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The global service robotics market size is anticipated to reach USD 54.4 billion by 2026 growing at a CAGR of 17.3% from 2018 to 2026 according to a new report published by Polaris Market Research. The report ‘Service Robotics Market Share, Size, Trends, & Industry Analysis Report, By Type (Professional Service Robotics, Personal Service Robotics); By Component (Hardware, Software, Services); By Environment; By End-User; By Region: Segment Forecast, 2018 -2026’ provides insights on the current market scenario and the future prospects. In 2017, the hardware segment dominated the global service robotics industry, in terms of revenue. Europe was to be the leading contributor to the global market revenue in 2017.
There has been an increase in the demand of service robotics solutions across the world owing to greater need for automation of services. With the increasing use of collaborative robots in service applications, the overall demand for robotics has increased drastically over the years. The rising applications of drones, unmanned ground vehicles, unmanned surface vehicles, autonomous underwater vehicles, unmanned aerial vehicles in the military sector, use of delivery robots, personal assistance robots, inventory management bots in the healthcare & logistics sector coupled with reduction of hardware costs for the manufacturing of service robots are some stimulating factors for the global service robotics industry.
Technological advancements in vision software and assistive robots for patient care have further led to the development of innovative products to cater to the customized requirements and diversified applications of service robots in the healthcare industry. Growth of wireless technologies, smartphone adoption, rising trend of cloud computing, strong and stable economic growth in the growing economies, and untargeted potential markets provide lucrative opportunities for the market players in the market.
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The advent of new technologies has led to the development of efficient and advanced medical robots for providing customized solutions. Consumer robots compatible with iPad/PC are developed for autistic children, which enable therapists and parents to guide them through their activities. Surgeons are able to perform operations from remote locations, allowing them to provide diagnosis through an interactive moving robot with the adoption of latest telesurgery and telepresence technologies. The da Vinci Surgical System, a surgical robot developed by Intuitive Surgical, Inc., holds a major share in the robotic surgery market.
Surgical robots are specifically designed to perform surgeries or assist surgeons during operation procedures. It is a significant revenue-generating category in the healthcare segment owing to its high precision. Companies have formed alliances to offer diversified solutions in this segment. For instance, Verily Life Sciences LLC, a company by Alphabet Inc., has partnered with Johnson & Johnson’s Ethicon to manufacture surgical robots under jointly incorporated Verb Surgical, Inc. Another company, TransEnterix, Inc. recently launched the Surgibot Surgical System, which is capable of performing surgeries by creating only one incision for multiple instruments.
Europe generated the highest revenue in the service robotics industry in 2017. Growing demand for automation, technological advancements, and increasing labor costs encourage companies to invest in service robotics. Vendors in the service robotics industry deliver customized solutions for self-driving vehicles, surgical technologies, entertainment, and agriculture to cater to a wider audience. Government initiatives such as launch of civilian research and innovation program in robotics in 2014 and incorporation of SPARC Robotics, a joint platform for robotics companies in Europe, help to drive the market growth in Europe. In addition, under the platform of Innovation Union, a Europe 2020 flagship initiative is formed to maximize Europe’s global competitiveness.
The well-known companies profiled in the service robotics market report include Intuitive Surgical, Inc., Adept Technology, Inc., Irobot Corporation, Kuka AG, Aethon Inc., Bluefin Robotics, GeckoSystems Intl. Corp., Panasonic Corporation, Yujin Robot, Co., Ltd., Robert Bosch GmbH, Parrot SA, and Kongsberg Maritime. These companies launch new products and collaborate with other leaders in the market to innovate and launch new products to meet the increasing needs and requirements of consumers.
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The studies record gives an entire assessment of the surroundings for the worldwide Service Robotics market. Get a Free Sample Report of Service Robotics Market @ https://www. Primary interviews, for example, provide statistics on vital elements collectively with market tendencies, market length, aggressive landscape, boom dispositions, and outlook. Competitive OutlookThe aggressive landscape consists of the critical players' market ratings in addition to new service/product launches, partnerships, industrial enterprise expansions, and acquisitions made through corporations profiled in the Service Robotics Market report over the past 5 years. Read Our Related Reports:Global Eubiotics Market Research Analysis Report 2021-2027Global Public Key Infrastructure (PKI) Market Research Analysis Report 2021-2027Global Education ERP Market Research Analysis Report 2021-2027Global Digital Banking Platforms Market Research Analysis Report 2021-2027
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The major players in the service robotics market include iRobot Corporation, Samsung Electronics, AB Electrolux, Toyota Motor Corporation, Fujitsu Frontech Limited, Hanool Robotics Corp. Get more information on "Global Service Robotics Market Research Report" by requesting FREE Sample Copy at https://www. Browse Global Service Robotics Market Research Report with detailed TOC at https://www. Professional Service Robots· Field Robots· Professional Cleaning· Inspection and Maintenance· Construction and Demolition· Logistics Systems (Manufacturing and Non-manufacturing)· Medical Robots· Rescue and Security Robots· Defense Robots· Underwater Systems (Civil/General)· Powered Human Exoskeletons· Public Relation Robots2. Personal Service Robots· Robots for Domestic Tasks· Entertainment Robots· Elderly and Handicap AssistanceRegional AnalysisThis section covers regional segmentation which accentuates on current and future demand for service robotics market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
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Learn More On The Service Robotics Market:https://www. Forecasts for the service robotics market size are exceptionally promising, poised for exponential growth. The increasing demand for robots in the healthcare sector is expected to drive the growth of the service robotics market. Thus, increased demand for robots in the healthcare sector is driving the growth of the service robotics market. The service robotics market report table of contents includes:1.
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By lessening the workload of employees and workers, these service robots manage time, increase productivity, and remove the possibility of human error. It is anticipated that service robots would also open up a plethora of opportunities in various industrial sectors of developing economies. For service robots to reach its full potential and overcome these obstacles, cooperation between robotics businesses, governments, and industry stakeholders is essential. The service robots industry in Asia-Pacific is expanding quickly because of the region's quick industrialization and growing labor costs. OthersconclusionThe service robotics market is on a robust growth trajectory, driven by technological advancements, demographic shifts, and changing consumer behaviors.
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Basically, this report is designed to give a proper understanding of industry structure and competition intensity attractiveness.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the service robotics market include iRobot Corporation, Samsung Electronics, AB Electrolux, Toyota Motor Corporation, Fujitsu Frontech Limited, Hanool Robotics Corp., LG Electronics Inc., Honda Motors Co. Ltd., Sony Corp., GeckoSystems, Fujitsu, Yujin Robot.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Service Robotics Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/service-robotics-market/download-sampleMarket DynamicsThe global service robot market is projected to grow at a healthy rate during the forecast period.
This is because businesses want to automate specific processes for safety, productivity, and efficiency.
The safety and productivity advantages of these service robots help businesses allow the market to flourish at an impressive rate.
For this, service robots are increasingly being improved with the latest generation sensors and control systems.
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According to Renub Research, report titled “Service Robotics Market, Size, Global Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis” the Global Service Robotics Market is predicted to be US$ 42. Furthermore, because of the fast-paced technical developments converging in automation, machine learning, engineering, and artificial intelligence, the robotics industry is rapidly allowing the service robotics market trends around the world. Further, the game-changing potential of AI (Artificial Intelligence) combined with automation's sophistication has created a huge market for global service robotics. , Panasonic Corporation, Fanuc, ABB Ltd, Stryker Corporation, and Yaskawa Electric Corporation as key players in the Global Service Robotics Market. , Fanuc, Stryker Corporation, ABB Ltd, and Yaskawa Electric Corporation as key players of the Global Service Robotics Market.
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