With a projected increase from USD 0.4 billion in 2023 to USD 1.8 billion by 2028, and a remarkable Compound Annual Growth Rate (CAGR) of 33.7% throughout the forecast period, the Delivery Robots Market is expected to grow significantly.
The market's trajectory is determined by a number of factors, such as the range of hardware and software solutions offered, load-carrying capacities, wheel count (from 3 to 6), speed restrictions, and a variety of end-user industries, including food and beverage, retail, healthcare, and postal services. This strong growth forecast emphasises how delivery robots are being used more and more in a variety of industries, and it also shows how these autonomous systems are anticipated to have a revolutionary effect on the logistics and transportation scene on a worldwide scale.
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There are two main reasons for the delivery robots market's rapid rise. First off, there has been a discernible rise in venture capital, which suggests that investors are becoming more interested in and confident in the possibilities of autonomous delivery systems. Second, the industry is growing as a result of the decrease in the price of last-mile deliveries, an essential but frequently costly part of logistics. Moreover, the worldwide upsurge in the e-commerce domain is recognised as a noteworthy catalyst, offering huge prospects for expansion for the delivery robot industry. The need for effective and automated last-mile delivery solutions is anticipated to grow as e-commerce keeps expanding, driving the market.
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Load Bearing Capacity (>50 Kg) Robots to account for a larger market share in 2023
Deliveries that are capable of carrying more than fifty kilogrammes are essential when it comes to delivering large packages and food that are ordered online. By volume, these robots had a significant market share of about 26% in 2022. Autonomous delivery cars, like JDX, have been deployed by companies such as JD.com, a well-known Chinese online retailer. These vehicles are built for last-mile deliveries and have an outstanding ability to carry up to 300 kg of cargo. Nuro's R1 cargo carrier from the United States is another impressive example, with the capacity to carry 125 kg. But because these robots operate on streets rather than sidewalks, they are subject to more regulatory scrutiny than their counterparts. For delivery robots that can carry more than 50 kg of cargo, managing traffic becomes an essential component of their mission as they manoeuvre through cities to meet the demands of the rapidly expanding e-commerce industry.
Hardware to hold a majority of the market share during the forecast period
In 2022, the delivery robots market was led by the hardware sector, which held a significant share of roughly 70%. The main cause of this popularity is the high cost of essential parts like radars and LiDAR sensors, which are necessary for the creation and design of delivery robots. Particularly important are LiDAR sensors, which offer high-resolution, three-dimensional data on the robot's environment. This entails locating individuals and objects, evaluating their velocity and path, and empowering the self-driving car to choose the safest path to reach its objective. LiDAR sensors' 360° view capabilities improves the robot's comprehension of the driveable region, obstacle avoidance, lane following, lane switching, and hill navigation.
Retail segment to grow at the highest CAGR during the forecast period
Delivery robot use is growing significantly, especially in the retail sector for e-commerce applications. The realisation that last-mile delivery is an essential and expensive part of the supply chain as a whole is driving this trend. The e-commerce sector is experiencing strong yearly growth rates of 8–12%, therefore last-mile delivery robot integration makes sense given this growing market. An astounding 300 billion packages are expected to be delivered yearly by 2030, which presents a large opportunity market for last-mile delivery solutions that use delivery robots. The idea of doorstep grocery delivery has spread throughout the world, and new businesses are expediting the procedure to get rid of the need for customers to hurry to stores and stand in queue. In addition to guaranteeing prompt and high-quality product delivery, the use of delivery robots in supermarket delivery offers a chance to save money. This trend is exemplified by Nuro's self-driving cars in the US, which securely deliver groceries and other commodities to customers from retailers.
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Market in Asia Pacific to hold significant growth opportunities during the forecast period
The delivery robots market in Asia Pacific is expected to develop at the highest compound annual growth rate (CAGR) of 36.7% during the forecast period, reaching a value of USD 430.4 million by 2028. At the moment, Australia and Japan are leading the way in delivery robot testing. According to a news release issued by THE JAPAN TIMES LTD. in January 2023, there has been a noteworthy development in Japan. The law has been altered to allow automated delivery robots that are remotely monitored by humans to operate on public highways starting in April 2023. Robots have also been tested in Japan's business and residential areas to deliver food and other requirements. Growing awareness of delivery robots' potential to provide highly efficient and economical delivery services is anticipated to fuel the growth of the Asia Pacific market.
Major vendors in the Delivery Robots market include Starship Technologies (US), JD.com, Inc. (China), Panasonic Holdings Corporation (Japan), Relay Robotics, Inc. (US), and Nuro, Inc. (US)—accounting for about 35–45% market share. Starship Technologies (US), JD.com, Inc. (China), among others.
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