Delivery robots market projected to grow at 20 percent a year
The delivery robots market is expected to grow from $11.9 billion in 2018 to $34 billion by 2024, at an annual growth rate of 19.15 percent, according to ReportLinker.
Much of the demand will come from the e-commerce sector, according to the researcher.
There are numerous giant online retailers in the global market, along with the emerging ones.
Even some giant offline retailers are going online because people all over the world have started preferring online shopping owing to the huge discount and smooth delivery at their doorstep.
The introduction of autonomous delivery robots in e-commerce will not only give customers greater convenience at a lower cost but also significantly alter the competitive landscape.
Hence, the reduction in costs of last-mile deliveries is one of the key factors driving market growth.
However, stringent regulations pertaining to operations of delivery robots act as a key restraining factor for the market growth.
Owing to technological advancements, robot manufacturers have started integrating data analytics platforms, such as big data analysis and predictive analysis, into the robotic system.
With the help of the software, a delivery robot can perform various tasks, such as route mapping and navigation, dynamic path planning, and obstacle identification.
The fast growth of the market for software can also be attributed to the increased demand for delivery robots with auto navigation and autonomous decision-making capabilities.
Six-wheeled delivery robots can run on different types of terrain in a balanced way.
In APAC, countries such as India and China will opt for 6-wheeled delivery robots, which would be widely used for the delivery of food items and beverages.
Most of the 6-wheeled delivery robot manufacturers offer a delivery robot with all-wheel drive capability.
This feature allows the robot to handle the toughest and steepest hill with an ability to drive 20 miles in a single charge, and these robots are costlier than 4-wheeled delivery robots, which is the key factor fueling the growth of the market for 6-wheeled delivery robots.
North America to dominate the delivery robots market in 2018
North America is expected to hold the largest share of the delivery robots market in 2018.
The dominance of North America can be attributed to the increasing demand for delivery robots in the retail industry and growing labor charges for last-mile deliveries.
Apart from the retail industry, the delivery robots have also been adopted for delivering food items and beverages to the university and corporate campuses specifically in the US, which also is one of the key driving factors for the delivery robots market in North America.
Further, restrictions on using drones for delivery applications create a growth opportunity for the delivery robots market in the region.
In the process of determining and verifying the market size for several segments and subsegments gathered through the secondary research, extensive primary interviews have been conducted with key industry experts in the delivery robots marketspace.
The report profiles key players in the delivery robots market with their respective market ranking analysis.
Prominent delivery robot companies profiled in the report include:
- Starship Technologies (US);
- JD.com (China);
- Panasonic System Solutions Asia Pacific (Singapore);
- Savioke (US);
- Nuro (US);
- Amazon Robotics (US);
- Robby Technologies (US);
- Boston Dynamics (US);
- Robomart (US);
- Eliport (Spain);
- Dispatch (US);
- Piaggio Fast Forward (US);
- Marble (US);
- TeleRetail (Switzerland);
- BoxBot (US); and
- Kiwi Campus (US).
The report categorizes the global delivery robots market on the basis of load carrying capacity, component, number of wheels, speed limit, end-user industry, and geography.
ReportLinker also looks at the major drivers, restraints, challenges, and opportunities pertaining to the delivery robots market and forecasts the same till 2024.