LONDON--(BUSINESS WIRE)--The global autonomous mobile robots market size is poised to grow by USD 2.79 billion during 2020-2024, progressing at a CAGR of over 20% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
Autonomous mobile robots offer better ROI compared to traditional systems such as forklifts in both manufacturing and non-manufacturing applications. Autonomous mobile robots are backed with advanced technologies such as machine learning logic, human-machine collaboration, and environmental analysis. They help end-users reduce labor costs and comply with stringent regulations regarding difficult working conditions. Moreover, the drop in the cost of equipment, components such as sensors, and the cost of integration have made them more affordable for end-users. All these factors are increasing the preference for autonomous mobile robots among end-users, thereby driving the market growth.
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- The major autonomous mobile robots market growth came from the aerospace and defense segment in 2019. This is due to an increase in defense budgets by countries across the world.
- North America was the largest market for autonomous mobile robots in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to growing investments in innovation and R&D by the government, private sectors, and academia on the exploration of technology related to surveillance robots.
- The global autonomous mobile robots market is fragmented. BA Systemes SAS, L3Harris Technologies Inc., Lockheed Martin Corp., Midea Group Co. Ltd., Mobile Industrial Robots AS, OMRON Corp., QinetiQ Ltd., Singapore Technologies Engineering Ltd., Thales Group, and The Boeing Co. are some of the major market participants. To help clients improve their market position, this autonomous mobile robots market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global autonomous mobile robots market 2020-2024 is expected to have neutral. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/autonomous-mobile-robots-market-industry-analysis
Miniaturization of sensors will be a key market trend
The growing trend of miniaturization in the electronic industry has reduced the size and cost of sensors, which has subsequently reduced the price of autonomous robots. This has increased the adoption of autonomous mobile robots across various applications such as logistics, delivery, surveillance, and other applications. Therefore, the miniaturization of sensors is expected to positively influence the growth of the global autonomous mobile robots market during the forecast period.
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Autonomous Mobile Robots Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist autonomous mobile robots market growth during the next five years
- Estimation of the autonomous mobile robots market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the autonomous mobile robots market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of autonomous mobile robots market vendors
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- Market ecosystem
- Market characteristics
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Aerospace and defense - Market size and forecast 2019-2024
- Oil and gas - Market size and forecast 2019-2024
- Agriculture and mining - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by End-user
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Volume driver - Demand led growth
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- BA Systemes SAS
- L3Harris Technologies Inc.
- Lockheed Martin Corp.
- Midea Group Co. Ltd.
- Mobile Industrial Robots AS
- OMRON Corp.
- QinetiQ Ltd.
- Singapore Technologies Engineering Ltd.
- Thales Group
- The Boeing Co.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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