Service Robotics Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
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.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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