Service Robotics Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Service Robotics Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : August, 2020 | Semiconductor & Electronics | PPT format

Report Digest


Global Service Robotics Market: Overview

Service robots efficiently and tirelessly perform common human tasks that are otherwise considered repetitive, dull, and time-consuming, such as everyday household jobs.  There can be two major types of service robots – personal service robots who undertake non-commercial jobs such as domestic service, personal mobility assistance, and pet exercising, and professional service robots who perform commercial and delicate tasks such as surgery in hospitals, defense and security, fire-fighting, cleaning of public places, and goods delivery. In the recent past, service robotics have become highly useful for several applications for their accurate delivery, enhanced usability, and the quality of service provided at reduced operation cost. Consequently, the demand in the global service robotics market is estimated to expand at a robust rate during the forecast period of 2017 to 2025. 

Global Service Robotics Market: Key Trends

With the automation of logistical purposes in warehouse in order to increase the efficiency, the demand for mobile-robotic is escalating, which is the primary factor driving the global service robotics market. Moreover, growing demand from the healthcare sectors and implementation of service robotics in research institutes and education are two other prominent factors favoring the expansion of the global service robotics market. Owing to high cost of skilled labor and the lack of accuracy, the demand for service robotics is surging, increased investments for research and development of enhanced service robots, ubiquity of smartphones, growing awareness pertaining to the availability of these robots, and escalating demand from the automation sectors are some of the other factors that are expected to positively reflect on the market for service robotics during the forecast period. Conversely, high cost associated with service robotics as they are a developing concept, is hindering the market from achieving its true potential. 

Based on operating environment, the global service robotics market can be segmented into ground, aerial, marine, automated guided underwater vehicles, remotely operated underwater vehicles, and unmanned surface vehicles controls. The segment of ground can be further sub-segmented into defense and security, field robotics, medical, logistics, telepresence, domestic tasks, education, entertainment, and personal assistance. By application, the market can be divided into personal usages such as domestic tasks and professional tasks. 

Global Service Robotics Market: Market Potential

Since service robotics market is currently in nascent stage with several functional prototypes, research and development of customized products is opening new opportunities for the players in this market. The adoption of service robotics is also growing due to short-to-medium-term payback period, and hence the companies are encouraged to invest in the production of improved products. 

Global Service Robotics Market: Regional Outlook

The developed countries such as the U.S., the U.K., Canada, and France make Europe and North America the most lucrative regions. In Europe, the market for service robotics is driven by the defense and healthcare sectors while North America is gaining from robust healthcare infrastructure and high adoption rate of new technology among the consumers. Asia Pacific too is rates as an upcoming market for service robotics, especially from emerging economies such as India and China, although high cost associated with service robotics is challenging the widespread adoption. 

Global Service Robotics Market: Competitive Landscape

The level of competition if very stiff between the established players who have the most technological products and the financial might for the constant research and development. Some of the key companies in this market are Parrot SA, KUKA AG, iRobot Corporation, Aethon Inc., Northrop Grumman Corporation, Honda Motor Co. Ltd., Kongsberg Maritime AS, GeckoSystems Intl. Corp., DJI, Intuitive Surgical, Inc., Bluefin Robotics, ECA Group, Adept Technology, Inc., Lely Holding S.a.r.l., and DeLaval International AB.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.