Service Robotics Market By Type (Professional service robotics, Personal service robotics), By Application (Agriculture, Professional cleaning, Inspection and Maintenance, Construction and demolition, Transportation and logistics, Medical, Search, rescue, and security, Hospitality, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global service robotics market size was valued at $2,10,84,540.0 thousand in 2020 and is projected to reach $29,30,87,331.9 thousand by 2032, registering a CAGR of 24.3% from 2023 to 2032. Service robots are intelligent automated machines that are programmed to assist human workforce in various applications such as healthcare, medical, construction, logistics, entertainment, domestic, and others. 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 of products, product inspection, surgical operations, cleaning, and household chores.
The service robotics market is experiencing significant growth driven by increase in trend toward automation, rise in demand for enhanced productivity, and the delivery of high-quality products. This has led to investments by public entities in various countries for the development of robots in their country. Countries such as China, India, the U.S., Germany, UAE, and various others have allocated significant resources. The global surge in research and development (R&D) investments across various countries coupled with the increase in labor costs, has created substantial growth opportunities for service robots across diverse applications. Robotics, with its capability to perform operations such as advertising, delivering, and scanning, is effectively reducing labor operating costs in commercial facilities. Furthermore, the imperative need for surveillance to ensure the safety of facilities in all commercial sectors has led to a pronounced increase in the demand for security and inspection robots. However, high initial installation cost coupled with high maintenance costs of service robots have restrained the market growth. Fluctuations in raw materials and semiconductors prices have also negatively impacted the growth of the global service robotics market.
Furthermore, large number of service robots are manufactured by major key players in the market to overcome human error and to increase productivity. For instance, in May 2023, LionsBot International, a manufacturer of cleaning robots in over 30 countries, launched three new products; the R3 Vac, R3 Scrub Pro, and the MagicTag, that revolutionize autonomous professional cleaning. Similarly, in June 2020, Hyundai Robotics launched its mobile service robot that analyzes the person’s image with the inbuilt camera and provides voice responses. Similarly, in September 2021, Hyundai Motor Group introduced factory safety service robot for industrial site safety. It is equipped with AI and an autonomous navigation system, which detects dangers such as fire hazard and sends warning alarms.
The service robotics market is segmented on the basis of type, application, and region. On the basis of type, the market is bifurcated into professional service robotics and personal service robotics. On the basis of application, the market is divided into agriculture, professional cleaning, inspection and maintenance, construction and demolition, transportation and logistics, medical, search, rescue, and security, hospitality, and others. On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, the UK, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Indonesia, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, and Rest of LAMEA)
Competition AnalysisCompetitive analysis and profiles of the major players in the service robotics market are provided in the report. Major companies in the report iRobot Corporation, Intuitive Surgical Inc., Honda Motor Co., Panasonic Corporation, Aethon Inc., Yujin Robot Co. Ltd., Samsung Electronics CO., DeLaval, Robert Bosch GmbH, and AB Electrolux. Major players to remain competitive adopt development strategies such as product launches, business expansion, acquisitions, expansion, partnerships, and mergers.
Key benefits for stakeholdersThe report provides an extensive analysis of the current and emerging service robotics market trends and dynamics.
In-depth market analysis is conducted by constructing market estimations for the key market segments between 2022 and 2032.
Extensive analysis of the service robotics market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
The global service robotics market forecast analysis from 2023 to 2032 is included in the report.
Key market players within the service robotics market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the service robotics industry.
Key Market SegmentsBy TypeProfessional service robotics
Personal service robotics
By ApplicationAgriculture
Type
Cultivation
Milking
Livestock Farming
Others
Professional cleaning
Type
Floor cleaning
Window and wall cleaning
Tank, tube, and pipe cleaning
Hull Cleaning
Disinfection
Others
Inspection and Maintenance
Type
Buildings and other construction
Tank, tube, pipe, and sewers
Others
Construction and demolition
Type
Construction
Demolition
Transportation and logistics
Type
Indoor Environments without public traffic
Indoor Environments with public traffic
Outdoor Environments without public traffic
Outdoor Environments with public traffic
Inventory
Others
Medical
Type
Diagnostic
Surgery
Rehabilitation and non-invasive surgery
Medical laboratory
Others
Search, rescue, and security
Type
Firefighting
Disaster relief
Security services
Hospitality
Type
Food and beverage preparation
Mobile guidance, information, and telepresence
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Indonesia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
UAE
Rest of LAMEA
Key Market PlayersAB Electrolux
Aethon Inc.
Intuitive Surgical Inc.
Panasonic Corporation
Yujin Robot Co. Ltd.
Delaval
Honda Motor Co., Ltd.
Samsung Electronic Co., Ltd.
iRobot Corporation
robert bosch gmbh
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