From 2023 to 2028, the Delivery Robots Market is projected to increase at a CAGR of 33.7%, from USD 0.4 billion to USD 1.8 billion. The expansion is linked to rising startup capital and declining last-mile delivery costs. The market is divided into segments based on product type (hardware, software), load capacity, wheel count (3, 4, and 6), speed restriction, end-user industry (food & beverage, retail, healthcare, and postal), and region. The market for delivery robots is anticipated to see growing prospects due to the global expansion of e-commerce.

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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Increase in venture funding

The development of autonomous delivery robots has increased venture funding for businesses operating in this field, notably those providing services to the hospitality, food and beverage, retail and healthcare sectors. These robots are a more enticing option for investors since they use less energy than conventional electric automobiles. Only 30 days after its previous financial infusion, Starship Technologies, a market leader in delivery robots, raised further capital in March 2022. With the USD 42 million in equity raised, the company's valuation increased to USD 100 million. The market for autonomous delivery robots is anticipated to continue growing and innovating as a result of this trend of rising venture capital funding.

Advancements in features of autonomous delivery robots

Advanced electronics are included in autonomous delivery robots to provide reliable, efficient, and safe operations. Manufacturers of delivery robots are always making technological advancements to enhance their power sources, data collection methods, and processing capacities. Hydrogen fuel cell batteries are anticipated to replace lithium-ion batteries as the primary power source for delivery robots in the future because of their better durability and lightweight design. In order to increase safety and effectiveness, businesses are also equipping their vehicles with cutting-edge sensors and obstacle-avoidance systems. The market for autonomous delivery robots is anticipated to rise as a result of these developments, which should produce more capable and effective delivery robots.

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

Heavy packages and food ordered online are typically delivered by delivery robots with load carrying capacity more than 50 kg. In 2022, this type of robots held a market share of about 26%. Autonomous delivery cars with weight capabilities of up to 300 kg and 125 kg, respectively, have been created by companies like JD.com and Nuro. However, since they use streets rather than pavements to move about, these robots are subject to stricter rules, necessitating efficient traffic control. Despite this, a bigger market share for load-bearing capacity robots is anticipated in 2023 as the need for online shopping and home delivery services increases.

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

During the forecast period, the hardware sector is anticipated to account for roughly 70% of the market for delivery robots. The high cost of parts like LiDAR sensors and radars, which are essential in the design and development of delivery robots, is blamed for this. Delivery robots can find people and items, analyse their pace and route, and choose the safest path to their destination thanks to the high-resolution, three-dimensional data that LiDAR sensors provide about the surroundings. Additionally, since these sensors include 360-degree cameras, delivery robots can read traffic signs and navigate up and down hills.

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

During the time of forecasting, the market for delivery robots is anticipated to develop at the greatest compound annual growth rate (CAGR) in the retail sector. This is because delivery robots are being used more frequently in the e-commerce sector, where last-mile delivery is an important and expensive step in the entire supply chain. Robotic delivery services are predicted to have a big impact on the e-commerce sector, which is forecast to increase at a rate of 8–12% annually. With about 300 billion packages estimated to be delivered annually by 2030, there is a sizable potential market for last-mile delivery applications for delivery robots. Additionally, the idea of doorstep grocery delivery is an advanced one on a worldwide scale, and many start-ups are decreasing human labour by using delivery robots for this purpose. The safe delivery of groceries and other items from stores to customers is already being done with the help of self-driving cars, such as those developed by Nuro in the US. In the upcoming years, it is anticipated that the retail sector will significantly propel the market for delivery robots.

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

Asia Pacific is predicted to experience the highest CAGR of 36.7% in the market for delivery robots during the forecast period, creating a sizable potential opportunity. Automated delivery robots are currently being tested in Australia and Japan, and in Japan, they are anticipated to travel on public highways starting in April 2023. Growing public awareness of the potential for delivery robots to offer highly effective and economical delivery services is anticipated to fuel industry expansion.

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