Mobile Robots Market Size, Share, Growth Analysis, By Offering(Hardware, Software & Services), Type(Industrial Robots (Autonomous Mobile Robot, AGV, Others), Personal & Domestic Robots), Payload, Application, and Region - Industry Forecast 2024-2031

Mobile robots market size was valued at USD 16.5 billion in 2022 and is poised to grow from USD 20.31 billion in 2023 to USD 107.1 billion by 2031, growing at a CAGR of 23.1% during the forecast period (2024-2031). 

The increasing popularity of mobile robots in hospital environments, home uses and related areas combined with technological improvements in robotics is expected to fuel this market's growth. Robotics have seen a massive rise in its demand with the onset of augmented reality, deep learning, artificial intelligence (AI), and others. The global demography with limited workers, people living alone, or elderly population generates the need for companion robots, service robots and others. 

The government initiatives are further supporting research and development in this field. For instance, in 2023, Brain Corp has announced that they have achieved a milestone in autonomous robotics and appointed Chris Lobdell as Chief Revenue Officer. Brain has deployed around 30,000 robots to BrainOS robotics platform in different segments like autonomous vacuuming, autonomous inventory scanning, and autonomous floor scrubbing. Furthermore, Brain Corp’s OEM partners have deployed around 5700 robots across 265 customers globally. 

Some of the new technologies that have evolved over the years and integrated into these mobile robots are artificial intelligence, machine learning, computer sight and sensing technologies. Such achievements have initiated the manufacture of enhanced and versatile robots that are competent enough to work under different situations and conditions. Some key sectors which contribute largely into mobile robots include manufacturing industries, logistics, healthcare, security, agriculture and retail. Industrial mobile robotics is used in manufacturing and logistics sectors such as in material handling, organizing warehouse, and managing stock. In healthcare, it is used for services that include healthcare service in patient treatment, administration of medicine, and sanitization. The organizations are seeking mobile robots to reduce costs and increase output, productivity and safety. The options are expensive in terms of labor which is influenced when the general cost of living is high like GDP growth, investments in mobile robot technology, and labor costs all go far to influence the adoption in the developing economies.