The Autonomous Mobile Robot Market size is expected to grow from USD 3.36 billion in 2023 to USD 6.94 billion by 2028, at a CAGR of 15.60% during the forecast period (2023-2028).
The increasing trends of automation in manufacturing, the growing e-commerce sector, the mass personalization of goods, and a shortage of low-cost labor are among the primary factors contributing to the market growth.
The Autonomous Mobile Robot Market is highly fragmented, with the presence of major players like Fetch Robotics (Zebra Technologies Corporation), Mobile Industrial Robots (Mir)(Teradyne Inc.), Geek+ Technology Co. Ltd, Vecna Robotics Inc., and Seegrid Corporation. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
In May 2023, Otto Motors launched the Otto Certified Dealer program to provide high-quality service and support locally throughout North America. The program introduces over 215 regional offices and 2,000 technicians to the rapidly growing AMR industry. Also, in April 2023, OTTO Motors announced its formal expansion into the European market. With the expansion, the company aims to serve its global customer base better and improve material handling operations worldwide.
In March 2023, Geek+ showcased its most recent automation solutions at ProMat2023. The upgraded M200C moving robot was displayed at the Geek+ booth. The M200C is a highly flexible mobile robot connecting various production line parts. The M200C has a built-in lift and can be configured to move bins or shelves. It uses a hybrid navigation system with cutting-edge safety features.
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