Increasing assisted living and rising combat labor costs are expected to drive market over the forecast period. Smart robots are used to assist the people by making their work simpler and easier. Service robots helps human beings by doing a job that is dull, dirty, dangerous, repetitive and distant. Additionally, they also help in performing household activities. Service robots operates semi autonomously which assists human beings. They are helpful for performing risky and difficult task. Computer controlled service robots perform their daily routine tasks with high accuracy. Service robots include major components such as microcontrollers, sensors, manipulators, actuators and power supply. These service robots are used by surgeons for rescue and search operations, agriculture, cleaning, forestry, mining, freight transportation, construction, demolition and others.
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Technological advancement in wireless sensor technology is expected to fuel the market growth over the forecast period. Increasing government initiatives are likely to boost the market growth over the next five years. Growing wireless equipment demand is expected to provide positive avenues to the global market growth. Additionally, increasing disposable income is further expected to fuel the market demand. Furthermore, mobile technology, smart devices and ageing population expected to provide positive avenues to the service robotics market demand in near future. Increasing service robots in automotive industry is expected to drive the market demand over the next years. Increasing research and developments in robotics industry is anticipated to have positive impact on service robotics market over the foreseeable future. However, network robots, lack of sensors, human safety and unstructured world are projected to pose a challenge to the market growth.
Application includes personal service and professional robots. Professional robots are used in field, defense, medical and logistic. Service robots are mainly used in defense applications resulted in increased usage of smart drone vehicles is expected to drive the market in near future. Field robots are used in agriculture, milking, mining, and forestry among others. Medical robots are gaining wide acceptance owing to their use in robot assisted surgery and therapy. Additionally, increasing usage of service robots in applications such as construction, mobile platforms, underwater, rescue and cleaning is expected to favor the market growth. The personal service robots are used as leisure and entertainment robots and house hold robots. Personal robots are used for lawn mowing, handicap assistance, education, research and entertainment. Systems are used for home security and surveillance is expected to fuel the market growth over the next six years.
North America is expected to be the dominant market over the forecast period. Japan is expected to grow considerably over the forecasted period. In the U.S. robots are widely used in various departments including defense, homeland security, justice, wildlife security, marine and agriculture. These widespread applications in various field is expected to drive the market in this region. U.K., Germany, Russia, and France are expected to be the fastest growing market in European region. The commercial robots market in China, India and Japan are expected to grow significantly. Increasing investments and technological advancements in emerging countries are also expected to provide new opportunities for the service robots market.
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Some major players operating in the global market include Samsung Electronics, iRobot Corporation, Toyota Motor Corporation, AB Electrolux, Hanool Robotics Corp, Fujitsu Frontech Limited, Fujitsu Frontech Limited, LG Electronics Inc., Fujitsu, Sony Corp, Yujin Robot, and GeckoSystems among others. Market participants enter into mergers & acquisitions to sustain in the market. For example, General Electric made an agreement to sell their appliances to Electrolux at USD 3.3 billion.
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