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Self-Driving Robots Market to Encounter Countless Growth Opportunities
June 10, 2019 | PRNewswireEstimated reading time: 1 minute
Global self-driving robots market is estimated to expand at a substantial CAGR in the forecast period as the scope, product types, and its applications are increasing across the globe. Self-driving robots are smart robots automatic with self-guidance technology to run errands and complete several logistics-related tasks, self-governing of explicit human intervention.
Factors such as increasing demand of automation from industrial and manufacturing segment to offer ease in process across established regions, rising adoption of IoT and software across all industries, and technological advancement are likely to drive the market in the forthcoming period.
On the other hand, high initial prices and the need for steady maintenance are anticipated to hinder market growth in the future. However, rising demand for service robots and industrial automation to decrease price is likely to create lucrative opportunities for the market. Self-driving robots' market may be explored by type, application, and geography market of self-driving robots' may be explored by type as self-driving robots with SLAM and self-driving without robots.
This market could be explored based on the application as Material Transportation, Food Delivery, Mail & Packages Delivery, Retail Delivery & Transportation, Domestic & Personal Use, Emergency Services, Military Uses, and Others. Self-driving robots' market could be explored based on the end user as Manufacturing, Logistics, Communication, Retail, Construction, Space Technologies, and Others.
Self-driving robots' market is categorized based on geography into North America, Latin America, Japan, Middle East, and Africa, Western Europe, Asia Pacific, and Eastern Europe. Europe is a leading region in the market. It is likely to maintain its dominance in the forecast period owing to factors, such as technological advancement, and industrial automation and robotics corporations are increasing. Europe is closely followed by the North American region.
Leading players operating in the self-driving robots' market include Omron Adept, Swiss log (KUKA), Vecna, Clear path Robotics, SMP Robotics, Mobile Industrial Robots, Cimcorp Automation, Locus Robotics, Aethon, Hi-Tech Robotic Systems, Fetch Robotics. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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