Growing usage of autonomous delivery robots in the e-commerce industry is thriving the global delivery robot market. The COVID-19 pandemic has positively impacted the market. The Asia Pacific market is likely to lead the market in the near future.
NEW YORK, Nov. 1, 2021 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Delivery Robot Market by Load Handling Capacity (Up to 10 KG, 10 KG to 50 KG, and More Than 50 KG), Number of Wheels (3 Wheels, 4 Wheels, and 6 Wheels), End-user (Healthcare, Food & Beverages, Retail, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021-2028".
The Global Delivery Robot Market is expected to garner $2,405.1 million by 2028, growing at a CAGR of 17.8% from 2021 to 2028. The report delivers comprehensive insights into the current condition and future prospective of the industry by meticulously examining market drivers and restraints, opportunities, major segments, and regions.
Impact of the COVID-19 Pandemic on the Global Delivery Robot Market:
The COVID-19 pandemic has made a positive impact on the growth of the global delivery robot market in 2020. In the pandemic period, the demand for transport and food delivery has boosted significantly. However, the need for contactless delivery has restricted the involvement of human workers in delivery processes. This has boosted the need for robotic delivery across the globe, which is fueling the growth of the market in the pandemic period.
Key Segment Findings of the Global Delivery Robot Market:
The market is segmented based on load handling capacity, number of wheels, end-user, and region.
The up to 10 kg sub-segment of the load handling capacity segment is anticipated to hold maximum share of the market and collect a revenue of $1,105.5 million in the estimated period. This growth is mainly because of the growing demand for the delivery of small products in various sectors including food, e-commerce, and healthcare.
The 6 wheels' sub-segment of the number of wheels' segment is anticipated to hold highest share of the market and garner $1,137.4 million in the estimated period. This growth is mainly because local governments in the developed countries like North America and Europe are greatly adopting new technologies related to the delivery sector.
The retail sub-segment of the end-user segment is anticipated to hold maximum share of the market and collect a revenue of $835.3 million in the estimated period. This growth is mainly because of the growing development of the e-commerce industry worldwide, which has fueled the demand for delivery options in the logistics sector.
Among region, the Asia Pacific Delivery Robot Market is projected to observe fastest growth and hit $669.8 million in the projected period. The growth of this region market is mostly owing to the growing adoption of delivery robots by key e-commerce and logistics companies in this region.
The key factor fueling the growth of the global delivery robot market is a significant rise in the adoption of robotics technology in the e-commerce industry across the world. In addition, increasing implementation of technologies like machine learning and artificial intelligence (AI) in the delivery robots is expected to open doors to innovative opportunities for the market growth in the projected period. However, stringent regulatory permissions for the delivery robots about their weight limits, speed limits, and rules about operations is projected to obstruct the market growth during the forecast period.
Numerous business strategies, such as acquisitions, mergers, R&D activities, new product developments, and much more, are implemented by these players to attain a strong position in the global market. For instance, in April 2020, Starship Technologies, an Estonian company developing small self-driving robotic delivery vehicles, announced that it is providing its autonomous robots to many cities as the demand for contactless delivery increases amidst the COVID-19 pandemic.
Moreover, the report offers other key details of leading players such as business tactics, financial performance, and product/service range of these players along with Porter's five forces analysis and SWOT analysis
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