Market Synopsis of Service Robotics Market
Service robot can be defined as a robot that performs useful tasks for humans or equipment excluding industrial automation application. Service robotics is differentiated into two parts as personal/domestic service robots and professional service robots. Service robots that are used for performing daily tasks, non-commercial use, and others are the personal/domestic service robots. Whereas service robots that perform commercial tasks and are operated by trained operators are the professional service robots.
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The study indicates that technological advancements, innovation and high demands for automation are the major driving factors for the service robotics market. The study indicates that many organizations face challenges of finding skilled workforce, high labor costs, maintaining quality of service, and others, to overcome these challenges service robotic is growing significantly in the market. Moreover high investments in R&D, growing awareness and human safety concerns are driving the service robotics market.
Apart from it, developments in computer aided systems, internet of things (IoT), engineering technologies are the factors driving service robotics. The decreasing human labor has led to a threat in service robotics. Lack of awareness and scarcity of investment for many companies could be the major restraints for service robotics.
The global service robotics market is expected to grow at USD ~20 Billion by 2022, at ~15% of CAGR between 2016 and 2022.
Study Objectives of Service Robotics Market:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Service Robotics market.
- To provide insights about factors affecting the market growth.
- To analyze the Service Robotics market based porter’s five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
- To provide country level analysis of the market with respect to the current market size and future prospective.
- To provide country level analysis of the market for segment on the basis of type, application, end -users and region.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Service Robotics.
The prominent players in the Service robotics Market are – GeckoSystems Intl. Corp. (U.S.), Honda Motor Co. Ltd. (Japan), Adept Technology, Inc. (U.S.), KUKA AG (Germany), iRobot Corporation (U.S.), Kongsberg Maritime AS (Norway), DJI (China), Intuitive Surgical, Inc. (U.S.), Parrot SA (France), Grumman Corporation (U.S.), Fujitsu Frontech Limited (Japan), LG Electronics Inc. (South Korea), Samsung Electronics Co., Ltd. (South Korea) among others
Service Robotics by Type:
Service Robotics by End-User:
- Media & Entertainment
- Supply and Logistics
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The regional analysis of Service robotics market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. The ongoing global trend towards robotics is being reflected in an increase in the number of service robots in US. The study indicates that North America is dominating the service robotic market followed by Europe owing to factors such as increased demand of service robots by defense, medical, construction sectors and inclination towards automation.
The study reveals that Asia-Pacific would be the fastest growing region in the service robotics market by the forecast period. The study also reveals that North America and Europe would show hand-in-hand growth dominate the service robotics market by the forecast period.
- Technology investors
- Robot component and equipment manufacturers and suppliers
- Robot manufacturers and suppliers
- System designers and machine manufacturers
- Product manufacturers
- Robot system and software programmers
- Analysts and strategic business planners
- Research labs and research institutes
- System Integrators
- Government Organizations
- Research/Consultancy firms
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