Service Robotics Market By Type (Professional service robotics, Personal service robotics), By Application (Healthcare, Defense, Field, Logistics, Construction, Domestic, Entertainment, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030
The global service robotics market size was valued at $21,684.5 million in 2020, and is projected to reach $153,684.5 million by 2030, registering a CAGR of 21.2% from 2021 to 2030.Service robots are intelligent automated machines that are programmed to assist human workforce in various applications such as healthcare, medical, construction, logistics, entertainment, and domestic. These robots are designed to perform various operations, dangerous tasks, and repetitive tasks in different sectors. Adoption of service robots allows companies to enhance productivity & quality and minimize human error. These service robots are utilized for various activities such as detecting & defusing bombs, surgical assembling products, product inspection, surgical operations, cleaning and household chores.
The service robotics market is driven by increase in automation and surge in demand for enhanced productivity and delivery of high quality products. Furthermore, surge in R&D investments across the globe in various countries and rise in labor costs have created growth opportunity for service robots in various applications. Moreover, robotics helps in reducing labor operating cost in commercial facilities by carrying out operations such as advertising, delivering, and scanning. In addition, the need for surveillance has become essential in all commercial sectors for safety of facilities. This has led to upsurge in demand for security & inspection robots. However, high initial installation cost and high maintenance costs of service robots has restrained the market growth. In addition, fluctuations in raw materials and semiconductors prices have negatively impacted the growth of global service robotics market.
Furthermore, large number of service robotics devices is manufactured by major key players in the market to overcome human error and to increase productivity. For instance, in June 2020, Hyundai Robotics launched its mobile service robot that analyzes the person’s image by recognizing in camera and providing voice responses. Similarly, in September 2021, Hyundai Motor Group introduced factory safety service robot for industrial site safety. It is equipped with AI and autonomous navigation system, which detects danger such as fire hazard and send warning alarms.
The market is segmented on the basis of type, application, and region. On the basis of type, the market is divided into professional service robots and personal service robots. On the basis of application, the market is divided into healthcare, defense, domestic, construction, logistics, field, entertainment & leisure, and others. Region wise, the global market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competition Analysis
The key players that operate in the global service robotics are iRobot Corporation, Intuitive Surgical, Inc., Honda Motor Co., Ltd., Panasonic Corporation, Aethon, Inc., Yujin Robot Co., Ltd., GeckoSystems Intl. Corp., Samsung Electronics Co., Ltd., Robert Bosch GmbH, and AB Electrolux.
Key Benefits For Stakeholders
The report provides an extensive analysis of the current and emerging service robotics market trends and dynamics.
In-depth service roboticsmarket analysis is conducted by constructing market estimations for key market segments between 2021 and 2030.
Extensive analysis of the service robotics market is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global service robotics market forecast analysis from 2021 to 2030 is included in the report.
The key players within service robotics market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the service robotics industry.
Key Market Segments
By Application
Healthcare
Defense
Field
Logistics
Construction
Domestic
Entertainment
Others
By Type
Professional service robotics
Personal service robotics
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
iRobot Corporation
Intuitive Surgical Inc
Honda Motor Co., Ltd.
Panasonic Corporation
Aethon Inc.
Yujin Robot Co. Ltd.
Samsung Electronic CO., Ltd.
DeLaval
robert bosch gmbh
AB Electrolux
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