December 2 2019
Service Robotics Market, By Type (Domestic, Professional) By End-User (Healthcare, Defense, Electronics, Automotive, Transportation, Construction, Supply & Logistics, Media & Entertainment) - Forecast 2022
The global service robotics market can achieve a healthy CAGR of 15% CAGR during the forecast period (2016-2022), asserts Market Research Future (MRFR) in its in-depth study. It also stated that the market could also achieve a valuation of USD 20 Billion by 2022, which could be positive aspects of the market to expand more in the coming years.
Growth Drivers & Challenges
As per the study, it indicates that technological advancements, innovation, and high demands for automation have been considered as significant driving factors for the Service Robotics Market, at present. Presently, several organizations are facing challenges of finding a skilled workforce, coming through high labor costs, maintaining quality of service, where the implementation of service robotic to overcome these challenges has assisted the market is growing significantly. Such a factor is also considered as a motivating factor for the market to grow in the coming years.
At the same time, other factors such as high investments in Research & Development, rising awareness, and safety concerns for humans are also constructively driving the service robotics market. As service robotics are identified among personal/domestic service robots and professional service robots, these are being functional in a quick way. These are being on-demand in various businesses across the world, which has motivated the market to gain more populace than in previous years. Thus, it is expected that the global service robotics market could increase much traction during the assessment period.
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The prominent players in the Service robotics Market are - GeckoSystems Intl. Corp. (U.S.), Honda Motor Co. Ltd. (Japan), Adept Technology, Inc. (U.S.), KUKA AG (Germany), iRobot Corporation (U.S.), Kongsberg Maritime AS (Norway), DJI (China), Intuitive Surgical, Inc. (U.S.), Parrot SA (France), Grumman Corporation (U.S.), Fujitsu Frontech Limited (Japan), LG Electronics Inc. (South Korea), Samsung Electronics Co., Ltd. (South Korea) among others
The worldwide Service Robotics market has been categorized in terms of type and end-user.
Detailed Regional Analysis
The global service robotics market is mainly concentrated in the regions of Asia Pacific, North America, Europe and the Rest of the World.
Among these, the ongoing global trend towards robotics is being revealed in a surge in the number of service robots in the US. The study indicates that the North America region is leading the service robotics market in support of factors such as amplified demand of service robots by the defense, medical, construction sectors and inclination towards automation.
The study also reveals that Asia-Pacific would be the fastest-growing region in the service robotics market during the estimated period. The study also exposes that North America and Europe would illustrate hand-in-hand growth dominate the service robotics market by the forecast period.
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TABLE OF CONTENTS
LIST OF FIGURES
Figure 1 Research Network Solution
Figure 2 Service Robotics Types Market: By Type (%)
Figure 3 Service Robotics Types Market: By End-User (%)
Figure 4 Service Robotics Types Market: By Region
Figure 5 North America Service Robotics Types Market, By Type (%)
Figure 6 North America Service Robotics Types Market, By End-User (%)
Figure 7 Europe Service Robotics Types Market, By Type (%)
Figure 8 Europe Service Robotics Types Market, By End-User (%)
Figure 9 Asia-Pacific Service Robotics Types Market, By Type (%)
Figure 10 Asia-Pacific Service Robotics Types Market, By End-User (%)
Figure 11 Row Service Robotics Types Market, By Type (%)
Figure 12 Row Service Robotics Types Market, By End-User (%)
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