In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Aethon Inc. has announced its entry into the hospitality market by the launch of its new robot. Through this, the company expects to double its revenue by moving into hotels.
Caterpillar Inc. has signed an agreement to acquire Marble, a startup company that makes delivery robots. This acquisition is expected to bring solutions to meet the changing needs of construction, quarry, industrial and waste industries.
Autonomous delivery robots are typically described as powered electric vehicles that also carry goods or deliveries to clients without the assistance of a delivery human. Making use of sensors and navigational technologies, autonomous delivery robots autonomously move around on sidewalks and highways without a driver or other delivery personnel present. There are two different types of autonomous delivery robots. Small enough to fit on a person's foot, sidewalk automated robots only go on footpaths or sidewalks. These robots have been developed and created to deliver various kinds of packages from one place to another. There are couriers, shipments, meals, and other items that must be delivered. The delivery industry has been transformed by autonomous delivery robots.
Base Year |
2022 |
Forecast Year |
2023-2033 |
CAGR |
~35% |
Base Year Market Size (2022) |
~ USD 200 Million |
Forecast Year Market Size (2033) |
~ USD 960 Million |
Regional Scope |
|
The global autonomous delivery robots market is estimated to garner a revenue of ~USD 960 Million by the end of 2033 by growing at a CAGR of ~35% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 200 Million in the year 2022. The primary growth factor that is attributed to the expansion of the autonomous delivery robots market size is the growing preference for online shopping along with the rising demand for faster and contactless deliveries among consumers. In 2021, e-retail sales surpassed almost USD 5 trillion worldwide.
Get more information on this reportDelivery robots are autonomous robots that are highly beneficial to bring deliveries directly to the customer’s doorstep without human intervention in the entire process. Delivery robots are built and put together so they go around people in crowded areas without such a human driver. The increased number of internet users has propelled the population towards online shopping, which, in turn, is expected to increase the demand for autonomous delivery robots in the forecast period. As per a recent report, the number of internet users rose from almost 4 billion in 2018 to 5 billion in 2021.
Increasing Adoption of Robotic Automation Process - Introducing IoT and artificial intelligence in delivering sector for optimizing business operations is anticipated to result in smoother workflows, and increased customer support. As a result, many businesses are expected to incorporate robotics in their functions which are forecasted to be lucrative growth opportunities in the autonomous delivery robots market. For instance, by the end of 2023, more than 30% of operational warehouses are estimated to be supplemented by collaborative robots that increase worker efficiency and reduce operational time.
Growing Marketing Automation – As per a report published, it is revealed that in 2019, more than 50% of companies are using marketing automation and about 55% of B2B companies are planning to adopt the automation technology.
Increased Investments in Robotics – A recent news stated that more than USD 15 billion was invested in robotic startups in 2020.
Rising Number of Internet of Things (IoT) Connected Devices – The number of Internet of Things (IoT) devices present in the world is expected to be around 30 billion by 2030, up from 8 billion in 2018.
Concern Related to High Investments - Road Automatic (or Autonomous) Delivery Robots (RADRs) potentially significantly lower costs in a variety of situations, but they always come at a cost of much more vehicle miles driven per client served. The cost provided by the Out water and Kitchen, excluding labor expenses, is used to calculate the $30/hrs running cost of a RADR. The cost is then increased by 15% to account for the more expensive autonomous vehicle technology.
Low Awareness About Robots in Developing Countries
Absence of High Technology
The autonomous delivery robots market is segmented and analyzed for demand and supply by end users into healthcare, hospitality, retail & logistics, and others. Out of these, the retail & logistics segment is attributed to garner the highest market share by 2033. The increasing trend towards e-commerce and online shopping is expected to drive the growth of the autonomous delivery robots market across all geographies. E-commerce in India is expected to be worth more than USD 150 billion by 2025.
The Asia Pacific autonomous delivery robots market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, on the back of the increasing number of e-shoppers, and a growing number of startups working on the development of autonomous delivery robots in the region. Southeast Asia region was evaluated to add about 60 million online shoppers since the beginning of the coronavirus pandemic. Also, the total number of online shoppers is estimated to reach more than 350 million by the end of 2026.
Our in-depth analysis of the global autonomous delivery robots market includes the following segments:
By Type |
|
By Load Carrying Capacity |
|
By End User |
|
Ans: The major factors driving market growth owing to the growing affordability and return on investment on infrastructure-light robots, and continued growth in the e-commerce industry.
Ans: The market is anticipated to attain a CAGR of ~35% over the forecast period, i.e., 2023 – 2033.
Ans: The low awareness about robots in developing countries along with absence of high technology and rising concern related to high investments are expected to hamper the market growth.
Ans: The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are Marble Robot Inc., Aethon Inc., Aitonomi AG, Nuro Inc., Boston Dynamics Inc., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by type, load carrying capacity, end user, and by region.
Ans: The retail & logistics segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Submit Your Request For Proposal (RFP)
Submit RFP Buy Now Download Research Report Sample