Global Service Robotics Market - Upcoming Trends, Growth Drivers and Challenges – Forecast to -2018-2025
Summary -
A new market
study, titled “Global Service Robotics Market
- Upcoming Trends,
Growth Drivers and Challenges – Forecast to -2018-2025” has been featured on WiseGuyReports.
Market Dynamics:
Service robots that
make up for the labor shortage caused by factors such as the declining
birth-rate and aging population are expected to see a substantial increase in
use in the future. Service robots are used for a variety of everyday life
applications including cleaning, security or guest reception. A significant factor
in the strong future of service robots for professional use is the introduction
of the Robots-as-a-Service (RaaS) model of ownership. By leasing either the
cloud computing capabilities or the robot itself, the capital barriers to
adoption are effectively minimized. Service Robots are programmed to learn and
improve their knowledge while in operation due to machine learning.
Agriculture robots
can transmit important visual data to monitor the health of crops and
livestock. Customer service robots can even track customer behavior during
face-to-face encounters to gain a deeper understanding of consumer motivations
and desires. Large, multinational companies have been the early adopters of our
robots, and they are investing in continuously larger fleets of robots after a
period of testing different applications and validating the economic benefits.
As Cost of service robots decreases, they will become more mainstream. These
factors will contribute significantly to the market growth and will provide a
rapid expansion of the market within the forecast period.
Segment Analysis:
Service Robotics
Market is segmented by personal use and professional use. Service robots are
primarily used for the professional purpose. Personal use of service robots
involves Lawn-mowing, vacuuming, floor & window cleaning, Entertainment
robots, and Elderly and handicap assistance.
By application,
Global Service Robotics Market is segmented into Logistic systems, Defense
applications, Public relation robots, Field robots, Powered human exoskeletons,
and Medical robots. By market value, Logistic systems accounted for more than
one-third of professional service robots sales in 2017. The service robots used
in defense are mostly unmanned aerial vehicles. Unmanned ground-based vehicles
and demining robots are the other robots used in defense applications. The
service robots used as public relation robots were mostly telepresence robots,
robots for mobile guidance and information. Field robots segment primarily
consists of milking robots. The most critical application of medical service
robots are robot-assisted surgery or therapy. Medical robots are the most
valuable service robots in terms of unit price. Medical robots and logistic
systems are expected to be the fastest growing segment.
Geographical
Analysis:
By region, Service
robotics market is segmented into North America, South America, Europe,
Asia-pacific, and rest of the world. The US has the largest defense budget in
the world by a wide margin. Defense application is a major driver for service
robotics market is North America region. Logistics systems are also widely
employed in both North America and Europe. The aging population is a crucial
factor for the growth of service robots in Europe and Japan which are facing a
population crisis. North America dominated the service robotics market followed
by Europe. North America will continue to exhibit strong growth due to the
presence of various innovative companies and increasing adoption of service
robots in the retail industry.
Key Players:
Some of the major
players in the Service robotics market are Northrop Grumman, KUKA, iRobot,
Kongsberg Maritime, Parrot SA, Kongsberg Maritime, DJI, Intuitive Surgical, ECA
Group, Aethon, and Omron Adept. Service robotics market is characterized by the
presence of multiple start-ups and other large conglomerates making entry into
service robotics market.
In October 2018,
Vecna Robotics, a leader in next-generation mobile robotics, and RightHand
Robotics, a leader in robotic picking solutions, announced a collaboration to
improve the performance of e-commerce order fulfillment. In November 2018, LG
announced to develop service robot to assist supermart shoppers.
Why purchase the
report?
• Visualize the
composition of the Service Robotics Market across each indication, in terms of
type, application highlighting the key commercial assets and players.
• Identify
commercial opportunities in the Service Robotics Market by analyzing trends and
co-development deals.
• Excel data sheet
with thousands of data points of the Service Robotics Market level 4/5
segmentation
• PDF report with
the most relevant analysis cogently put together after exhaustive qualitative
interviews and in-depth market study
• Product mapping in
excel for the key Service Robotics Market products of all major market players
Target Audience
• Raw Material
Suppliers/ Buyers
• Product Suppliers/
Buyers
• Industry
Investors/Investment Bankers
• Education &
Research Institutes
• Research
Professionals
• Emerging Companies
• Manufacturers
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