Mobile robot components market worth $7.4B by 2027
By DE StaffAutomation
Growth fueled by demand for order fulfillment robots, says research analyst report.
A report by market research firm, Interact Analysis, finds that the mobile robot components market will continue its rapid growth out to 2027, reaching a value of $7.4bn with a CAGR of 44.8% over the next 5 years.
Regionally, the US currently dominates the market, but China will become a strong rival, the report says, and is expected to overtake the US in terms of unit sales by 2025, while the US will continue to lead in terms of revenue. By 2027, the report predicts, China will account for over 40% of the components market in terms of units, but the US will still dominate revenues.
According to the firm, the primarily growth driver is demand for order fulfilment robots, dominated by Shelf-to-Person (S2P) robots due to Amazon’s market influence. That dominance will continue as other logistics firms mimic Amazon’s strategy, the company says.
Looking at the market by component type, most types will experience high growth over the forecast period, particularly drivetrain components. By 2027, the market for drivetrain components will reach $4.5bn, partly due to the rapid adoption of mobile robots and partly because of the increase in average selling prices. LiDAR sensors will also dominate the market as navigation sensors become an industry norm.