AGV and AMR Market to cross 2,400,000 installed base of Mobile Robots by 2027 with $18B TAM - LogisticsIQ

NEW DELHI, Feb. 6, 2023 /PRNewswire/ -- As per LogisticsIQ latest market research study, Mobile Robots (AGV and AMR) Market is expected to reach more than 18 Billion by 2027 with a growth rate of around 24% and 43% for AGV and AMR respectively. Both AGVs and AMRs collectively are going to cross the installed base of 2.4 million in 2027 to make the mobile robots a new normal in our day-to-day operational activities.

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Highlights of AGV (Automated Guided Vehicles) and AMR (Autonomous Mobile Robots) Market

• Industry witnessed a good growth despite of pandemic and is supposed to register more than $3 Billion sales in 2021. Around 640,000 mobile robots (AGVs & AMRs) are expected to be shipped in 2027 only with an installed base of 2.4 million
• AMRs are supposed to grow with a CAGR of ~43% between 2022 and 2027 and are going to be more attractive market as compared to AGVs by 2027 with relatively more shipment and TAM share.
• United States, Germany, U.K., China and Japan are going to lead the market with an annual demand of more than 200,000 mobile robots (AGV & AMR) by 2027
• Goods to Person (G2P) and Person to Goods (P2G), both type of AMRs are having their own market with some advantages and disadvantage. It depends on what exactly can be more efficient and cost-effective solution for your existing or new warehouse.
• Piece picking and sortation mobile robots are going to emerge as a new important category with a growth of 45% by 2027, specially in micro-fulfillment space
• China is supposed to be hub for Autonomous Mobile Robots, both in terms of demand and supply as it is expected that Made in China AMRs will be 30%-40% more economical due to labour cost advantages and huge volume consumption in China itself.
• After QR code, LiDAR, Vision Cameras and Sensor Fusions are the key navigation technologies to be commercialized in this space due to flexibility, safety concerns and higher accuracy. Even Sensor Fusion AMRs are expected to grow with ~70% growth rate. There are dedicated companies (Autonomy Service Providers) for navigation technology and software who are supporting mobile robot manufacturers to build such capabilities with the help of AI and Machine Vision.
• Delivery, Retail and Cleaning are the emerging applications to target with an attractive growth of ~35% apart from logistics and manufacturing although absolute market size is relatively low.

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