Mobile logistics robot market to reach $11.26 billion, globally, by 2025
The mobile logistics robot market is expected to grow at a CAGR of 21.2% from now until 2025, brought about by trends including a rise in demand from e-commerce retailers, increasing use of new warehouse management technologies, and the need to ensure safety of workers at high-risk and hazardous workplaces. A report by Allied Market Research titled "Mobile Logistics Robot Market by Industry Vertical (Healthcare, Factory/Warehouse, Hospitality, and Others) and Function (Pick & Place, Palletizing & DE palletizing, Transportation, and Packaging): Global Opportunity Analysis and Industry Forecast, 2017–2025" states that the global mobile logistics robot market was valued at $2.42 billion in 2017 and is estimated to reach $11.26 billion by 2025, registering a CAGR of 21.2% from 2018 to 2025.
However, high initial acquisition cost and unexpected challenges occurring in untested working environments hamper the growth of the market. Conversely, acceptance of mobile logistics robots in upcoming economies to speed up the delivery and transport processes and the emergence of industry 4.0 into logistics and warehousing offer new corridors of opportunities in the mobile logistics robot market.
Warehouses accounted for more than half of the total market share in 2017 and are likely to continue the lead in terms of revenue during the forecast period. This is due to warehouse robots augmenting the delivery and transportation of manufacturing units without incurring additional cost to the already existing eco-system. However, the hospitality segment is expected to register the highest growth with a CAGR of 24.0% from 2017 to 2025 due to improved capability to perform major task in the hospitality sector such as around delivery. The report also offers insights on healthcare and other industry verticals.
The pick-and-place functionality segment accounted for nearly one-third of the total market share in 2017 and will maintain its leadership status by 2025. This is due to increased productivity through time savings and flexibility. However, the packaging segment is expected to register the highest CAGR of 22.5% from 2017 to 2025, owing to cost-effectiveness, quickness, class, cost-efficiency, and innovation in packaging, especially in pharmaceutical and food and beverage verticals by robots.
North America is expected to grow at the fastest CAGR of 24.4% from 2017 to 2025 due to a surge in automation processes across various business verticals and the need to accelerate the overall operational and manufacturing processes. However, Asia-Pacific holds the major market share, accounting for more than half of the share due to an upsurge in manufacturing units and huge market opportunities for electronic and electric commodities.
Key market players evaluated in the research are Aethon (ST Engineering Ltd.), Asic Robotics AG, Amazon Robotics, Clearpath Robotics Inc., Fetch Robotics, Ink, Greyorange, Kuka AG, Mobile Industrial Robot Aps (Teradyne, Inc.), Omron Adept Technologies, Inc. (Omron Corporation), and Savioke.