(EMAILWIRE.COM, February 24, 2017 ) According to a new market research report on the “Mobile Robots Market by Environment (Aerial, Ground, and Marine), Component (Hardware and Software), Application (Professional Service and Personal Service), and Geography (North America, Europe, Asia-Pacific, and the RoW) - Global Forecast to 2020”,the mobile robots market is expected to grow at a CAGR of 16.31% between 2015 and 2020, and reach USD 10,605.4 Million by 2020.

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The global mobile robots market was valued at USD 4,438.9 Million in 2014 and it is expected to reach USD 10,605.4 Million by 2020, at an estimated CAGR of 16.31% between 2015 and 2020. The professional service sector constituted the largest application for the mobile robots market in 2014 and it is expected to continue to grow at a significant rate because of the increasing applications, such as logistics, inspection & maintenance, telepresence, and field robots across the globe. In the personal service application segment, the market for mobile robots is expected to be driven by the increase in the adoption of robots from applications in educational institutions, domestic tasks, and robotic pets.

The mobile robots market players have been focusing on the innovations in terms of technological advancements to cater to the specific needs of several industries and to increase the safety of these robots. Personal services such as personal assistance and rehabilitation systems are the emerging application in the personal service application segment, as robots provide assistance, especially to elderly people or patients. The potential applications of mobile robots in the professional service application segment are inspection & maintenance robots, telepresence robots, commercial drones, logistics robots and field robots. The market for these applications is expected to grow at a significant rate during the forecast period, because of the increasing adoption of the mobile robots due to the decline in the prices of several robotics components such as sensors, actuators, and others. Furthermore, these systems have been able to overcome the difficulties faced by humans in saving costs and time apart from avoiding danger in several applications.

North America was the largest market for the mobile robots in 2014 with a share of 49.19%. However, the Asia-Pacific market is expected to be the fastest-growing mobile robotics market, followed by the European market which is also among the major regions that plays a significant role in the growth of the mobile robots market during the forecast period.

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The growth of the market in North America is expected to be largely driven by the U.S., which accounted for 76.45% of the total North American mobile robots market in 2014. The Asia-Pacific market is expected to be driven by its key markets such as Japan, China, South Korea, and India.

The report describes the market dynamics that include the key drivers, restraints, challenges, and opportunities with respect to the mobile robots market and it forecasts the market till 2020. This global report provides a detailed view of the mobile robots market across environments, components, applications, and geographies. The report also profiles the prominent players in the mobile robots market along with their key growth strategies. The competitive landscape of the market analyses a large number of players with their market share. The market is witnessing numerous collaborations and partnerships across the value chain, to cater to various industries in different geographies.

The major companies in the global mobile robots market that have been included in this report are iRobot Corporation (U.S.), KUKA AG (Germany), Amazon.Com, Inc. (U.S.), Google, Inc. (U.S.), Bluefin Robotics Corporation (U.S.), Adept Technology, Inc. (U.S.), GeckoSystems Intl. Corp. (U.S.), Northrop Grumman Corporation (U.S.), ECA Group (France), and Honda Motor Co., Ltd. (Japan), and others.