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Service Robotics – A Revolutionary Solution for the Challenges of Today’s Marketplace

04-10-2019 11:30 AM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

/ PR Agency: Allied Analytics
Service Robotics Market

Service Robotics Market

The high-end advancement of technology has brought forth a number of wonders and service robots are one of those inventions that have witnessed widespread acceptance among a fleet of well-known industries. Service robots are a type of robot typically used for different industrial chores in a professional setting. Especially, repetitive and time-consuming tasks that are way too difficult for human workers are handled by these automation geeks pretty perfectly, thereby limiting human brains for cognitive functions only. Intended to interact with people, these robots are now in use quite extensively. Sectors like hospitality, healthcare, warehouse and retail are the most prominent ones to make the best use of this high-end automation technology. Even, there are robots that are deployed in several rugged settings to automate risky and laborious tasks.

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Service robotics market has seen a modest growth in the last few years. Rising labor cost, lack of skilled workforce, high investments in R&D, augmented demand for automation and most importantly, increasing awareness about the benefits of service robots have propelled the growth of the market to significant extent. Moreover, with smartphones being in rampant use, there has been a steep upswing noticed in application areas which, in turn, has provided immense growth opportunities in the market. According to Allied Market Research, the global service robotics market is anticipated to hit $34.7 billion by 2022, airing a CAGR of 23.9% from 2015 to 2022.

This trend is actually going to continue even for the next 5-6 years to come. Especially, as research and development evolves at a rapid pace, service robots have turned out to be a widely viable option in a large fleet of industries.

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Safety is perhaps one of the main concerns why businesses choose to set up service robots on board. Industries that manufacture large and heavy articles in bulk involve several risky and hazardous tasks that can be quite perilous for human workers. Even in the defense sector, this innovative technology is in wise use. These robots tend to protect soldiers from veritable harm during combat. Simultaneously, demolition robots give their best flair in keeping the workers away from several nuclear threats during the annihilation process. Service robots can hover around safely where human forces cannot.

Efficiency is again an important factor why service robotics have started dominating the market. Reduced operating costs and flawless robot uptime are the two major aspects that have made this automated technology strengthen its foothold in the current business scenario. As for instance, industrial cleaning robots and inspection robots perform with really less downtime which allows them to offer a better coverage of large machineries. Similarly, logistic robots can transfer a high volume of products, thereby diminishing labor costs to a significant extent.

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Productivity is again a big advantage offered by service robots. They are quite effective for greater data collection. Also, to get a flawless analysis of all the business operations on board, perhaps, there won’t be a better solution than this! When agriculture robots would diffuse crucial visual data to assess the condition of crops and livestock, customer service robots would keep a perfect track of customer behavior, thus having a proper understanding of consumer motifs. And, such vital operational data is actually difficult to pull together through manual processes.

Speed is again an important facet to consider. The fact that robots will never get distracted or take breaks makes a job get done really faster. Similarly, a robot will never feel frazzled too or start working slower. Neither, there will ever be any need for the employer to hold training sessions or employee meetings for them. Service robots can work 24*7 and this is what accelerates production to a significant extent. Right from overworking to meeting tough deadlines or apparently difficult standards, every single requirement will be perfectly met by these stirring technology.

Constancy matters! And, nothing other than automation can get this better! How rigorously they work, they are never dependent on the work of other resources. There will neither be any unexpected absenteeism nor any sort of emergency. Also, they will never go for undefined leave. They are always there and will continue doing whatever they are made for. In fact, robots are far more reliable and consistent than that of human beings.

Excellence is also there in the list! Certain chores of tasks (repetitive motion or menial work for example) that are generally not so preferred by human resources can be perfectly done by service robots. Perfection is what they adhere to. Every task they perform is quite bound to be flawless, as their nerves are never going to get grinded down, no matter how tedious the job is! And to attain this distinction, they don’t even need to take part in an employee wellness program! They will just remain consistent at their job irrespective of anything.

Last but not the least; service robots create new job opportunities as well. How? Automation certainly need manpower for supervision and monitoring. The more machines are there, the more resources would be needed to handle the technology. Even, the employees would be provided with the unique opportunity to grow a new set of amazing skills.

Well, the use of this new exciting technology is certainly not limited to the facets listed above. When there are already many more utilizations and forms of robots, these variations would amplify yet more. Especially, with huge potential of productivity, this exciting new technology is bound to pave the way for a brighter future. Contributing to high-end efficiency and productivity, in one form or the other, service robots are full of every prospect to help businesses of all kinds get the best value for their investment in the technology. Some may be outstanding at safety while others may shine at lifting heavy weight. But, whatsoever, it will always end up in increased productivity.

To conclude, it can be stated that the expanding market for service robots is just at a nascent stage now. With these automated genies to get in more and more markets, they will certainly bring a transformation to a wide range of industries.

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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