Service Robotics Market Size, Share & Trends Analysis Report By Application (Professional, Personal), By End Use (Defense, Field, Medical, Transportation And Logistics, Construction), By Region, And Segment Forecasts, 2024 - 2030

Service Robotics Market Size, Share & Trends Analysis Report By Application (Professional, Personal), By End Use (Defense, Field, Medical, Transportation And Logistics, Construction), By Region, And Segment Forecasts, 2024 - 2030

Service Robotics Market Growth & Trends

The global service robotics market size is expected to reach USD 107.75 billion by 2030, registering a CAGR of 12.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The demand for the global service robotics is anticipated to surpass 18 million units by 2020. The major factor driving the industry is the rising occurrences of supported living and the demand to fight against increasing costs of labor in the developed countries.

The foremost advantage offered by service robotics includes assistance in carrying out those tasks which would otherwise have been tough and risky. Moreover, the ordinary routine tasks can be effortlessly dealt with having a high degree of accuracy with the help of these devices.

The global industry has witnessed a massive growth in the number of companies trying to enter the industry and gain share by evolving and refining their automation techniques. The components involved in the manufacturing these machines include microcontrollers, actuators, manipulators, sensors, and power supply.

Service Robotics Market Report Highlights

• The mobile platforms segment held the largest revenue share of 32.9% in 2023. However, the highest revenue generating segment included professional robots. These professional service robots accounted for over 70% of the global market in that year. Professional service robots are further segmented into field, medical, defense, and logistic robots.
• The North America region followed Europe and APAC captured 27.6% market share in 2023. The U.S. was the primary revenue generator of North America. This high growth in the region can be attributed to the quick rise in the development of production capacities as well as industrialization. Furthermore, the rapidly growing automotive industry in North America is also projected to drive the demand for the overall industry.
• The global service robotics industry is highly branded as there is intense competition between the specialized service robot manufacturers and the industrial robot manufacturers.

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