5th Floor, Rajapushpa Summit
Nanakramguda Rd, Financial District, Gachibowli
Hyderabad, Telangana - 500008
India
Service Robotics Market - Growth, Trends, Forecasts (2020 - 2025)
The Service Robotics Market is segmented by Field of Application (Professional Robots, Personal Robots) across various end-user industries, and by Geography.
- ABOUT THIS REPORT
- Service Robotics Market Snapshot
- Market Overview
- Scope of the Report
- Key Market Trends
- Competitive Landscape
- Major Players
- TABLE OF CONTENTS
Service Robotics Market Snapshot
Study Period:
2019-2025
Base Year:
2019
Fastest Growing Market:
Asia Pacific
Largest Market:
Asia Pacific
CAGR:
25.34 %
Need a report that reflects how COVID-19 has impacted this market and its growth?
Market Overview
The Service Robotics market is valued at USD 14.39 billion in 2019 and is expected to reach USD 63.8 billion by 2025, at a CAGR of 25.34% over the forecast period of 2020-2025.
- Technological innovations, with respect to cognition, interaction, and manipulation, have made service robotics more appealing. Technology and other component providers have been instrumental in moving the robotics ecosystem forward. For instance, Preferred Networks, a Tokyo-based technology startup, provides its AI technology for Toyota Motor's autonomous driving systems, as well as to the robots produced by Fanuc.
- Also, in April 2019, researchers at University of California have developed a robot that uses Artificial Intelligence (AI) to perform intricate human tasks such as helping in folding laundry or making a cup of coffee.
- Service robots that are deployed for personal/household purposes, like vacuum and floor cleaning, elderly assistance, and entertainment. The aging population of the countries of Asia-Pacific, such as Japan and China, are driving growth in the medical technology sector, thus, creating a huge market for service robots.
- LG Electronics is testing robots that can replace workers in the service industry. The company’s robots are designed to perform tasks, such as delivery of food and drinks to customers at hotels and airport lounges, to handle check-in and check-out services at hotels, and even carry luggage.
- The outbreak of COVID-19 will only boost the adoption of service robot for performing various task such as contactless delivery operations, disinfectioning, delivering medications and food and assisting border controls. Thus, the market is expected to witness several instances of deployment, especially in the healthcare sector. Moreover, robots are playing a crucial role in fighting coronavirus SARS-CoV-2. For instance, according to IFR, Chinese hospitals have ordered more than 2,000 disinfection UVD robots by Danish manufacturer Blue Ocean Robotics. These robots moves autonomously around patient rooms covering all critical surfaces with the right amount of UV-C light in order to kill viruses.
Scope of the Report
As per the International Organization for Standardization, a service robot performs useful tasks for humans or equipment, excluding industrial automation applications.The market is broadly segmented into professional and personal robots.
Professional service robots automate time-consuming, menial, or repetitive tasks, thereby allowing human workers to achieve more intellectual functions. On the other hand, personal service robots are consumer-facing robots for automating tasks, mostly within the home. This could include things, such as autonomous vacuum cleaners or window cleaners.
| Field of Application | |||||||||||||
| |||||||||||||
|
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Rest of the World |
Report scope can be customized per your requirements. Click here.
Key Market Trends
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 construction industry has adopted service robots to overcome challenges like heavy labor cost, labor shortage, and labor accidents. It also helps in constructing more reliable buildings since there is less chance of human errors. Technologies like, 3D printing robots and demolition robots further acts as a catalyst in the adoption of robots in the construction sector.
- Exoskeleton robots are used as public relation robots. Most public relation robots are used to assist customers in finding an item or completing a task. These robots are being deployed in the retail sector, to guide customers around a store, as well as in the hospitality industry, in banks, shopping malls, family entertainment centers, and more.
- The medical and healthcare industry uses services robots as diagnostic systems, robot-assisted surgery or therapy, rehabilitation systems, and other medical robots.
To understand key trends, Download Sample Report
Asia-Pacific to Register a Significant Growth Rate Over the Forecast Period
- Asia-Pacific is one of the fastest growing regions across the world. It also holds the largest market over the forecast period, owing to the significant adoption of service robots in China, Japan, and India, among others.
- Regional governments are also a major factor for the development of a regional robotics market. For instance, India plans to invest in military robotics, and the country is preparing for deploying advanced robotic soldier by 2023.
- The Chinese government has ambitious plans for the country’s robotics industry. The government has listed the robotics industry, along with AI and automation, as one of the priority sectors for high-end development, to push forward the transformation and up gradation of the manufacturing industry. This push is expected to raise the global market share of Chinese-made robots.
- Further, financial services companies in Asia are looking to streamline costs to boost dividends to shareholders, maintain profitability, and have a new tool at their disposal that also appeals to customers, e.g. service robots. For instance, HDFC, one of the largest Indian private banks, is looking to unveil a service robot, which will assist customers with everyday tasks, like transferring or withdrawing money or just finding the relevant department to get their task done. The robot is expected to be a part of the bank's Project AI program.
To understand geography trends, Download Sample Report.
Competitive Landscape
The Service Robotics market is consolidated and major players include Daifuku Co. Ltd, Dematic Corp., Swisslog Holding AG, iRobot Corporation, among others.
- October 2018 - Dematic planned to implement a robotic order fulfillment system for the Drakes Supermarket, an independent grocery retailer based in Australia. The robotic system was used to pick inventory items for retail store replenishment, by using a “goods-to-robot” configuration.
You can also purchase parts of this report. Do you want to check out a section wise price list?
Table Of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Demand for Automated Solutions from Dynamic Industries and Robot Innovations
5.1.2 Increasing Demand for Professional Robots in Healthcare
5.2 Market Restraints
5.2.1 High Cost of Installation
5.3 Impact of Covid-19 on the Industry
6. MARKET SEGMENTATION
6.1 Field of Application
6.1.1 Professional
6.1.1.1 Field Robots
6.1.1.2 Professional Cleaning
6.1.1.3 Inspection and Maintenance
6.1.1.4 Construction and Demolition
6.1.1.5 Logistics Systems (Manufacturing and Non-manufacturing)
6.1.1.6 Medical Robots
6.1.1.7 Rescue and Security Robots
6.1.1.8 Defense Robots
6.1.1.9 Underwater Systems (Civil/General)
6.1.1.10 Powered Human Exoskeletons
6.1.1.11 Public Relation Robots
6.1.2 Personal/Domestic
6.1.2.1 Robots for Domestic Tasks
6.1.2.2 Entertainment Robots
6.1.2.3 Elderly and Handicap Assistance
6.2 Geography
6.2.1 North America
6.2.2 Europe
6.2.3 Asia-Pacific
6.2.4 Rest of the World
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Daifuku Co. Ltd
7.1.2 Dematic Corp.
7.1.3 Swisslog Holding AG (KUKA)
7.1.4 Seegrid Corporation
7.1.5 Omron Corporation
7.1.6 JBT Corporation
7.1.7 SSI Schaefer AG
7.1.8 Grenzebach GmbH & Co. KG
7.1.9 Smith & Nephew PLC
7.1.10 Stryker Corp.
7.1.11 Intuitive Surgical Inc.
7.1.12 Knightscope Inc.
7.1.13 Kollmorgen Corporation
7.1.14 Brokk AB
7.1.15 Husqvarna AB
7.1.16 Construction Robotics LLC
7.1.17 iRobot Corporation
7.1.18 Ecovacs Robotics
7.1.19 Neato Robotics
7.1.20 Transbotics Corporation
7.1.21 Medtronic PLC
7.1.22 Northrop Grumman
7.1.23 BAE Systems
7.1.24 UBTECH Robotics Inc.
7.1.25 SMP Robotics Systems Corp.
7.1.26 Vision Robotics Corporation
7.1.27 Naio Technologies SAS
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
*List Not Exhaustive
80% of our clients seek made-to-order reports. How do you want us to tailor yours?
LINKS
JOIN US
We are always looking to hire talented individuals with equal and extraordinary proportions of industry expertise, problem solving ability and inclination.
Interested? Please email us
[email protected]© 2020. All Rights Reserved to Mordor Intelligence.