Service Robotics Market Analysis, Trends, Growth, Research And Forecast 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Service Robotics Global Market Report 2023 identifies increasing demand for robots in the healthcare sector as the major driver for the service robotics market's growth in the forecast period. The healthcare sector refers to businesses that provide medical services and manufacture medical equipment or drugs. Service robots are used in the healthcare sector to handle regular logistical duties and reduce the everyday stress on healthcare professionals. It also helps in providing them more time to focus on urgent patient requirements, thereby improving the overall level of patient care.

The global service robotics market size is expected to grow from $37.87 billion in 2022 to $47.84 billion in 2023 at a compound annual growth rate (CAGR) of 26.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The service robotics market is expected to grow to $125.95 billion in 2027 at a CAGR of 27.4%.

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Major competitors in the service robotics market are Parrot SA, Aethon Inc., Honda Motor Co Ltd., Panasonic Holdings Corporation, Yujin Robot Co Ltd., Samsung Group, AB Electrolux, Northrop Grumman Corporation, iRobot Corporation

A key trend in the service robotics market includes technological advancement. Major companies operating in the market are introducing new technologies that work on artificial intelligence (AI) to lead the market. For instance, in January 2021, Hyundai Motor Group, a South Korea-based automotive manufacturer, launched DAL-e, an AI-driven humanoid robot for automated customer services. This robot is equipped with state-of-the-art facial recognition technology powered by artificial intelligence, as well as an autonomous communication system developed on a language-comprehension platform. It will be used in various fields which require regular interactions with customers. This robot is designed to offer pleasant experiences to customers in a contact-free environment while also saving costs and improving productivity.

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The service robotics market is segmented -
• By Type: Professional, Personal And Domestic

• By Component: Hardware, Software

• By Environment: Aerial, Ground, Marine

• By End-User: Healthcare, Defense, Electronics, Automotive, Transportation, Construction, Other End Users

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the service robotics market.

The Business Research Company's "Global Service Robotics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Service Robotics Market Include:
1. Executive Summary
2. Service Robotics Market Characteristics
3. Service Robotics Market Trends And Strategies
4. Service Robotics Market - Macro Economic Scenario
5. Service Robotics Market Size And Growth
……
26. Africa Service Robotics Market
27. Service Robotics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Service Robotics Market
29. Service Robotics Market Future Outlook and Potential Analysis
30. Appendix

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