In a recent published report, Kenneth Research has updated the market report for Global Mobile Robotics Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions 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) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest 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 Robotics Market products.
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Mobile Robotics Market Overview
Mobile robots are the automatic machines which are capable of performing various tasks according to their configurations. The principle activities of mobile robots are mapping, navigation, localization, perception, and locomotion. These robots are widely used by different sectors such as entertainment industry, healthcare, military, mining, automotive and others. Mobile robots are equipped with advance technology which includes cameras, sensors, and others.
Market Size and Forecast
The global mobile robotic market is expected to grow at a CAGR of 10.1% over the forecast period i.e. 2017-2024. Further, mobile robotic market is anticipated to reach USD 20.8 billion globally by 2024. Likely, growing demand for mobile robotics from defense and health care sector is envisioned to flourish the growth of mobile robotics market across the globe.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
In terms of geography, Asia-Pacific is expected to dominate the global mobile robotics market over the forecast period. Additionally, Asia-Pacific region in 2016 accounted for the highest market share of 34% of the overall mobile robotics market. The region is anticipated to witness significant growth owing to rapid industrialization accompanied by increasing manufacturing activities in this region. The major countries witnessing the demand for mobile robotics include China, India and Japan. Moreover, increasing adoption of mobile robots by defense and logistic sector in this region is believed to foster the growth of mobile robotics market.
Asia-Pacific region is followed by North America and Europe region. North America holds the second largest market of mobile robotics. North America is likely to exhibit high growth avenues with U.S. mobile robotics market. Likely, the growth of mobile robotics in this region is attributed to the rising adoption of mobile robots for the domestic purposes such as for vacuum and floor cleaning, lawn mowing and others. Europe region is projected to show a tremendous growth by the end of 2024. Further, Europe stands as the third largest market owing to the increasing adoption of mobile robots by the healthcare industry. France, Germany and U.K. are the major countries which are leading the Europe region market.
Middle East and Africa region is also projected to fuel the demand for mobile robots over the forecast period owing to the rising awareness regarding its usage in agriculture practices.
The major key players for mobile robotics market are as follows
Bossa Nova Robotics
Bluefin Robotics Corporation
Adept Technology, Inc
Gecko Systems Intl. Corp
Scope and Context
Growth Drivers and Challenges
Rising per capita income in the developing nations and rising awareness regarding its usage in agriculture practices, border surveillance, and law enforcement are believed to be the dynamic factors behind the growth of mobile robotics market. Further, wide adoption of mobile robots across different industry for logistic purposes is also expected to boost the demand for mobile robots across the globe.
Moreover, favorable government initiatives along with increasing investment in defense sector for the adoption of mobile robotics is projected to flourish the growth of mobile robotics market over the forecast period. Further, rapid industrialization and adoption of technologically advanced mobile robots for domestic purposes like cleaning and others are also predicted to expand the market for mobile robotics.
However, high initial investment associated with the installation of mobile robotics is anticipated to dampen the growth of global mobile robotic market over the forecast period. Moreover, high maintenance associated with mobile robotics is expected to hamper the growth of this market.
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Our in-depth analysis segmented the global mobile robotics market in the following segments:
By Product Type
Unmanned Ground Vehicles
Unmanned Aerial Vehicles
Unmanned Surface Vehicles
Autonomous Underwater Vehicles
By End User
Global mobile robotics market is further classified on the basis of region as follows:
North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
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, Future forecast & Opportunity Analysis
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