Service Robotics Market Latest, Study Combine With Challenges and Opportunities up to 2030

Report Ocean published the latest research report on the Service Robotics market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Service Robotics market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate.

The global service robotics market size was US$ 26.51 billion in 2021. The global service robotics market size is forecast to reach US$ 163.7 billion by 2030, growing at a compound annual growth rate (CAGR) of 22.2% during the forecast period from 2022 to 2030.

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Service robots are semi-automated or fully automated robots that perform beneficial and potentially harmful activities for humans. Humans benefit from these robots in a variety of fields, including medical and healthcare, construction, automation, household, and entertainment. These robots are controlled by an internal control system, with the option to overrule the operation manually. These service robots remove the possibility of human error, manage time, and increase production by lowering staff and labor workload. Because of benefits like the delivery of accurate and high-quality services, reduced operational expenses and human errors, and enhanced usability and dependability, service robotics has acquired widespread adoption in a number of professional and personal applications.

Factors Influencing Market Growth

Growing awareness about the advantages of robots, a surge in R&D investments, and rising demand for automation in the personal & professional sectors are forecast to drive the global market growth.
Rising the price of raw materials and semiconductor chips may slow down the overall market growth.
Swarm robotics is a system that helps in coordinating with multiple robots as a system. Swarm robotics has several benefits, including scalability, flexibility, and robustness. Thus, the rising adoption of swarm intelligence technology, allowing robots to accomplish various complex tasks with comfort, is forecast to offer lucrative opportunities for the global market during the forecast period.
Impact Analysis of COVID-19

The COVID-19 pandemic had a minimal impact on the global market growth. Robotics assisted the healthcare industry in dealing with major workforce shortages in healthcare, manufacturing, and supply chains. In addition, this robotics helped social distancing and diagnosis and treatment. In the healthcare industry, service robotics is critical. They reduce human intervention at every stage of the process, from patient evaluation to patient care and drug distribution.

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Regional Insights

Europe held dominance in the market in 2021 and is forecast to remain dominant during the forecast period. As a result of the rising government investment in the R&D sector, the growing need for service robots from retail, medical, defense, and logistics sectors in this region fuels the growth of robotics R&D activities in many sectors. Thus, boosting the global market growth in the region.

The Asia Pacific region is forecast to witness lucrative growth during the forecast period. As a result of the rising developing countries in the region. In addition, countries in the region are adopting robotics solutions due to technological advances and the advent of new enterprise models, such as the rising e-commerce and profitable retail sectors.

The United States has delivered gradual and steady economic growth within and beyond information technology since emerging from the global financial crisis. According to figures from the Bureau of Economic Analysis, the U.S. economy increased by 2.5 percent between 2010 and 2018.

Leading Competitors

The leading prominent companies profiled in the global service robotics market are:

iRobot Corporation
Intuitive Surgical Incorporated
Honda Motor Co., Limited
Panasonic Corporation
Aethon Incorporated
Yujin Robot Co. Limited
Samsung Electronics CO., Limited
DeLaval
Robert bosch GmbH
AB Electrolux
Other Prominent Players
Scope of the Report

The global service robotics market segmentation focuses on Application, Type, and Region.

Segmentation based on Application

Healthcare
Defense
Field
Logistics
Construction
Domestic
Entertainment
Others
Segmentation based on Type

Professional service robotics
Personal service robotics
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Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What is the goal of the report?

The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
During the forecast period, the report analyzes the growth rate, market size, and market valuation.
The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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