Growing Implementation of Last Mile Robot Delivery Set to Drive Market Growth Through 2027

The Delivery Robots Market was valued at $301.5m in 2021 and is estimated to generate $589.1m revenue by the end of 2024 and $1,363.2m by 2027. The market is estimated to grow at a CAGR of 30.25% from 2022 to 2027. The wide usage of delivery robot among various end-use industry such as food and beverage, healthcare, electronics, retail and others is set to boost its market growth in the upcoming years. Growing adoption of delivery robot in various sectors for delivery purposes has opened huge opportunities for the key players to come up with large number of products which in turn would boost its market growth in the future. Delivery robots were already in use in some urban areas, airports, universities, hotels, and large corporate campuses in developed countries, but demand for them is now increasing exponentially owing to factors such as the presence of cameras, GPS sensors, microphones, and speakers in delivery robots, as well as the ability to talk to customers via AI-driven natural language processing. Furthermore, improved software and more sophisticated hardware have enabled the development of an entirely new breed of delivery robot. While basic models operate on two axes, the latest breed of delivery robot with Artificial Intelligence is capable of movement on six axes. They can be programmed to perform a single task repeatedly with high accuracy and speed, or to carry out complex tasks. Hence, the integration of AI in delivery robot is expected to create huge opportunities for the key players during the forecast period.

Medical industry is a booming industry for the delivery robots. In medical industry, delivery robots are used to deliver all types of food delivery to lab samples. Apart from this, the growing number of strategies adopted by key players is expected to positively influence its market growth. For instance, in October 2021, Tortoise expanded its remote controlled delivery robots to convenience store chains across the U.S. through a new two-year strategic partnership with KRS. Under the agreement, KRS will resell and distribute more than 500 of Tortoise’s sidewalk delivery vehicles to help its convenience store customers offer affordable, same-day last-mile delivery options.

Retail robotics are here to revolutionise every aspect of the shopping experience as the times change. The retail business is approaching a critical juncture. Global e-commerce sales hit $3.53 trillion in 2019 and are expected to hit $6.54 trillion in 2022. Retailers are moving toward retail automation, according to a 2020 Future of Retail Technology poll of more than 300 retail decision-makers. Automated technology is essential to increase efficiencies and improve customer experience, according to nine out of ten retail decision-makers. Automated grocery delivery is a retail technology that suddenly discovered a more strong use case in 2020 and 2021, when the novel coronavirus pandemic prompted customers to favour contact-free transactions in the interest of keeping healthy.

Rapid improvements in automation and rising e-commerce demand may soon pave the path for widespread use of robot and drone technology in last-mile goods delivery. Robot couriers have the potential to tackle a variety of logistics-related concerns, including high labour costs, energy efficiency, and traffic congestion. Increased use of automated last-mile solutions would change warehouses and delivery networks, causing them to become increasingly decentralised. Micro fulfilment centres, often known as "dark warehouses," have already been popular in a number of locations and are expected to become even more so in the future. Abandoned shopping malls could be transformed as fulfilment centres as more people turn to online shopping. Other infrastructure upgrades will accompany the introduction of delivery drones and robots into the logistics ecosystem. As a result, delivery bots sprinting down sidewalks, drones landing in backyards, or even 'flying warehouses' in the skies, as Amazon just patented, may become frequent sights.

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Rise in technological advancement and development of new autopilot software when integrated with delivery robot is set to create enormous opportunities for its market growth in the future. Autopilot software operated vehicles leverages the specific advantages of each mode of transport to facilitate the use of robotics technology in cities, rural areas and in industrial environments. Also, it enables users to cost-efficiently automate their logistics by saving their valuable time and money. For instance, TeleRetail's Aito software-based delivery robot collect data from various sensors on the robot such as GNSS, lidars, cameras, and so on to localize themselves and navigate to the ordered destinations. All data is processed directly in the robot, allowing the robots to react quickly in the event of an unexpected obstacle. Moreover, the logistics automation advancements manage requested deliveries automatically, with no human intervention or supervision required. Furthermore, it includes a variety of applications for users and allows them to efficiently automate every step of the delivery process. Hence, the integration of such software into delivery robots would boost its market growth in the future.

Key players in the Delivery Robot Market are Nuro Inc., Starship Technologies, Aethon and others. The market is moderately consolidated by few major companies and the major development strategies adopted by these companies are mergers, product launches among others.