[PDF] Professional Service Robots Is Expected To Exhibit a CAGR of 24.5% during (2020-2027)| openpr.com

Market Trends

Development of new software solutions

Key companies are focused on the development of new software solutions, in order to enhance the capabilities for professional service robots. For instance, in May 2020, RoboDK, a Canada-based robotic software company, partnered with RobCo SWAT, a Bulgarian robotics company, to provide robotic simulation software solutions to the automotive industry.

Robots-as-a-service (RaaS) business model

Robots-as-a-service (RaaS) is an emerging business model, which combines advanced technologies such as artificial intelligence, cloud computing, and shared services. The trend of the RaaS business model is rising in the market where robotics companies lease robotic devices as cloud-base services. RaaS offers affordable robotics service, provides customer satisfaction, and enhanced employee engagement.

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1. What is the current market size and Compound Annual Growth Rate (CAGR) of the market ?
- The global professional service robots market size was valued at US$ 109.9 billion in 2027 and is estimated to exhibit a CAGR of 24.5 % between 2020 and 2027.

2. Key factors driving the growth of the Professional Service Robots market?
- Major factor driving the growth of global professional service robots market during the forecast period is increasing use of IoT in robots for cost-effective predictive maintenance.

3. What is the key factors hampering the growth of the market?
- Major factors hampering the growth of the professional service robots constitutes prevalent concerns over data privacy and regulations.

4. Who are the key players operating in this market?
- Some of the key players operating in the market are Northrop Grumman Corporation, Boston Dynamics, Inc., Daifuku Co., Ltd., Aethon Inc., AB Electrolux, Kuka AG, iRobot Corporation, Robert Bosch GMBH, Elbit Systems Ltd., Gecko Systems International Corporation, and Yujin Robot Co., Ltd.

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