A new market study, titled “Service Robotics Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Global Service Robotics Market
A service robot is a robot which operates semi or fully autonomously to perform services useful to the well-being of humans and equipment, excluding industrial automation applications. They are capable of making decisions and acting autonomously in real and unpredictable environments to accomplish determined commercial tasks and are usually operated by a trained operator.
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Service robots that make up for the labor shortage caused by factors such as the declining birth-rate and aging population are expected to see a substantial increase in use in the future. Service robots are used for a variety of everyday life applications including cleaning, security or guest reception. A significant factor in the strong future of service robots for professional use is the introduction of the Robots-as-a-Service (RaaS) model of ownership. By leasing either the cloud computing capabilities or the robot itself, the capital barriers to adoption are effectively minimized. Service Robots are programmed to learn and improve their knowledge while in operation due to machine learning.
Agriculture robots can transmit important visual data to monitor the health of crops and livestock. Customer service robots can even track customer behavior during face-to-face encounters to gain a deeper understanding of consumer motivations and desires. Large, multinational companies have been the early adopters of our robots, and they are investing in continuously larger fleets of robots after a period of testing different applications and validating the economic benefits. As Cost of service robots decreases, they will become more mainstream. These factors will contribute significantly to the market growth and will provide a rapid expansion of the market within the forecast period.
Service Robotics Market is segmented by personal use and professional use. Service robots are primarily used for the professional purpose. Personal use of service robots involves Lawn-mowing, vacuuming, floor & window cleaning, Entertainment robots, and Elderly and handicap assistance.
By application, Global Service Robotics Market is segmented into Logistic systems, Defense applications, Public relation robots, Field robots, Powered human exoskeletons, and Medical robots. By market value, Logistic systems accounted for more than one-third of professional service robots sales in 2017. The service robots used in defense are mostly unmanned aerial vehicles. Unmanned ground-based vehicles and demining robots are the other robots used in defense applications. The service robots used as public relation robots were mostly telepresence robots, robots for mobile guidance and information. Field robots segment primarily consists of milking robots. The most critical application of medical service robots are robot-assisted surgery or therapy. Medical robots are the most valuable service robots in terms of unit price. Medical robots and logistic systems are expected to be the fastest growing segment.
By region, Service robotics market is segmented into North America, South America, Europe, Asia-pacific, and rest of the world. The US has the largest defense budget in the world by a wide margin. Defense application is a major driver for service robotics market is North America region. Logistics systems are also widely employed in both North America and Europe. The aging population is a crucial factor for the growth of service robots in Europe and Japan which are facing a population crisis. North America dominated the service robotics market followed by Europe. North America will continue to exhibit strong growth due to the presence of various innovative companies and increasing adoption of service robots in the retail industry.
Some of the major players in the Service robotics market are Northrop Grumman, KUKA, iRobot, Kongsberg Maritime, Parrot SA, Kongsberg Maritime, DJI, Intuitive Surgical, ECA Group, Aethon, and Omron Adept. Service robotics market is characterized by the presence of multiple start-ups and other large conglomerates making entry into service robotics market.
In October 2018, Vecna Robotics, a leader in next-generation mobile robotics, and RightHand Robotics, a leader in robotic picking solutions, announced a collaboration to improve the performance of e-commerce order fulfillment. In November 2018, LG announced to develop service robot to assist supermart shoppers.
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• Visualize the composition of the Service Robotics Market across each indication, in terms of type, application highlighting the key commercial assets and players.
• Identify commercial opportunities in the Service Robotics Market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of the Service Robotics Market level 4/5 segmentation
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
• Product mapping in excel for the key Service Robotics Market products of all major market players
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Table of Contents
1. Global Service Robotics Market – Methodology and Scope
1.1. Research Methodology
1.2. The scope of the Report
2. Global Service Robotics Market – Trends
2.1. Key Trends & Developments
3. Global Service Robotics Market – Industry Analysis
3.1. Industry Impact Factors (Drivers & Restraints)
3.2. Competitive Intensity- Porter 5 Forces
3.3. Regulatory Analysis
4. Global Service Robotics Market – By Type
8. Global Service Robotics Market – Company Profiles
8.1. Northrop Grumman
8.4. Kongsberg Maritime
8.5. Parrot SA
8.6. Kongsberg Maritime
8.8. Intuitive Surgical
8.9. ECA Group
8.11. Omron Adept
Note: Additional company profiles will be included on client request.
9. Global Service Robotics Market – Appendix
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