Service Robotics Market - Global Industry Analysis

Service Robotics Market

Service Robotics Market (Professional Service Robots And Personal Service Robots) For Health Care, Defense, Agriculture, Logistics, Aerospace, Research And Development And Other Applications: Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028

Published Date: 11-Aug-2021 Category: Technology & Media Report Format : PDF Pages: 120 Report Code: ZMR-865 Status : Published

The global Service Robotics Market accounted for USD 19.07 Billion in 2020 and is expected to reach USD 39.19 Billion by 2028, growing at a CAGR of 8.9% from 2021 to 2028.

Description

Market Overview   

The global Service Robotics Market accounted for USD 19.07 Billion in 2020 and is expected to reach USD 39.19 Billion by 2028, growing at a CAGR of 8.9% from 2021 to 2028.    

A service robot may be a robot that performs useful tasks for humans or equipment without an industrial automation function. Service robots help humans by performing employment that's dull, distant, and repetitive, including household chores. there are two major sorts of service robotics like professional service robots and private service robots. Personal service robots are used for non-commercial jobs, for instance, domestic servant robots, pet exercising robots, personal mobility assists robots and automatic wheelchairs. A knowledgeable service robot is employed for a billboard task and operated by a well-trained operator for instance surgery robot in hospitals, a cleaning robot for public places, a fire-fighting robot, and a delivery robot in offices or hospitals.  

Global Service Robotics Market Size

COVID-19 Impact Analysis:

The COVID-19 pandemic had an extraordinary impact on several industries. The markets are adversely impacted due to the temporary closure of assembly plants across the world. Due to government-imposed lockdowns to prevent the spreading of COVID, the global service robotics industry has seen a small decline in revenues in the short. The players in the industry are experiencing irregularity in demand across the globe. The management and workforce are struggling to meet business targets while surviving at basic livelihood needs. The pandemic has hit various industries such as Construction, Oil & Gas, Paint & Coatings, among others drastically, which directly impacted the market. The shutdown of export and imports resulted in diminished demand at a service station.

Growth Factors

The growing demand for Service Robotics in various end-user industries including construction, personal care, industrial process, and consumer goods is expected to drive market growth. The high adoption of service robotics in personal and professional applications is a major factor in driving the growth of this market. Also, high demand in the defense sector of service robotics is fueling the market growth. However, the high price associated with the development of service robots is expected to hamper market growth shortly. Moreover, strong demand from healthcare and defense sectors across the globe is expected to open new growth opportunities for service robotics in upcoming years.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Segment Analysis Preview

Based on the type, the service robotics market is divided into professional service robotics and personal robotics service. Professional service robotics accounted for the highest share in 2018 due to the accomplishment of various tasks with or without the direct intervention of humans and is expected to record the highest CAGR over the forecast period. By application, service robotics market demand is mainly propelled by the healthcare and defense sector.  

Regional Analysis Preview

North America held the highest market share due to a quick rise in product development capacities and industrialization. Furthermore, the rapidly growing automotive industry in North America is also expected to drive the demand for the overall industry. Due to emerging economies such as India, Japan, and China, Asia Pacific is estimated to show the fastest growth for the service robotics market.

Global Service Robotics Market Share

Key Market Players & Competitive Landscape

The key participants in service robotics pace are Touch bionics Ltd, iRobot Corporation, Samsung Techwin Co. Ltd., AB Electrolux, Robert Bosch GmbH, Mako Surgical Corporation, Panasonic Corporation Intuitive surgical Inc., Honda Motors Co. Ltd., Dyson Ltd. and others.

Global Service Robotics Market Regional Analysis

The global Service Robotics market is segmented as follows:  

By Product

  • Professional Service Robots
  • Personal Service Robots

By Application 

  • Healthcare
  • Defense
  • Agriculture
  • Logistics
  • Aerospace
  • Research and development
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

Free Analysis

Service robots are used in industries and for the domestic purpose to aid a human in performing a job which is recurring and hard for humans to perform. Service robotics is used to perform everyday jobs that are repetitive, dull, dangerous, and dirty in nature. A service robot is a robot that performs useful tasks such as lawn mowing, automatic floor mopping, dishwashing, and much more for humans apart from their industrial uses. There are two major types of service robots such as professional service robots and personal service robots. Personal service robots are used for household work and entertainment and professional service robots are used for a commercial task like defense, health care, logistics, agriculture and others.

A major factor for driving the service robotics market is strong demand from defense and healthcare sectors. Further, increase in the demand from urban households for domestic cleaning, home security and surveillance are anticipated to support the service robotics market growth. Advancement in technology to develop autonomous and safe robots is expected to fuel market growth in coming years. However, the high price of service may curb the demand for service robotics over the forecast period. Nonetheless, rising application areas globally are expected open new avenues for the market growth over the next few years. Moreover, ongoing research & development in the field of service robotics is expected to offer potential growth opportunity for this market.

Global-Service-Robotics-Market

Service robotics market is segmented on the basis of product, application, and region. On the basis of product, the service robotics market divided into professional service robots and personal service robots. By application, the market is bifurcated into healthcare, defense, logistics, agriculture, research & development. Defense and healthcare sectors are leading sectors in service robotics market. In the healthcare sector, the robots are used for surgery training which is expected to fuel service robotics market demand in future.  Pharmaceutical is expected to show the robust demand of service robotics over the forecast period.

Due to rising usage of service robotics in defense, automotive and healthcare, demand for service robotics was the highest in North America. North America is followed by Asia-Pacific and Europe in terms of demand. In Europe, service robotics market is mainly driven by manufacturing industry and expected to show sizable growth in next coming decade. Asia Pacific is expected to be the fastest-growing region to the growing economies in the region such as China, India, and Japan among others.

The report also includes detailed profiles of end players such as Samsung Techwin Co. Ltd., Touch bionics Ltd, AB Electrolux, iRobot Corporation, Robert Bosch GmbH, Mako Surgical Corporation, Intuitive surgical Inc., Honda Motors Co. Ltd., Panasonic Corporation and Dyson Ltd.

FrequentlyAsked Questions

The global Service Robotics Market was valued at USD 19.07 Billion in 2020.

The global Service Robotics Market is expected to reach USD 39.19 Billion by 2028, growing at a CAGR of 8.9% between 2021 to 2028.

The high adoption of service robotics in personal and professional applications is a major factor in driving the growth of this market. Also, high demand in the defense sector of service robotics is fueling the market growth.

North America in 2020 ruled the Service Robotics Market and was believed to be the highest income-generating area all over the globe.  

The key participants in service robotics pace are Touch bionics Ltd, iRobot Corporation, Samsung Techwin Co. Ltd., AB Electrolux, Robert Bosch GmbH, Mako Surgical Corporation, Panasonic Corporation Intuitive surgical Inc., Honda Motors Co. Ltd., Dyson Ltd. and others.

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