The Global market for mobile service robots
is forecast to reach $53.8 billion by 2025, growing at a CAGR of 26.3% from 2020 to 2025. The market growth is attributed to the factors such as technological advancements in robotics, growing application in end user verticals including military and defence, logistics and warehousing, healthcare and others. Moreover improving the working efficiency across industrial sector also leads to increase in demand for robotic system thereby enhancing the market growth of mobile service robots.
- Increasing ageing population across the globe is fuelling the demand for mobile robots and concentrates on designing advance robotics with special functions that could be deployed prominently which in turn boosts the market growth.
- North America region dominated the global mobile service robots market in 2019 owing to the presence of advanced technologies, large number of manufacturers and the increasing domestic and commercial demands for mobile service robots.
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By Product type- Segment Analysis
Unmanned ground vehicle (UGV) product type segment held the highest market share of mobile service robots in 2019. Moreover, it is anticipated to witness the significant market growth during the forecast period 2020-2025. The market growth is due to increasing demand for application in defence and military. Furthermore, rising applications of unmanned ground vehicle (UGV) in the commercial field, such as manufacturing, agriculture, transportation and others is propelling the market growth in the current schenario. In February 2020, the fifth generation Unmanned ground vehicle THeMIS was launched by Milrem Robotics at the Singapore Airshow for supporting territorial-army on the battleground while augmenting their combat efficacy. Such product launches by the manufacturer supports the market growth.
Drivers – Mobile service robots market
- Growing demand for defence and commercial
- Technological advancements
Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the mobile service robots market. As of 2019, the market for Mobile service robots market is consolidated with the top players including Northrop Grumman, Honda Motor, Softbank, iRobot, DJI, Lockheed Martin, Kongsberg Maritime, KUKA, Bluefin Robotics, Samsung Electronics, GeckoSystems, and among others.
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