Mobile Robotics Market is likely to reach around US$30.96 bn

In upcoming years, the global mobile robotics market is prognosticated to show an intense competition among the players. The journey of market players to gain a more prominent market share has got them to a circumstance where a move by a single player will prompt a response from others as well. R&D activities are anticipated to play an important role in the success of the market companies. This is on the grounds that the market for mobile robotics is versatile to new advancements and innovations that facilitate the stream of work.

According to recent research report by Transparency Market Research (TMR), the global mobile robotics market is likely to expand at a steady CAGR of 15.60% within the forecast period from 2017 to 2026. The global mobile robotics market in 2016 was valued around worth US$8.58 bn. By the end of forecast period the market is likely to reach around US$30.96 bn.mobile robotics marketUnmanned Ground Vehicle to Lead in Terms of Product Type

On the basis of types, the global market for mobile robotics is categorized as unmanned aerial vehicles, unmanned ground vehicles, autonomous underwater vehicles, and unmanned surface vehicles. Among these, unmanned ground vehicles segment is leading the global mobile robotics market and are likely to experience constant surge in demand in the forthcoming years. This is attributed to increased use of mobile bots in defense industry to carry out difficult and dangerous missions. Geographically, in 2016, Asia Pacific accounting for a share of 32.20% of the market led the global mobile robotics market. This is credited to the rising investment in logistics and defense industry which is foreseen to fuel mobile robotics market in the region.

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Increased Demand for Mobile Robotics Fuels Market Growth

With the surging requirement for mobile robotics for industrial purpose to improve work environment proficiency, the global mobile robotics market is enlisting a noteworthy advancement in its valuation and size. These mobile robots can move inside the processing plants without altering the manufacturing plant format and they can likewise autonomously re-plan their courses to keep away from hindrances, which make them very viable in the setup of factory. Inferable from these variables, organizations are incited to deliver mobile robots in their plants, which is thinking about substantial offers of mobile robotics.

Ageing Workforce to Hinder Gain in Profitability

Over the coming years, the critical rise in ageing workforce, labor costs, and the increasing demand regarding profitability are estimated to boost the development of the global mobile robotics market. Nevertheless, the high starting expenses may restrict the growth of these robots, which may affect the entire market in the forthcoming years.

The data and information presented is based on the findings of a TMR report, titled “Mobile Robotics Market (Type – Unmanned Ground Vehicles, Unmanned Aerial Vehicles, Unmanned Surface Vehicles, and Autonomous Underwater Vehicles; Application – Industrial and Service) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.”