February 21, 2024
Autonomous Mobile Robots Market

Autonomous Mobile Robots Market Propelled by Rising Adoption of Automation in Warehousing

Autonomous mobile robots are programmed machines capable of navigating complex environments without any human help. These robots are pre-programmed using lidar, GPS and other sensors to map out warehouses and efficiently handle material handling tasks like picking, sorting and transportation of goods. The need for autonomous mobile robots has surged with growing focus on automating warehouse operations to streamline material flow and improve productivity.

The global Autonomous Mobile Robots Market is estimated to be valued at US$ 2.96 Bn in 2023 and is expected to exhibit a CAGR of 3.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Rising adoption of automation in warehouses has been a major driver augmenting growth of the autonomous mobile robots market. Automated material handling technologies like mobile robots help improve work efficiency by minimizing errors and achieving faster throughput compared to manual operations. They can work continuously without any breaks, thereby ensuring round-the-clock operations. This has boosted their deployment in distribution centers and warehouses to automate repetitive and tedious tasks.

SWOT Analysis
Strength: Autonomous mobile robots are equipped with advanced technologies such as artificial intelligence, machine learning, LiDAR, and odometry which enable them to navigate autonomously and perform tasks without human intervention. This significantly improves workplace productivity and efficiency.
Weakness: High initial investment costs associated with autonomous mobile robots limits their adoption, especially among small and medium enterprises. Additionally, technical glitches can occur which affects the performance.
Opportunity: Growing need for automation across industries such as healthcare, logistics and warehouse is driving the demand for autonomous mobile robots. Further, development of 5G network infrastructure will boost applications of autonomous mobile robots that require real-time data connectivity.
Threats: Emergence of alternative technologies such as exoskeleton, cobots and drones poses threat to the demand and adoption of autonomous mobile robots. Stringent regulations pertaining to safety, privacy and security of autonomous systems also poses challenges.

Key Takeaways
Global Autonomous Mobile Robots Market is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2023 is projected to be US$ 2.96 Bn registering a CAGR of 3.1% during the forecast period.

Regional analysis-

North America dominates the autonomous mobile robots market currently due to large presence of key manufacturers and early adoption across industries such as healthcare and warehouses. The Asia Pacific region is expected to witness fastest growth owing to increasing labor costs, and government support for adoption of advanced robotics and automation technologies in countries like China and Japan.

Key players operating in the Autonomous Mobile Robots are Sanofi, Pfizer, Inc., Novartis AG., B. Braun Melsungen AG, Fresenius Medical Care, Medtronic, Preservation Solution Inc., TransMedics, Inc., Organ Recovery Systems, and Transonic Systems Inc. These players are focusing on developing innovative solution, and expanding presence across globe through mergers and acquisitions to gain competitive advantage.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it