Service Robotics Market Outlook to 2024 – Key Players are 3D Robotics, AeroVironment, BAE Systems, DeLaval, DJI, Intuitive, Medtronic, Northrop Grumman, Parrot, Samsung Electronics and SoftBank Robotics Europe

Service Robotics market is projected to reach a revenue of over USD 20 billion in 2024. These systems are anticipated to witness a high growth during the forecast time span owing to their high convenience, reliability, and the efficiency as compared to the conventional labor solutions. The rising proliferation of IoT and the integration of AI are aiding in the transformation of the service robotics market.

These systems reduce the number of faults and errors and provide accurate and high-quality services. The cost of labor is increasing at a very drastic rate. For instance, hourly labor costs in the Euro area (EU28) witnessed a 2.2% yearly growth until 2016. The increase in labor costs is increasing the overall costs of the goods and services that are produced. Additionally, these can reduce an organization?s profits and cause them to incur higher financial costs such as payroll taxes, increments, and hiring subsidies.

Get Sample Copy of This Report @ https://www.gminsights.com/request-sample/detail/130

Service Robotics Market, By Application

• Professional
• Defense
• Field
• Healthcare
• Logistics
• Others
• Personal
• Household
• Entertainment

The service robotics market players 3D Robotics, AeroVironment, Aethon, BAE Systems, DeLaval, DJI, ECA Group, ECOVACS Robotics, Geckosystems International Corp (GOSY), Honda Motor Co. Ltd.,Intuitive, IROBOT CORPORATION, Lely, Medtronic, Northrop Grumman,Omron Adept Technologies, Parrot, Samsung Electronics, SoftBank Robotics Europe and Yujin Robot Co., Ltd.

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.

Make an Inquiry for purchasing this Report @ https://www.gminsights.com/inquiry-before-buying/130

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.

Browse Complete Report: https://www.gminsights.com/industry-analysis/service-robotics-market-size

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.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com/

This release was published on openPR.