The Service Robotics Market is projected to grow from USD 35.24 Billion in 2020 to USD 140.94 Billion by 2027, driven by technological advancements and increased automation.
Market Overview:
Service Robotics Market is valued at USD 35.24 Billion in 2020 and expected to reach USD 140.94 Billion by 2027 with a CAGR of 21.9% over the forecast period.
Service Robotics Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- The increasing technological advancements in this field, growing automation and rising standard of living are anticipated to drive the growth of Service Robotics Market.
Key Players for Service Robotics Market Report:
Some major key players for global service robotics market report cover prominent players like Daifuku Co. Ltd, Dematic Holding, DJI, Honda Motor Co. Ltd., Intuitive Surgical Inc., iRobot Corporation, KUKA AG, Kongsberg Maritime AS, Kollmorgen Corporation, Lely International, Neato Robotics, Northrop Grumman Corporation, Omron Corporation, SoftBank Robotics Group, Yujin Robot Co. Ltd. and others.
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Scope of Service Robotics Market Report:
Service robotics includes the robots that perform useful tasks for humans or equipment except for industrial automation applications. Service robots assist human beings, typically by performing a job that is dirty, dull, distant, dangerous, or repetitive, including household chores. They typically are autonomous and/or operated by a built-in control system, with manual override options. There are two types of service robotics which include; professional service robotics and personal service robotics. Professional service robotics has wide applications in various sectors such as medical, offices, cleaning, construction, defense, security, agriculture, and other fields while personal service robotics are used for household chores, home assistants, personal cares, driverless cars, and entertainment. Professional service robots perform repetitive, dangerous, hectic work and time-consuming tasks thereby releasing human workers to accomplish more intellectual functions. Demand for service robotics is increasing because of its increasing application in various sectors. The difficulties in managing day-to-day tasks, workloads, and intensive operations are adding up to the demand for these robots due to their high operational efficiency features.
During the Covid-19 pandemic, the careful steps taken by governments of different nations have led to the temporary suspension of organizations and disturbance in the supply chain network of the market. However, service robots perform various tasks in healthcare such as remote checking, disinfection, drug delivery, cleaning, and many more so this can help to increase the demand of the service robotics market.
The regions covered in this global service robotics market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of service robotics is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Segmentations:
Service Robotics Market is segmented on the basis of types, application and region & country level. Based upon type, service robotics market is classified into personal and professional. Based upon application, the market is divided into medical, defense, rescue and security, logistics, construction and demolition, domestic, entertainment and educational research and space exploration and others.
Regional Analysis:
North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
Table of Content:
1.1. Research Process
1.2. Primary Research
1.3. Secondary Research
1.4. Market Size Estimates
1.5. Data Triangulation
1.6. Forecast Model
1.7. USP’s of Report
1.8. Report Description
2.1. Market Introduction
2.2. Executive Summary
2.3. Global Service Robotics Market Classification
2.4. Market Drivers
2.5. Market Restraints
2.6. Market Opportunity
2.7. Service Robotics Market: Trends
2.8. Porter’s Five Forces Analysis
2.9. Market Attractiveness Analysis
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The article discusses the growth and key players in the Service Robotics Market, with a forecast till 2027.
Key players include Dematic Holding, DJI, Honda Motor Co. Ltd., Intuitive Surgical Inc., and others.
Technological advancements, growing automation, and rising living standards are driving the market growth.
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