Delivery Robots Market

Market Leader - Delivery Robots Market

The delivery robots market is expected to grow from USD 11.9 million in 2018 to USD 34.0 million by 2024, at a CAGR of 19.15% during the forecast period. The reduction in last-mile delivery costs due to the adoption of these robots is the key factor driving the growth of the delivery robots market. The increase in venture funding is another driving factor for the market.

The delivery robots market is moderately competitive owing to the presence of a less number of regional and global players. Key strategies adopted by these players to enhance their product portfolios, increase their market share, and expand their presence in the market include product launches, partnerships, and collaborations. Many market players adopted product launches as a key business strategy. For instance, in January 2018, at CES 2018, Robby Technologies launched Robby 2, an all-wheel-drive delivery robot with new features to climb easily, improved travel range (more than 20 miles), and enlarged storage capacity. Apart from this, players have also adopted partnerships and collaborations strategies to grow their businesses. For instance, in August 2018, Kroger, the largest American supermarket chain, entered into a partnership agreement with Nuro to test the concept of driverless home deliveries by distributing grocery to customers at a flat, affordable price of USD 5.95.

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Starship Technologies develops self-driving robotic vehicles to hand over local parcels or groceries directly from stores or hubs to customers. The company opened its first office in Tallinn, Estonia, in December 2014. Other than Estonia, the company has its presence in the UK, Germany, and Switzerland. The robots developed by the company have covered more than 100,000 miles in more than 100 cities of 20 countries in the world, encountering 15 million people along the way. Owing to its high-quality product “Starship Delivery Robot,” the company has managed to gather significant funding from various venture companies. For instance, in June 2018, the company raised the seed capital of USD 25 million, which is likely to be invested in deploying more number of robots in neighborhoods, as well as corporate and university campuses in the US and Europe. The company plans to dominate the delivery robots market by adopting partnership as a key strategy. For instance, the company partnered with Compass Group (UK) on Intuit Inc.’s (US) Mountain View campus to provide a robotic delivery.

JD.com is one of the two big B2C online retailers in China and is a member of the Fortune Global 500. The company reported an increase in the revenue by 40.3% in FY 2017 over FY 2016 (revenue for FY 2017 is USD 55.68 billion, for FY 2016, it is USD 39.69 billion). However, the company incurred a net loss of USD 23.40 million in FY 2017 compared to a net loss of USD 585.09 million in FY 2016. The company has a streamlined supply chain incorporated with technologies such as machine learning, natural language processing, and related computational approaches. JD.com has around 84,790 employees in its delivery function. The introduction of self-driving robots to carry out deliveries can significantly remove the labor expense, thereby enhancing the revenue and limiting the loss. The company plans to capture a larger market share by collaborating with technology providing companies. For instance, in June 2018, the company collaborated with Google (US) for initiating various strategic programs, including joint development of retail solutions in several regions around the world, including Southeast Asia, the US, and Europe.

Related Reports:

Delivery Robots Market by Load Carrying Capacity (Up to 10, 10.01–50.00, and More than 50 kg), Component (LiDAR Sensors, Control Systems), Number of Wheels (3, 4, and 6), End-User Industry (Food & Beverages, Retail), and Geography - Global Forecast 2024

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Report Code
SE 6875
RI Published ON
1/28/2019
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