Service Robotics - Global Market is expected to reach $28.24 billion by 2016 - 2022

Global Service Robotics Market is expected to grow from $7.5 billion in 2015 to reach $28.24 billion by 2022 with a CAGR of 20.9%. Increasing smart technologies, growing applications of healthcare, rapid industrialization, increasing investments in R&D, and rising usage of service robots in defence and security are the key factors driving the market growth. The future market for the service robots lies in personal robots used in household applications. Lack of sophisticated cognitive competencies and high cost are the factors hindering the market growth.

Professional Service Robots segment leads the market globally with the biggest market share and is expected to grow with a high CAGR during the forecast period due to augmented investments in R&D, increasing awareness regarding the benefits of service robots, and improved demand for automation among professional sectors. Asia Pacific is anticipated to hold the largest share in global market due to growing R&D investments for new robotics technology, mainly for use in defence, rescue and security and medical applications.

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Some of the key players in global Service Robotics market include Kongsberg Maritime AS, Samsung Electronics, Sony Corporation, AB Electrolux, Toyota Motor Corporation, Amazon.Com, Inc., Apple Inc., Bluefin Robotics, Fuji Soft Inc., Geckosystems Intl. Corp., Google Inc., Honda Motor Co., Ltd., LG Electronics, Microsoft, Inc, Northrop Grumman Corporation, and IRobot Corporation

Applications Covered:
Personal Service Robots
Educational robots
Leisure robots
Personal assistance robots
Research and Hobbyists
Security
Entertainment
Domestic
Toy robots
Other Personal Service Robots Applications

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Professional Service Robots
Defense, Rescue, & Security
Agriculture and forestry
Aerospace
Infrastructure
Medical
Underwater
Other Professional Service Robots Applications

Regions Covered:
North America
US
Canada
Mexico

Europe
Germany
France
Italy
UK
Spain
Rest of Europe

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Asia Pacific
Japan
China
India
Australia
New Zealand
Rest of Asia Pacific

Rest of the World
Middle East
Brazil
Argentina
South Africa
Egypt

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This release was published on openPR.