AGV and AMR Market (Mobile Robots Market) Opportunity worth ~$20B by 2028 with an installed base of 2.7 Million Robots - Driven by Logistics & Manufacturing, Market Forecast till 2028

Online Grocery Set to Be the Next Disruption and May Be the Prime Candidate for Warehouse Automation

Mobile robots, encompassing both AGVs (Automated Guided Vehicles) and AMRs (Autonomous Mobile Robots), play a pivotal role in optimizing space within warehouse facilities for logistics and manufacturing. They possess the potential to reduce the necessity for constructing new and expensive greenfield fulfillment and distribution centers. Even as new centers continue to be developed, they are being designed with a strong focus on integrating robots and other automated systems. These robotic solutions offer flexibility, allowing them to be seamlessly integrated or removed based on operational needs. The realm of Autonomous Mobile Robots (AMR) and Automated Guided Vehicles (AGV) is expanding beyond logistics and manufacturing, driven by advancements in Artificial Intelligence (AI), Machine Vision, manipulation capabilities for automated picking and placing, and robotic mechanics.

According to the study, the AGV and AMR market is projected to reach approximately $20 billion by 2028, experiencing growth rates of approximately 22% for AGVs and 37% for AMRs. The combined installed base of AGVs and AMRs is set to surpass 2.7 million by 2028, making mobile robots a commonplace presence in daily operational activities.

The fourth edition of this post-pandemic AGV and AMR business research presents an exclusive market study that not only covers traditional revenue sources like Logistics and Manufacturing but also delves into emerging applications such as Healthcare, Disinfection, Retail and Inventory Management, Security and Inspection, Agriculture, Hospital Assistance, Indoor and Outdoor Delivery, Cleaning, Tele-presence and Tele-operation, and Data Platforms & Remote Sensing. The study encompasses a thorough analysis of over 650 players through our exclusive AGV/AMR Market Map, highlighting Key Navigation Technologies, Major Form Factors & Functions, Targeted Industry Verticals & Applications, and over 20 geographical regions. The analysis is validated through 100+ in-depth interviews spanning the value chain, including component and technology providers, system integrators, robot manufacturers (OEM/ODM), robotic software & service providers, and end-user industry verticals.

Additionally, the study hones in on distinct components and integral elements of AGV/AMR systems, including Motion Control, Batteries & Chargers, Cameras / Vision Sensors, LiDAR, Sensor Fusion, QR Code, and Wireless Communication. An exhaustive market size and forecast database, presented in Excel format, facilitates further analysis and strategic planning, complemented by 156 market tables. This report serves as a comprehensive reference for assessing market attractiveness, identifying potential partners, customers, or suppliers, evaluating the competitive landscape, benchmarking new technologies, and selecting suitable geographical regions and industry verticals for products and services. End-user insights and perspectives stand as a primary parameter for this market forecast.

Highlights of the AGV and AMR Market

• The industry demonstrated robust growth in 2022 despite challenges like capex reductions, supply chain disruptions, inflationary pressures, and geopolitical uncertainties, recording sales of approximately $5 billion in that year.
• Projected shipments of around 670,000 mobile robots (AGVs & AMRs) are expected for 2028, with an installed base reaching 2.7 million.
• AMRs are anticipated to experience a Compound Annual Growth Rate (CAGR) of around 37% between 2023 and 2028, positioning them as a more attractive market segment compared to AGVs by 2028, with increased shipments and Total Addressable Market (TAM) share.
• Leading markets are forecasted to be the United States, Germany, U.K., and China, contributing to an annual demand exceeding 350,000 mobile robots (AGV & AMR) by 2028.
• Emerging categories like Goods to Person (G2P), Person to Goods (P2G), Picking Robots, Manipulator Robots, Case Handling Robots, and Sortation Robots are expected to gain prominence, particularly in micro-fulfillment contexts.
• China is poised to emerge as a hub for Autonomous Mobile Robots, driven by advantages in labor cost and domestic consumption volume.

The AGV vs. AMR Debate

The study categorizes Automated Guided Vehicles (AGVs) as systems that operate within a structured and monolithic environment, guided by mechanisms like magnetic strips or wires. Obstacles obstructing their path necessitate manual intervention for them to resume motion. Re-deployment of these guided technologies incurs additional costs when facility changes occur.

On the other hand, Autonomous Mobile Robots (AMRs) thrive in dynamic environments, utilizing autonomous navigation. They construct and store facility maps, enabling them to adapt their routes when obstacles arise. AMRs exhibit greater flexibility and ease of deployment, requiring minimal adjustments when facility alterations occur.

Key players in the AGV & AMR realm include:

• Geek+
• Quicktron (Flashhold)
• ForwardX Robotics
• GreyOrange
• HikRobot (HikVision)
• Mobile Industrial Robots - MiR (Teradyne)
• inVia Robotics
• 6 River Systems - 6RS (Ocado Group)
• Fetch Robotics (Zebra)
• JATEN
• IAM Robotics
• Locus Robotics
• Vecna Robotics
• Waypoint Robotics (Locus Robotics)
• Tompkins Robotics
• Scallog
• OTTO Motors (Clearpath Robotics)
• GIDEON Brothers
• Magazino GmbH
• NextShift Robotics (JASCI)
• AutoGuide Mobile Robots (MiR, Teradyne)
• EiraTech Robotics
• Aethon (ST Engineering)
• Prime Robotics (BLEUM)
• HAI Robotics
• Bionic HIVE
• Oppent
• PAL Robotics
• Matthews Automation Solutions (Matthews International)
• GUOZI Robotics
• CAJA Robotics
• Omron (Adept Technology)
• Guidance Automation (Matthews International)
• Syrius Robotics
• MALU Innovation (JD)
• Eurotec (Lowpad)
• Mitsubishi Logisnext Europe Oy (Rocla)
• NeoBotix
• John Bean Technologies (JBT Corporation)
• Transbotics (Scott Group)
• CSG Huaxiao
• EK-Robotics (EK Automation)
• OCEANEERING
• Wellwit Robotics
• Logistic-Jet
• SEEGRID
• BALYO
• Mushiny
• TÜNKERS Maschinenbau GmbH
• CPM - Dürr Group
• SEER
• FlexQube
• IDEALworks GmbH
• Continental Mobile Robots
• DS Automotion (SS Schaefer)
• among others.

The report encompasses insights from various industry segments, including System Integrators (SI) such as:

• Daifuku
• Dematic (KION Group)
• SSI-Schaefer
• Vanderlande (Toyota Advanced Logistics)
• Swisslog (KUKA)
• Knapp
• Murata Machinery Ltd.
• Elettric 80
• Beumer Group
• Witron Logistik + Informatik
• TGW Logistics
• Grenzebach GmbH
• FIVES Group
• Honeywell Intelligrated
• Bastian Solutions (Toyota Advanced Logistics)
• Material Handling System (MHS)
• Jungheinrich AG
• LODIGE Industries
• ViaStore Systems
• Interlake Macalux
• Kardex
• AutoStore
• DMW&H
• Westfalia
• Dambach AG
• PSB intralogistics GmbH
• SIASUN Robot Automation Co. Ltd.
• SAVOYE
• OPEX Corporation
• System Logistics (Krones Group)
• GÜDEL
• Addverb Technologies
• Lodamaster Group
• KPI Integrated Solutions
• Wayzim Technology

Autonomy Service Providers (ASP) like:

• Brain Corporation
• Bluebotics
• KOLLMORGEN
• Autonomous Solutions, Inc. (ASI)
• MOVEL AI
• MOV AI
• FREEDOM ROBOTICS
• ROBOMINDS
• PERCEPTIN
• ROMB Technologies
• Balyo
• Seegrid
• Vecna Robotics
• Machine Vision & Imaging companies including Basler AG
• Keyence
• Omron Microscan
• Cognex

Additionally, it covers players in specialized areas such as:

• Disinfection Robots (UVD Robotics, Sarcos Robotics, Techmetics Robotics, Wellwit, Geek+, Fybots, Sherpa, Akara, MiR, Sesto, LionsBot, SmartGuardUV, Milvus, Revotonix, YouiBot)
• Retail & Inventory Management Robots (Bossa Nova Robotics, Simbe Robotics, Badger Technologies, Lowe’s - LoweBot powered by Fellow AI, Fetch Robotics, Brain Corporation)
• Indoor Delivery Robots (Bear Robotics, Keenon Robotics, Savioke Inc., Rice Robotics, Pudu, PAL Robotics, Keenon, Savioke, Segway Robotics, Anscer, Aethon)
• Security and Inspection Robots (Cobalt Robotics, Knightscope Robotics, OTSAW Digital, SMP Robotics, Enova, Secom, AgileX)
• Tele-operated / Telepresence Robots (Diligent Robotics, Ohmni Labs, AVA Robotics, GoBe Robotics, Double Robotics, Temi Robotics)
• Cleaning Robots (Softbank Robotics, Avidbots, Gaussian Robotics, LionsBot)
• Hospital Support Robots (Revotonix L.L.C, Jetbrain, Aethon, MiR, MeanWhile, Keenon, Savioke, ABB, Diligent)
• Agriculture Robots (Bogaerts, Harvest Automation, AIS, Katif, Naio Technologies, Robotnik)
• Delivery Robots (Last Mile Delivery Robots) from companies like, STARSHIP, NURO AI, Tele Retail, Kiwibot, Robby Technologies, Postmates, Eliport, Hello World Robotics, OTSAW, JD.com, Scout

The study highlights pivotal factors and challenges, including the central role of automation in the manufacturing and logistics sectors as part of Industry 4.0 and Supply Chain 4.0 initiatives. The growth of e-commerce serves as a key driver for AGV/AMR demand in warehouse automation. Global e-commerce sales have experienced a CAGR of 20% over the past decade, surpassing $5 trillion worldwide in 2022, with expectations to reach around $8 trillion by 2028. The share of online retail sales has burgeoned from 2% of the total to roughly 15%, with projections indicating it could exceed 22% by 2028.

High personnel costs in developed countries have fueled interest in AGVs and AMRs. The annual costs for a forklift operator can escalate to $50,000, and constant operation requires multiple drivers. Coupled with forklift investment, annual costs can exceed $200,000. The rise of Artificial Intelligence and Deep Learning is causing disruption across industries, including warehousing. In 2023, SoftBank Group Corp. announced a $100 million investment in the establishment of an AI-oriented warehousing joint venture with Symbotic Inc., named GreenBox Systems LLC. SoftBank is also set to purchase $7.5 billion worth of Symbotic’s AI-powered systems for its warehouses.

Flexible leasing options such as RaaS (Robotics as a Service) are easing upfront investment burdens, enabling end-users to validate Return on Investment (RoI) through pilot runs. These options encompass models like Pay Per Pick, Pay Per Mile, and Pay Per Peak Day, aligning OpEx and RaaS costs.

The evolution of AGVs and AMRs over the past 15 years has yielded a diverse array of machines and markets. A significant challenge lies in addressing safety requirements, particularly between "service" AGVs/AMRs and "industrial" AGVs/AMRs. While the intention is to prevent harm to humans, service robots often interact in human-centric environments such as grocery stores, malls, hospitals, and sidewalks.

The report concludes by differentiating between AGVs and AMRs. AGVs operate within a structured and static environment, guided by methods like magnetic strips or wires, necessitating obstacle removal to resume motion. AMRs function in dynamic environments with autonomous navigation, creating and storing facility maps to navigate obstacles. The flexibility and ease of deployment make AMRs an attractive option, particularly when facility changes occur.

The comprehensive report provides a 500-page, 160+ exhibit market analysis for over 18 industry verticals and applications across 20+ countries and regions. With an in-depth analysis of over 650 companies and more than 165 company profiles, the report is built on the foundation of focused group discussions involving 100+ key industry stakeholders to validate the analysis. It offers a comprehensive excel file with models and market tables, complete with forecasts up to 2028. The report includes two analyst sessions for further insights, along with an investment details excel file containing over 150 M&A and 750+ funding deals. It is enriched with an exclusive Market Map covering 650+ players across more than 15 categories.