Global Delivery Robot Market Is Anticipated to Generate a Revenue of $2,405.1 Million, Growing at a CAGR of 17.8% from 2021 to 2028Download Sample Reports Overview
The global delivery robots market size is projected to be valued at $2,405.1 million by 2028, surging from $656.6 million in 2020, at a noteworthy CAGR of 17.8%.
Analysis of COVID-19 Impact on the Delivery Robot Market
The Covid-19 impact on delivery robot market industry has been positive. During the Covid-19 pandemic the sectors such as e-commerce, healthcare, food delivery, and others experience the need for contactless delivery of grocery, medicines, and packaged food to prevent the spread of the Covid-19 virus, aiding the growth of the delivery robot market.
Moreover, the companies operating in the production of delivery robots are adopting strategies such as acquisition and partnerships to gain major market share during the pandemic period. Such factors are predicted to positively impact the global delivery robot’s market. For instance, in April 2020, in a partnership between the UNIDO Investment and Technology Promotion Office (ITPO) in Shanghai and the Beijing-based White Rhino Auto, robotic delivery vehicles were deployed to work at Wuhan’s Guanghua Field Hospital to help with COVID-19 emergency. These factors are expected to positively impact the market during the Covid-19 pandemic.
Global Delivery Robot Analysis
The increasing adoption of delivery robots in sectors such as healthcare, hospitality, and food delivery industries is anticipated to aid the growth of the delivery robot market in the forecast period. The food and hospitality industries are utilizing the delivery robots for contactless delivery in the local address and hotels for customers. In new developments, for instance, in April 2021, Domino’s, the largest pizza company in the world, and Noro, the leading self-driving delivery company, made a partnership and launched autonomous pizza delivery in Houston USA. These factors are expected to contribute to the growth of global delivery robots market size.
The lack of required public infrastructure in the underdeveloped countries such as African nations and some developing countries can hamper the growth of this market. Along with this, the lack of feasibility of the delivery robot manufacturers for cost of operation in the developing countries can act as a restricting factor in the growth of the market in the forecast period.
The new innovations in the delivery robot sector by the utilization of technologies such as machine learning and motion control technology by utilizing sensors, starship robot, artificial intelligence, and others are expected to open new scope of opportunities for the growth of the delivery robot market .For instance, in April 2021,US based company, Kiwibot, headquartered in San Francisco Bay, launched Next-Generation Robot 4.0, the delivery robot is equipped with high-tech sensors to detect people, traffic lights, vehicles, and take decisions in path planning and obstacle avoidance. These factors are expected to open new scope of opportunities for the delivery robot market in the forecast period.
Global Delivery Robot Market, Segmentation
The global delivery robot is segmented based on load handling capacity, number of wheels end-user, and region.
Load Handling Capacity:
The load handling capacity segment is further classified in to up to 10 kg, 10 kg to 50 kg, and more than 50.00 kg. Among these, up to 10 kg sub-segment is expected to have the largest market share and surpass $1,105.5 million by 2028, with an increase from $303.8 million in 2020.
The new development in the sub-segment of delivery robots having a load handling capacity up to 10 kg includes, for instance, in July 2021, Russia based firm, Yandex Self-Driving Group, a unit of Yandex, made a partnership with food delivery service Grub Hub to be its multi-year robotic delivery provider across American college campuses. Yandex has targeted to provide its services to over 250 campuses. This development shows the rapid growth of small size delivery robots, aiding the growth of this sub-segment.
Number of Wheels:
The number of wheels segment is further classified in to3 wheels, 4 wheels, and 6 wheels. Among these, 6 wheels sub-segment is anticipated to be the dominating sub-segment in the forecast period and surpass $1,137.4 million by 2028, with an increase from $313.6 million in 2020.
The increasing need for large sized delivery robots with greater speed and stability along with higher weight handling capacity while deployment in roads is expected to aid the growth of 6-wheel robots in the forecast period.
The end-user segment is further divided into healthcare, food & beverages, retail, and others. The healthcare sub-segment is projected to have the fastest market growth in the global market and register a revenue of $539.6 million during the forecast timeframe of 2021-2028. The delivery robots are being deployed in the hospital premises for supplying medical goods safely without contamination and also to deliver the medicines from the pharmaceutical companies to the patients’ homes. This has resulted in increase in the utilization of medical robots in the healthcare sector. These factors are expected to aid the growth of this sub-segment.
The delivery robot for the Asia-Pacific region generated a revenue of $177.0 million in 2020 and is further projected to reach up to $669.8.8 million by 2028. The emerging economies in the region such as China, India, Vietnam, and others are experiencing a rapid growth in the demand by the e-commerce, healthcare, and retail sectors for delivery robots as it is an efficient mode of safe and cost-effective last mile delivery. These factors are expected to aid the growth of delivery robot market in the region.
Key Players in the Global Delivery Robot Market
Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.
- Panasonic Corporation
- Amazon.com, Inc.
- Postmates Inc.
- Boston Dynamics, Inc.
- Starship Technologies
- Nuro, Inc.
- Savioke Inc.
Porter’s Five Forces Analysis for the Global Delivery Robot Market:
- Bargaining Power of Suppliers: There are moderate number of suppliers in the delivery robot market. Across the world there are different organizations working in the field of delivery robots for manufacturing products such as AI guided delivery robots, coop robot delivery, nuro driverless delivery, and autonomous delivery robot to get a competitive edge in the market.
Thus, the bargaining power suppliers is moderate.
- Bargaining Power of Buyers: The buyers in market have moderate bargaining power, as the delivery robot market technology is new and is in development stage. The buyers have to choose the products from the existing companies supplying delivery robots.
Thus, the bargaining power of the buyers is moderate.
- Threat of New Entrants: The delivery robots’ market is in the growth stage, so many companies are expected to launch their products in the forecast period..
Thus, the threat of the new entrants is high.
- Threat of Substitutes: There are substitutes such as autonomous delivery vehicles.
Thus, the threat of substitutes is moderate.
- Competitive Rivalry in the Market: There is a highly competitive rivalry between companies in the delivery robot market, includingAmazon.com, Inc, and JD.com.
Therefore, competitive rivalry in the market is high.