MarketsandMarkets has released a new market research report titled ‘Personal & Professional Service Robotics Market – Global Forecast & Assessment by Applications & Geography from 2012 to 2017’. According to the report, the total service robotics market will reach $46.18 B by 2017 from 2012 to 2017 at a compound annual growth rate (CAGR) of 17.4%.
Since late 1900s, the service robotics market has been progressing rapidly. The devices being commercialized at present are simple than their predecessors.
Service robotics is a broad technology area that consists of a class of various enabling technologies. Mobile robots and unmanned systems include several subsystems. Improvement of technologies in these systems will promote the deployment of robots for personal home and security applications.
Service robots can be categorized as personal service robots and professional service robots.
- Personal service robots are designed for entertainment, household jobs, education, and for assisting the physically and mentally challenged people and the elderly. Service robots include domestic robots such as Aibo, the Sony robot dog, the ASIMA, a Humanoid from Honda, and "Roomba" vacuum cleaners.
- Professional service robots are advanced solutions that are deployed in dangerous and hazardous environments, public buildings, factories, hospitals, oceans, cow barns, the space, and fields. Examples of these robots are bomb disposal robots, underwater remotely operated vehicles, cow milking robots, and medical robots.
The service robotics industry will represent industrial robotics producers who use innovative technologies within the new high growth sectors, and advanced service robotics companies integrating the latest robotics technology with practical applications in domestic, service, defense, and medical industries.
The service robotics market has been backed by increasing venture capital investments in service robotics companies, ageing population, value enhancement by robots, enhancements in complementary technologies, increasing grants and funds by governments, and incorporating robotics within mobile technologies, other smart products, and appliances.