NEW YORK, July 18, 2023 /PRNewswire/ -- The autonomous mobile robots market value will reach USD 10,979 million by 2030 from USD 3,148 million in 2022, at a 16.90% CAGR, as per P&S Intelligence. The industry advance is fueled by the growing requirement for the robotization of factory operations and the developing e-commerce sector.
Service Demand Is Growing at Significant Pace
In 2022, the service category had a significant revenue share, ascribed to the high demand for the installation of autonomous mobile robots, aftermarket components, and consulting and training services.
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Firms including Fetch Robotics Inc., OMRON Corporation, and KUKA AG provide the robot-as-a-service ownership model. This has increased the acceptance of autonomous mobile robots in the manufacturing and logistics industries, as this model decreases the overall price substantially.
In 2022, the robotic systems category had the second-largest market share, with UGVs being the most-widely used kind of system. This is because of the installation of such robots for logistics and field expedition purposes.
Need for Factory Automation Solutions Is on the Rise
The market is majorly driven by the growing demand for factory automation solutions. This is because of the availability of fewer laborers, snowballing concentration on augmented productivity, and mounting difficulties in manufacturing operations.
Similarly, logistical hubs and warehouses require autonomous mobile robots for cargo transportation and storage. In emerging economies, such as India and China, businesses are progressively concentrating on robotization solutions to tackle labor shortages and advance the quality of the products, to compete on the global level.
Therefore, in 2022, the logistics end user category held the largest revenue share, of approximately 29%. Such machines are mainly installed for transporting purposes within a storage facility, hence allowing for real-time inventory management. This ultimately helps in reducing the overall expenses on logistics and supply chain management.
As per the International Federation of Robotics, more than 5 million autonomous mobile robots are projected to be deployed at approximately 60,000 warehouses throughout the world by 2025.
APAC To Experience Growth at Significant Pace
APAC is set to experience significant market growth, of roughly 18.2%, in the coming few years, as Japan, South Korea, and China are the key users of such robots.
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Moreover, because of several government steps for fast-tracking automation in the manufacturing industry, the need for AMRs is growing throughout the region, mainly in India, Indonesia, China, and Thailand.
Agricultural Applications Key Opportunity for AMR Suppliers
Agriculture could be a lucrative target area for the manufacturers and sellers of AMRs. With the expanding food demand amidst the diminishing farming area, farmers are increasingly automating their processes. AMRs could be used for gathering crop data, which is why companies are creating models that can easily travel across orchards, plantations, and rice and wheat fields.
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