Service Robotics Market Size, Growth Insights, Industry Trends, Report 2024-2031 | Hanool Robotics Corporation, KUKA AG, Northrop Grumman Corporation, ECA Group

Global Service Robotics Market was worth $8,640.58 million in 2023 and is expected to grow at a CAGR of 21.26% during the forecast period 2024-2031

Service Robotics Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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The International Organization for Standardization (ISO) defines a service robot as a robot designed to perform useful tasks for humans or equipment, excluding industrial automation applications. These robots offer a significant source of interaction and are evaluated based on factors such as market readiness, technology maturity, delivered value, cost, availability, and the advancement of related technologies.

As companies seek to enhance productivity, efficiency, scalability, and flexibility while addressing labor shortages, robotics is increasingly being adopted as a key solution. These factors are driving substantial interest and investment in robotic technology, fueling its rapid growth and innovation across various industries.

List of the Key Players in the Service Robotics Market: Hanool Robotics Corporation, KUKA AG, Northrop Grumman Corporation, ECA Group, iRobot Corporation, Gecko Systems Corporation, RedZone Robotics, Yaskawa Electric Corporation, Honda Motors Co. Ltd., SZ DJI Technology Co., Ltd., SIASUN Robot & Automation Co Ltd, Ecovacs Robotics, Canny Elevator Co., Ltd. And Shanghai Xiaomi Robot Technology Co., Ltd.

Industry Development:

The Kion Group acquired Dematic Corp. for $2.1 billion. Kion's biggest single shareholder is Chinese diesel-engine maker Weichai Power with a 38.3% stake. Kion has been on a tear acquiring all sorts of companies in the logistics sphere: Egemin, Linde, Retrotech, and now Dematic.

ThermoFisher Scientific acquired Affymetrix for $1.3 billion. Adding Affymetrix's products will help ThermoFisher expand its array of lab equipment and robots into biosciences and genetic analysis workflows.

Growth Forecast Projected:

The Global Service Robotics Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Service Robotics Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Service Robotics Market:

By Operating Environment (Aerial, Land, Underwater)

By Type (Personal Application, Research Robots, Domestic Robots, Entertainment Robots, Professional Application, Defense and Security, Field Robots, Medical Assisting Robots, Logistics & UAV Drones)

By Components (Sensors, Actuators, Control Systems, Software, Others)

By Verticals (Government, Logistics & Transportation, Agriculture & Mining, Healthcare, Military & Defences, Others)

Regional Analysis for Service Robotics Market:

The regional analysis of the Service Robotics Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Service Robotics market?

➠ Who are the leading manufacturers in the global Service Robotics industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Service Robotics industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Service Robotics market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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