Service Robotics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Service Robotics Market Analysis

The Global Service Robotics Market is expected to register a CAGR of about 44.9% during the forecast period. Service robots offer several features, such as delivering precise and high-quality service and helping users reduce human mistakes and operational expenses, due to which their demand has increased. Additionally, the rapid proliferation of service robot capabilities owing to technological innovations is also among the key factors driving the market's growth.

• Service robots, both personal (for household, entertainment applications, etc.) and professional (for defense, security, medical assistance, etc.), are gaining significant popularity as technological improvement and the development of affordable robots have significantly enhanced their penetration among general consumers. According to data from the International Federation of Robotics (IFR), sales of professional service robots increased by about 37% in 2021.
• Technological innovations concerning cognition, interaction, and manipulation, have made service robotics more appealing. Technology and other component providers have moved the robotics ecosystem forward. For instance, recently, ABB entered into a strategic partnership with Switzerland-based start-up Sevensense to enhance ABB's new Autonomous Mobile Robotics (AMR) offering with techn ologies such as artificial intelligence (AI) and 3D vision mapping.
• The aging population of several countries, including Japan and China, is also driving the growth in the medical technology sector, thus, creating a massive market for service robotics in the region. For instance, according to the Japanese government's data released in September 2022, for the first time, Japan's over 75s accounted for over 15% of the population. Such trends encourage companies to invest in products for the elderly, which is a massive opportunity for the service robot providers.
• Service robots are usually deployed for personal/household purposes, like vacuum and floor cleaning, elderly assistance, and entertainment. However, several vendors have now started exploring new cases and are focusing on designing robots to perform tasks, such as delivering food and drinks to customers at hotels and airport lounges, handling check-in and check-out services at hotels, and even carrying luggage, which is boosting the demand for service robots.
• However, the factors such as low awareness, especially in developing regions, and the higher cost of service robots are challenging the growth of the studied market. Furthermore, a certain degree of technical know-how is also required to operate these robots, which is a significant challenge for the market's growth.
• The outbreak of the COVID-19 pandemic has had a mixed impact on the growth of the studied market. During the initial phase, the widespread lockdown imposed across most countries significantly disrupted the supply chain, making it difficult for the robot manufacturers to carry out production at full scale. However, the demand has witnessed an upward trend, especially in the healthcare and personal application segment, which is expected to sustain during the forecast period.

Service Robotics Industry Segments

As per the International Organization for Standardization, a service robot performs functional tasks for humans or equipment, excluding industrial automation applications. The market is broadly segmented into professional and personal robots. Besides, the study also encompasses segmentation by Geography (North America, Europe, Asia-Pacific, and the Rest of World). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

Professional service robots automate time-consuming, menial, or repetitive tasks, allowing human workers to achieve more intellectual functions. On the other hand, personal service robots are consumer-facing robots for automating tasks, mainly at home. This could include things such as autonomous vacuum cleaners or window cleaners.

Report scope can be customized per your requirements. Click here.

Service Robotics Market Trends

This section covers the major market trends shaping the Service Robotics Market according to our research experts:

Professional Use of Robots to Account for a Significant Share in the Market

• Professional robots consist of field robots, defense, and security robots, medical assisting robots (MAR), public assistant robots, electrical industry robots, and robots for construction purposes. The increasing penetration of digital technologies and automation solutions across these sectors drives the demand for professional robots.
• For instance, service robots are deployed in the construction industry to overcome heavy labor costs, shortages, and accidents. It also helps construct more reliable buildings since there is less chance of human error. Technologies like 3D printing and demolition robots further act as catalysts in adopting robots in the construction sector.
• Exoskeleton robots are used as public relations robots. Most public relations robots are used to assist customers in finding an item or completing a task. These robots are deployed in retail to guide customers around a store and in the hospitality industry, banks, shopping malls, family entertainment centers, and more.
• Major application areas for professional robots are transportation, hospitality, medical, professional cleaning, and agriculture. Transportation was among the leading consumer of professional robots in the aforementioned year. For instance, according to IFR, about 121,000 professional service robots were sold in 2021 — more than one out of every three built were targeted for the transportation of cargo and goods.
• Service robots are used in medical and healthcare for various applications, including diagnostic systems, robot-assisted surgery or therapy, rehabilitation systems, etc. The outbreak of the COVID-19 pandemic played an important role in driving the demand for robots across the sector. For instance, according to IFR 2021, a 23% growth in the sales of medical robots was recorded in 2021, with the number of shipments touching 14,823 units.

To understand key trends, Download Sample Report