03-May-2022 | Zion Market Research
The Autonomous Robot Market was worth around USD 2,819.4 million in 2021 and is estimated to grow to about USD 7,572.5 million by 2028, with a compound annual growth rate (CAGR) of approximately 17.9 percent over the forecast period. The report analyzes the Autonomous Robot Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Autonomous Robot Market.
Autonomous robots are those that are specifically built to counteract their external environment on their own, without the need for human intervention. These robots can make decisions on their own, much like humans. They use various sensors to solve problems without the assistance of humans. They are widely used in a variety of industries, including mining and minerals, oil and gas, medical and healthcare, and others since they improve safety and productivity. One of the major factors driving the growth of the autonomous robot market is the transformation of single-purpose machines into multi-purpose machines and their use in industrial applications such as customer service and engagement, packaging and assembling of parts, and logistics processes, among others. In addition, an increase in R&D, rising manufacturing costs, and increased investment all have a beneficial impact on the autonomous robot market. The growing demand for these robots for automation of industrial processes from start to finish, improving supply chain efficiencies, and automating quality control and testing operations, among other things, is accelerating the growth of the autonomous robot market. The increased integration of artificial intelligence in the field of robotics, as well as the ability of these robots to execute tasks with greater precision, has a positive impact on the autonomous robot market. Furthermore, the increased deployment of Industry 4.0 creates profitable prospects for autonomous robot market participants over the projection period. However, high investment prices and challenges connected to technical correctness and communication protocols in autonomous robots, on the other hand, are likely to stymie the expansion of the autonomous robot market. Concerns about human safety while interacting with robots, as well as an increase in the unemployment rate as a result of robot adoption, is expected to challenge the autonomous robot industry during the forecast period.
The Autonomous Robot Market is segregated based on Type, Battery, and End-use. Based on Type, the global market is distinguished into Goods-to-Person Picking Robots, Self-Driving Forklifts, Autonomous Inventory Robots, and Unmanned Aerial Vehicles. Based on Battery, the global market is distinguished into Lead batteries, Lithium-Ion batteries, Nickel-based batteries, and Others. Based on End-use, the global market is distinguished into Manufacturing (Automotive, Aerospace, Electronics, Chemical, Pharmaceuticals, Plastics, Defense, FMCG, Others), Wholesale & Distribution (E-commerce, Retail Chains/Conveyance Stores, and Others).
North America dominates the autonomous robot market, because of constant technical breakthroughs and rising demand from the region's logistics industry, In addition, due to rising internal and foreign security challenges in the region, as well as increased terrorist activity, the market is expected to grow. Rising labor costs and technological developments are also propelling market expansion in this region. During the forecast period, Asia Pacific is expected to have the fastest rate. The expanding e-commerce business in Asia Pacific's emerging economies is particularly encouraging the use of AMRs for inventory management. AMRs are being used in warehouses by e-commerce companies to automate intralogistics processes such as picking, sorting, and palletizing. Process automation across other industries and industrial verticals will continue to drive the regional market.
Key players functioning in the Autonomous Robot Market include ABB, Bleum, Boston Dynamics, Clearpath Robotics, Inc., GreyOrange, Harvest Automation, IAM Robotics, inVia Robotics, Inc., Kuka AG, Teradyne, Inc.
Browse the full “Autonomous Robot Market By Type (Goods-to-Person Picking Robots, Self-Driving Forklifts, Autonomous Inventory Robots, and Unmanned Aerial Vehicles). By Battery (Lead batteries, Lithium-Ion batteries, Nickel-based batteries, and Others). By End-use (Manufacturing (Automotive, Aerospace, Electronics, Chemical, Pharmaceuticals, Plastics, Defense, FMCG, Others), Wholesale & Distribution (E-commerce, Retail Chains/Conveyance Stores, and Others)).” Report at https://www.zionmarketresearch.com/report/autonomous-robot-market
Autonomous Robot Market is segmented as follows:
By Battery Type
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