Service Robotics Market Size To Reach USD 59.65 Billion at

New York, US, March 13, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Service Robotics Market” Research Report: By Type, Region, End-Users - Forecast Till 2030, the market was valued US$ 19.5 billion in 2021; is anticipated to acquire a valuation of approximately USD 59.65 billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 15% during the assessment timeframe.  

Service robots are autonomous and/or operated by a built-in control system that can perform useful tasks for humans according to their intended application. They can perform tasks independently without requiring human interference by manipulating objects in their environment to achieve specific goals. Service robots are used in a number of industries and for personal/domestic use.

They have made human life easier by providing self-assistance for every activity. They offer highly reliable performance owing to their high efficiency in working and programming protocols. The advantages of using service robots are immense, such as higher flexibility in working, enhanced data collection activities, and the ability to perform analysis efficiently. 

With their interoperability management software, they offer end-to-end deployment services. Service robots can significantly reduce labor costs and help solve skilled workforce shortage problems. Growing automation in both professional and personal sectors, alongside the rising awareness of service robots benefits, drives the market demand. The adoption rate of service robots is anticipated to accelerate significantly in the coming years.

Commercial applications of service robots include retail, agricultural, domestic, and industrial cleaning services. In hospitality and home care businesses, AI-enabled and autonomous service robots assist in serving food & drinks and clear tables, allowing the hotel and home care employees to focus on delivering outstanding service to customers and patients.

Get Free Sample PDF Brochure:

https://www.marketresearchfuture.com/sample_request/2437

Service Robotics Market Key Players

Key players leading the global service robotics market are

  • Gecko Systems Intl. Corp. (US)
  • Honda Motor Co. Ltd. (Japan)
  • Adept Technology Inc. (US)
  • KUKA AG (Germany)
  • iRobot Corporation (US)
  • Kongsberg Maritime AS (Norway)
  • DJI (China), Knightscope, Inc. (US)
  • SoftBank Robotics (US)
  • Intuitive Surgical Inc. (US)
  • Parrot SA (France)
  • Grumman Corporation (US)
  • Fujitsu Frontech Limited (Japan)
  • LG Electronics Inc. (South Korea)

Report Scope:

Report MetricDetails
Revenue forecast in 2030USD 59.65 Billion
Growth RateCAGR of 15% from 2022 to 2030
Base Year2021
Study Period2022-2030
Key Market OpportunitiesAdopting swarm intelligence technology enables service robotics to perform various complex tasks easily.
Key Market DriversRising use of IoT in robots for cost-effective predictive maintenance Growing investment in research on the service robotics

Browse In-depth Market Research Report (110 Pages) on Service Robotics Market:

https://www.marketresearchfuture.com/reports/service-robotics-market-2437

Industry Trends

Currently, the market is witnessing enormous traction due to the increasing trend of automation in production and manufacturing processes. Moreover, rapid technological upgrades have sped up the development of autonomous service robots. Moreover, growing applications and adoption of service robotics in autonomous warehouses and logistics industries escalate the market value. 

Conversely, government regulations and security concerns related to service robotics restrict the market's growth. In the current scenario, machines have been progressing from being entirely manual for having a fixed automatic function to becoming intelligent where they can deal with real-world situations themselves.

Service Robotics Market Segments

The service robotics market report is segmented into types, end users, and regions for a better understanding. The service robotics type segment is sub-segmented into domestic and professional. The end user segment is sub-segmented into healthcare, defense, electronics, automotive & transportation, construction, and others. The region segment is sub-segmented into Asia-Pacific, North America, Europe, and the Rest-of-the-World.

Regional Analysis

North America dominates the global service robotics market, heading with the huge technological advancement in robotics. Additionally, factors such as increasing demand for service robotics from various sectors and increasing focus on enhancing industrial communication capabilities, especially in the defense sector, drive the regional market's growth. 

The US is the leading market in the region and the largest revenue generator in the global service robotics market. Moreover, the massive spending on growing military UAV activities and growing applications of AGVs have opened up a big market for autonomous robots. Moreover, the presence of major robotic players in the US has been helping the regional market to become more dominant compared to other regions. 

Ask To Expert:

https://www.marketresearchfuture.com/ask_for_schedule_call/2437

The Asia Pacific region is the second-largest market for service robotics. Rapidly emerging countries in the APAC, such as India and China, are increasingly investing in commercial and military activities. India has the maximum potential to grow during the forecast period. Furthermore, factors such as rapid economic growth, increased R&D activities, and the demand for new autonomous technology from burgeoning sectors such as automotive and aircraft are propelling the regional market. 

The European service robotics market has been emerging as a promising space globally. European countries are initiating regulations transforming and expanding the service robotics market in the region. Moreover, increasing activities of R&D, increasing commercial applications, and modifications in service robotic systems are some of the key factors acting as major tailwinds to the growth of the market. 

Service Robotics Market Competitive Analysis 

Highly competitive, the service robotics market appears fragmented due to the presence of several well-established players. These players incorporate strategic initiatives such as acquisition, collaboration, partnership, expansion, and product/ technology launch to maintain their positions and gain a competitive advantage in this market. 

These players focus on new product development initiatives and geographical expansion. The global service robotics market is anticipated to witness relentless innovations and new product development, eventually resulting in intense competition among manufacturers.

For instance, on Mar.09, 2023, LG Uplus announced a partnership by signing an MoU with Bigwave Robotics (South Korea), a leading operator of robot automation platforms, to strengthen its robot business. This business agreement enables LG Uplus to provide seamless service robots that use LTE/5G communication to all stores and industrial sites. The two companies will jointly develop related robot solutions using new business models.

Check for Discount:

https://www.marketresearchfuture.com/check-discount/2437

They will expand their share in the robot market by collaborating on customers' overall needs. New service robots will be used for customer consulting, pilot operation of robots, and installation & maintenance. The two companies will showcase logistics robotics at the 2023 Smart Factory Automation Industry Exhibition, COEX. 

The company decided to collaborate with Bigwave Robotics for its innovative services in the robot market and a wealth of customer data. Bigwave Robotics will play an important role in marketing LG Uplus products to new customers through AI analysis of My Robot Solution. It has a large customer base and cooperative relationships with about 400 suppliers. Its ‘MyRobot Solution’ is a platform that recommends the optimal robotics suitable for the intended situation and environment.

Related Reports:

RF Test Equipment Market Research Report: Information by Connectivity, Form Factor, Frequency, End User and Region - Forecast till 2027

Test and Measurement Equipment Market Research Report Information By Component, By Service and, By Product, By Application - Forecast till 2030

Embedded Systems Market Research Report: By Type, Microcontroller Performance, Functionality, Application and Region - Forecast till 2030

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Follow Us: LinkedIn | Twitter


Service Robotics Market Size To Reach USD 59.65 Billion at

TIN LIÊN QUAN

Driver Assistance System Market Size To Reach USD 73

Increasing Interest towards Vehicle Automation to Drive the Driver Assistance System Market...

Semiconductor Assembly and Testing Services (SATS) Market

Growing Chip Demand Drives Global SATS Industry...

North America Commercial Nuclear Power Market Size

BWX Technologies Inc., Doosan Heavy Industries & Construction Co. Ltd, Mitsubishi, Heavy Industries Ltd, GE-Hitachi Nuclear Energy Inc., Westinghouse...

Linear Motion System Market To Reach USD 14.22 Billion at a

Increasing Need in Healthcare Industry to Boost Linear Motion System Market Growth ...

Particleboard Market Expected to Grow at 5.2% CAGR Till

NEW YORK, March 10, 2023 (GLOBE NEWSWIRE) -- IndexBox, a leading market research firm, has released its latest report on the global wooden particle board...

Virtual Router Market Projected To Hit USD 1.4 Billion at a

Asia-Pacific is expected to be the fastest growing region in the virtual router market due to growing penetration of software defined networking (SDN) and...

Optical Sensing Market Size to Hit USD 6.7 Billion at a

Optical Sensing Market is increasing penetration of smartphones...

Frequency Synthesizer Market is Predicted to Reach USD 2.11

Increasing Adoption from Military & Aerospace Sector to Boost Frequency Synthesizer Market Growth...

THỦ THUẬT HAY

4 cách xử lý iPhone bị đơ khi đang sử dụng

Tình trạng đang sử dụng mà iPhone bị đứng không phải là quá xa lạ. Nếu tình trạng này xảy ra với tần suất thấp thì không có gì phải nói, còn ngược...

Smartphone Android chạy chậm, xử lý làm sao?

Chậm, lag là hiện tượng phổ biến của người dùng smartphone sau một thời gian dài sử dụng, đặc biệt là đối với những điện thoại trong phân khúc giá rẻ và tầm trung. Vậy có cách nào để khắc phục hay không? Cùng tìm hiểu

Hướng dẫn cách gõ tiếng Việt có dấu trên máy tính

Điều kiện cần để bạn có thể gõ được tiếng Việt trên máy tính là phải có cài bộ hỗ trợ gõ tiếng Việt. Có rất nhiều ứng dụng hỗ trợ gõ tiếng Việt nổi bật khác nhau, nhưng chúng tôi chỉ giới thiệu tới các bạn 2 bộ gõ

7 ứng dụng dành cho Android đang miễn phí và giảm giá

Tiếp tục cập nhật danh sách 'Free App' hằng ngày dành cho smartphone Android, TCN đã tổng hợp thêm khá nhiều ứng dụng và game trả phí đang được miễn phí. Nếu bạn quan tâm hãy nhanh tay tải về trước khi bị tính phí trở

Cách cài Windows 10 bằng Hyper-V và cài máy ảo trên Hyper-V

Nếu như bạn đang cần một công cụ, phần mềm để cài Windows 10 hay bất cứ hệ điều hành nào dưới dạng máy ảo thông thường chúng ta sẽ nghĩ đến ngày phần mềm VMWare. Đơn giản vì cài Windows 10 bằng VMWare rất dễ dàng, được

ĐÁNH GIÁ NHANH

So sánh Galaxy Z Fold3 5G và Surface Duo 2: Microsoft có thắng nổi Samsung?

Galaxy Z Fold3 5G và Surface Duo 2 đều là hai chiếc smartphone sở hữu thiết kế vô cùng độc đáo hiện nay. Mời bạn cùng chúng tôi so sánh Galaxy Z Fold3 5G và Surface Duo 2 để xem hai model này có gì khác biệt nhé. So

Đánh giá chi tiết cấu hình và hiệu năng Galaxy A3 2017

Hiện em út dòng A 2017 là thiết bị có số lượng bài viết khá ít ỏi, quyết không để A3 2017 bị ghẻ lạnh. Mời các bạn cùng đến với bài đánh giá chi tiết Galaxy A3 2017 sau một thời gian khá lâu giữ em nó nhé.

So sánh MacBook Pro 2023 và 2021: Liệu có đáng nâng cấp

MacBook Pro 2023 là phiên bản tiếp theo của MacBook Pro 2021 14 inch và 16 inch, cùng so sánh 2 phiên bản này có sự khác nhau như thế nào? Có đáng để nâng cấp trong năm 2023 hay không trong bài viết này.