Global Mobile Robot Charging Station Market - Segmented by Type (Standalone, Multi-Robot), Application (Residential, Commercial, Industrial), and Region - Growth, Trends, and Forecast (2018 - 2023)
The mobile robot charging station market is expected to register a CAGR of 12.1%, during the forecast period (2018 - 2023).
Mobile robots are autonomous robots programmed to function on a fixed path and to perform redundant functions in the industrial, as well as the commercial space. They help address the rising inefficiency concerns in the industries, with governments across the globe encouraging their deployment. The increasing number of robots demands a rise in the number of charging stations, which is estimated to be the primary driving factor propelling the growth of the mobile robot charging station market. However, the market is still evolving and gain considerable traction with the evolution of advanced and fast charging techniques. Contactless charging has emerged as an innovation and is a major trend in the market presently.
Rising Automation in the Industrial Sector Leading to Increasing Deployment of Mobile Robots
Automation has significantly proliferated through the industrial sector, with major vendors across different industries, such as automotive, manufacturing, healthcare, and defense are deploying robotics and software technologies to improve productivity and help attain cost-efficient and effective solutions. Robotics market is expected to witness a boost in sales, following successful deployment of robots in China emerging as a resounding success, thus, kick starting a major trend to be followed across the rest of the APAC region. The increasing use of mobile robots will consequently drive the demand for the charging stations, as they are much more cost-effective as compared to replacing batteries constantly.
North America Expected to Sustain its Dominance over the Market
The North American countries, led by the US is expected to dominate the mobile robots market during the forecast period. The region accounts for the largest share of the market, courtesy of its highly developed industrial sector, and buoyed by the presence of leading vendors in the automation and robotics industry in the region. The region has been a pioneer in technology, and hence, is expected to innovate in the robot charging market, and gain a sustainable competitive advantage through this innovation.
Key Developments In The Market