Mobile Robots Market Size

Mobile Robots Market Analysis

The Mobile Robots Market size is estimated at USD 6.99 billion in 2024, and is expected to reach USD 23.56 billion by 2029, growing at a CAGR of 27.5% during the forecast period (2024-2029).

Due to increased e-commerce activity worldwide, demand for mobile robots is expanding. Due to their capacity to maneuver autonomously in challenging situations, factors such as growing warehouse automation and rising acceptance of these robots across various industries are further projected to drive market expansion. Furthermore, the rising adoption of automated material handling and trends like lights-out automation will likely drive market expansion throughout the projection period.

• The growth in the e-commerce industry and the need for efficient warehousing and inventory management worldwide are driving the market growth. For instance, according to IBEF, the Indian e-commerce market is expected to flourish from USD 38.5 billion in 2017 to USD 200 billion by 2026.
• Factors such as decreasing costs, lower rates of transport, rising customer demand, and globalization of trade have caused a steady increase in the use of containers for sea-borne cargo. Consequently, container terminals have become an important component of logistic networks. It is paramount that ships are unloaded and loaded promptly at the port to satisfy customer demand.
• Mobile Robots are increasingly becoming the popular mode of container transport in seaport terminals. These unmanned vehicles transfer containers between ships and storage locations on land. The efficiency of a container terminal is directly related to the amount of time each vessel spends in the port. Hence, to maintain competitive advantage and increase the efficiency of the container terminal, AGVs are being deployed that formulate good dispatching strategies and simultaneously enhance operational efficiencies.
• With social distancing becoming more common in the workplace, connected solutions and automation assist in continuing daily operations. The use of mobile robots guides work solutions, and computer-controlled equipment has been regarded as necessary by companies in Honeywell's Study. Moreover, warehouse execution software (48 percent ), order-picking technology (46 percent ), and robotic solutions (44 percent ) have been widely implemented solutions currently, which are also most expected to receive further investment soon.
• Wireless communication systems in industrial environments must guarantee that the information is sent and received within precise time bounds. However, the nature of the radio channels and the medium access control (MAC) generates random communication delays. These delays can cause severe performance problems in automated guided vehicles for networked control systems.