Autonomous Mobile Robot Market is Set to Experience Revolutionary Growth by 2025
An autonomous robot has a specific set of tasks and behavior. Autonomous robot has the ability to move its part partially or fully without human assistance, work under its design specification. The principle activities of autonomous mobile robots include mapping, navigation, localization, perception, and locomotion. The global autonomous mobile robot market was USD 4.36 billion in 2018 and will reach USD 9.66 by 2025 at a CAGR of 12.03% during the forecast period.
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Growth by Region
North America will be major contributor in the market due to adoption of robotic technology for manufacturing, the development of self-driving cars and usage of autonomous mobile robots for transportation.
Drivers vs Constraints
Advancement in sensors used for navigation and rising dependence on unmanned or military vehicles are key factors for the growth of the market. Growing application of robots in industrial and technical sectors is also driving the market growth. However, high capital requirements for incorporation of these devices is hampering the market growth.
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Industry Trends and Updates
SoftBank Robotics America, Inc. the North American arm of SoftBank Robotics Group announced an enhanced set of features for Pepper, the humanoid robot, including front of office capabilities.
Teradyne, Inc. and the shareholders of Mobile Industrial Robots announced the acquisition of MiR of Odense, for EUR 121 million net of cash acquired plus EUR 101 million if specific performance targets are met extending through 2020
