The requirement to increase labor costs in emerged nations coupled with rising instances of support living are factors likely to boost the worldwide service robotics industry growth. Furthermore, these computer-controlled devices handle everyday mundane tasks with high degree of accuracy and assist in executing tasks that are relatively difficult. In order to gain market share in service robotics industry, several companies are now developing automation techniques. Manipulators, sensors, actuators, power supply and microcontrollers are they key components in the market. Innovation and technology proliferation are the key drivers which will ultimately outcome downfall of prices of overall service robotics market. Furthermore, funds and favorable government grants, ageing population, venture capital investments are few factors that will impact the market growth positively. Although, network robots and human safety are expected to restrain the industry growth.
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Professional and personal service robotics are the key application segments in global service robotics market. Furthermore, there are four key professional services robotics application such as medical, defense, logistics and field. Medical robots have gained extensive acceptance owing to their support in robot and therapy assisted surgery while field robot contributed for 25% of market share Moreover, robot for defense purposes have gained significant share in 2012 resulting their increased usage in unmanned aerial vehicles among others. They are chiefly used for the milking, mining, agriculture and forestry purposes. Services robotics are also used in applications such as underwater, mobile platforms, inspection & rescue and cleaning. Personal service robotics contributed for less revenue share and have different pricing channel. They are mainly used for lawn mowing, handicap assistance, research and entertainment etc.
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Asia Pacific is estimated to lead the service robotics market further, chiefly owing to considerable developments in regions such as South Korea and Japan. The U.S is anticipated to grow fastest and cross over significant market share over the forecast period. In addition, development of production capacities coupled with rapid industrialization in North America, will boost the market growth in the region. Increasing production and manufacturing bases in regions such as China and India will impact the growth positively. LG Electronics Inc., GeckoSystems, AB Electrolux, Hondo Motors Co. Ltd, Samsung Electronics, iRobot Corporation, Fujitsu Frontech Limited, Toyota Motor Corporation and Yujin Robot.
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