According to a new market report published by Transparency Market Research "Mobile Robotics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019," the global mobile robotics market was worth USD 6,249.6 million in 2012 and is expected to reach USD 14,202.2 million by 2019, growing at a CAGR of 12.6% from 2013 to 2019. Asia Pacific was the largest market for mobile robotics in 2012.
The growth was primarily driven by increase in usage of mobile robots in domestic, agricultural, medical and industrial applications.
Integration of mobile robots with mobile technologies such as smart phones and other appliances is one of the factors driving the market. Increasing grants and funds by governments to this industry is further fueling the market. In addition, decreasing price of sensors and cameras and availability of open source platforms have resulted in new companies with innovative products at cheap cost, further boosting market. However, longer time to market is one of the factors hindering the market growth.
Among all types, UGVs including AGVS was the largest segment and accounted for 45.5% of the market share in 2012 and is expected to witness highest growth during the forecast period.
UAVs are expected to observe linear growth throughout forecast period. Cost effective wireless data systems and global positioning systems is driving the market for USVs and is expected to continue in a long run.
Mobile robots used in industrial applications including warehousing and distribution accounted substantial market share in 2012. Application of mobile robots in field and defense purposes is driving the market for professional service segment. Increasing demand of domestic robots such as vacuum cleaners and lawn movers are booting the market for personal service segment.
Geographically, Asia Pacific was the largest mobile robotics market and accounted for 34.2% in 2012 and is expected to witness highest growth throughout forecast period. The growth is attributed to increase in demand of UAVs by China, India, South Korea and Pakistan, Thailand, Singapore, Philippines, Taiwan and Australia is boosting this market growth.
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