The Global Autonomous Delivery Vehicles Market size surpassed at USD 1.40 Billion in 2020 and is expected to reach USD 25 Billion by 2028 at a CAGR of 43.8%.
The growing demand for quicker delivery, along with advancement in technology, will impact the market positively. The rise of the e-commerce sector and rapidly changing consumer lifestyles will drive the market demand.
Autonomous delivery vehicles are a crucial emerging technology in restaurants & food chains, and the retail sector. An increase in the urban population will lead to massive traffic congestion. Furthermore, the growing concern for environmental issues will create a need for these types of vehicles.
The commercialization of autonomous vehicles is propelling due to the imposition of quarantine and lock-down for an extended period. Consumers are increasingly purchasing autonomous delivery vehicles to lower the risk of getting infected by the COVID-19 infection. The situation is boosting the emergence of technology in the market.
Autonomous delivery vehicles provide service to customers at their doorstep without any intervention from humans in the entire process. It ensures that the package is delivered in a limited time without affecting the market image of the company. The surge in the usage of the internet will fuel the adoption of online shopping, which, in turn, requires a more efficient and better means to deliver to the customer.
Another driving factor is the outbreak of the COVID-19, which has led to the high demand for autonomous delivery vehicles. The ongoing pandemic has led to sudden and unprecedented financial damage to both developed and developing nations. A high level of investment in the IT sector and advancement in technology has provided lucrative opportunities to the market. End users are influencing revenue by increasing sales through e-commerce channels to meet the required customer demand during the forecast period.
However, the lack of infrastructure required for the operation of autonomous delivery services in developing nations and the high cost of the products are some of the factors limiting the adoption of the technology. Another driving demand is from e-commerce and the healthcare sector. The growing trend for online shopping and the imposition of lockdowns at several places have limited human contact and led people to shop online for their domestic needs. An increasing requirement for safer industry standards in the workplace and a rise in productivity owing to improved supply chain processes have also propelled the market demand.
The Aerial Delivery Drones type segment will hold the largest share of 57% in the Autonomous Delivery Vehicles market in the year 2020.
Road transport is the backbone of the logistics industry, and with the growing congestion in urban settlements, aerial delivery drones are witnessing increased demand. These aerial delivery drones are used to deliver pizza as well as medical supplies. The aerial drones have the potential to influence the ocean freight by simplifying the reviewing and inspecting process. In the railways, commercial drones are deployed from the train to convey packages as they approach their specific destinations.
In terms of revenue, the Healthcare application segment will dominate the Autonomous Delivery Vehicles Market, with USD 0.40 Billion in the year 2020.
The potential application of autonomous delivery vehicles in healthcare is quite broad. They include prehospital emergency care, expediting laboratory diagnostic testing, and surveillance. Currently, these vehicles are used to deliver vaccines, automated external defibrillators, and hematological products. Moreover, they are also used in the identification of drowning victims and mosquito habitats as a public surveillance modality.
Drones are in high demand in African countries. Generally, it takes 11 days to transport a child’s dried blood samples in the healthcare facility to a lab for the test of HIV. UNICEF led the project by speeding up HIV testing of infants using helicopter-style drones designed, built, and programmed by Matternet.
The Asia Pacific region is anticipated to grow with a significant CAGR of 66.5% during the forecast period.
North America held the largest market share and is expected to witness a high demand for delivery vans in the current situations due to the rising COVID-19 infection in the U.S. and increasing necessity to curb the spread of the disease. The region held a share of 47.9% in the year 2020.
The Asia Pacific region also shows promising growth owing to the rapid e-commerce industry and improvement in healthcare infrastructure. A booming manufacturing sector and several planned aerial delivery vehicles infrastructure in emerging nations such as India and China are also impacting the market positively. Several hospitals in the region are using these automated delivery vehicles to save time and limit human interaction.
Major Companies and Market Share Analysis
The market for Autonomous Delivery Vehicles is fairly consolidated, with few small as well as medium-sized manufacturers, which account for a major global share of the market. The manufacturers involved in the market are desegregated across the value chain. The key companies of the market are well-equipped with large manufacturing facilities and are also engaged in various research & development activities. Some of the prominent players in the Autonomous Delivery Vehicles industry include:
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