Global Service robotics market is expected to reach $34.7 billion by 2022, with a CAGR of 23.9% from 2015 to 2022, according to a new report by published by Allied Market Research.The growing need of automation across various industries has encouraged organizations to adopt service robotics for increased productivity, superior quality and precise operations, reduced operation costs, and enhanced safety of workforce. Increasing labor costs coupled with lack of workforce further accelerate the growth of market.
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2. • Service Robotics Market have witnessed growth among various professional and
personal applications.
• Increasing need for safety along with government regulations for labor protection
drives organizations to adopt service robotics for enhanced safety at workplace.
• The growing penetration of mobile devices facilitates the development of advanced
robotic systems and boosts the growth of market.
• Vendors in the market focus on developing affordable and energy-efficient robots
for small and medium enterprises to cater to the growing requirements of
consumers.
Service Robotics Market Overview
3. • The significant rise in investments in R&D for the development of service robots
along with the establishment of organizations including Standardized Procedures
for the Advancement of Robotic Combat (SPARC) and International Federation of
Robotics (IFR), further fosters the growth of the market.
• Professional service robots are used in healthcare; defense, rescue, and security;
field; logistics; and construction industries.
• he segment of professional service robotics generated $3.9 billion in 2014 owing to
high demand of automation from these sectors.
• Reduction in labor costs, increased operational efficiency, and delivery of high-
quality services with improved precision and accuracy further encourages
consumers to employ professional service robots.
Service Robotics Market Overview
4. • Healthcare is the major end user industry, in terms of revenue generation, that
employs service robots for a wide range of applications such as surgery,
diagnostics, physical and mental therapy, and prosthetics among others.
• Patient monitoring, laboratory automation, drug discovery, and prescription
preparation are other applications of service robotics in the healthcare sector. It
accounted for over 35% share of the global market revenue in 2014, followed by
defense, rescue and security sector.
• In terms of volume, defense, rescue, & security robots accounted for the highest
share and generated around 11 thousand units in 2014 owing to the increased
employment of unmanned aerial vehicles, unmanned ground vehicles, firefighting
& disaster management robots, professional surveillance robots, and demining
robots.
• The healthcare segment is forecast to grow at the highest CAGR of 29.1% during
2015-2022 in terms of volume.
Service Robotics Market Segment Overview
5. • The service robotics market is projected to exhibit a significant growth owing to
increasing demand of automation from various industries, rising application areas,
and growth in emerging economies.
• The professional robotics segment is anticipated to dominate the market in terms
of revenue owing to the increasing applications from healthcare, defense, rescue
and security, agriculture, logistics, and construction industries.
• The healthcare industry is excepted to maintain its leading position in the market
during the forecast period in terms of revenue.
• Europe is likely to dominate the market throughout the forecast period.
Service Robotics Market Key Findings
6. Service Robotics Market Segement
• Professional Service Robots
• Personal Service RobotsBy Type
• Professional Applications
• Personal Service Robotics
By
Application
• North America
• Europe
• Asia-Pacific
• LAMEA
By
Geography
7. • iRobot Corporation
• Intuitive Surgical, Inc.
• Honda Motor Co., Ltd.
• Panasonic Corporation
• Aethon Inc.
• Yujin Robot, Co., Ltd.
• GeckoSystems Intl. Corp.
• Samsung Electronics Co., Ltd.
• Robert Bosch GmbH
• AB Electrolux
Service Robotics Market Key Players
9. “Europe dominated the global service robotics market in 2014 in terms of revenue and is
expected to maintain its dominance during the forecast period owing to the high demand of
service robots from domestic, healthcare, and defense sectors. However, LAMEA is expected to
exhibit highest growth in revenue, at a CAGR of 26.6% during the forecast period.”
Gunjan Malani
Service Robotics Market
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