The global service robotics market was valued over USD 7 Billion in 2016. Service robots have witnessed widespread acceptance among various professional and personal applications owing to benefits such as enhanced usability, delivery of accurate and high-quality services, reliability, and reduced operational costs and human errors.
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Professional service robots are employed in various industries including medical, defense, rescue and security, agriculture, logistics, construction, and professional cleaning among others, whereas personal service robots are used for domestic and entertainment and leisure purpose.
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The global service robotics market is expected to almost triple by 2022 from the 2016 level, driven by an upsurge in its adoption owing to high labor cost, lack of skilled workforce, increasing research and development investments, growing awareness regarding the benefits of service robots, and increased demand for automation among professional and personal sectors. However, high initial investment and concern for human safety restricts the growth of the market.
Key Highlights of the Service Robotics Market Report:
The global service robotics market is expected to almost triple by 2022 from the 2016 level.
The global professional service robotics market was valued nearly US$ 5 Billion in 2016.
The market for personal and domestic service robotics segment is expected to grow from US$ XX Billion in 2016 to around US$ XX Billion by 2022.
The global professional service robotics sales volume is predicted to exceed 150,000 units by 2021.
In 2016, medical application was the major industry vertical, in terms of market share, followed by logistic applications.
Agriculture/field robots controlled over 20% share of the professional service market in 2016.
In volume terms, the logistic robots accounted for maximum share of the overall professional service robotics volume in 2016.
The medical robots accounted for single digit share of the professional service robotics volume in 2015, due to expensive nature of these devices.
The exoskeletons robotic market was valued worth US$ XX Million in 2015 and the market increased to US$ XX Million in 2016.
Almost XXXX units public relation robots were sold in 2016, 133% more than in 2015.
Mobile platforms and cleaning segment captured XX% and XX% share of the professional service robotics volume respectively in 2016, while construction segment accounted for XX% volume share in the same year.
Household robots accounted for maximum share of the personal and domestic service robotics market in 2016.
It is anticipated that the entertainment and leisure robot will account for over 30% share of the personal and domestic service robotics market by 2022.
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