Service robots are robots capable of assisting humans in daily tasks and industrial automation. They are being continuously programmed to understand and respond to human behavior. The global Service Robotics Market report by Market Research Future (MRFR) consists of market variables such as drivers, restraints, opportunities, and threats to be faced by industry leaders for the period of 2016 to 2022 (forecast period). MRFR is a premier research and consultancy firm with the ability of developing market reports replete with accurate data and insights for backing their estimations.
Competitive Scope
Grumman Corporation, Adept Technology, Inc., Parrot SA,
Samsung Electronics Co., Ltd., Fujitsu Frontech Limited, GeckoSystems Intl.
Corp., Kongsberg Maritime AS, iRobot Corporation, Honda Motor Co. Ltd., DJI, LG
Electronics Inc., KUKA AG, Intuitive Surgical, Inc., and others are prominent
developers operational in the global service robotics market.
Development of new robots for handling heavy work in
process-centric industries can drive innovation in the industry. Investments in
new technologies such as machine learning and artificial intelligence can favor
the sales of domestic and professional robots.
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Market Scope
The global service robotics market size is poised to expand to
USD 20 billion by 2022, according to Market Research Future (MRFR). It can
register 15% CAGR over the forecast period. Rising cases of assisted living and
high demand for fighting labor charges in developing countries can drive market
demand. Service robots can be used in elderly care by improving their quality
of life and helping them maintain independence. Increasing population of the
elderly is likely to spur market demand significantly.
The COVID-19 pandemic has created social distancing guidelines
that make it difficult for sustaining production and ensuring growth. Service
robots are being relied in the healthcare sector for disinfecting surgery
suites and patient rooms. New hygiene demands and registration of new types of
disinfection robots in 2020 can drive the trend. A new type of service robots
have been used in screening people and prevent infected people from entering
the premises. Automation of new processes post-pandemic in industrial and other
service-based sectors can drive the overall market demand.
Lack of awareness of robots and low investments in the
industry can hamper market growth.
Segmentation
By type, the market is bifurcated into domestic and
professional. The professional robots segment is anticipated to garner huge
revenue for the market in the coming years. This is attributed to its use in
unmanned aerial vehicles. On the other hand, the domestic robots segment can
attain huge market demand owing to being used for household chores and
surveying the perimeter of houses as an added layer of defense.
By end user, it is segmented into supply & logistics,
media & entertainment, security, defense, construction, healthcare,
automotive, transportation, agriculture, and others.
Regional Analysis
North America, Asia Pacific (APAC), Europe, and
Rest-of-the-World (RoW) are regions segmented in the global service robotics
market report.
North America is anticipated to lead the global market owing
to increased inclination towards automation and need for service robots in
healthcare, construction, and defense sectors. The high growth in the region is
attributed to rising development of production and industrial automation. The
expansion of the automotive industry and use of automated processes in
assembling of vehicles can drive market demand.
APAC would be exhibiting the fastest growth in the service
robotics market owing to being used for overcoming labor shortage in various
industries. Delivery robots have solved logistical deliveries within cities and
being used in delivering blood and urine samples for rapid testing. The ability
of these robots for minimizing human interaction and focusing on service can
bode well for the global market demand.
Industry News
OrionStar has developed 3 service robots embedded with
Qualcomm’s chips. The chips can assist robots in continuously evolving owing to
being compatible 5G and offer high stability, responsiveness, and coordination.
It has been targeted at the retail sector for conducting repetitive tasks and
freeing workers from excessive labor.
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