According to the estimations put forth by Inkwood Research, the Global Autonomous Mobile Robots (AMR) Market is set to project a CAGR of 19.15% in terms of revenue during the forecasting years of 2024-2032.
Autonomous mobile robots (AMR) are capable of understanding and navigating their environment without being directly overseen by an operator. Characteristically, this is achieved by an array of complex onboard maps, sensors, and computers, equipping AMRs to comprehend and interpret their environment.
Increasing Need for Workplace Safety to Reinforce Market Growth
Workplace safety is a significant concern for several companies across high-risk industries such as transportation, warehousing, and manufacturing, especially with the impact of the COVID-19 pandemic. Moreover, as per 72% of manufacturers, collisions, as well as other shop floor accidents, pose a tremendous threat to businesses. According to recent data issued by the Bureau of Labor Statistics (BLS), in 2019, the United States recorded 5,333 fatal occupational injuries, indicating a 3.6% rise compared to 2017 and the highest annual number since 2007. Out of these, 2,122 were transportation incidents, evidently making the transportation division account for the most number of fatalities.Â
In this regard, automated material handling equipment, including autonomous mobile robots (AMRs), visually guided vehicles (VGVs), and automated guided vehicles (AGVs), can substantially minimize the risk of workplace injury and increase equipment longevity, in addition to reducing costs and enhancing efficiency.
Logistics is the Fastest-Growing End-User
The use of AMRs can enhance the efficiency of supply chain and logistics operations of all sizes as compared to a traditionally automated environment. They offer huge advantages for speed, growth, scalability, and efficiency in enhancing floor operations and generating warehouse layout reports. They also address the setbacks of supply chain operations. They operate from a digital map of their environment.Â
Europe has the Highest Revenue Share
The manufacturing sector of the region is dominated by the pharmaceutical, textile, food & beverages, and automotive industries. As a result, several companies are making investments to automate their operations. Also, the thriving e-commerce industry is expected to increase the demand for warehouse robotics. Such aspects offer growth opportunities in the region.
The established players are making substantial investments to expand and enhance their product portfolio to strengthen their position in the market. This is attributed to the high level of industry rivalry. Aethon Inc, Clearpath Robotics, General Atomics Aeronautical Systems Inc, SMP Robotics Systems Corp, etc., are among the leading companies in the market.
Related Reports:
GLOBAL AUTOMATED GUIDED VEHICLE MARKET
GLOBAL UNMANNED AERIAL VEHICLE MARKET
GLOBAL WAREHOUSE MANAGEMENT SYSTEMS MARKET
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