Service Robotics Market 2018 Top Manufacturers: Medtronic, Northrop Grumman, Samsung Electronics, Softbank Group, AeroVironment Inc, BAE Systems, DJI, Ecovacs Robotics, Honda Motor Co., Ltd, Intuitive, iRobot Dominating

The U.S. service robotics market is anticipated to witness growth over the forecast timeline. It can be attributed to the rising demand for robots across various sectors, which include defense, logistics, healthcare, agriculture, and households. Increasing number of players entering the marketplace with new & advanced technological features further contributes to the regional industry demand. Moreover, the increasing adoption of household robots for performing everyday tasks coupled with the rising wage rates across various economies is compelling the adoption of robots, contributing to the Asia Pacific service robotics market.

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Rising deployment of professional robots, such as drones, ground-based, and marine robots across the military & defense sector, is anticipated to drive the service robotics market growth. It can be attributed to the advantages offered by these machines, which include reducing human casualties, performing hazardous tasks, lowering the operational costs, collecting better intelligence, enabling effective surveillance, and improving the attack capabilities. Furthermore, increasing demand for the automated processes with higher efficiency and accuracy across the dairy sector to improve the productivity is driving the field robots segment in the service robotics market.

Increasing utilization of healthcare robots in applications, such as surgeries, diagnostics, monitoring, and mental & physical therapy, will drive the healthcare service robotics market growth. Hospitals are increasingly using robotics in rehabilitation activities, which include orthotics and assistive devices such as wheelchairs. However, the demand for robotics in the logistics sector is on the rise owing to the growing e-commerce sector followed by the increasing efforts by industries to reduce the labor cost & optimize the processing speed.

The adoption of the service robotics market is highly beneficial in the reduction of human casualties suffered during activities, primarily in defense and certain research activities such as underwater cave discoveries. In recent years, internal and external security threats have compelled governments of various organizations to adopt these solutions and are substantially contributing to the strong growth of the service robotics market. These systems can be used in conducting discrete surveillance activities or for implementing activities that are highly dangerous to human personnel.

The personal product segment of the service robotics market is predicted to dominate in terms of revenue during the forecast timeframe. Personal robots, such as vacuum cleaners, automated wheelchairs, and domestic servants, among others have aided in improving the quality of life and providing an increased convenience to their users. For instance, in homes with geriatric inhabitants, who live alone, these robots are ideally suited for monitoring and diagnosing patients by relaying the information back to the medical practitioners or alerting authorities during emergencies such as when the patient falls from a wheelchair.

The professional application segment of the service robotics market is anticipated to witness a high growth owing to the increasing adoption of these systems for carrying out mundane and monotonous tasks such as milking, packing, and other activities. Medical robot systems are finding increasing applications in providing assistance during surgeries, therapy, and patient caring, contributing to the heavy growth of the service robotics market. For instance, Robot Aps has developed and launched a rehabilitation robot to assist health professionals with patients, who are bed-ridden, reducing the dependence on nurses for actions such as heavy lifting.

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The increase in manufacturing and industrial activities, primarily in the South-East Asian and Latin American regions, contributes to the strong growth of the service robotics market. For instance, warehousing robots are deployed in factory spaces to reduce monotonous activities such as shelving and packing and increasing the output as compared to the manual labor. Additionally, the Asia Pacific region is also incorporating these systems as a part of its education and teaching sector. Pre-schools in Singapore, for instance, have implemented humanoid robots on a testing basis to deliver high-quality education to students.

The service robotics market players comprise Bluefin Robotics, BAE Systems, AeroVironment, Inc., OMRON Adept Technologies, Inc., 3D Robotics, iRobot Corporation, Medtronic, Delaval International AB, ECA Group, Geckosystems Intl. Corp., and Intuitive Surgical, Inc. Companies are required to continuously invest in business strategies, such as R&D, partnership, mergers, and acquisitions, to sustain growth in the global service robotics market. For instance, in May 2016, Medtronic entered into a partnership agreement with Mazor for the development of surgery robots and the launch of its internally-developed robotic surgery program.

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Market share calculation in this report is not done based on companies covered in it. The calculation of Service Robotics Market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.

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