Autonomous mobile robots, also known as automatic guided vehicles or cobots, are robots capable of operating independently in complex environments and conducting a variety of logistical tasks with minimal human interaction. Powered by sophisticated sensor technology, localization algorithms and fleet management software, autonomous mobile robots can autonomously navigate industrial facilities, warehouses and distribution centers to transport materials, palettes and smaller items between designated locations. They work collaboratively alongside human workers to improve workflow efficiency. Popular types of autonomous mobile robots used in logistics include pallet trucks, tow tractors, unit load carriers and forklifts.
The global Autonomous Mobile Robots market is estimated to be valued at US$ 3.41 billion in 2024 and is expected to exhibit a CAGR of 3.1% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Growing demand for warehouse automation across industries is a major driver behind the increased adoption of autonomous mobile robots for material handling applications.
Market Dynamics:
The Autonomous Mobile Robots market is poised for substantial growth through warehouse automation. One major driver behind this is the increasing labor costs associated with material handling in warehouses and distribution centers. Autonomous mobile robots help optimize workflows and improve productivity by automating routine logistic tasks previously handled by human employees 24/7 without breaks. This allows companies to achieve cost savings from reduced labor expenses over time. Furthermore, robots improve workplace safety by removing humans from hazardous environments involving lifting heavy objects or operating industrial vehicles. Their use minimizes risks of on-site accidents and injuries. The COVID-19 pandemic has also driven increased automation adoption as companies aim to promote social distancing through reduced human interaction during operations. This has further accelerated demand for autonomous mobile robots.
Segment Analysis
The autonomous mobile robots market is dominated by the cobot segment which holds more than 60% share of the overall market. Cobots or collaborative robots are designed to work harmoniously alongside human workers without the need for guarding or additional safety features. These robots assist humans in various industrial processes like material handling, assembling, packaging, etc. by transporting components and performing simple, repetitive tasks. The growing need for automation in warehousing and logistics has propelled the adoption of autonomous mobile robots for material handling applications.
PEST Analysis
Political: Regulations promoting workplace safety and productivity have encouraged the deployment of autonomous mobile robots. Stringent labor laws in countries are also driving the automation of logistic processes using mobile robots.
Economic: Cost savings from replacing human labor with low-cost autonomous mobile robots and gains in operational efficiency are fueling investments in robotic technology. Mobile robots help optimize workflows and boost output.
Social: Younger workforce prefers collaborative tasks over repetitive jobs, boosting demand for autonomous mobile co-bots. Mobile robots raise employment opportunities for higher-value jobs in process supervision and maintenance.
Technological: Advancements in AI, machine vision, sensor fusion, localization and navigation techniques have enhanced the autonomy, safety, and versatility of mobile robots. Further improvements will broaden their applications across industries.
Key Takeaways
The global autonomous mobile robots market share is expected to witness high growth. The global Autonomous Mobile Robots Market is estimated to be valued at US$ 3.41 Mn in 2024 and is expected to exhibit a CAGR of 3.1% over the forecast period 2024 to 2031.
Regional analysis comprises the North American region currently dominates the market due to rapid industrialization and presence of major players in the region. Europe is another major market for autonomous mobile robots owing to growing automation in machinery and automotive industries in Germany, UK and Italy.
Key players operating in the autonomous mobile robots market are Sanofi, Pfizer, Inc., Novartis AG., B. Braun Melsungen AG, Fresenius Medical Care, Medtronic, Preservation Solution Inc., TransMedics, Inc., Organ Recovery Systems, and Transonic Systems Inc. Material handling is the largest application segment, driven by burgeoning e-commerce and swift growth of the warehousing and logistics industries. Autonomous mobile robots help streamline intralogistics workflows and optimize space utilization with their ability to intelligently navigate unstructured environments.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
