Global Delivery Robot Market to Witness a Progressive Growth by 2028 due to the Growing Popularity of Online Shopping
A delivery robot is an automated robot capable of bringing numerous deliveries directly at your doorstep. These robots are not humanoid robots and hence don’t walk or interact but instead, they operate in a six-wheel container, delivering varied items. They are extremely cost-effective for the consumers and clients, and are also likely to experience lower traffic congestion. They are extensively used for commercial delivery purposes.
Forecast Analysis of the Global Delivery Robot Market
The demand for online shopping among people across the globing is surging at a rapid pace, and hence the e-commerce industry is booming. In order to meet the rising need for logistics and reduction in delivery expenses, automated delivery robots are extensively utilized in the e-commerce industry. This factor is expected to drive the growth of the global delivery robot market during the forecast period 2021-2028. In addition, adoption of modern technologies like AI and machine learning in the delivery robot sector is expected to further expected to create ample opportunities for the growth of the market during the forecast period. However, stringent regulatory restrictions on the operation of delivery robots are expected to impede the growth of the delivery robot market during the forecast period.
According to the report published by Research Dive, the global delivery robot market is expected to generate a revenue of be $2,405.1 million by 2028, growing expeditiously at a CAGR of 17.8% during the forecast period 2021-2028.
The prominent players of the market include Panasonic Corporation, Amazon.com, Inc., Aethon, Cleveron, JD.com, Postmates Inc., Starship Technologies, Nuro Inc., Savioke Inc., Boston Dynamics Inc., and many more.
The key companies operating in the industry are adopting various growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, which is subsequently helping the global delivery robot market to grow exponentially.
For instance, in February 2021, DoorDash, a US-based food delivery company, acquired Chowbotics, an innovative start-up company, in order to expand DoorDash’s prevalent menu offerings and extend the company’s customer base into a new market.
In August 2021, Kiwibot, a creative robotic sidewalk delivery startup, collaborated with Sodexo, a food services and facilities management giant, in order to provide food delivery robots to various campuses in the United States of America.
In November 2020, Ocado, a UK-based online grocery store acquired Kindred Systems, a San Francisco-based innovative robotics company, and Haddington Dynamics, an advanced research and development company focusing on low-cost, ultra-precision motion control for robotics, in order to tackle Ocado’s problems concerning the picking and packing of groceries, and hence drive automation.
Most Profitable Region
The North America region is expected to dominate the market, and generate a revenue of $811.0 million during the forecast period. Tremendous prevalence of research and development activities on delivery robots in this region is expected to drive the growth of the market. In addition, massive presence of prominent manufacturers of the market is expected to bolster the growth of the regional delivery robot market.
COVID-19 Impact on the Delivery Robot Market
The outbreak of coronavirus has had a positive impact on the growth of the global delivery robot market, owing to the prevalence of lockdowns in various countries across the globe. There is a rising demand for transportations and food delivery robots in the food industry in order to maintain imperative safety standards to curb the spread of the virus. Normal employees would have a risk of virus contraction; hence the delivery robots became a secure and seamless way for running operations during the pandemic.
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