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Transforming Healthcare Through The Surging Role Of Service Robots In Meeting Industry Demands Emerges as a Core Driver of the Service Robotics Market in 2025
Service Robotics Market
What Is the Expected CAGR for the Service Robotics Market Through 2025?
The market size of service robotics has seen tremendous growth lately. It is projected to expand from a value of $60.61 billion in 2024 to an impressive $76.98 billion in 2025, with a compound annual growth rate (CAGR) of 27.0%. Factors contributing to this robust growth during the historical period include automation and labor scarcity, the aging population, healthcare demands, dangerous environments, and adoption in the service industry.
What's the Projected Size of the Global Service Robotics Market by 2029?
The market size of service robotics is projected to experience remarkable expansion in the upcoming years. The market value is predicted to reach $213.32 billion by 2029, with a compound annual growth rate (CAGR) of 29.0%. The anticipated growth during the forecast period could be due to factors such as investment in research and development, compliance with regulations, customer-oriented robotics, initiatives for smart cities, and robotics-as-a-service (RaaS). Trends to observe during the forecast period encompass adaptive and flexible robots, sustainability movements, digital transformation of data security and privacy, robotics in healthcare, and incorporation of artificial intelligence.
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Top Growth Drivers in the Service Robotics Industry: What's Accelerating the Market?
The service robotics market is set to expand as a result of escalating demand for robots across the healthcare sector. This sector covers companies that manufacture medical equipment or drugs and provide medical services. Routine logistical tasks are assigned to service robots in healthcare, which lift the day-to-day pressures off of healthcare workers. This arrangement allows healthcare professionals to turn their attention to more pressing patient needs, thereby enhancing the overall quality of healthcare. For example, the International Federation of Robotics, a Germany-based non-profit dedicated to fostering and protecting the global robotics industry, reported in June 2023 that the number of industrial robot installations in Europe had reached 72,000 units in 2022, marking a 6% increase from 2021. Hence, the escalation in the need for robots within the healthcare sector is fuelling the growth of the service robotics market.
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What Trends Will Shape the Service Robotics Market Through 2029 and Beyond?
Leading corporations in the service robotics market are concentrating on innovating new technological advancements, like Pudu's own mapping technology, to boost operation efficiency, enhance customer engagements, and broaden the use of service robots across numerous sectors. Pudu's distinct mapping technology provides exact navigation and obstacle dodging for their service robots within dynamic circumstances. For example, in April 2024, BellaBot Pro was launched by a tech firm based in China. BellaBot Pro leverages artificial intelligence to provide personalised greetings and customer interactions, which features enhanced dish recognition abilities that improve the dining experience by accurately identifying menu elements.
What Are the Main Segments in the Service Robotics Market?
The service robotics market covered in this report is segmented -
1) By Type: Professional, Personal And Domestic
2) By Component: Hardware, Software
3) By Environment: Aerial, Ground, Marine
4) By End-User: Healthcare, Defense, Electronics, Automotive, Transportation, Construction, Other End Users
Subsegments:
1) By Professional: Healthcare Robots, Logistics Robots, Agriculture Robots, Security And Surveillance Robots, Cleaning Robots, Construction Robots
2) By Personal: Companion Robots, Entertainment Robots, Educational Robots, Assistance Robots
3) By Domestic: Vacuum Cleaning Robots, Lawn Mowing Robots, Pool Cleaning Robots, Window Cleaning Robots, Home Security Robots
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Which Top Companies are Driving Growth in the Service Robotics Market?
Major companies operating in the service robotics market are Parrot SA, Aethon Inc., Honda Motor Co. Ltd., Panasonic Holdings Corporation, Yujin Robot Co. Ltd., Samsung Group, iRobot Corporation, Robert Bosch GmbH, Kongsberg Maritime, Daifuku Co. Ltd., Omron Corporation, SoftBank Group Corp., Boston Dynamics Inc., ABB Robotics, KUKA Roboter GmbH, FANUC Robotics America Inc., Yaskawa Motoman Robotics Inc., Universal Robots A/S, Clearpath Robotics Inc., Fetch Robotics Inc., Locus Robotics, Sarcos Robotics, Knightscope Inc., Seegrid Corporation, Simbe Robotics Inc.
Which Regions Will Dominate the Service Robotics Market Through 2029?
North America was the largest region in the service robotics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the service robotics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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