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Global Mobile Robotics Market to Witness High Growth Potential
September 20, 2019 | Business WireEstimated reading time: 1 minute
Global mobile robotics market possesses high growth potential, owing to increased adoption of mobile robotics in the healthcare, military & defense, and entertainment industries. In addition, increase in R&D investments by key players to deploy enhanced specifications in the product portfolio fuels the growth of the market. Companies are projected to indulge in mergers, collaborations, and partnerships to make the most use of technology, which is further projected to propel the market growth.
Factors such as increase in need for safety for human life and rise in demand of mobile robotics from online retailers, are expected to drive the growth of the market in the future. However, high initial acquisition cost and challenges faced by mobile robots while working in untested environments act as major barriers and hamper the market growth. On the contrary, factors such as emergence of industry 4.0 into logistics & warehousing and surge in adoption of mobile robotics in the agricultural sector are expected to offer lucrative opportunities for the market globally.
The key players profiled in the report include Kuka AG, Honda Motor Co., Ltd., Northrop Grumman Corporation, iRobot Corporation, Lockheed Martin Corporation, Softbank Robotics, Amazon Robotics, Kongsberg Maritime, UBTECH Robotics, Inc., and Boston Dynamics. These key players have adopted strategies such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.
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