Press release
Service Robotics Market Size Analysis By Growth, Emerging Trends, And Future Opportunities To 2030
The global service robotics market size was US$ 25.4 billion in 2021. The global service robotics market is forecast to grow to US$ 150.23 billion by 2030 by growing at a compound annual growth rate (CAGR) of 25.17% during the forecast period from 2022 to 2030.Request To Download Sample of This Strategic Report :-https://reportocean.com/industry-verticals/sample-request?report_id=Pol641
Competitors in the Market, Daifuku Co. Ltd, Dematic Corp., Swisslog Holding AG (KUKA), Northrop Grumman Corporation, Seegrid Corporation, Murata Machinery Ltd, Omron Adept Technology, Inc., Bastian Solutions Inc., JBT Corporation, SSI Schaefer AG, Grenzebach GmbH & Co. KG, Transbotics Corporation, Mazor Robotics Ltd, Smith & Nephew PLC, Stryker Corp., Intuitive Surgical Inc., Knightscope Inc., SZ DJI Technology Co. Ltd, Kollmorgen Corporation, Other Prominent Players
Factors Influencing the Market
Service robots are gaining significant popularity in the military and defense sectors. They are highly used for bomb disposal. Thus, the growing military expenditure and favorable investments by government bodies will contribute to the growth of the market. For instance, in December 2018, the British Army announced its plan to deploy bomb disposal robots, Unmanned Ground Vehicles (UGVs), equipped with high-definition cameras. Thus, it will significantly contribute to the growth of the global service robotics market during the study period.
The wide applications of service robots in healthcare, construction, public relation, and agriculture will benefit the global service robotics market.
Service robotics offer productivity and improve the process. In addition, it can be used at places where human reach is not possible. Thus, these advantages will escalate the growth of the market during the study period.
With the ongoing advancements and R&D activities, service robotics is forecast to offer broader and more flexible services. Thus, it will escalate the growth of the overall service robotics industry.
The growing e-commerce industry and growing adoption of service robotics by prominent retail vendors like AGVs drive the market forward. For instance, Kroger inked a partnership with United Kingdom online supermarket Ocado, with the aim to deploy its technology to manage warehouse operations in the United States.
High installation costs may limit the growth of the market.
COVID-19 Impact Analysis
The sudden onset of the COVID-19 pandemic increased the adoption of service robotics in the healthcare and retail segment. E-commerce industries began adopting service robotics in order to cater to the public demands with efficiency. In addition, it also reduces the risk of virus transmission. Thus, the market witnessed significant growth opportunities.
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Regional Analysis
The Asia-Pacific service robotics market is forecast to grow at a significant growth rate. It is due to the contribution of government bodies. For instance, the Chinese government has listed down the robotics industry and AI and automation industry for high-end development. In addition, the country is also launching a seven-year autonomous agriculture pilot program in Jiangsu Province. Such efforts are likely to be a major push towards market growth.
Market Segmentation
The global service robotics market segmentation focuses on Component, Type, Environment, End-User, and Region.
By Component Outlook
Hardware
Airframe
Sensors
Cameras
Actuators
Power Supply
Control Systems
Navigation Systems
Propulsion Systems
Others
Software
By Type Outlook
Professional
Personal and Domestic
By Environment Outlook
Aerial
Ground
Marine
By End User Outlook
Logistics
Military and Defense
Medical and Healthcare
Public Relations
Construction
Agriculture
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By Regional Outlook
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 are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.
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