Mobile Robotics Market Expected to Reach $130.9 Billion by 2032

According to a new report published by Allied Market Research, titled, “Mobile Robotics Market,by Application, Product and Component: Global Opportunity Analysis And Industry Forecast, 2023-2032" The mobile robotics market was valued at $16.5 billion in 2022, and is estimated to reach $130.9 billion by 2032, growing at a CAGR of 23.1% from 2023 to 2032.

Mobile robotics is a specialized field within robotics that concentrates on conceiving, developing, and deploying robots capable of autonomous or semi-autonomous movement in diverse settings. These robots possess mobility features, enabling them to navigate and function in dynamic environments, setting them apart from fixed or stationary robots. The primary goal of mobile robotics is to craft intelligent machines capable of executing tasks, interacting with their surroundings, and adapting to changing conditions without constant human involvement.

Mobile robotics is the amalgamation of cutting-edge technologies, including sensors, actuators, artificial intelligence, and control systems. Sensors like cameras, lidar, radar, and ultrasonic devices empower mobile robots to perceive their surroundings and make informed decisions based on the acquired data. Actuators such as motors and wheels facilitate physical movement and manipulation of objects. Mobile robots have diverse applications across various industries, including manufacturing, logistics, healthcare, agriculture, and service sectors. In manufacturing, they streamline tasks such as material handling and assembly, enhancing operational efficiency and precision. In logistics and warehousing, mobile robots contribute to activities like inventory management, order picking, and transportation. Healthcare applications involve tasks such as patient assistance and medication delivery.

Rise of artificial intelligence is pivotal in augmenting the autonomy of mobile robotics market demand for robot mobility. Machine learning algorithms enable autonomous mobile robots to learn from experience, adapt to new environments, and enhance their performance over time. This adaptability is crucial for mobile robotics market analysis to navigate complex and unpredictable surroundings successfully.

The evolution of mobile robotics industry is propelled by ongoing technological advancements, including miniaturization, energy efficiency, and increased computational power. As mobile robots become more sophisticated, versatile, and cost-effective, their scope of applications is anticipated to broaden, fostering increased automation and efficiency across diverse industries.

The mobile robotics market is driven by increasing focus on ensuring human safety and a growing demand for mobile logistics from online retailers with the help of AMR robot. However, challenges such as high initial acquisition costs and complexities in operating in unexplored environments are anticipated to hinder the growth of the robot mobility. Conversely, the introduction of Industry 4.0 in warehousing and logistics, along with a rising adoption of mobile robotics in agriculture, is positioned to offer lucrative opportunities for the mobile robotics market.

The mobile robotics market segmentation is divided into application, product, and component. On the basis of application, the market is divided into logistics and warehousing, military and defense, healthcare, domestic, entertainment, education, agriculture and forestry, and others. In 2022, the logistics and warehousing segment dominated the market, and the domestic segment is expected to acquire a major market share by 2032 owing to increase in use of floor cleaning robots for retail and residential end users.

On the basis of product, the market is categorized into unmanned ground vehicle (UGV), unmanned aerial vehicle (UAV), and autonomous underwater vehicle (AUV). In 2022, the unmanned aerial vehicle (UAV) segment dominated the market, and it is expected to acquire a major market share by 2032 due to increase in investment of government and private companies on public transports, healthcare support, and other vital sectors.

On the basis of component, the market is divided into hardware, software, and support and service. In 2022, the hardware segment dominated the market, and the support and service segment is expected to acquire a major market share by 2032 owing to increase in sales of mobile robotics for various sectors.

Competitive analysis and profiles of the major global Mobile robotics market players that have been provided in the report include Kuka AG., Honda Motor Co., Ltd., Northrop Grumman Corporation, iRobot Corporation, Lockheed Martin Corporation, SoftBank Robotics Holdings, Amazon Robotics, Kongsberg Maritime AS, UBTECH Robotics, Inc., and Boston Dynamics. The key strategy adopted by the major players of the mobile robotics market share by company are acquisition and partnership.

On the basis of region, the mobile robotics market growth projections are analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Spain, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), and Middle East and Africa (Saudi Arabia, Africa, and Rest of Middle East And Africa).

Key Findings of the Study

• On the basis of application, the logistics and warehousing segment dominated the market, and the domestic segment is expected to acquire a major mobile robotics market share by 2032.
• On the basis of product, the unmanned aerial vehicle (UAV) segment dominated the market, and it is expected to acquire a major mobile robotics market size by 2032 due to increase in investment of government and private companies on public transports, healthcare support, and other vital sectors.
• Further, among component, the hardware segment dominated the market, and the support and service segment is expected to acquire a major market share by 2032 owing to increase in sales of mobile robotics for various sectors.
• Region wise, North America region dominated the mobile robotics market in terms of revenue in 2022. Specially US dominate the mobile robotics market size by country in North America region. While, the market in Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.