Autonomous Mobile Robot Market Size (2024 - 2029)

Autonomous Mobile Robot Market Analysis

The Autonomous Mobile Robot Market size is estimated at USD 3.88 billion in 2024, and is expected to reach USD 8.02 billion by 2029, growing at a CAGR of 15.60% during the forecast period (2024-2029).

• The main drivers of the market are the increasing trend of automation in manufacturing, the development of the e-commerce industry, the mass personalization of goods, and the lack of low-cost labor.
• An essential advantage is an AMR's ability to understand its operating environment, enabling it to navigate through obstacles and operate safely in the presence of human operators. In contrast to an automated guided vehicle that requires some kind of guidance path, such as a magnetic tape or QR code, the AMR can use data from cameras, laser scanners, and other sensors to understand its environment and decide how it should be operated.
• The ideal environment for adopting connected industrial autonomous vehicles in different sectors is being created by increasing robotics, autonomous technology, and Internet of Things development. In addition to the continued adoption of autonomous technologies in consumer vehicles and transport, these vehicles are expected to alter the industrial environment. The market's growth is expected to continue due to this increase in autonomous industrial vehicles.
• Besides labor-related challenges, security is another critical factor in using AMRs for warehouse automation. For example, the Occupational Safety and Health Administration (OSHA) and the US Department of Labor stated that over 11% of forklifts used to carry and transport pallets in a warehouse may be at risk of accidents. Nevertheless, the development of AMRs capable of handling pallet and bulk movements is helping to decrease reliance on forklifts for specific activities; this will bring significant improvements in warehouse safety.
• The initial cost of AMR can be high, mainly if the outcome is assessed on an interim basis. The AGV system is more expensive than hiring personnel or using additional tools such as manual forklifts. In the long run, however, AMR can lead to a positive return on investment (ROI) and increase overall efficiency and productivity, which results in economic benefits.
• In the post-pandemic situation, the popularity of robots-as-a-service (RaaS), a robotic rental option for B2C and B2B companies, has increased. RaaS eliminates the upfront costs associated with installing robots, which need significant expertise and computer capacity. This rental service gives small- and medium-sized businesses more access to AMRs. RaaS allows smaller organizations to take advantage of the flexibility and scalability that AMRs offer. Otherwise, only larger organizations that could afford the installation fees would be able to make use of these advantages.
• Labor automation and the adoption of AMRs again demonstrate their value as the workplace and job seekers' aspirations change after the pandemic. Automating labor or adopting AMRs is one of the most effective ways for businesses to get past labor scarcity difficulties, carry on without concern, and establish business practices that may benefit them and their clients now and in the future through labor automation.

Autonomous Mobile Robot Industry Segmentation

Autonomous robots are intelligent machines that can do real-world tasks without human intervention. Autonomous mobile robots (AMRs) can comprehend and navigate their surroundings without direct human supervision. An autonomous mobile robot navigates utilizing maps generated on-site by its software or facility designs that have been pre-loaded. An autonomous mobile robot uses technology, such as LiDAR sensors and simultaneous localization and mapping (SLAM), to determine the best path between waypoints.

The autonomous mobile robots market is segmented by type (unmanned ground vehicles, humanoids, unmanned aerial vehicles, and unmanned marine vehicles), end-user industry (defense and security, warehouse and logistics, energy and power, automotive, manufacturing, oil and gas, mining and minerals, and other end-user industries), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in terms of value in (USD) for all the above segments.