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Interact Analysis downgrades mobile robot forecast by 18%
- Due to macroeconomic factors, Interact Analysis has lowered its forecast for the global mobile robot market by 18% in 2027.
- The retail industry has been impacted by a post-Covid correction, and China’s economy has weakened more than expected.
- Interact Analysis predicts mobile robot revenues will reach $5.5 billion in 2024 and grow at more than 20% annually up to 2030.
- Despite its more cautious forecast, Interact Analysis has created optimistic, base, and pessimistic scenarios.
- Interact Analysis expects recently announced stimulus policies in China to boost domestic demand over the next few years.
- Labor shortages remain the biggest driver of demand for mobile robots, exacerbated by rising labor costs.
- Interact Analysis projects the installed base of mobile robots to exceed 4.2 million at the end of 2030.
- The less favorable mid-term outlook notwithstanding, Interact Analysis still anticipates double-digit revenue growth of 20-30% annually out to 2030.
- Chinese vendors continue to lead the market generating nearly 50% of all global mobile robot revenues and two-thirds of shipments in 2023.
- Reduction of prices and the introduction of Robotics-as-a-Service (RaaS) and leasing models are helping to overcome significant barriers to mobile robot adoption, such as high upfront costs and lack of interoperability.
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