Market Report: AGV & AMR Robotics 2023

Executive Summary

Post Pandemic Growth Slowing. US Remained Strong. Chinese Competition at Breaking Point. Global Orders in 2024 May Be Challenging

 

Definition: AGV & AMR Robots

  • Focus on mobile robots used to transport payloads (10Kg – tens of tonnes) between A-B, deployed in factories, production facilities, and warehouses (excluding ecommerce applications — covered in G2P report)

 

2023 Market Growth Positive

  • 52% of stakeholders indicated a positive 2023 and that a return to normal was to be expected after ‘crazy growth’ in 2022
  • Key market drivers included the automotive sector (switch to electric vehicles), F&B, and the US market
  • Growth in Europe had largely dissipated in 2022

 

China Largely Commoditised

  • The Chinese market grew in 2023, but price competition had turned hyper-competitive with domestic prices for AGV & AMRs at historical lows
  • Vendors with money left in the bank targeted a 2024 launch in the US market, partnering in the EU

 

Supply Chain Problems Abated

  • Lead times returned to near normal while prices for components (and robots) increased about 10-30% in NA and EU during Covid

 

Inhibitors for Faster Growth

  • The overall AGV & AMR market has experienced up to c.10% annual growth in the last decade
  • But there were multiple inhibitors for faster growth:
  • Of 100 incoming inquiries, only 1 customer was fully aware of the need to change processes and workflows to accommodate robots; sector marketing thought to contribute to this
  • A highly fragmented landscape with 500+ vendors = difficult for customers to select the right partner/s
  • Some customization in nearly every project
  • Brownfield accounted for the majority of sales, but was often complicated due to frequent re-engineering requirements, moving infrastructure, fixing floors
  • Lack of established AGV/AMR system integrators

 

Growing Software Importance

  • AGV & AMR software innovation led by Agnostic Fleet Managers, catalyzed by interop standards
  • A “frenzy” of Agnostic Fleet Manager selection in 2023 had led to AGV & AMR project delays
  • FMS evolving into “Intralogistics Operating Systems” with growing consulting opportunities/practice
  • Other SW trends included 3D visualization tools as a pre-sales tool, VSLAM for RTLS, etc.

 

Market Outlook 2024 + Beyond

  • Stakeholder suggested it had become increasingly difficult to apply any forecasting methodologies
  • The US market remained very strong, but elections in 2024 could bring additional volatility
  • Multiple international vendors aimed to establish, consolidate and/or grow their US presence in 2024
  • Increased offers of RaaS and/or Rental appeared to be early attempts at stimulating growth
  • Continued M&A expected as some businesses may run out of cash and could be acquired; interviews suggested growing signs of distress in the sector

 

Recommendations to Buyers

  • Senior management buy-in — always
  • Know your processes and workflows intimately and how these may be affected by a mobile robot
  • Start small and learn from a few vehicles or go larger with throughput/performance bonds

This report is available free of charge thanks to the generous sponsorship of SAFELOG, Mobile Automation Group, KOLLMORGEN

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Table of contents

  • Executive summary
  • AGV & AMR sector overview
    • Types of mobile robots
    • Types of vendors
  • Market growth
    • Market growth China, US
    • Market growth by sector
    • Changing market dynamics
  • Growth inhibitors
  • Buyer recommendations
  • Component suppliers
  • AGV & AMR software
    • SLAM (navigation, localisation)
    • Fleet manager, interop
  • Mergers & acquisitions
  • Vendor directory (A-Z)
  • Interviews, trade shows, glossary

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The following information will be shared with STIQ (the author of this report).


A free membership of the Mobile Robot Directory is required to download our market reports. Your free membership is subject to our Terms of Service, please read them carefully before proceeding.