New York, USA, Aug. 01, 2022 (GLOBE NEWSWIRE) — According to the newly released report by Research Dive, the global delivery robot market is is expected to grow at a steady CAGR of 17.8%, generating revenue of $2,405.1 million over the period 2021-2028. This holistic report provides a comprehensive overview of the nature of the delivery robots market including its key characteristics such as growth drivers, growth opportunities, restraints, and barriers during the period 2021-2028. The report also contains all the necessary and essential market figures to help new entrants get an insight into how the market works.
Drivers: Since the inception of robot technology, there has been a gradual integration of robot technology and the e-commerce industry, and over the years robotics has been increasingly used by this industry. As a result, the delivery robot market is expected to witness substantial growth over the forecast period. Moreover, increasing adoption of advanced technologies such as artificial intelligence is expected to drive the market over the forecast period.
Opportunities: The massive growth and expansion of the e-commerce industry is expected to provide ample growth opportunities to the market over the forecast period. Moreover, the development of advanced technologies such as machine learning is expected to augment the market growth rate in the coming period.
Constraints: However, high regulatory restrictions might prove to be a hindrance to the growth trajectory of the delivery robot market.
Get Exclusive Sample PDF of Global Delivery Robots Market (Including Tables, TOC, and Figures)
Impact of Covid-19 on the market
The novel coronavirus pandemic and resulting lockdowns have negatively impacted many industries by hampering both supply-side and demand-side supply chains. However, despite these challenges, the delivery robot market has witnessed growth during the pandemic years. The growth in demand for delivery robots to maintain safety standards, especially in the food industry, has been the main reason for the expansion of this market during the pandemic years.
The report has divided the delivery robot market into certain segments based on load capacity, number of wheels, end user and region.
Load handling capacity: sub-segment up to 10 kg to be the most dominant
According to load handling capacity, the up to 10 kg sub-segment is expected to have the most dominant market share and generate a revenue of $1,105.5 million by 2028. Growing adoption of robots to deliver small food, e-commerce and healthcare industry products is expected to be the main growth driver of the market over the forecast period.
Number of wheels: the 6-wheel sub-segment will be the most profitable
By number of wheels, the 6-wheeler sub-segment is expected to have the highest market share and generate revenue of $1,137.4 million by 2028. The encouragement from governments in the Americas region North and Europe to adopt these types of robots is expected to have a positive impact on the growth rate of this sub-segment in the coming period.
Learn about the post-COVID-19 impacts on the global delivery robot market. Contact our expert analyst for more details
End User: Retail sub-segment will be the most lucrative
Per end-user, the retail sub-segment is expected to generate the largest revenue and collect USD 835.3 million by 2028. Massive growth in the global e-commerce industry has led to an increase in demand of delivery robots, especially from the logistics market to deliver retail goods. This is expected to become the main growth driver for the sub-segment over the forecast period.
Region: North America region market will have the highest market share
According to regional analysis, the Delivery Robots Market in North America Region is expected to generate maximum revenue and is projected to reach USD 811.0 Million by 2028. North America Region is one of the most developed regions of the world and has an infrastructure suitable for the appropriate deployment of robots. . Additionally, the majority of the research and development taking place in the robotics industry is done in the North America region. These two factors are estimated to play a huge role in the growth of the market in this region.
Main market players
Some prominent players in the delivery robot market are
- Boston Dynamics, Inc.
- Amazon.com, Inc.
- spacecraft technologies
- Nuro, Inc.
- Postmates Inc.
- Savioke, Inc.
- Panasonic Company
These companies come up with various innovations using different business strategies such as acquisitions, mergers, and collaborations to gain a prominent position in the market.
For example, in December 2021, Delhivery, an Indian logistics service provider, announced the acquisition of Transition Robotics Inc., a California-based unmanned aerial systems platform developer. This acquisition will help Delhivery, the acquiring company, to significantly consolidate its market position in the years to come.
Finally, this report published by Research Dive also summarizes many crucial aspects of the Delivery Robots market including latest strategic developments, SWOT analysis, financial performance of key players, and product portfolio.
Region: North America region has a lucrative growth rate (availability customization)
Learn more about Global Delivery Robots Market: