Service Robotics Market Analysis

Service Robotics Market Trends Global Industry Analysis, Top Manufacturers, Share, Growth, Statistics, Opportunities & Forecast to 2022

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Global Service Robotics Market Research Report 2017 to 2022 presents an in-depth assessment of the Service Robotics including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Service Robotics investments from 2017 till 2022.

Service Robotics Market size is estimated to reach USD 21.78 billion by 2022 as per a new research report by Market Study Report. Leading industry participants focus on R&D to ensure efficient product development and innovation.

High demand from military and defense applications due to extensive usage across these areas is forecast to fuel service robotics market size. Autonomous navigation along with the ability to control objects autonomously, especially for carrying out complex assistance tasks, is a major growth driver. Healthcare applications are benefitted by the use of these products to ensure superior quality of care and sustainable medical provision. The segment is projected to surpass USD 6 billion by 2022. Introduction of technological advancements to enhance dexterity, stability, and precision, as well as the incorporation of 3D ultrasound and MRI to facilitate easier future reference and effective procedure planning through real-time imaging are major use cases.

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Positive regulatory landscape on a global level is also expected to provide a fillip to service robotics market share. For example, Japan’s METI has invested considerably in R&D and created a roadmap for technology implementation. The EUs SPARC Robotics Project covers product development for manufacturing, agriculture, health, transport, civil security, and households. Unmanned Ground Vehicle (UGV) market growth presents viable growth opportunities in the defense and military sectors.

Key insights from the report include:

Global shipments are forecast to exceed 28 million units by 2022, growing at 22.9% CAGR from 2015 to 2022.

U.S. service robotics market share was the key region in 2014, with North American industry revenue set to grow at over 17% CAGR over the forecast timeframe.

Professional service robotics market share was more than 70% of the global revenue in 2014. This can be attributed to considerable price trend as compared to their personal counterparts. These products are used in agriculture, assisted surgery, and in the UAV market for military applications.

Online retailers are looking towards optimizing their logistics and supply chain to minimize lead time and offer better customer experience, which will fuel revenue across the logistics segment.

Household service robotics market size is anticipated to cross USD 4 billion by 2022. Global consumption will also remain strong in the coming years due to growing demand for automation.

Design and development for generic applications is usually done in accordance to a set of standard conditions, which might not be suitable for extreme conditions such as extremely low or high temperatures or the presence of too many obstacles. Imparting cognitive competencies involves a high level of programming, which is possible only for domain-specific programmers and may pose a challenge to growth.

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Notable companies operating in the industry include Yujin Robots, iRobot, LG Electronics, Toyota, Honda, Samsung, Hanool Robotics, etc.

Global Market Insights has segmented the service robotics industry on the basis of application and region:

Global Service Robotics Market Application Analysis (Volume, Thousand Units & Revenue, USD Million; 2012 – 2022): Professional, Defense, Field, Medical, Logistics, Mobile platforms, Underwater systems, Construction & Demolition, Others, Personal, Entertainment and Household.

Global Service Robotics Market Regional Analysis (Volume, Thousand Units & Revenue, USD Million; 2012 – 2022): North America, Europe, Asia Pacific, Latin America and MEA.

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Related Reports: –

Global Service Robotics Market Research Report 2017

This report studies Service Robotics in Global market, especially in North America, Europe, China, Japan, Southeast Asia and India, focuses on top manufacturers in global market, with capacity, production, price, revenue and market share for each manufacturer, covering

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Service Robotics Market Size by Application (Personal, Professional) to 2022

Posted on Updated on adds “Service Robotics Market Size by Application (Personal, Professional) Industry Outlook Report, Regional Analysis, Application Potential, Price Trends, Competitive Market Share & Forecast, 2015 – 2022” new report to its research database. The report spread across 90 pages with table and figures in it.

Industry Overview

Global Service Robotics Market size is predicted to touch $21.71 billion mark by end of 2022 and register more than 17.81% CAGR during forecast timeframe. Favorable government policies supporting creation of service robots along with steady demand from defense sector is predicted to stimulate the industry demand in future. The reason for this is reduction of human involvement in defense sector resulting in less number of causalities due to military operations. Unmanned defense vehicles are mainly deployed in military sector to perform all kinds of activities.
Medical robotic system is a growing field intended to function in line with MRI(Magnetic Resonance Imaging), fluoroscopy, ultrasound imaging and CT(Comotography) scan. Growing technological breakthroughs like magnetic resonance imaging and 3D ultrasound are predicted to promote industry expansion as these technologies ease real time imaging for future reference and effective process planning.

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Positive initiatives like innovation program and civilian research by European Union in robotics is predicted to promote industry growth and can potentially generate greater than 241,000 jobs. All these factors are predicted to drive global service robotics market trends. But modernized cognitive competencies and lack of customization is predicted to inhibit industry growth during forecast timeframe.

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Application Overview

Global service robotics market is segmented into different applications like personal service robotics application and professional service robotics application.
Personal service robotics segment is further sub-segmented into household applications and entertainment segment. With significant gains, personal service robotics market share is predicted to surpass $6.81 billion by end of forecast timeframe.

Professional service robotics segment was evaluated $4.51 billion for 2014. It include mobile platforms, medical applications, military applications, logistics, underwater systems, demolition & construction and mobile platforms. In 2014, there was a demand for service robotics in military applications owing to use of unmanned aerial vehicles by armed personnel.

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Regional Overview

Service robotics industry is segmented into major geographical regions that include North America, APAC, MEA, Europe and Latin America.

North America contributed more than $2.41 billion to overall industry share for 2014 and predicted to touch $8.61 billion mark by end of 2022 at CAGR of more than 17% during forecast timeframe. Growing applications in underwater systems, military sector, logistics, construction, medicine and mobile platforms are predicted to enhance the product demand.

European industry is anticipated to contribute about $6.56 billion by end of 2022 and make expected gains of more than 16.51% during forecast period.

APAC service robotics market was evaluated at more than $901 million for 2014 and is predicted to touch $4.1 billion mark by end of forecast timeline. Key growth drivers for the region include household and military applications.

MEA service robotics industry is predicted to record CAGR of more than 22% during forecast timeframe.

Competitive Overview

Key industry players profiled in report include iRobot Corporation, AB Electrolux, Samsung Electronics, Gecko Systems, Honda Motor Company Limited, Fujitsu Frontech Limited, Hanool Robotics Corporation, LG Electronics, Sony Corporation, Yujin Robot Company Limited and Toyota Motor Corporation.

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