Outlook of the mobile robotics market
Technavio’s market research analysts have predicted the global mobile robotics market to grow stupendously at an impressive CAGR of more than 12% over the forecast period. The increasing adoption of unmanned aerial vehicles (UAVs) in the oil and gas sector is envisaged to contribute significantly to the growth of this market in the coming years. Inspection and surveillance of oil and gas pipelines are dangerous and time-consuming activities and can lead to complete shutting down of the plant, until all the persisting problems are resolved, resulting in massive production and financial losses. Moreover, the lives of plant workers are put at risk for detecting and locating leaks in the oil and gas pipelines. To avoid such disasters, UAVs are increasingly being used to detect the leaks in the oil and gas pipelines. These UAVs can economically survey and inspect thousands of miles of oil and gas pipelines for leaks or spills. Moreover, the UAVs have built-in cameras that take pictures of the pipes and the plants and send the images to remote stations, wherein site engineers make appropriate decisions. Also, UAVs are used for inspecting hard-to-reach places of the offshore oil field, where human reach is restricted.
In this market study, the analysts have estimated factors such as the development of product delivery system using UAVs to contribute to this market’s growth over the predicted period. The increasing preference for online shopping has initiated the need for improving product delivery system. This has encouraged the online retail and e-commerce companies to explore new and innovative ways of delivering products in the fastest possible way. Therefore, companies have started investing in UAVs for delivering products to customers. For instance, Amazon and Walmart have authorized license from FAA to test drone delivery system. As a result, both the companies are testing the feasibility of drone delivery system for commercial purpose, which is expected to aid in the growth of this market in the near future.
Segmentation of type and analysis of the mobile robotics market
- Unmanned ground vehicle (UGV)
- Unmanned aerial vehicle (UAV)
- Unmanned maritime vehicle (UMV)
The UGV segment dominated the market and accounted for nearly 50% of the market share in 2015. The UGV market is driven by the augmented demand from the defense, industrial and healthcare sectors, warehouses, logistics, and oil and gas industries. Therefore, the growing trend of automating applications and activities within the end-user sectors will bolster the growth prospects of this segment by the end of 2020.
Geographical segmentation and analysis of the mobile robotics market
In terms of revenue, APAC is envisaged to dominate the global mobile robots market and reach more than USD 4 billion by the end of 2020. APAC is the leading global manufacturing hub with substantial investments in developing countries. With favorable government legislatures and initiatives, such as Make in India and Made in China 2025, most automotive companies are establishing new facilities equipped with modern technologies to meet the global standards. Therefore, the increasing awareness and integration of robotics technology across APAC countries and rising investments in the manufacturing and defense sectors will bolster this market’s growth prospects in APAC.
Competitive landscape and key vendors
The global mobile robotics market is characterized by the presence of well-diversified international vendors. The competitive environment is expected to increase in product extensions, technological innovations, and an increase in the number of contracts and mergers and acquisitions in this market.
Key vendors in this market are -
- Boeing
- Israel Aerospace Industries (IAI)
- Lockheed Martin
- Northrop Grumman
- Oceaneering
- OMRON Adept Technologies
- SAAB
Other prominent vendors analyzed in this market research report are AeroVironment, Atlas Eleckronik, Bae Systems, Bluefin Robotic, Cobham, DOK-ING, Fugro, GeckoSystems, General Dynamics, Kongsberg Maritime, Parrot, QinetiQ, and Teledyne Technologies.
Key questions answered in the report include
- What will the mobile robotics market size and the growth rate be in 2020?
- What are the key factors driving the global mobile robotics market?
- What are the key mobile robotics market trends impacting the growth of the market?
- What are the challenges to market growth?
- Who are the key vendors in global mobile robotics market?
- What are the market opportunities and threats faced by the vendors in the global mobile robotics market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of global mobile robotics market?
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