The new report by Expert Market Research titled, ‘Global All Terrain Robot Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global all terrain robot market, assessing the market based on its segments like type, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): USD 184.3 million
• Forecast CAGR (2023-2028): 15.2%
Rising demand for these robots from the military and defence sector is one factor driving market growth. Improvements in machine vision systems are another factor accelerating market growth. Gaining traction in precision agriculture will also help the market grow. Increasing the use of these robots for air strikes and rescue operations will also help the market grow.
Industry Definition and Major Segments
Robots and robotics have revolutionised various industries, providing society with unprecedented value. Human and robotic hybridization is already taking place as a result of exponential breakthroughs in modern technology, such as AI and machine learning, and these innovations are unlikely to leave any field unscathed. The capabilities of robots have significantly increased over time.
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The industry can be broadly categorised on the basis of type into:
• Wheel Type
• Leg Type
• Track Type
• Hybrid Type
The industry can be divided on the basis of application into:
• Mining and Construction
• Military and Defence
• Agriculture
• Others
The global regions for all terrain robot market include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
Globally, rising economies and increasing mechanisation are driving the market. All-terrain robots are still being developed to suit the needs of patrols for improved technology to deal with potential explosives, especially in military situations. Professionals, on the other hand, confront challenges and roadblocks in creating robotics in order to match new demands from diverse industries, which could stifle market growth. The failure of these robots to adapt to a complicated topographical environment is a source of concern for market investors.
Key Market Players
The major players in the market are Boston Dynamics, Dr Robot Inc., Endeavor Robotics, Inc., Evatech, Inc., Inspector Bots, Roboteam, Stanley Innovation, SuperDroid Robots, Inc., Telerob, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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