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As per Kenneth's Research study, The global mobile logistics robot market was valued at $2,420.7 million in 2017, and is projected to reach $11,269.1 million by 2025, registering a CAGR of 21.2% from 2018 to 2025.
Kenneth Research, in its repository of market research reports, have recently added a report on Global Mobile Logistics Robot Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Mobile Logistics Robot Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global Mobile Logistics Robot Market is valued at approximately USD 3.55 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 21.1% over the forecast period 2020-2027. Mobile logistics robots are a sort of automated machines that enhance the efficiency of logistics operations. The use of mobile logistics robots in logistic networks operates as an efficient alternate to the conventional belt-based transportation system. These robots are intelligent devices integrated with sensors, control systems, manipulators, software, and power supply to execute a task with improved efficiency. The integration of robotics technology in warehouses assisted the industrial sector to endorse that there is high accuracy and automation while expanding the warehouse storage capacity and operational productivity. Further, the mobile logistic robotic are primarily built and setup as per business requirements to reduce the time losses and theft intimidations during industrial operations. This factor makes it higher adoption across the industrial sector all over the world.
Moreover, the rise in adoption of industrial robots worldwide, along with growing need to improve worker's safety are the few factors responsible for the high CAGR of the market during the forecast period. According to the World Robotics Report published by the International Federation of Robotics (IFR) in 2018, more than USD 2.4 million industrial robots were operating in factories around the world. The global sale of industrial robots rose with 31% in 2017 from 2016 (294,300) and reached to 387,000 units. In addition, the International Federation of Robotics estimated that the global shipment of industrial robots is likely to grew almost 63,000 by the year 2021. This, in turn, is likely to strengthen the demand for Mobile Logistics Robot, thereby contributing to the market growth around the world. However, the high initial cost, coupled with the challenges faced during working in untested environments are the few factors restraining the market growth over the forecast period of 2022-2031.
The regional analysis of the global Mobile Logistics Robot market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to the rising government funding for logistics robot, along with the wide presence of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in deployment of industrial robots in manufacturing and transportation facility growing concern towards worker's safety in the developing nations, such as China and India, are the few factors creating a lucrative opportunity for the growth of the Mobile Logistics Robot market in the Asia-Pacific region.
Major market player included in this report are:
Aethon (ST Engineering Ltd)
Asic Robotics AG
Clearpath Robotics Inc.
Fetch Robotics, Ink
Mobile Industrial Robot Aps (Teradyne, Inc.)
Omron Adept Technologies, Inc. (Omron Corporation)
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Industry Vertical:
Pick & Place
Palletizing & De-palletizing
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2022 to 2031
Target Audience of the Global Mobile Logistics Robot Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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