The autonomous navigation market in Europe is expected to grow from US$ 138.3 million in 2019 to US$ 243.4 million by 2027; it is estimated to grow at a CAGR of 9.3% from 2020 to 2027.
With growing industrial economies, the companies are integrating advanced technologies in their business process to optimize productivity. With the growing working population, the need to incorporate autonomous technologies in the industrial sector is rising to provide products on time. Therefore, industries such as logistics are inclined toward automation to develop automated guided vehicles (AVGs) for time management, accuracy, and productivity. With advancements in robotic technologies, the industrial sector, including logistics, is deploying automation to boost production quality with a better time management aspect.
Earlier, AGVs were restricted to manufacturing systems; however, AGVs are now being used in the logistics for repeating transportation tasks in container terminals, warehouses, and underground transportation systems owing to continuous technological developments. As mobile robots have a wide range of applications, they are positively influencing the demand for autonomous navigation.
In terms of application, the commercial segment led the Europe autonomous navigation market in 2019. In the commercial sector, autonomous navigation is used for varied applications including water management, orchard design, weed management, robot tractors, canopy management, mechanical harvest, and remote sensing according to the environment and need of users. Companies such as Fraunhofer IPA have created the “Navigation on Demand” system to fulfill the cost-related requirements of AGVs and robots.
The commercial sector consists of all autonomous systems used in the automotive, aviation, marine, and logistics sectors. Owing to constant R&D in computer vision, edge computing capabilities, robotics, and artificial intelligence, the mentioned sectors are expected to witness adoption of autonomous technology. To achieve higher output with lesser costs, the demand for autonomous technology will propel and influence market growth.
The ongoing COVID-19 pandemic has severely impact the European countries. Spain, Italy, Germany, the UK, and France are among the worst-affected member states in Europe. Businesses in the region are facing severe financial difficulties as they either had to suspend their operations or reduce their activities in a substantial manner. Due to business lockdowns, travel bans, and supply chain disruptions, the region has seen an economic slowdown in 2020 and is most likely to witness in 2021. The entire region is heavily hit by the COVID-19 outbreak, which has resulted in temporary closure of tech giants and many industrial sectors. This closure has obstructed the investment decision of several companies on different software. The region is a major manufacturing and industrial hub for various industries such as machinery equipment, manufacturing, and logistics. However, due to business lockdowns, travel bans, and supply chain disruptions, the region has witnessed decline in activities in aforementioned industries, resulting in lesser development of autonomous technologies and systems.
The overall Europe autonomous navigation market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Europe autonomous navigation market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe autonomous navigation market. BlueBotics SA; Brain Corporation; Collins Aerospace, Raytheon Technologies Corporation Company; Furuno Electric Co., Ltd; Kinexon; Kollmorgen; Kongsberg; Trimble Inc. are among the players operating in the Europe autonomous navigation market.