Service Robotics Market Overview:
Global service robotics market is expected to garner $34.7 billion by 2022, registering a CAGR of 23.9% during the forecast period 2015 - 2022. Service robots are the robots designed to assist humans and perform useful tasks, excluding industrial and manufacturing automation applications. They operate semi- or fully automatically and are capable of performing tedious & dangerous tasks, and providing enhanced efficiency and increased safety.
Service robots have witnessed widespread acceptance among various professional and personal applications owing to benefits such as enhanced usability, delivery of accurate and high-quality services, reliability, and reduced operational costs and human errors. Professional service robots are employed in various industries including healthcare, defense and security, agriculture, forestry, logistics, construction, and professional cleaning among others, whereas personal service robots are used for domestic and entertainment purpose. Service robotics has witnessed an upsurge in its adoption owing to high labor cost, lack of skilled workforce, increased investments in R&D, growing awareness regarding the benefits of service robots, and increased demand for automation among professional and personal sectors. However, high initial investment and concern for human safety limit the growth of the market. Moreover, increasing adoption of smartphones, growing application areas, and growth in emerging economies are likely to provide numerous growth opportunities in the market.
The report provides a detailed analysis of the segments of global service robotics market along with their revenue and volume. The professional service robots account for a higher revenue share as compared to personal service robots owing to their increasing adoption in healthcare, defense, and field industries. Vendors in the market offer a wide range of service robots for assistance in various applications. In addition, they are acquiring and collaborating with top companies in the market to enhance their offerings and expand their customer base. For instance, in the year 2014, Intuitive Surgical, Inc. launched the da Vinci Xi Surgical System for minimally invasive surgeries. In March 2016, iRobot Corporation launched Braava jet Mopping Robot, which is designed for mopping and cleaning purpose, to expand its offerings in personal applications. In June 2015, Aethon Inc. launched automated kit replenishment solution, MedEx TraySafe to improvise in the field of pharmacy logistics management to further enhance its offerings in the healthcare sector. In February 2016, GeckoSystems Intl. Corp. collaborated with IC-Japan, which is a robotics solution provider, to enhance its geographical expansion and improve its technical expertise. In 2012, iRobot Corporation acquired Evolution Robotics to expand its technology leadership and geographical outreach. Other prominent players in the market include Honda Motor Co., Ltd., Panasonic Corporation, Yujin Robot, Co., Ltd, Samsung Electronics Co., Ltd., Robert Bosch GmbH, and AB Electrolux.
The global service robotics market is segmented on the basis of type, application, and geography. Based on the type of service robots, the market is segmented into professional service robots and personal service robots. The application segment is categorized into healthcare, defense, domestic, construction, logistics, field, and entertainment & leisure. The global service robotics market is analyzed on the basis of different geographical regions, which include North America, Europe, Asia-Pacific, and LAMEA.
- This study provides an in-depth analysis of the global service robotics market along with current trends and future estimations to elucidate the imminent investment pockets for stakeholders.
- This report presents information regarding key drivers, restraints, and opportunities along with their impact analysis.
- Porter’s Five Forces and SWOT analyses of key market players in the industry highlight the growth strategies adopted by these players.
- The value chain analysis of the industry signifies the key intermediaries involved and elaborates their roles and value additions at every stage.
- The quantitative analysis of the market in terms of revenue and volume generated by service robots worldwide has been provided from 2014 to 2022 to elaborate the market potential.
SERVICE ROBOTICS MARKET SEGMENTATION
The service robotics market is segmented based on type, application, and geography.
Market by Type
- Professional Service Robots
- Personal Service Robots
Market by Application
- Professional Applications
- Surgical Robots
- Rehabilitation Robots
- Hospital and Pharmacy Robots
- Others (Diagnostic Robots, Emergency Response Robotic Systems, Prosthetics/Exoskeletons)
- Defense, Rescue, and Security
- Unmanned Aerial Vehicles (UAV)
- Unmanned Ground Vehicles (UGV)
- Firefighting and Disaster Management Robots
- Others (Professional Surveillance/Security Robots, Demining Robots)
- Factory Logistics Robots
- Outdoor Logistics Robots
- Others (Cargo Handling Robots, Mail Sorting Robots)
- Excavator Robots
- Bulldozer Robots
- Demolition Robots
- Others (Welding Robots, Material Handling Robots)
- Agriculture Robots
- Forestry Robots
- Milking Robots
- Others (Mining Systems, Space Robots)
- Professional Cleaning Robots
- Inspection and Maintenance Systems
- Others (Underwater Systems, Hotel and Restaurant Robots)
- Personal Service Robotics
- Cleaning Robots
- Assistive Robots
- Others (Lawn-Mowing Robots, Home Security & Surveillance Robots)
- Entertainment and Leisure
- Toy Robots
- Education & Research Robots
- Others (Robotic Companion Pets and Multimedia Robots)
Market by Geography
- North America