Global Self Driving Robots Market To Witness CAGR Of 10% By 2025
Posted On February 05, 2019
As per Value Market Research, the Global Self Driving Robots Market was valued USD 5.78 BN (by revenue) in 2018. The report expects the market to showcase a high CAGR of close to 10% between 2019 and 2025 and close at USD 11.25 BN by 2025. The report closely studies the market understanding the market size, market forecast, growth trends and latest development in the industry.
Self-driving robots are intelligent robots that are inbuilt with self-guidance technology to perform various logistics-related tasks, without human intervention. Without any guidance, these robots are controlled and maneuvered with the help of embedded sensors and microcontrollers. Besides, self-driving robots can be used in the delivering food items, emails, and packages across the logistics industry.
The report "Global Self Driving Robots Market Report By Vehicle (Unmanned Ground Vehicle, Unmanned Aerial Vehicle, and Unmanned Marine Vehicle); By Application (Industrial & Manufacturing, Aerospace & Defense, Oil & Gas, Logistics & Warehouse, Medical & Healthcare, Mining & Minerals, Forest & Agriculture, and Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2018-2025” offers a comprehensive evaluation of the market which includes in-depth qualitative insights, historical data, and verifiable projections about market size.
The advent of the internet of things (IoT) has opened up various opportunities for innovation in technology. Advancement in sensor technology has made human life simpler which has become one of the major driving factors for the self-driving robots market. Moreover, the need for automation and cost-reduction system through the use of less labor-effective techniques have also supported the growth of self-driving robots market. Additionally, rising demand for service robots and industrial automation to cut down the cost is also one of the major driving factors for the self-driving robots market. On the downside, high initial costs and the need for regular maintenance is the only major factor that can pose a hindrance towards the wide-scale adoption of this technology. Nevertheless, rising innovations in terms of both hardware and software and growing applications across various sectors are expected to foster future demand for these products.
The market of self-driving robots has been segmented into vehicle, application, and region. By vehicle, the market has been classified into unmanned ground vehicle, unmanned aerial vehicle, and unmanned marine vehicle. Unmanned Aerial Vehicle is dominating the segment and is likely to maintain its dominance over the forecast timeline. Rising demand from defense and other industry for inspection and monitoring purpose is likely to fuel the segment growth. By application, the market has been categorized into industrial & manufacturing, aerospace & defense, oil & gas, logistics & warehouse, medical & healthcare, mining & minerals, forest & agriculture, and others. Out of which, aerospace and defense are holding the highest share in the market owing to rising demand for automation technology coupled with the need to cut down operational cost and enhance the efficiency in performing routine activities. Regional assessment has been done over North America, Europe, Asia-pacific, Latin America, and the Middle East and Africa. North America is leading the global self-driving robot market and is anticipated to continue on the dominant position in the near future as well. Rising adoption of the autonomous technology in self-driving vehicles and extensive application of self-driving robots in myriad sectors is the key factor behind the dominance of the North America market.
The Report Segments Global Self Driving Robots Market -
- Unmanned Ground Vehicle
- Unmanned Aerial Vehicle
- Unmanned Marine Vehicle
- Industrial & Manufacturing
- Aerospace & Defense
- Oil & Gas
- Logistics & Warehouse
- Medical & Healthcare
- Mining & Minerals
- Forest & Agriculture
- North America
- Latin America
- Middle East and Africa
Players profiled in the Report:
Aethon, Aviation Industry Corporation of China, Bluefin Robotic, Cimcorp Automation, Clearpath Robotics, Fetch Robotics, GeckoSystems, Hi-Tech Robotics Systemz, Locus Robotics, Mobile Industrial Robots, Oceaneering, Omron Adept Technologies, SAAB, Seegrid Corporation, SMP Robotics, and Swisslog & Vecna.
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