Mobile Robot Market Size Forecasted to Reach Valuation of USD 117.89 Billion by 2027

The global mobile robot market is expected to be valued at USD 117.89 Billion by 2027 from USD 23.48 billion in 2019, registering a CAGR of 23.6% through the forecast period. This growth is attributed to surge in adoption of mobile robots especially across manufacturing plants. Additionally, growing inclination toward intelligent technologies including artificial intelligence, mobile robotics, and deep learnings are driving growth of the global mobile robot market.

The widening acceptance for automation and adoption of self-optimizing machinery across factories to obtain improved productivity and operational efficiency are fueling growth of the global mobile robot market. In addition, the manufacturing plants are increasing accepting autonomous mobile robots across manufacturing plants, which ensure workers safety by reducing operational & manufacturing costs. These factors are fueling growth of the global mobile robots market. Further technological advancements in the sensors and cameras improves flexibilities and agility of mobile robots are driving its market growth.

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Key Highlights from the Report

• In October 2019, Northrop Grumman entered in a master research agreement (MRA) Carnegie Mellon University (CMU) through which the organization fosters innovation between the two organizations.
• Based on the product, the Unmanned Ground Vehicles sub-segment accounted for the largest market share of 40.2% in 2019 and is estimated to remain dominant over the forecast period. This growth is attributable to increasing applications of Unmanned Ground Vehicles across the military and defense sectors.
• Based on the application, the domestic sub-segment is estimated to expand with a sizable CAGR of 24.8% over the forecast period. This growth is attributable to the implementation of Artificial Intelligence and the Internet of Things (IoT) for domestic purposes.
• Regionally, the Asia Pacific region dominated the overall mobile robot market and is expected to be the fastest-growing region over the forecast period. This growth is attributed to the factors such as higher penetration of e-commerce channels, growing demand for autonomous mobile robots, and higher adoption of automation from logistics companies.
• Key participants in the mobile robot market include Kuka, Northrop Grumman, iRobot, Softbank Group, Honda Motor, Kongsberg Maritime, Bluefin Robotics Corporation, DJI, Lockheed Martin, and Samsung Electronics.

Emergen Research has segmented the Global Mobile Robot Market on the basis of product, application, and region:

• Product Outlook (Revenue, USD Billion; 2017-2027)
  • Unmanned Aerial Vehicles (UAVs)
  • Unmanned Ground Vehicles (UGVs)
  • Unmanned Surface Vehicles (USVs)
  • Autonomous Underwater Vehicles (AUVs)

• Application Outlook (Revenue, USD Billion; 2017-2027)
  • Warehouse & Logistics
  • Defense & Security
  • Energy & Power
  • Mining and Minerals
  • Automotive
  • Entertainment, Education, and Personnel
  • Domestic
  • Others

• Regional Outlook (Revenue, USD Billion; 2017-2027)
  • North America
    1. U.S.
    2. Canada
  • Europe
    1. Germany
    2. U.K.
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. U.A.E.
    3. Rest of MEA

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https://www.emergenresearch.com/industry-report/mobile-robot-market