A new study by MarketsandMarkets expects the delivery robot market to grow from $11.9 million in 2018 to $34.0 million by 2024, at a CAGR of 19.15% during the forecast period. Autonomous delivery robots are primarily useful for food & beverages, retail, hospitality, and healthcare industries. Because of this, the companies developing delivery robots have been receiving funding from venture firms. Another driver for the delivery robot market includes the reduction in last-mile delivery costs.
According to the new market research report "Delivery Robots Market by Load Carrying Capacity (Up to 10, 10.01-50.00, and More than 50 kg), Component (LiDAR Sensors, Control Systems), Number of Wheels (3, 4, and 6), End-User Industry (Food & Beverages, Retail), and Geography - Global Forecast 2024," the market for robots with load-carrying capacity of up to 10.00 kg is expected to grow at the highest CAGR during 2018-2024. Robots with a load carrying capacity of up to 10.00 kg are mainly adopted by local restaurants for the delivery of food parcels and beverages to consumers. As these robots weigh around 25 kg, they are capable of carrying limited weight and adopted to deliver products in a shorter range. The existing challenge of traffic congestion that restricts the easy movement of autonomous vehicles puts limitations on the dimensions of robots. Because of this, the growth of the market for delivery robots with a load-carrying capacity of up to 10.00 kg is driven by their small form factor.