The global terrain robot market value was US$ 0.41 billion in 2020. The global terrain robot market value is forecast to reach US$ 1.41 billion by 2030, with a growing compound annual growth rate (CAGR) of 14% during the forecast period from 2021-2030.
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Terrain robots are lightweight mobile robots designed to meet the strategic requirements of diverse industries. The terrain robot’s goal is to explore an obscure climate on its own and recognize objects of interest. In addition to its primary applications in security and reconnaissance, it can also detect & refuse landmines, identify bombs and explosives, put out fires, regulate hazardous materials, and support post-disaster rescue missions. This robot uses a multi-agent system architecture that uses asynchronous data communication and an infrared rangefinder to detect obstacles. A robot can be controlled manually, as well as pre-programmed or controlled through an online control console.
Factors Influencing Market Growth
Terrain robots are always improving in order to assist the military in managing explosives in their patrols. Manufacturers are also leveraging new technologies such as Zigbee, Radiofrequency, and Digital Terrain Mapping (DTM) to develop highly advanced robots with sensors and guidance technology to make operations easier. Thus, a rise in economies and the development of automation globally are driving the growth of the global terrain robot market share.
The automation of the mining and construction industries is the primary reason for the growth of the terrain robot market during the forecast period.
Terrain robots are experiencing rapid growth due to an increase in military & defense applications. In addition, machine vision systems have the potential to grow the market.
The design challenges associated with robots may slow down the market growth.
A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. Census Bureau reports the recovering of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market for Terrain Robot Market.
Impact Analysis of COVID-19
The COVID-19 outbreak has significantly impacted the global terrain robot industry. A significant impact on the raw material market was the procurement of raw materials, wherein time and shipping costs were major concerns. Moreover, the mining and construction industries temporarily ceased operating due to a lack of workers. However, it created lucrative markets for terrain robots during the forecast period. Post pandemic, the terrain robot market is likely to expand rapidly.
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North America dominates the market for terrain robots as security threats grow internally and externally. During the forecast period, the emergence of key players in the terrain robot market will further boost the market’s growth in the region.
The terrain robot market is forecast to grow strongly in Asia-Pacific due to the occurrence of major key players. Further, the growing acceptance of terrain robots is likely to boost growth in the coming years.
According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.
This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).
The leading prominent companies profiled in the global terrain robot market are:
Dr Robot Inc.
Endeavor Robotics, Inc.
SuperDroid Robots, Inc.
Other Prominent Players
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Scope of the Report
The global terrain robot market segmentation focuses on Type, Product, Application, and Region.
Segmentation based on Type
Segmentation based on Product
Segmentation based on Application
Military & Defense
Mining & Construction
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Segmentation based on Region
Rest of Western Europe
Rest of Eastern Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America
What is the goal of the report?
• The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
• During the forecast period, the report analyzes the growth rate, market size, and market valuation.
• The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
• The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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