Considering the enormous traction, the market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that the global autonomous robots market is projected to garner exponential accruals by 2023, registering a staggering CAGR throughout the forecast period (2018 – 2023).
Autonomous Robots, as the name suggest, can perform tasks independently without the requirement any human interference by manipulating objects in their environment to achieve specific goals. With the rapid technological advancements in the field, the number of applications of autonomous robots in manufacturing and production processes is continually growing.
As a result, the autonomous robots market is growing continually. The increasing trend of automation in production and manufacturing processes has sped up the development of autonomous industrial robots. Moreover, growing applications and adoption of autonomous warehouse and logistics industry vertical are escalating the market on the global platform.
Additional factors that are contributing to the growth of the market include the increasing need for unmanned vehicles in military and space and the recent trend of using autonomous robots for food delivery.
On the flipside, factors such as government regulations and security concerns related to autonomous robots are restricting the growth of the market. In the current scenario, machines have been progressing on a path from being entirely manual for having a fixed automatic function to becoming intelligent where they can deal with real-world situations themselves.
The North American region heading with the huge technological advancement in robotics dominates the global autonomous robots market. Additionally, factors such as increasing demand for autonomous robots from the logistics industry and increasing focus on enhancing UAV communication capabilities, especially in the defense sector drive the growth of the regional market. The US accounts for not only the leading market in the region but also the largest revenue generator in the global autonomous robots market.
Additionally, factors such as the massive spending on growing military UAV activities and growing applications of UAVs have opened up a big market for autonomous robots. Moreover, the presence of major robotic players in the US has been helping the regional market to become more dominating as compared to other regions.
The autonomous robots market in the Asia Pacific region accounts for the second-largest market, globally. Rapidly emerging countries in the APAC such as India and China are increasingly investing in commercial and military UAV activities. India has the maximum potential to grow during the forecast period. Furthermore, factors such as the rapid economic growth increased R&D activities, and the demand for new autonomous technology from the burgeoning sectors such as automotive and aircraft are propelling the regional market.
European autonomous robots market has been emerging as a promising market, globally. European countries are initiating on transforming regulations towards the usage of UAVs in commercial applications which have led to the expansion of the autonomous robots market in the region. Moreover, increasing activities of R&D, modifications of manned & unmanned military aircraft, and weapons systems are some of the key factors acting as major tailwinds to the growth of the market.
For the better understanding of the report, the autonomous robots market size is segmented into four key dynamics:
By Mode: Autonomous (semi-autonomous & fully autonomous) and Human-operated (tethered and un-tethered.)
By End-user: Aerospace & Defense, Forest & Agriculture, Oil & Gas, Industrial & Manufacturing, Power & Energy, Logistics & Warehouse, and Mining & Minerals among others.
By Mobile Product: Unmanned Ground Vehicle, Unmanned Aerial Vehicle, and Unmanned Marine Vehicle among others.
By Regions: North America, Europe, Asia Pacific, and Rest-of-the-World.
Global Autonomous Robots Market - Competitive Analysis
Highly competitive, the autonomous robots market appears to be fragmented due to the presence of several well-established players. These players incorporate strategic initiatives such as acquisition, collaboration, partnership, expansion, and product/ technology launch in order to maintain their positions and to gain a competitive advantage in this market.
These players focus on new product development initiatives and geographical expansion. The global autonomous robots market is anticipated to witness relentless innovations and development of new products eventually result in intense competition among the manufacturers.
Key players leading the global autonomous robots market Aviation Industry Corporation of China, Ltd., Aethon Inc (US), Bluefin Robotics (US), Clearpath Robotics Inc. (Canada), Cimcorp Automation, Ltd.(US), Fetch Robotics, Inc. (US), Hi Tech Robotics Systemz Ltd. (India), Gecko Systems Intl. Corp. (US), Locus Robotics (US), SAAB (Sweden), Oceaneering International, Inc. (US), Seegrid Corporation (US), Mobile Industrial Robots Ap (Denmark), Vecna Technologies, Inc. (US), and SMP Robotics (US) among others.
Industry/ Innovation/ Related News
May 06, 2019 ---– Microsoft Corporation (the US), a technology giant launched a new platform for building autonomous robots. After acquiring AI start-up Bonsai, which specialized in reinforcement learning for autonomous systems, Microsoft launched the limited preview of a new Azure-based platform which would help developers train the models necessary to power these autonomous physical systems.
This new platform combines Microsoft’s machine learning and tools for machine teaching with simulation tools for training the models in a realistic and safe environment. A number of company’s IoT services and its open-source Robot Operating System can be used.
May 21, 2019 ----- Ford Motor Company announced that it is working with Agility Logistics (Kuwait) to develop a last-mile delivery solution that combines Ford’s autonomous vehicles and Agility’s Digit bipedal robot. Although the system is in the early stages of development, an autonomous delivery test program is scheduled to begin in early 2020.
Ford says that it is a big deal for them to be making this type of move and a big deal to be making firm decisions about what the robots are being used for.