The autonomous navigation market in South America (SAM) is expected to grow from US$ 41.3 million in 2019 to US$ 69.4 million by 2027; it is estimated to grow at a CAGR of 8.6% from 2020 to 2027.
In versatile robotics, mobility is the next frontier. Mobile robots are on their way to replace stationary robots and provide greater versatility in new applications. Mobile robots are being deployed for various applications such as medical and surgical applications, physical protection of critical infrastructure, solar farms and photovoltaic power plants, storage and distribution, ocean and space exploration, chemical plants, and oil & gas installations.
Autonomous mobile robots are cost-efficient than human labor, thereby making them an economically feasible option. The growing demand for mobile robots in businesses is encouraging developers and manufacturers to build their advanced versions. In addition, it is important to for a single operator to be able to simultaneously control multiple robots, which is now feasible due to the availability of communication technologies. This helps the operator to remotely track the performance of robots. With the growing use of autonomous navigation in heavy payload applications, the reach for small mobile platforms is expected to grow in the coming years. Combining AI technologies for navigation effectiveness is among the other factors expected to positively influence the demand for autonomous navigation.
In terms of platform, the marine segment is expected to grow at a significant pace during forecast period in the SAM autonomous navigation market. The trend of unmanned ship and vessel navigation is expanding across SAM, thereby helping boost the use of autonomous technology. With growing maritime trade, the shipping industry is inclined to deploy advanced navigation technology to maintain both systems and ship safety. Besides, due to the rising cost of fuel and stringent environmental regulations, it is important to transport cargo cost-effectively. Independent consulting companies, such as SSPA Sweden, are offering services to find autonomous navigation solutions to ensure that sea transport is cheaper, safer, and environment-friendly. Interest in remotely controlled and autonomous ships is rising at a fast pace. Technological developments in sensor, analysis and decision support software, algorithms, and connectivity at sea promotes automation in the shipping and maritime industry. From land-based virtual bridges to support systems, from unmanned ships to remote-controlled vessels, the scope of autonomous technology is rising.
SAM is severely affected by the COVID-19 pandemic. In SAM, Brazil reported the highest number of COVID-19 confirmed cases, followed by Ecuador, Peru, Chile, Argentina, and others. Governments in SAM are taking several initiatives, such as lockdowns, trade bans, and travel restrictions, to protect people and control the spread of COVID-19 in the region. These measures are expected to have a direct impact on the region’s economic growth due to lower export revenues from the drop in commodity prices and reduction in export volumes, especially to major trading partners. The sharp decline in the sales of the logistics industry and halt in vehicle production in the region due to lockdown measures is expected to directly impact the growth of the SAM autonomous navigation market.
The overall SAM 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 SAM 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 SAM autonomous navigation market. Collins Aerospace; Raytheon Technologies Corporation Company; Furuno Electric Co., Ltd; Kollmorgen; Kongsberg; and Trimble Inc. are among the players operating in the SAM autonomous navigation market.