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Global Mobile Robotics Market to Reach $14.2B by 2019
November 18, 2016 | Transparency Market ResearchEstimated reading time: 1 minute
Despite being a niche market, the global mobile robotics industry is growing rapidly. In its new report, Transparency Market Research forecasts the global mobile robotics market to rise at a 12.6% CAGR between 2013 and 2019 and reach $14.2 billion by 2019.
In terms of travelling environment, the segment of unmanned ground vehicles (UGVs) held the top share of 45.5% in the market in 2012. This is due to the rising demand for agricultural robots in applications such as food production, milking, and farming. However, the segment of unmanned aerial vehicles is predicted to experience the most substantial development in the market owing to the rising utilization of drones in civil and defense applications.
There will be high competition in the market due to a number of companies proliferating in the market. Manufacturers in the market are working on customized solutions for enhancing the scalability and integrity of their products.
On the basis of application, the defense and military segment held the most significant share in the market in 2012, though the domestic application segment was the most lucrative segment. The defense and military segment is poised to rise exponentially at a 12.6% CAGR from 2013 to 2019. This is due to the high demand for UAVs in numerous missions such as regional law enforcement, weather determination, surveying, mapping, border surveillance, and military attacks. The defense and military segment was trailed by the segment of warehousing and logistics in the same year.
Geographically, Asia Pacific led the market in 2012 and constituted a share of 34.2%. This is due to the increased implementation of mobile robots in field and domestic applications. This region will witness the most exponential growth and will reach 35.8% by 2019. The North America mobile robotics market trailed and held the second position in the market in the same year. The reasons for the superiority of this region is the utilization of AGVs and UAVs in defense application.
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