Autonomous Robot Market To Accrue Nearly US$11,920 Mn By 2024

With the presence of a large pool of participants, the global autonomous robot market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Bluefin Robotic, Omron Adept Technologies, Clearpath Robotics, and Cimcorp Automation are some of the key vendors of autonomous robot across the world. These players across the autonomous robot market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the autonomous robot market study.

Reportedly, in August 2018, grocery behemoth Kroger and autonomous car startup firm Nuro combined launched driverless delivery services in Arizona.

This review is based on a report by Zion Market Research, titled “Autonomous Robot Market by Mode of Operation (Human Operated and Autonomous), by Mobile Product (Unmanned Ground Vehicle, Unmanned Aerial Vehicle, and Unmanned Marine Vehicle); for Application (Industrial & Manufacturing, Aerospace & Defense, Oil & Gas, Logistics & Warehouse, Medical & Healthcare, Mining & Minerals, Forest & Agriculture, and Others) -Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”- Report at https://www.zionmarketresearch.com/report/autonomous-robot-market

As estimated in this report, the global autonomous robot market stood at US$ 4,615 million in 2016. Witnessing a tremendous rise during the period from 2016 to 2024, the revenue in this autonomous robot market is expected to reach US$ 11,920 Mn by the end of the forecast period. The main products available in this autonomous robot market are unmanned ground vehicle, unmanned marine vehicle, and unmanned aerial vehicle. Among the three, the demand for unmanned aerial vehicle is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.

Demand For Improving Work Quality & Productivity To Drive Market Growth

“Growing product demand for performing activities in industries posing threat to human life such as oil & gas, mining, automotive, and defense industries will boost the autonomous robot market growth,” says the author of the study. Apart from this, a strong need for reducing the turnaround period and optimizing quality is anticipated to further succor the autonomous robot market trends within the next few years. Ability to perform myriad operations effectively with minimal human support along with the ability to work in the risk-prone areas has enhanced the popularity of the autonomous robots across various domains.

Autonomous robots offer various benefits such as displaying enhancement in the speed and accuracy in performing routine activities. Furthermore, the use of the product in any firm can minimize the direct as well as indirect operational costs and assist in increasing the revenue of the firm. The aforementioned factors are predicted to contribute considerably towards enlarging the growth of autonomous robot market within the span of next few years.

Massive Product Application In Myriad Areas To Augment Regional Growth

Regionally, North America has been leading the worldwide autonomous robot market and is anticipated to continue on the dominant position in the years to come, states the autonomous robot market study. The adoption of the autonomous technology in self-driving vehicles and extensive application of autonomous robots in myriad sectors is the key factor behind the dominance of the North America autonomous robot market. The high number of market players being headquartered in North America is another significant factor that is supporting this regional autonomous robot market development.

The global autonomous robot market is segmented as follows:

By Mode of Operation

• Human Operated
  • Tethered
  • Untethered
• Autonomous
  • Semi-Autonomous
  • Fully Autonomous

By Product

• Unmanned Ground Vehicle (UGV)
• Unmanned Aerial Vehicle (UAV)
• Unmanned Marine Vehicle (UMV)

By End-User

• Industrial & Manufacturing
• Aerospace & Defense
• Oil & Gas
• Logistics & Warehouse
• Medical & Healthcare
• Mining & Minerals
• Forest & Agriculture
• Power & Energy

By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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