rapid industrialization accompanied by increasing manufacturing activities. Apart from this, Asia-Pacific region is most lucrative market across the globe owing to emerging economies such as India and China.
Favorable government initiatives
Increasing investment by government to build the defense sector is envisioned to foster the growth of mobile robotics market. Moreover, heavy adoption of mobile robotics for border surveillance by major countries is also positively impacting the growth of mobile robotics market by 2024. Further, rise in per capita income of the developing and developed nations such as U.S., China and others coupled with increasing focus to improve their defense infrastructure is predicted to bolster the growth of mobile robotics market.
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Technological advancement in robots
Rising per capita income in the developing nations and rising awareness regarding its usage in agriculture practices, border surveillance, and law enforcement are believed to be the dynamic factors behind the growth of mobile robotics market. Further, wide adoption of mobile robots across different industry for logistic purposes is also expected to boost the demand for mobile robots across the globe.
On the contrary, high initial investment associated with the installation of mobile robotics is anticipated to dampen the growth of global mobile robotic market by 2024. Further, high maintenance cost of mobile robot is also anticipated to restrain the market of mobile robotics across the globe.
The report titled “Mobile Robotics Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global mobile robotic market in terms of market segmentation by product type, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global mobile robotic market which includes company profiling of iRobot Corporation, KUKA AG, Bossa Nova Robotics, Bluefin Robotics Corporation, Adept Technology, Inc, John Deere, Gecko Systems Intl. Corp, Seegrid Corp., ECA Robotics and Bluefin Robo. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global mobile robotic market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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About the AuthorSatr Martin
Joined: December 4th, 2017
Articles Posted: 159
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