The mobile robots market is expected to grow from USD 18.7 billion in 2018 to USD 54.1 billion by 2023, at a CAGR of 23.71% during the forecast period. The high adoption of robots for personal use, such as companionship and entertainment is the key factor driving the growth of the mobile robots market. Increasing demand of automated ground vehicles (AGVs) for warehouse automation is another driving factor of for the market.
The mobile robots market is highly competitive owing to the presence of a large 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, collaborations, contracts, agreements, expansions, and acquisitions. Many market players adopted product launches as the key business strategy. For instance, in September 2018, iRobot announced the launch of Roomba i7+, a robot vacuum that not only remembers a home’s floor plan and cleans rooms but also automatically empties itself. Apart from this, players have also adopted partnership and collaboration strategies to enhance their products. For instance, in August 2018, DJI partnered with LINE FRIENDS (Japan), a subsidiary of Naver Corporation (South Korea). With this partnership, DJI plans to manufacture drones with sticker characters for making drone technology more fun and attractive to audience.
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KUKA is working toward changing the global perception to industrial production. The company is striving to bring in the robotic revolution by trying to develop a mobile, sensitive, and safe robot-based automation solution. For instance, KUKA Mobile Robotics (KMR) IIWA robots offered by the company have features such as autonomous navigation, flexibility and maneuverability, utmost precision, and simple operator control. The company is planning to dominate the mobile robots market by collaborating with cloud platform providers. For instance, in April 2017, KUKA collaborated with SAP SE (Germany) to integrate KUKA robots and SAP Cloud Platform to help companies’ KUKA robots evaluate predictive maintenance scenarios in their factories and monitor factory floors easily.
SoftBank conducts investment activities to set up new businesses. In 2012, SoftBank entered into the robotics market through the acquisition of Aldebaran Robotics (France) for USD ~100 million. SoftBank Robotics, a subsidiary of the SoftBank Group, changed the brand name “Aldebaran” to “SoftBank Robotics” to increase global brand awareness and business scale. Owing to this, Aldebaran Robotics (France) was renamed to SoftBank Robotics Europe, resulting in the change of names of other related subsidiaries accordingly. In line with this, Aldebaran Robotics (US) and Aldebaran Robotics (China) were renamed to SoftBank Robotics America and SoftBank Robotics China Trading, respectively. The company has adopted acquisitions as its key growth strategy to strengthen its position in the mobile robots market. For instance, in June 2017, the group entered into an agreement to acquire Boston Dynamics (US) and Schaft (Japan).
Mobile Robots Market by Operating Environment (Aerial, Ground, and Marine), Component (Control System, Sensors), Type (Professional and Personal & Domestic Robots), Application (Domestic, Military, Logistics, Field), and Geography - Global Forecast 2023
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