With the rising demand for mobile robots Market to enhance workplace effectiveness and efficiency, the global mobile robotics market is registering a significant progress in its size and valuation. Mobile robotics is an automatic machine that is capable of locomotion.
The prime activities of the mobile robot are perception, localization, mapping, navigation, and locomotion. Additionally, robots are widely used for transportation, inspection, and surveillance activities, among others. Mobile robots play an important role in various industries such as entertainment industry, mining & metals, electronics & electrical, military service, automotive sectors, and other sectors.
Reducing cost of manpower to foster the global demand
The mobile robot market is anticipated to see a major growth over the forecast period owing to the expansion of automation in manufacturing and warehouse environments to reduce the costs and fill the gap from lack of workers. Nowadays, stationary controlled products are being replaced by intelligent mobile robots in many industries. Moreover, rising labor costs against the AI competition and higher demand for productivity and quality has led to higher adoption, driving the mobile robotics market. The interaction between human and machine is turning into reality and will prove to be of great advantage for venture capital investments and corporate research spending.
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Asia Pacific to dominate the market over the forecast period
Asia Pacific is projected to dominate the global mobile robotics market over the forecast period. Moreover, in 2016, Asia Pacific region accounted for the highest market share with approximately 34% of the overall mobile robotics market. Asia Pacific is witnessed to have a lucrative growth, owing to significant market changes such as rapid industrialization, accompanied by increasing manufacturing activities in this region. China, India, and Japan are the major countries in this region to witness a higher demand. Additionally, increasing adoption of mobile robots by defense and logistic sector in this region is anticipated to bolster the growth of the mobile robotics market.