Service Robotics Market – Overview
The trend of automation has gained significant traction and has contributed to the expansion of service robotics. Reports that evaluate the semiconductors and electronics industry have been made available by Market Research Future which creates reports on several industry verticals that review the market growth and prospects. The market is anticipated to achieve USD 20 Billion while progressing at a 15% CAGR in the forecast period.
The expansion of the e-commerce sector globally is expected to motivate the growth of the Service Robotics Market. Moreover, the e-commerce sector is expected to continue its upward growth curve and will thus be crucial to the growth of service robotics. The improvements in AI, advanced sensor technology, Lidar/Radar and GPS are predicted to create viable opportunities for growth in the service robotics market in the approaching period.
Feb 2019 CloudMinds Technology, a Chinese startup which is a developer of robotic solutions and cloud artificial intelligence, recently launched the XR-1 humanoid service robot. The highly intelligent service-oriented humanoid robot signifies a new level of technology growth and commercialization in the zone of intelligent robotics. It’s driven by two innovative technologies called Smart Compliant Actuators (SCAs) and Human Augmented Robotic Intelligence with Extreme Reality (HARIX).
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The prominent players in the Service robotics Market are – GeckoSystems Intl. Corp. (U.S.), Honda Motor Co. Ltd. (Japan), Adept Technology, Inc. (U.S.), KUKA AG (Germany), iRobot Corporation (U.S.), Kongsberg Maritime AS (Norway), DJI (China), Intuitive Surgical, Inc. (U.S.), Parrot SA (France), Grumman Corporation (U.S.), Fujitsu Frontech Limited (Japan), LG Electronics Inc. (South Korea), Samsung Electronics Co., Ltd. (South Korea) among others
The segmentation of the service robotics market is carried out on the basis of type, end-user, and region. On the basis of type, the service robotics market is segmented into domestic and professional. Based on end-users, the service robotics market is segmented into construction, defense, healthcare, electronics, transportation, automotive, supply & logistics, media & entertainment. The regions included in the service robotics market are Asia Pacific, North America, Europe and the rest of the world.
Detailed Regional Analysis
The regional study of the service robotics market comprises of regions such as Asia Pacific, North America, Europe and the rest of the world. The current global trend towards robotics is being replicated in an increase in the number of service robots in the US. The analysis indicates that the North American region is controlling the service robotics market and is shadowed by the European region. The study also reveals that the North American and European region would demonstrate simultaneous growth that would dominate the service robotics market in the forecast period. This primarily due to factors such as an augmented demand of service robots by the medical, defense, construction sectors and an inclination towards automation.
The review also observes that the Asia Pacific region would be the fastest increasing region in the service robotics market in the forecast period.
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- Technology investors
- Robot component and equipment manufacturers and suppliers
- Robot manufacturers and suppliers
- System designers and machine manufacturers
- Product manufacturers
- Robot system and software programmers
- Analysts and strategic business planners
- Research labs and research institutes
- System Integrators
- Government Organizations
- Research/Consultancy firms
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