Autonomous Mobile Robots (AMR) Market Growth and Prospects for Technological Advancement 2022 – Fetch Robotics Inc, GreyOrange Robotics, Verizon
The Autonomous Mobile Robots (AMR) Market size was valued at USD 1.61 Billion in 2021 and is projected to reach USD 22.15 Billion by 2030 growing at a CAGR of 34.3% from 2022 to 2030.
Autonomous mobile robot, also known as auto robot or auto start, is used to pick, transport and sort items in manufacturing and distribution facilities without any manual intervention. It is a form of Automated Guided Vehicle (AGV) that can be implemented without any supporting infrastructure like wires, ground implanted magnets or precisely located laser targets. AMR uses a sophisticated set of sensors and artificial intelligence for path planning and is able to independently navigate its environment. AMRs prevent product damage, improve productivity and reduce labor costs in warehouses and manufacturing facilities.
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The market includes various players such as Peer Robotics, Fetch Robotics Inc, GreyOrange Robotics, Verizon, Clearpath Robotics, Inc., Fetch Robotics, Inc., SMP Robotics, Locus Robotics, Mobile Industrial Robots Aps, and Omron Adept Technologies, Inc. These manufacturers actively engage in R&D initiatives, product and technology innovations, and industry collaborations to improve their product and increase their growth and geographic reach. For example, in February 2021, Verizon entered into an agreement to acquire incubed IT, a software platform creator to manage and optimize mixed fleets of robots in an industrial environment. This strategy would allow them to gain efficiency in their fleets of autonomous mobile robots. Additionally, in July 2021, ABB announced that it had acquired ASTI Mobile Robotics Group. The acquisition would help expand ABB’s robotics and automation offering, making it the only company to offer a comprehensive portfolio for the next generation of flexible automation.
Market dynamics and trends
The demand for autonomous mobile robots is increasing due to the increase in e-commerce activity around the world. Additionally, factors such as increasing warehouse automation and increasing adoption of these robots across many industries owing to their ability to independently navigate dynamic environments are expected to propel the growth of the market. . Additionally, increasing adoption of automated material handling along with trends such as lights-out automation are also factors that are expected to drive the market growth over the forecast period.
However, load size limitations and high cost of implementing an AMR system are expected to limit the market growth to some extent. On the other hand, the increasing use of mobile robots in hospitals to deliver medicines and medical equipment to patient rooms is expected to create lucrative growth opportunities for the autonomous mobile robot market players in the future.
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Market Segmentation and Scope of the Study:
The autonomous mobile robot market has been segmented on the basis of type, application, end use, and geography. Based on type, the market is divided into good-to-person picking robots, autonomous forklifts, autonomous inventory robots and unmanned aerial vehicles. Based on application, the market is divided into sorting, pick & place, towing, warehouse fleet management and other applications. Based on end-user, the market is divided into automotive, electronics, FMCG, logistics, life science, healthcare, education, and others. The geographic breakdown and analysis of each of the aforementioned segments includes regions including North America, Europe, Asia-Pacific and ROW.
The Europe region holds the lion share of the autonomous mobile robot market and is expected to continue dominating the market over the forecast period owing to the growing demand for material handling equipment from various manufacturing industries. Moreover, owing to the massive investments by government bodies to boost the establishment of small factories and the adoption of Industry 4.0, they are expected to boost the market growth in this region.
However, North America is expected to show a steady increase in the autonomous mobile robot market owing to the increase in internal and external security threats in the region and growing terrorist activities. Additionally, rising labor costs and technological advancements are driving the growth of the market in this region. Additionally, the Middle East and Africa is expected to grow at a moderate pace due to the growing infrastructure development in these regions.
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