Report Ocean recently released a research report on the Service Robotics Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The service robotics market is anticipated to grow at an exponential compound annual growth rate (CAGR) of 24.9% during the forecast period from 2021-2030. The global service robotics market is forecast to reach a valuation of US$ 240 billion by 2030.
Service robots are operated in semi or fully automatic tasks to perform useful tasks, such as helping humans in threatening and tedious jobs. This robotics reduces the possibility of accidents and enhances efficiency.
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COVID-19 Impact Analysis
The COVID-19 pandemic had rapidly increased the adoption of service robotics to limit the spread of the virus. The applications o service robotics made them convenient for various activities, such as disinfecting and delivering food & medications. Since they enable a contact-free environment, the adoption of service robotics increased. Apart from that, service robotics were employed in the healthcare sector to help the staff. Chinese hospitals registered the purchase of more than 2000 disinfection UVD robotics to spread the appropriate amount of UV-C light to destroy coronavirus.
Factors Influencing
- Technological advancements and growing innovation would fuel the growth of the global service robotics market. SoftBank Robotics Group partnered with Bear Robotics, a robotics, and artificial intelligence company to introduce an efficient robot for the food and healthcare industry. The robot was named SERVI.
- The growing trend of robotics surgeries would propel the market growth in the coming years. Apart from that, increasing geriatric population would create notable opportunities for the market players in the coming years in the healthcare sector.
- The integration of artificial intelligence (AI) and increasing demand for automation would create fruitful opportunities for the market players.
- The market for service robotics is forecast to gain traction, owing to its beneficial application in regular work. This robotics perform tasks with more efficiency, leaving no possibility for human errors. As a result, it would propel market growth.
- The high capital investment associated with the accessories, procurement, and programming activities may slow down the market growth in the coming years.
Geographic Analysis
North America holds dominance in the global service robotics market. It is due to the increasing applications of service robotics in the defense sector.
Apart from that, growing industrialization and the employments of robotics for automation may generate favorable opportunities for the market players. The increasing production of service robotics because of the presence of some prominent players may become another factor for the growth of the North American service robotics market.
The Asia Pacific region is forecast to witness notable growth, owing to the thriving automotive industry, establishment of manufacturing and production.
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Competitors in the Market
- IRobot Corporation
- Honda Motor Company Ltd.
- Intuitive Surgical, Inc.
- GeckoSystems Intl. Corp.
- Daifuku Co. Ltd.
- SZ DJI Technology Co. Ltd.
- Neato Robotics
- YUZIN ROBOT Co. Ltd.
- Samsung Electronics Co. Ltd.
- LG Electronics Inc.
- Other prominent players
Market Segmentation
Service Robotics Market, by Component:
- Hardware
- Airframe
- Sensors
- Cameras
- Actuators
- Power Supply
- Control Systems
- Navigation Systems
- Propulsion Systems
- Others
- Software
Service Robotics Market, by Environment:
- Aerial
- Ground
- Marine
Service Robotics Market, by Type:
- Professional
- Personal and Domestic
Service Robotics Market, by Application
- Domestic
- Medical
- Field
- Defense, Rescue, and Security
- Entertainment, Education, and Personal
- Public Relation
- Inspection and Maintenance
- Logistics
- Construction and Demolition
- Marine
- Research and Space Exploration
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Service Robotics Market, by Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Table of Content
Chapter 1: Global Service Robotics Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Service Robotics market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Service Robotics Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Service Robotics market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Service Robotics market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Service Robotics market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Service Robotics market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Service Robotics business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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