Mobile Robotics Market Will Escalate Rapidly in the Near Future

Posted by Sakshi Mishra on January 15th, 2020

In upcoming years, the global mobile robotics market is prognosticated to show an intense competition among the players. The journey of market players to gain a more prominent market share has got them to a circumstance where a move by a single player will prompt a response from others as well. R&D activities are anticipated to play an important role in the success of the market companies. This is on the grounds that the market for mobile robotics is versatile to new advancements and innovations that facilitate the stream of work. The major players, for example, Alibaba, Amazon, and JD.com are foreseen to come neck and neck with one another, along these lines, escalating the market competition. Another reason expected to strengthen the challenge is the demand in marketing made by the main players. The section of new players into the market will likewise up the focused inclination of the market. The significant players are working on selling items at high prices and offer utility to the purchasers. Moreover, most of the products have similar performance and functionality, the competition levels are foreseen to surge heights. Other major market players include John Deere, Boeing Co., Seegrid Corp., FANUC Corp., and Savioke.

According to recent research report by Transparency Market Research (TMR), the global mobile robotics market is likely to expand at a steady CAGR of 15.60% within the forecast period from 2017 to 2026. The global mobile robotics market in 2016 was valued around worth US.58 bn. By the end of forecast period the market is likely to reach around US.96 bn.

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Unmanned Ground Vehicle to Lead in Terms of Product Type

On the basis of types, the global market for mobile robotics is categorized as unmanned aerial vehicles, unmanned ground vehicles, autonomous underwater vehicles, and unmanned surface vehicles. Among these, unmanned ground vehicles segment is leading the global mobile robotics market and are likely to experience constant surge in demand in the forthcoming years. This is attributed to increased use of mobile bots in defense industry to carry out difficult and dangerous missions. Geographically, in 2016, Asia Pacific accounting for a share of 32.20% of the market led the global mobile robotics market. This is credited to the rising investment in logistics and defense industry which is foreseen to fuel mobile robotics market in the region.

Increased Demand for Mobile Robotics Fuels Market Growth

With the surging requirement for mobile robotics for industrial purpose to improve work environment proficiency, the global mobile robotics market is enlisting a noteworthy advancement in its valuation and size. These mobile robots can move inside the processing plants without altering the manufacturing plant format and they can likewise autonomously re-plan their courses to keep away from hindrances, which make them very viable in the setup of factory. Inferable from these variables, organizations are incited to deliver mobile robots in their plants, which is thinking about substantial offers of mobile robotics.