The Potential Impact of Delivery Robots Market on Job Losses
According to the report "Delivery Robots Market by Offering (Hardware, Software), Load Carrying Capacity, Number of Wheels (3 wheels, 4 wheels, 6 wheels), Speed Limit, End-user Industry (Food & Beverage, Retail, Healthcare, Postal) and Region - Global Forecast to 2028," the Delivery Robots Market is set to grow from USD 0.4 Billion in 2023 to USD 1.8 Billion by 2028 at a CAGR of 33.7% during the forecast period. The market is expanding as a result of rising startup capital and falling last-mile delivery costs. The expansion of the global e-commerce industry is also anticipated to open up new prospects for the market for delivery robots.
Drivers: Increase in venture funding
One of the factors influencing the market for autonomous delivery robots is the rise in venture capital funding. Due to their superior efficiency and energy savings over conventional electric cars, autonomous delivery robots are a desirable alternative for businesses in the food and beverage, retail, hospitality, and healthcare sectors. Numerous venture capital organisations are providing funding to businesses manufacturing delivery robots, opening up new market prospects. For instance, Starship Technologies, a market leader in autonomous delivery robots, secured USD 42 million in stock in March 2022, raising the company's overall valuation to USD 100 million. NordicNinja and Taavet+Sten co-led this most recent funding round, with existing strategic backers TDK Ventures and Goodyear also taking part.
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Load Bearing Capacity (>50 Kg) Robots to account for a larger market share in 2023
In 2023, it's anticipated that the market share of robots with a load-bearing capability of 50 kg or more would rise. These robots are mostly employed to transport bulky packages and grocery orders placed online. Delivery robots with a large weight carrying capacity of up to 300 kg and 125 kg, respectively, have been created by businesses like JD.com and Nuro. Since they use streets rather than sidewalks to go around, these robots must abide by a lot of rules, which necessitates efficient traffic management. The necessity for robots with a high load-carrying capacity is anticipated to expand as e-commerce demand rises, propelling the market for these robots.
Hardware to hold a majority of the market share during the forecast period
Due to the high cost of components like LiDAR sensors and radars, the hardware segment is anticipated to maintain its dominance over the delivery robots market over the forecast period. LiDAR sensors provide the robot a 360-degree, high-resolution vision of its environment, allowing it to move around securely and avoid impediments. Additionally, the sensors can detect slopes and road signs, making autonomous driving safer and more effective. They are therefore a crucial part of delivery robots and greatly increase the price of these robots' development. The market for delivery robots is predicted to be dominated by hardware due to the high cost of components.
Retail segment to grow at the highest CAGR during the forecast period
Due to the increased demand for last-mile delivery solutions in the e-commerce industry, the retail category is anticipated to develop at the highest CAGR throughout the forecast period in the market for delivery robots. Delivery robots are anticipated to play a large role in this sector because last-mile delivery is the most crucial and expensive part of the entire supply chain. With an expected 300 billion packages to be delivered yearly by 2030 and the e-commerce sector growing at a rate of 8–12% Y-o-Y, there is a sizable potential market for robotic last-mile delivery. The use of delivery robots in the grocery industry is expanding as well. Several firms are using these robots to deliver fresh food to customers' doorsteps, which saves time and money by eliminating the need for human labour. Groceries and other items are being safely delivered from stores to customers using self-driving cars like Nuro (US).
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Market in Asia Pacific to hold significant growth opportunities during the forecast period
The Asia Pacific market for delivery robots is anticipated to expand rapidly over the course of the forecast period, with a CAGR of 36.7% and a market value of USD 430.4 million by 2028. Delivery robots are currently being tested in Japan and Australia, with the former planning to introduce them on public highways in April 2023. The rising awareness of delivery robots' potential to offer efficient and affordable delivery services is credited with the market growth in the area. Asia Pacific market growth is anticipated to be accelerated by the use of delivery robots in the e-commerce sector.
Major vendors in the Delivery Robots market include Starship Technologies (US), JD.com, Inc. (China), Panasonic Holdings Corporation (Japan), Relay Robotics, Inc. (US), and Nuro, Inc. (US)—accounting for about 35–45% market share. Starship Technologies (US), JD.com, Inc. (China), among others.
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