Revolutionizing Logistics: The Delivery Robots Market Rapid Expansion
The Delivery Robots Market is expected to experience significant expansion, according to the most recent market research analysis. It is anticipated to rise from USD 0.4 billion in 2023 to USD 1.8 billion by 2028, with a remarkable compound annual growth rate (CAGR) of 33.7% over the course of the projection period.
The market for delivery robots is expanding significantly, and a number of important factors are behind this development. The increase in venture investment is one of the main motivators. Investors are putting money into businesses that operate in this industry as they realise the potential of delivery robots. The market for delivery robots is expanding as a result of this infusion of cash, which supports research and development, technological breakthroughs, and market expansion.
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.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=263997316
Hardware to hold a majority of the market share during the forecast period
Throughout the anticipated period, the hardware segment is anticipated to rule the market for delivery robots. A substantial market share of over 70% was held by hardware in 2022. This dominance can be linked to the high cost of the LiDAR sensors and radars used in the design and development of delivery robots.
LiDAR sensors are essential to how delivery robots operate. They give the robot detailed, three-dimensional information about its environment, enabling it to recognise and find people and objects with accuracy. The sensors also measure these objects' speed and trajectory, which helps the onboard computer system choose the most efficient and secure path for the autonomous delivery van. LiDAR sensors provide the robot a 360-degree field of view, allowing it to recognise driveable regions, avoid obstructions, maintain lanes, change lanes when needed, and handle slopes.
Retail segment to grow at the highest CAGR during the forecast period
In the market for delivery robots, the retail sector is predicted to develop at the fastest compound annual growth rate (CAGR). The retail industry's growing use of delivery robots, particularly for e-commerce applications, is the main driver of this increase.
Transporting items from a distribution centre to their final destination is known as last-mile delivery, and it is a crucial and expensive step in the supply chain, particularly for e-commerce businesses. An effective and affordable solution for last-mile deliveries is provided by delivery robots. The need for last-mile delivery robots is predicted to increase alongside the e-commerce sector's consistent growth at a rate of 8–12% annually.
Applications utilising delivery robots for last-mile delivery have a substantial market potential. The estimated yearly delivery of 300 billion items by 2030 emphasises the significant possibility for delivery robots in the retail industry.
In order to save consumers' time and effort when shopping for fresh food, a number of businesses have developed the idea of doorstep grocery delivery. The use of delivery robots for supermarket delivery guarantees the delivery of high-quality goods while also providing convenience at a low cost.
Browse For More Details - https://www.marketsandmarkets.com/Market-Reports/delivery-robot-market-263997316.html
Market in Asia Pacific to hold significant growth opportunities during the forecast period
During the projected period, the Asia Pacific region offers the market for delivery robots with considerable potential opportunities. By 2028, it is anticipated to have grown at the highest compound annual growth rate (CAGR), of 36.7%, to reach a value of USD 430.4 million.
Robotic delivery systems are being tested and used in nations like Australia and Japan. For instance, the amended road traffic regulation in Japan will permit autonomous delivery robots to operate on public highways beginning in April 2023, according to a press release from THE JAPAN TIMES LTD. published in January 2023. In Japan's residential and commercial sectors, tests for robot deliveries of food and essentials have also been carried out.
These developments show that delivery robots are becoming more and more popular in the Asia Pacific region. Businesses and customers are becoming more aware of the potential for delivery robots to offer very effective and economical delivery services.
Numerous factors, such as the rising demand for efficient and automated delivery solutions, the ongoing developments in robotics technology, and the potential cost savings provided by delivery robots, are responsible for the market expansion in Asia Pacific. The industry is anticipated to grow quickly as local companies and logistics providers come to understand the advantages of delivery robots.
News Covered:
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Visit Our Website: https://www.marketsandmarkets.com
Comments
Post a Comment