Posted in | News | Consumer Robotics

Global Service Robot Market Forecast to Grow at 16.50% CAGR Over the Period 2013-2018

Oct 29 2014

Research and Markets has announced the addition of the "Global Service Robot Market 2014-2018" report to their offering.

A service robot is an intelligent machine that performs a variety of tasks that might be simple or complex, time-consuming, and repetitive. Service robots are mainly classified into two broad divisions: Professional Robot and Personal/domestic Robot. Professional robots have the ability to work in a challenging environment such as underwater applications, defense, and security and surveillance applications, whereas domestic robot plays a major role in performing household applications such as pool cleaning, window cleaning, lawn mowing, vacuuming, floor cleaning, personal transportation, home security and surveillance, and personal aids and assistance.

The analysts forecast the Global Service Robot market to grow at a CAGR of 16.50 percent over the period 2013-2018.

Based on the application, the Global Service Robot market can be segmented into two divisions - Personal/Domestic Robots and Professional Robots. Personal/domestic robot is further classified into Household and Entertainment segment whereas professional robot is classified into Defense, Field, Logistics, Medical, Construction, Mobile Platform, Cleaning, Inspection, and Underwater segments.

The report, Global Service Robot Market 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers the Global Service Robot market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.

One of the major trends in the market is the availability of service robots on lease. Several vendors have begun to offer service robots, especially professional robots, on lease because of the high prices of these robots. This allows cost-driven organizations to obtain the latest technology service robots at minimal cost and improve productivity.

According to the report, one of the major drivers in the market is increased demand for professional robots for medical applications. The acceptance of service robots for surgical applications has improved their usage, particularly in minimally invasive surgeries as they reduce scarring and allow remote access. Service robots are used in various surgeries such as gastrointestinal and gynecological surgery, and urology, gall bladder, and prostate removal surgery.

Further, the report states that one of the main challenges in this market is the lack of effective product differentiation. Several service robot vendors offer similar products at competitive prices, which creates intense competition among vendors and forces them to reduce their product prices to increase their market share.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

Key Topics Covered:

01. Executive Summary

02. List of Abbreviations

03. Scope of the Report

04. Market Research Methodology

05. Introduction

06. Market Landscape

07. Market Segmentation by Application

08. Geographical Segmentation

09. Key Leading Countries

10. Buying Criteria

11. Market Growth Drivers