Autonomous Mobile Robots Market to Surpass $10,979 Million Value by 2030
- Published: January 2023
The global autonomous mobile robots market is projected to generate USD 10,979 million revenue by 2030, advancing at a CAGR of 16.9% during 2022–2030. This will be due to the rising demand for automation solutions and growing e-commerce industry.
Due to the rising internet penetration and increasing use of smartphones, online shopping is trending among customers. Owing to this, the e-commerce industry is growing rapidly across the globe. Due to the growing e-commerce sales, particularly in China and India, there is an increasing demand for improving efficiency at order fulfillment centers and warehouses. To meet the growing demand for e-commerce deliveries, as well as of shipments to brick-and-mortar stores and for other traditional supply chain uses, warehouses and fulfillment centers are increasingly investing in AMRs.
The basic idea behind the deployment of various types of robots at e-commerce warehouses is reducing labor expenses and improving productivity. At these spaces, AMRs are used for picking, moving, sorting, and other applications.
As a result of the difficulties caused by COVID-19 and its associated lockdowns, many businesses turned to robots, to help them handle the pandemic's hurdles. In comparison to traditional human work, robotic and autonomous systems provide inherent immunity to viruses because of the difficulty of disease-causing microorganisms to pass between humans and robots.
From a technical standpoint, enterprises have begun to deploy robots to deal with the current challenges brought on by COVID-19, enhancing efficiency within specialized businesses, and continuing vital social functions. Moreover, the IEEE Foundation has financed numerous robotics projects in response to COVID-19, particularly in developing countries.
Hospitality Applications To Witness Fastest Expansion
The hospitality sector is predicted to grow the fastest in the autonomous mobile robots market in the forecast period, with a CAGR of more than 23%. A part of the reason robots have become a prominent technological trend in the hospitality sector is that concepts such as automation and self-service are becoming an increasingly important aspect for gauging the customer experience. The usage of robots has the potential to improve speed, cost-effectiveness, and even accuracy. For instance, chatbots, enable a hotel or travel firm to give 24/7 support via online chat or instant messaging systems, even when the staff is unavailable, thus resulting in incredibly fast response times. Meanwhile, a robot deployed for the check-in procedure can expedite the process and reduce congestion.
Additionally, robotic assistants are rapidly being used in airports and hotels, revolutionizing the entire hospitality business. These assistants can perform a variety of activities, including room service and information provision. One significant advantage is that robots can support a wide range of languages. In addition, some travel agencies are exploring the use of robots, particularly for pre-qualifying customers. Amadeus, for example, has experimented with a robot powered by artificial intelligence, named 1A-TA. Rather than making consumers wait during peak times, the robot can get right to work, learning about their requirements and preferences and relaying that information to a human travel agent when they speak with them.
Moreover, APAC held the largest share in the market in 2022. This is attributable to the expanding public and private investments in the tech sector, thriving e-commerce business, and implementation of autonomous logistical platforms in manufacturing plants. Furthermore, the burgeoning e-commerce business has resulted in more-sophisticated logistics and supply chain networks, thus providing prospects for AMR expansion.
The major players operating in the global autonomous mobile robots market are AAI Corporation, BAE Systems Plc, Cobham plc, General Atomics Aeronautical Systems Inc., 6 River Systems Inc., Fetch Robotics Inc., OMRON Corporation, inVia Robotics Inc., Geekplus Technology Co. Ltd., and Grey Orange Pte. Ltd.