Unmanned Ground Vehicles Market Growth & Trends
The global unmanned ground vehicles market size is anticipated to reach USD 5.62 billion by 2030, expanding at a CAGR of 8.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The rise in demand for the UGVs in civil and business applications, including the oil and gas industry, airports, law enforcement, firefighting, and agriculture, among others, is anticipated to propel the unmanned ground vehicle(UGV)s market growth. Additionally, UGVs are utilized in a variety of missions to improve military situational awareness in urban combat with the primary objective to lower the number of human casualties in such circumstances.
Advancements in robotics technology have extended the capabilities of UGVs in numerous applications such as assisting multiple combat missions and disaster relief tasks. This, in turn, is expected to drive the market growth further. However, the market for UGVs is considered to be constrained by reliability & bandwidth issues and vehicle battery life restrictions, which are expected to be resolved with ongoing development for the market. On the other hand, the demand for autonomous control systems and an increase in operational efficiency are some of the lucrative market growth opportunities for the UGV market.
North America accounted for the largest market share in the market due to rising investments in the creation of UGVs and expanding use of UGVs in the defense sectors of many countries in the region, particularly the U.S. The U.S. is a forerunner in the advancement and development of autonomous systems. For instance, UGVs like a 10-pound Dragon Runner 10 robot developed by the North American company QinetiQ Group that is equipped with day and night cameras, and transceivers, and can transmit all information to the operator from a distance.
Edge Analytics provides the same capability as a traditional analytics tool, with the exception of where the analytics are conducted. The key distinction is that edge analytics programmers must run on edge devices that may be limited in storage, computing power, or connection. Digitization has been the driving force behind the most recent revolutions. Companies have long struggled with how to extract relevant insights from the millions of nodes of data created each day by IoT-connected devices. The amount of linked gadgets, from a smartwatch to a smart speaker, is increasing the volume of data to be mined. Many new technologies, like as AI and Big Data, have become indispensable for gathering insights.
North America will gain a larger market share in the edge analytics market due to an increase in the need for predictive analytics, which will increase the adoption of edge analytics solutions with a higher concentration of industrial and telecommunications industries. With the rise of IoT, there has been a surge in interest in edge analytics. For many firms, streaming data from different IoT sources produces a massive data repository that is challenging to manage.
Unmanned Ground Vehicles Market Report Highlights
- The teleoperated operation has been the largest operation segment owing to its wide usage in numerous operations, including rescue and search, surveillance, and others, allowing it to achieve a market share of more than 40% in 2022
- Based on mobility, the tracks segment accounted for the largest market in 2022. This can be attributed to the increase in defense spending
- The small-size segment is predicted to have the fastest growth rate in the unmanned ground vehicle market during the forecast period. This growth can be attributed to the result of UGVs being used more frequently for military purposes
- Based on the system, the payload segment of the unmanned ground vehicle market is anticipated to grow with the highest CAGR of 9.6% during the forecast period owing to the improved performance of the vehicle by technological advancements
- The commercial segment is predicted to have the fastest growth rate in the unmanned ground vehicle market during the forecast period. This growth can be attributed to the growing use of commercial applications, such as transportation
- Middle East & Africa followed by Asia Pacific is anticipated to exhibit the highest growth rate during the forecast period. The market is likely to grow at a CAGR of 10.5% from 2023 to 2030.