Service Robotics Market

Global Service Robotics Market is valued at USD 35.24 Billion in 2020 and is expected to reach USD 140.94 Billion by 2027 with a CAGR of 21.9% over the forecast period.

Global 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 is anticipated to drive the growth of the Global Service Robotics Market.

Scope of Global Service Robotics Market Report:-

Service robotics include 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 care, 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 the Rest of the World. On the basis of country level, the market of service robotics is subdivided 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.

Service Robotics Companies:

Some major key players for the 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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Global Service Robotics Market Segmentation:

The global service robotics market is segmented on the basis of types, applications, and region & country level. Based upon the type, the 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.

By Types:

• Professional
• Personal

By Application:

• Medical
• Defense, Rescue, and Security
• Logistics
• Construction and Demolition
• Domestic
• Entertainment and Educational
• Research and Space Exploration
• Others

News-

RedZone Robotics Introduced a New Technology for Manhole Condition Assessment

On April 12^th, 2021; RedZone Robotics, a robotics company based in the United States, has introduced new technology to reduce the risk of sanitary sewer overflow (SSO) events triggered by damaged manholes. It announced the launch of VertueTM, a cutting-edge multi-sensor inspection (MSI) tool for manhole inspections. Because of Virtue, utility operators are able to capture full multi-sensor data, including 360o high definition imagery, laser, and positioning of their manholes in a reliable way. The level of detail are able to produce in interactive 3D models is better than anything out there on the market. If the manholes in the city’s network are in poor condition, this could lead to significant infiltration of clear water during wet weather events. Since the release of untreated or partially treated waste from a municipal sanitary sewer, sanitary sewer overflow events (SSOs) pose a significant challenge for utilities in the United States. These incidents may result in substantial fines for a utility due to environmental concerns, health risks, and even property damage. With Vertue, RedZone Robotics will now assist utilities in ensuring the condition of manholes in their network.

Increasing Innovation in Technology, Aging Population and Growing Applications in Various Industries are Some of the Major Factors Driving the Market Growth

The major factors driving the growth of the global service robotics market are increasing innovation in robotics technology and the growing aging population coupled with the rising need for help in various household chores. Its increasing adoption in the healthcare sector is also fostering market growth. In the current pandemic situation, service robots are performing various tasks such as executing delicate procedures, disinfection, cleaning, drug delivery and it helps to keep humans safe from virus infection so that humans can practice social distancing. Thus, all these various advantages in the health care sector are increasing its demand.

Furthermore, the rising standard of living is also supplementing the demand for service robots and hence augmenting the service robotics market growth. For instance; according to the International Federation of Robotics, the market for professional service robots grew strongly in 2019 by 32% from USD 8.5 billion to USD 11.2 billion. Turnover with medical robotics has increased by 28% in 2019, accounting for 47% of the totally professional service robot turnover, logistics robots account for 43% of the total units of professional service robots. The number of units sold increased by 42% in 2019 and turnover increased by 110%. Defense applications accounted for 15% of the total sales of professional service robots. The segment of field robotics grew by 3% in terms of turnover and by 8% in terms of units.

However, service robotics requires high initial investment and high maintenance cost which may hamper the market growth. In spite of that, service robots perform many tasks more efficiently and effectively as well as can minimize the workload of humans and increasing advancements in this sector can provide various opportunities for the further growth of the market. 

North America is Anticipated to Capture the Significant Share in  the Global Service Robotics Market

The global service robotics market is segmented into North America, Europe, Asia-Pacific Latin America, and Middle East & Africa. North America has also anticipated to capture a significant share of the global service robotics market due to the increasing investment in research and development and increasing automation & industrialization in this region. For instance, According to the Journal of World Robotics 2018, almost 35% of manufactures of service robots are from North America. And according to the International Federation of Robotics 2020, about 90% of medical robots are from American and European suppliers. Various international and local organizations have also established assembly plants in this region, making it an ideal location for a multibillion-dollar service robotics market.

Europe is also anticipated to witness impressive growth in this market due to increasing demand from sectors like defense, logistics, construction, and medical. According to the World Robotics 2017, most field robots are produced in Europe about 91% of the global supply in 2016, as well as construction and demolition robots about 90%, defense applications (53%), underwater systems (67%), and medical robotics (52%).

Report Analysis	Details
Historical data	2015 - 2020
Forecast Period	2021 - 2027
Market Size in 2020:	USD 35.24 Billion
Base year considered	2020
Forecast Period CAGR %:	21.90 %
Market Size Expected in 2027:	USD 140.94 Billion
Tables, Charts & Figures:	175
Pages	200
Service Robotics Companies:	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
Segments Covered	By Type, By Application
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

Key Benefits for Global Service Robotics Industry Report:-

• Global Service Robotics Industry report covers in-depth historical and forecast analysis.
• Global Service Robotics Industry research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Service Robotics Companies, Competitive Analysis, Regional and Country levels.
• Global Service Robotics Industry report helps to identify opportunities in the marketplace.
• Global Service Robotics Industry report covers extensive analysis of emerging trends and competitive landscape.

On Special Requirement Service Robotics Market Report is also available for the below Regions and Country:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

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