Service Robotics Market Status (2017-2021) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2022-2028
Report Description
The global Service Robotics market size is estimated at USD 33,908.1 million in 2021, expanding at a CAGR 21.2% from 2022-2028 to reach USD 48,000.7 million USD in 2028.
Market Dynamics
Service robotics have acquired significant adoption in a number of personal and professional applications, due to benefits like as delivery of accurate and high-quality services, reduced operational expenditures and human errors, and better usability and dependability. Moreover, due to rising labour costs and a lack of skilled staff, many businesses have turned to robotic technology to eliminate human error and boost efficiency. Furthermore, as people become more aware of the value of robots, R&D expenditures increase, and degree of automation in the personal and professional sectors grows, so does demand for service robots. However, market development has been hampered by issues such as rising direct materials and semiconductor chip prices. Furthermore, the service robots market's growth has been hampered by expensive initial investment and maintenance costs.
The Internet of Things (IoT) refers to the digital interconnection of diverse devices and systems in order to establish integrated operations. The technique of anticipating future difficulties before they occur is known as predictive maintenance. An IoT-based system may store terabytes of data and execute deep - learning algorithms on several computers in parallel to detect possible risks and identify when industrial equipment is likely to break, aiding in predictive maintenance. Data from a robot's many sensors, such as voltage and heat sensors, is gathered on the cloud and evaluated using machine learning algorithms. To uncover hidden relationships in datasets and detect anomalous data patterns, machine learning methods are used.
Regional Insights
In 2020, Europe was the top revenue-generating region. Many measures are being made to drive the expansion of robotics R&D activities in different industries as a result of increased government funding in R&D. However, due to increased automation in emerging nations, Asia-Pacific is predicted to be the fastest expanding market over the projection period. Furthermore, due to technology improvements and the creation of new business models, such as the rise of e-commerce and burgeoning retail sectors, nations in this area have implemented robotic technologies.
The Asia Pacific is one of the world's fastest-growing regions. Due to the widespread use of service robots in Japan, China, and India, it will also hold the largest market during the projection period. Regional governments play an important role in the growth of a local robotics market. India, for example, intends to invest in military robots and wants to deploy sophisticated robotic soldiers by 2023.
Segment Dynamics
Field robots, medical assisting robots (MAR), defence and security robots, electrical industry robots, public assistant robots, and construction robots are all examples of professional robots. To combat high labour costs, labour shortages, and workplace dangers, the construction sector has deployed service robots. It also aids in the construction of more dependable structures since human error is reduced. Technologies such as 3D printing robotics and demolition robots are also drivers for robot adoption in the construction industry. Robots with exoskeletons are utilized in public relations. The majority of public relation robotics are intended to help clients locate an item or complete a job. These robots are used to assist clients around stores in the retail sector, as well as in the hotel industry, banks, and shopping malls.
Competitive Insights
The market for Service Robotics is very competitive, with both domestic and foreign players involved. To stay competitive, large corporations engage in strategic mergers and acquisitions, collaborations, and new product launches. Covariant and ABB Limited announced a partnership to bring AI-enabled mechatronics solutions to market, beginning with a completely autonomous warehouse fulfilment solution. The partnership brings businesses together with a shared vision for robotic systems made possible by AI, where sentient robots work side by side living beings in dynamic environments, jointly learning and improving with each task completed.
The report begins with an overview of the Industry Chain structure, and describes the industry environment, then analyses the market size and forecast of Service Robotics by type, region, and application. In addition, this report introduces the market competition situation among the vendors, and company profile, besides, market price analysis, and value chain features are covered in this report.
Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products etc.):
- Yujin Robot Co. Ltd.
- SoftBank Robotics Group
- Samsung Electronics CO., Ltd.
- Robert Bosch GmbH
- Panasonic Corporation
- Neato Robotics
- Lely
- Kongsberg Maritime
- iRobot Corporation
- Intuitive Surgical Inc
- Honda Motor Co., Ltd.
- DJI
- DeLaval
- Aethon Inc.
- AB Electrolux
Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Personal service robotics
- Professional service robotics
Environment Coverage (Market Size & Forecast, Main Consumer Analysis etc.):
- Marine
- Ground
- Aerial
Application Coverage (Market Size & Forecast, Main Consumer Analysis etc.):
- Logistics
- Healthcare
- Field
- Entertainment
- Domestic
- Defence
- Construction
- Others
Region Coverage (Regional Consumption, Demand & Forecast by Countries etc.):
- North America (U.S., and Canada)
- Europe (Germany, U.K., France, Italy, Spain etc.)
- Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
- South America (Brazil, Mexico, Argentina etc.)
- Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa etc.)
Table Of Content
1. Service Robotics Market Overview
1.1. Product Overview and Scope of Service Robotics
1.2. Global Market Growth Prospects and Revenue Estimates
1.3. Global Service Robotics Market Size Growth Rate Analysis by Type 2021 VS 2028
1.3.1. Personal service robotics
1.3.2. Professional service robotics
1.4. Global Service Robotics Consumption Comparison by Environment: 2021 VS 2028
1.4.1. Marine
1.4.2. Ground
1.4.3. Aerial
1.5. Global Service Robotics Consumption Comparison by Application: 2021 VS 2028
1.5.1. Logistics
1.5.2. Healthcare
1.5.3. Field
1.5.4. Entertainment
1.5.5. Domestic
1.5.6. Defense
1.5.7. Construction
1.5.8. Others
1.6. Global Service Robotics Market Size Estimates and Forecasts by Region: 2021 VS 2028
1.6.1. North America Service Robotics Estimates
1.6.2. Europe Service Robotics Estimates
1.6.3. China Service Robotics Estimates
1.6.4. Japan Service Robotics Estimates
2. Market Competition by Manufacturers
2.1. Global Service Robotics Revenue Market Share by Manufacturers (2020)
2.2. Service Robotics Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.3. Global Service Robotics Average Price by Manufacturers (2017-2021)
2.4. Manufacturers Service Robotics Production Sites, Area Served, Product Types
2.5. Service Robotics Market Competitive Situation and Trends
2.5.1. Service Robotics Market Concentration Rate
2.5.2. Mergers & Acquisitions, Expansion
3. Global Service Robotics Consumption by Region (2017-2021)
3.1. Global Service Robotics Consumption by Region
3.2. Global Service Robotics Consumption Market Share by Region
3.2.1. North America
3.2.2. North America Service Robotics Consumption Growth Rate (2017-2021)
3.2.3. North America Service Robotics Consumption, Price and Gross Margin (2017-2021)
3.2.4. North America Service Robotics Consumption by Country
3.2.4.1. U.S.
3.2.4.2. Canada
3.2.5. Europe
3.2.6. Europe Service Robotics Consumption Growth Rate (2017-2021)
3.2.7. Europe Service Robotics Consumption, Price and Gross Margin (2017-2021)
3.2.8. Europe Service Robotics Consumption by Country
3.2.8.1. Germany
3.2.8.2. U.K.
3.2.8.3. France
3.2.8.4. Italy
3.2.8.5. Spain
3.2.9. Asia Pacific
3.2.10. Asia Pacific Service Robotics Consumption Growth Rate (2017-2021)
3.2.11. Asia Pacific Service Robotics Consumption, Price and Gross Margin (2017-2021)
3.2.12. Asia Pacific Service Robotics Consumption by Country
3.2.12.1. China
3.2.12.2. India
3.2.12.3. Japan
3.2.12.4. Indonesia
3.2.12.5. Malaysia
3.2.12.6. Australia
3.2.12.7. South Korea
3.2.13. South America
3.2.14. South America Service Robotics Consumption Growth Rate (2017-2021)
3.2.15. South America Service Robotics Consumption, Price and Gross Margin (2017-2021)
3.2.16. South America Service Robotics Consumption by Country
3.2.16.1. Brazil
3.2.16.2. Mexico
3.2.16.3. Argentina
3.2.17. Middle East and Africa
3.2.18. Middle East and Africa Service Robotics Consumption Growth Rate (2017-2021)
3.2.19. Middle East and Africa Service Robotics Consumption, Price and Gross Margin (2017-2021)
3.2.20. Middle East and Africa Service Robotics Consumption by Country
3.2.20.1. Saudi Arabia
3.2.20.2. Kuwait
3.2.20.3. UAE
3.2.20.4. South Africa
4. Global Service Robotics Consumption by Type (2017-2021)
4.1. Global Service Robotics Price by Type (2017-2021)
4.2. Global Service Robotics Revenue Market Share by Type (2017-2021)
4.2.1. Personal service robotics
4.2.2. Professional service robotics
5. Global Service Robotics Consumption by Environment (2017-2021)
5.1. Global Service Robotics Price by Application (2017-2021)
5.2. Global Service Robotics Revenue Market Share by Application (2017-2021)
5.2.1. Marine
5.2.2. Ground
5.2.3. Aerial
6. Global Service Robotics Consumption by Applications (2017-2021)
6.1. Global Service Robotics Price by Application (2017-2021)
6.2. Global Service Robotics Revenue Market Share by Application (2017-2021)
6.2.1. Logistics
6.2.2. Healthcare
6.2.3. Field
6.2.4. Entertainment
6.2.5. Domestic
6.2.6. Defense
6.2.7. Construction
6.2.8. Others
7. Key Companies Profiled
7.1. Yujin Robot Co. Ltd.
7.1.1. Yujin Robot Co. Ltd. Service Robotics Corporation Information
7.1.2. Yujin Robot Co. Ltd. Service Robotics Product Portfolio
7.1.3. Yujin Robot Co. Ltd. Service Robotics Consumption, Price and Gross Margin (2017-2021)
7.1.4. Yujin Robot Co. Ltd. Main Business and Markets Served
7.1.5. Yujin Robot Co. Ltd. Recent Developments/Updates
7.2. SoftBank Robotics Group
7.3. Samsung Electronics CO., Ltd.
7.4. Robert Bosch GmbH
7.5. Panasonic Corporation
7.6. Neato Robotics
7.7. Lely
7.8. Kongsberg Maritime
7.9. iRobot Corporation
7.10. Intuitive Surgical Inc
7.11. Honda Motor Co., Ltd.
7.12. DJI
7.13. DeLaval
7.14. Aethon Inc.
7.15. AB Electrolux
8. Marketing Channel, Distributors and Customers
8.1. Marketing Channel
8.2. Service Robotics Distributors List
8.3. Service Robotics Customers
9. Market Dynamics
9.1. Service Robotics Industry Trends
9.2. Service Robotics Growth Drivers
9.3. Service Robotics Market Challenges
9.4. Service Robotics Market Restraints
10. Global Service Robotics Consumption and Demand Forecast, by Region (2022-2028)
10.1. Global Forecasted Demand Analysis of Service Robotics, by Regions and Country
10.1.1. North America Forecasted Consumption of Service Robotics by Country
10.1.2. Europe Market Forecasted Consumption of Service Robotics by Country
10.1.3. Asia Pacific Market Forecasted Consumption of Service Robotics by Region
10.1.4. Latin America Forecasted Consumption of Service Robotics by Country
10.1.5. Middle East and Africa Forecasted Consumption of Service Robotics by Country
11. Global Service Robotics Consumption and Demand Forecast, by Device Segments (2022-2028)
11.1. Global Forecasted Consumption of Service Robotics by Device Segments (2022-2028)
11.2. Global Consumption and Price Forecast by Device Segments (2022-2028)
11.3. Global Forecasted Growth Rate of Service Robotics by Device Segments (2022-2028)
12. Research Finding and Conclusion
13. Methodology and Data Source
13.1. Methodology/Research Approach
13.1.1. Research Programs/Type
13.1.2. Market Size Estimation
13.1.3. Market Breakdown and Data Triangulation
13.2. Data Source
13.2.1. Secondary Sources
13.2.2. Primary Sources
13.3. Author List
13.4. Disclaimer
Research Methodology
Our research studies are primarily performed in five phases which include Secondary Research, Primary Research, Subject Matter Expert Advice, Quality Check, and Final Review. The process opted for conducting thorough research to make authentic business reports is briefly described below-
Secondary Research-
- Based on the understanding of requirements, we conducted secondary research to identify the Segment specifications, qualitative and quantitative data along with the factors responsible for the growth of the market.
- The secondary sources referred for the study include press releases, company annual reports, and research papers related to the industry.
- Various sources such as industry magazines, trade journals, government websites, and associations were also reviewed for gathering precise analysis on opportunities for business expansions in the market.
- Moreover, quantitative as well as qualitative data were also extracted from paid databases, which included Reuters, Factiva, Bloomberg, One Source, and Hoovers, which proved to be useful for in-depth technical study of the market.
Primary Research-
- The research carried out during the desk research was verified by primary interviews. Primary research was scheduled with a number of industry experts for conducting telephonic interviews, and also our team send questionnaires through their official emails.
- The secondary data collected was then verified by various industry participants which included Segment managers, marketing managers, VPs, CEOs, purchasing managers, subject matter experts.
- An interview with the mentioned participants aids invalidation of our research findings regarding the Segment.
- It helps in the provision of first-hand data on factors such as market size, growth, regional trends, market trends, and competition in the industry. This approach makes our findings precise in order to help our clients in strategic decision-making processes.
Subject Matter Advice-
- The secondary and primary research key findings were then validated by the in-house subject matter experts having extensive experience in the market research industry.
- Specific requirements of the clients were reviewed by the experts to check for completion of the market study. Experts help in channelizing the representation skills of the analyst in terms of providing data that can be easily understood by our customers.
Quality Check-
- The analysis done by the research team was further reviewed to check for data accuracy provided to suit the clients’ specific requirements.
- This revision was done in various phases to check the data authenticity and to remove negligible errors in the final compilation.
Final Review-
- After the quality check, a final review of the report was done to look after the presentation, formatting, and to recheck if all the requirements of the clients were addressed. The next phase remains dispatch of the report to the client.
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