Global Service Robotics Market 2024-2028
Technavio has been monitoring the service robotics market and is forecast to grow by USD 90412.8 mn during 2023-2028, accelerating at a CAGR of 30.25% during the forecast period. Our report on the service robotics market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing demand for robotic automation processes, increasing adoption of robotics in diverse application fields, and increasing use of IoT in robots for cost-effective predictive maintenance.
Technavio's service robotics market is segmented as below:
By Application
- Professional robots
- Personal robots
By Environment
By Geography
- APAC
- Europe
- North America
- Middle East and Africa
- South America
This study identifies the government support for robotics as one of the prime reasons driving the service robotics market growth during the next few years. Also, strategic collaboration, partnership, and merger and acquisition and expansion of new plants, offices, and locations will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the service robotics market covers the following areas:
- Service robotics market sizing
- Service robotics market forecast
- Service robotics market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading service robotics market vendors that include Electrolux group, AMP Robotics Corp., Blue Ocean Robotics, Cyberdyne Inc., Daifuku Co. Ltd., Diligent Robotics Inc., Exyn Technologies, Guangzhou XAG Co. Ltd., Harvest CROO Robotics LLC, Intuitive Surgical Inc., Irobot Corp., Kongsberg Gruppen ASA, Northrop Grumman Corp., Samsung Electronics Co. Ltd., Singapore Technologies Engineering Ltd., SoftBank Group Corp., Starship Technologies Inc., SZ DJI Technology Co. Ltd., Tetra Laval SA, and YUJIN ROBOT Co. Ltd.. Also, the service robotics market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.