The global service robotics market is anticipated to grow at a CAGR of more than 15% during the forecast period. Service robotics plays a vital role in automation. Service robotics is currently is divided into two parts such as personal/domestic service robots and professional service robots that are used for performing daily tasks, non-commercial use, and others. The service robotics is designed to perform the set of tasks with accuracy and speed. The robotics has made life convenient and easier that decreases the workload of human beings and enables consumers to improve quality and reduces human errors. Additionally, robotics has become more autonomous and progressive to find numerous applications across the number of industries such as healthcare, aerospace and automotive, defense where it is used in detecting defusing bombs, space missions, and surgical operations assembling product inspection respectively. 

There are various key factors that are attributing towards the growth of the global service robotics market such as increasing demand for service robotics in the sectors of military and defense, logistics and healthcare. The increasing adoption of personal robotics services and increasing demand for mobile services and telepresence are among the key factors that are fueling the growth of the global service robotics industry. Moreover, growing popularity, surging investments, rising acceptance of humanoids and advanced technology-enabled service robotics is anticipated to grow and generate huge opportunities for global service robotics companies in the coming years.

Segmental Outlook  

The global service robotics market is segmented on the basis of type, and application. Based on type, the market is segmented into professional service robotics and personal service robotics. Based on application, the service robotic market is segmented into healthcare, military and defense, logistic, construction, entertainment and leisure, household, and others. Based on the application, healthcare is anticipated to hold considerable market share during the forecast period. The adoption of service robots in clinics, hospitals, and pharmaceutical companies has increased due to the growing requirement for automation, patient care, and inventory management in hospitals, and increasing the need for safety and efficiency of drug delivery. Healthcare service robots are used in a wide range of applications such as physical & mental therapy, surgery, diagnostics, prosthetics, and monitoring hospitals. Therefore, the increasing use of service robotic in healthcare organizations is anticipated to make a considerable share in the healthcare segment.

The Professional Service Robotics to be a considerable segment based on Type

The emerging utility of professional service robotics to perform complex industrial applications is a major factor contributing to its high market share in the service robotics market. The professional services robotics are typically considered for use outside of a manufacturing facility and most professional services robotics are semi-autonomous or fully autonomous robots in nature with some form of mobility. There are services robots that are deployed in healthcare, retail, hospitality, space and defense, and demolition to automate dangerous or laborious tasks. The professional service robotics comprises field defense and security robots, medical assisting robots (MAR), public assistant robots, electrical industry robots, UAV drones, and robots for construction purposes. The professional service robots perform various tasks in a diverse set of applications with higher efficiency, safety, and productivity. The safety is a primary consideration in professional service robotics that can handle dangerous tasks while human beings focus on more cognitive-oriented tasks.

Global Service Robotics Market Share by Type, 2018 (%)

Regional Outlook

The global service robotics market is analyzed on the basis of the geographical regions that are contributing significantly towards the growth of the market. On the basis of geography, the market is distributed into North America, Europe, Asia-Pacific and the Rest of the World. North America region is estimated to hold considerable market share in the global service robotics market. The US has the largest defense budget across the globe and the application of service robots in the defense sector making considerable share to the regional growth of the market. Further, the presence of various innovative companies and increasing adoption of service robots in the retail sector in North America is also contributing to the high market share of service robots in the region.

Global Service Robotics Market Growth, by Region 2019-2025

Asia-Pacific is anticipated to register considerable growth in the Market

Asia-Pacific is anticipated to register considerable growth during the forecast period. The increasing government investments in robotics and artificial intelligence (AI), rising focus on R&D are the major factors to promote the growth of the service robotic market in the region. Besides these, increasing demand for robotic-led automation across industries and the rapid rate of industrialization in China and India are further promoting the regional market growth.

Market Players Outlook

The key players of service robotics market include KUKA AG, Panasonic Corp., Samsung Electronics Co. Honda Motor Co. Ltd., The Boeing Co.,Intuitive Surgical, Inc., iRobot Corp., Lockheed Martin Corp., Northrop Grumman Corp., SoftBank Robotics Corp., SZDJI Technology Co., Ltd., and so on. Key players are constantly focusing on gaining major market share by adopting strategies of mergers & acquisitions, product launch, partnership, and agreements. New product development and technological advancement is the key strategy that major market players adopt to remain competitive in the global service robotic market.

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global service robotics market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.