As per a new report published by Fact.MR, a market research and competitive intelligence provider, the line marking robots market is anticipated to exceed a valuation of US$ 10 Mn in 2021, and surge at an impressive CAGR of more than 29% over the forecast period of 2021 to 2031.The market experienced high demand over the studied regions, registering annual growth of 27% during 2016 – 2020. Fact.MR anticipates significant potential in the line marking robots market, owing to factors such as increasing investments in sports across many regions, rising automation adoption rate, and improving technology.
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Key Takeaways from Line Marking Robots Market Study
- GPS-embedded line marking robots are expected to remain the most attractive and witness an absolute dollar opportunity of US$ 115 Mn during 2021 – 2031.
- Based on marking speed, line marking robots with 2.1-5 m/s speed are anticipated to be the most lucrative raking in more than US$ 117 Mn revenue by 2031.
- Based on end user, demand by various sports authorities for line marking robots is expected to grow 13X over the next ten years.
- Together, North America and Europe represented over 85% of overall market share in 2020.
- Market in East Asia is expected to provide an incremental opportunity of over US$ 11.3 Mn from 2021 to 2031, and emerge with a valuation of over US$ 12 Mn by 2031.
“Rising awareness regarding sports is likely to accelerate investments in the field. Automation is the answer to flawless and swift operations on fields and track of sports, which will drive market growth,” says a Fact.MR analyst.
Segments Covered in Line Marking Robots Industry Research
By Tracking Technology
- DPS + GLONASS
- Three Wheel Line Marking Robots
- Four Wheel Line Marking Robots
By Mode of Operation
- Automatic Line Marking Robots
- Manual + Automatic Line Marking Robots
By Marking Speed
- 1-2 m/s Line Marking Robots
- 2.1-5 m/s Line Marking Robots
- >5 m/s Line Marking Robots
By Paint Capacity
- Below 10 Liter Line Marking Robots
- 10-15 Liter Line Marking Robots
- 15-20 Liter Line Marking Robots
- Above 20 Liter Line Marking Robots
By End User
- Sport Authorities
- District / State Level
- Recreational Parks
- Youth Clubs
- Sport Authorities
Majority of the companies discussed in the report have focused on expansion, investments, acquisitions, delivery focus, portfolio expansion, and brand development.
Some of the key developments are:
- In 2020, two leading companies – Tiny Mobile Robots and Turf Tank – secured funding from various sources. Tiny Mobile Robots secured funding of US$ 2 Mn from an angel investor. Similarly, Turf Tank secured an investment of US$ 13.5 Mn from a Danish-based company.
Similarly, recent developments related to companies offering line marking robots have been tracked by the team at Fact.MR, which are available in the detailed report.