The Delivery Robots Market is predicted to expand significantly over the next years, rising from USD 0.4 billion in 2023 to USD 1.8 billion by 2028. The amazing Compound Annual Growth Rate (CAGR) of 33.7% is indicated by this substantial growth. This exponential market growth is anticipated to be mostly driven by the surge in demand for autonomous and effective last-mile delivery solutions.

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There are two main causes for the market's brisk rise. First off, the expansion of venture capital has given the creation and application of delivery robot technologies a significant financial boost. Second, these solutions are now more commercially viable for enterprises due to the decrease in last-mile delivery costs. Delivery robots provide effective and affordable solutions for the continuously growing demands of last-mile logistics in the e-commerce sector, which is another factor driving the growth of the market.

Load Bearing Capacity (>50 Kg) Robots to account for a larger market share in 2023

Robots with load-bearing capacities greater than 50 kg are anticipated to command a sizable market share by 2023. These robots are mostly used to fulfil the desires of online customers by delivering big packages and groceries. Notably, they already controlled around 26% of the market's volume in 2022. The R1 from Nuro can carry 125 kg of cargo, whereas major competitors like JD.com in China have created autonomous delivery vehicles like the JDX, capable of hauling up to 300 kg. However, as these robots travel on streets rather than sidewalks, they are subject to a greater number of restrictions, making it necessary to implement efficient traffic control strategies.

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Hardware to hold a majority of the market share during the forecast period

The hardware sector is anticipated to continue to dominate over the forecast period, accounting for the majority of the market for delivery robots. The high cost of essential parts like LiDAR sensors and radars, which significantly increase the cost of the robot's design and development, is blamed for this significant market presence. LiDAR sensors are essential for giving the delivery robot accurate, three-dimensional information about its surroundings, allowing it to locate things and people, judge their actions, and choose the safest path to its destination. The robot can drive, avoid obstacles, read road signs, and handle slopes efficiently thanks to these 360-degree sensors.

Retail segment to grow at the highest CAGR during the forecast period

Due to the growing use of delivery robots in the e-commerce industry, the retail sector is anticipated to grow at the greatest compound annual growth rate (CAGR) during the projection period. Due to the last-mile delivery phase's high cost and importance to the supply chain, the retail sector has adopted delivery robots to a substantial extent. The demand for last-mile delivery robots is anticipated to be a major factor in this rising market, which is likely to increase at a consistent rate of 8–12% yearly thanks to the e-commerce industry. Additionally, the idea of doorstep grocery delivery has spread globally, with businesses using delivery robots to speed up the process and provide high-quality goods at reasonable prices.

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Market in Asia Pacific to hold significant growth opportunities during the forecast period

The Asia Pacific market, which is expected to reach USD 430.4 million in value by 2028 and register a phenomenal CAGR of 36.7%, is well-positioned to present considerable growth potential throughout the projected period. Automated delivery robots are now being tested in Australia and Japan, with the latter making headway by permitting them on public roads beginning in April 2023 thanks to a changed road traffic regulation. In several Japanese residential and commercial areas, robot deliveries of food and essentials have been tested. A major factor in the market's growth in the region is anticipated to be the growing awareness of delivery robots' potential to provide effective and affordable delivery services.

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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