Significant Momentum Expected in Delivery Robots Market, CAGR of 33.7% Forecasted

The Delivery Robots Market Size is expected to rise from USD 0.4 billion in 2023 to USD 1.8 billion by 2028, at a compound yearly growth rate of 33.7%.

Pune, 24/05/2024 (informazione.it - comunicati stampa - scienza e tecnologia)

With an outstanding CAGR of 33.7% during the forecast period, the Delivery Robots Market Size is expected to rise dramatically from USD 0.4 billion in 2023 to USD 1.8 billion by 2028.

Numerous important variables are contributing to this strong industry growth, the most important being the rise in venture capital financing, which is encouraging innovation and the use of delivery robots. Investors are providing significant financial support for these autonomous solutions as they see possibilities for revolutionising the logistics and delivery industries. Another important factor is the reduction in expenses related to last-mile deliveries. Conventional distribution techniques have significant operating expenses since they frequently depend on human labour. On the other hand, delivery robots provide a more affordable option by minimising the need for human messengers and streamlining delivery routes to cut down on operating costs. Delivery robots are predicted to become more efficient and affordable as technology develops and grows, which will make them a more alluring choice for companies looking to increase customer satisfaction and delivery procedures.

The delivery robots market is predicted to see significant development prospects due to the global expansion of the e-commerce industry. Efficient last-mile delivery solutions are becoming more and more important as the desire for speed and convenience among consumers drives the continued growth of online commerce. Delivery robots provide an inventive answer to the logistical problems e-commerce companies encounter because of their capacity for autonomous operation and urban navigation. These robots can match the higher expectations of contemporary consumers by greatly increasing delivery efficiency, lowering operating costs, and speeding up delivery times. Moreover, delivery robots' scalability makes them the perfect option for managing the growing number of packages brought on by the expanding e-commerce industry.

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Drivers: Increase in venture funding

The food and beverage, retail, hospitality, and healthcare sectors are the main users of autonomous delivery robots because of their effectiveness and ability to save energy in comparison to conventional electric cars. By drastically cutting down on operating expenses and delivery times, these robots offer a cutting-edge last-mile delivery option. Because of this, venture capital firms are funding businesses that are creating these technologies more frequently. For instance, just 30 days after its last funding round, in March 2022, Starship Technologies, a prominent contender in the autonomous delivery robot sector, obtained an additional USD 42 million in equity funding. The company's total valuation increased to over USD 100 million with this Series B fundraising round, which was co-led by NordicNinja and Taavet+Sten with participation from TDK Ventures and Goodyear. With its current fleet of 1,700 robots, Starship Technologies does about 10,000 deliveries every day. The company plans to use the additional funding to invest in new projects that will showcase the expanding market potential and investor confidence in autonomous delivery solutions, as well as to increase its operations in the US and Europe.

Opportunity: Advancements in features of autonomous delivery robots

Advanced electronics, with notable technological breakthroughs in power sources, data gathering, and processing, enable autonomous delivery robots to operate in a safe, dependable, and efficient manner. Since hydrogen fuel cell batteries have a longer lifespan and weigh less, it is anticipated that future models of these robots will use them instead of the more common lithium-ion batteries. To improve operating safety, delivery robot manufacturers are now including advanced sensor and obstacle-avoidance technologies. The design and operation of delivery robots have been completely transformed by technological developments in the fields of artificial intelligence (AI), 5G, and sensors. For example, 5G networks dramatically speed up data transfer and enhance the responsiveness of Internet of Things (IoT) devices. This technology improves the efficiency and dependability of autonomous delivery robots by processing and using real-time data and facilitating data transmission using GPS or devices that have built-in cameras. These technical advancements play a critical role in expanding the capabilities and uses of autonomous delivery robots, increasing their efficacy across a range of industries.

Load Bearing Capacity (>50 Kg) Robots to account for a larger market share in 2023

Deliveries of big packages and groceries ordered online are mostly handled by robots with a load capacity of above 50 kg. By volume, these high-capacity robots held around 26% of the market share in 2022. Notable examples include the autonomous delivery van JDX from JD.com, which can carry up to 300 kg and was created by the second-largest online retailer in China. The US-made Nuro R1 is another noteworthy model in this class; it has a cargo capacity of 125 kg.

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When opposed to smaller robots, these robust robots are governed by a more comprehensive set of regulations. They require sophisticated traffic control to ensure safe and effective navigation because they operate on streets rather than pavements. They stand out from lighter, sidewalk-operating robots because to their requirement for traffic control and regulatory compliance, which also highlights their place in the changing last-mile delivery market. These high-capacity robots are expected to play an increasingly important role in logistics and supply chain operations as the need for efficient delivery systems increases, especially in urban areas where large and heavy products delivery is a daily necessity.

Hardware to hold a majority of the market share during the forecast period

With around 70% of the market share in 2022, the hardware sector led the delivery robots market. This dominance is mostly attributable to the high cost of essential parts like radars and LiDAR sensors, which greatly increase a robot's design and development costs. In particular, LiDAR sensors are essential because they offer three-dimensional, high-resolution data on the robot's surroundings. LiDAR sensors assess a person or object's speed and trajectory in addition to locating them. The onboard computer system uses this data to calculate the safest route for the self-driving car to take in order to get to its destination.

Retail segment to grow at the highest CAGR during the forecast period

Delivery robot use in the retail industry is on the rise, especially in e-commerce, where they are being used mostly for last-mile delivery duties. Not only is this stage of the supply chain very important, but it also requires a lot of resources in terms of money and time. The e-commerce sector is growing at a consistent rate of 8–12% annually, which means that as the market expands, so too will the need for creative solutions like last-mile delivery robots.

By 2030, there is expected to be an astounding yearly delivery volume of around 300 billion packages, highlighting the enormous potential for last-mile delivery applications that make use of delivery robots. Globally, the idea of doorstep grocery delivery has grown, with several entrepreneurs making the process more efficient and removing the need for customers to physically visit stores and wait in queue. Using delivery robots for supermarket delivery guarantees that fresh, high-quality products will be delivered on time and frequently at competitive pricing.

The use of self-driving cars, created in the US by Nuro, is a prominent illustration of this trend. These cars are skilled at securely delivering groceries and other items from stores straight to customers; they are a prime example of how delivery robots are revolutionising the ease and effectiveness of retail operations.

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Market in Asia Pacific to hold significant growth opportunities during the forecast period

With forecasts indicating a sizeable worth of USD 430.4 million by 2028, the Asia Pacific region is expected to emerge as a major player in the delivery robot industry. The region's strong compound annual growth rate (CAGR) of 36.7% throughout the predicted period supports this economic trajectory. Notably, nations leading the way in testing and deploying delivery robot technologies include Australia and Japan.

As an interesting development, Japan has advanced significantly in this area. Following changes to the road traffic regulations, autonomous delivery robots that are remotely monitored by humans are expected to make their public road debut in Japan in April 2023, according to a January 2023 news release from THE JAPAN TIMES LTD. In certain residential and business districts throughout Japan, trials have already been conducted for the delivery of food and everyday essentials by robots.

The Asia Pacific delivery robot industry is expanding due to increased awareness of the technology's potential to transform delivery services by providing unmatched efficiency and affordability. Delivery robot use is predicted to increase exponentially, further propelling market expansion throughout the Asia Pacific region, as awareness grows and regulatory frameworks adapt to allow these creative solutions.

Delivery Robots Companies:

• Starship Technologies (US),
• JD.com, Inc. (China),
• Panasonic Holdings Corporation (Japan),
• Relay Robotics, Inc. (US),
• Nuro, Inc. (US).

News Covered:

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