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Forecast Report on Global Service Robotics Market

Global Service Robotics Market by Type (Domestic, Professional), End-User (Healthcare, Defense, Electronics, Transportation, Construction) - Forecast 2022

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.

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.

Access the market data and market information presented through more than 25 market data tables and 25 figures spread over 110 numbers of pages of the project report "Service Robotics Market - Forecast 2022"

Major Key Players:
•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)

Service Robotics Market Segmentation:
The Service robotics Market has been segmented on the basis of type and end user. Looking through the end-user segments it's been observed that healthcare industry is dominating in service robotics market. Automotive, defense and construction industries are also showing a positive growth towards service robotics. In the defense sector, service robotics reduces the human involvement, thereby reducing the number of victims in military actions which would result in increase of service robotics market by the forecast period.

Regional Analysis:
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.

Intended Audience:
•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
•End-users
•Research labs and research institutes
•System Integrators
•Government Organizations
•Research/Consultancy firms

Source: https://www.marketresearchfuture.com/reports/service-robotics-market-2437

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