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Service robotics market forecast to 2022 insights shared in detailed report

The report aims at estimating the market size and future growth potential of the service robotics market based on operating environment, application, and region. The report also aims at providing detailed information regarding the major factors influencing the growth of the service robotics market (drivers, restraints, opportunities, and industry-specific challenges) and strategically analyzes micro-markets with respect to the individual growth trends, future prospects, and contributions to the total market.

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The growth in service robotics market is expected to be driven by rising demand for mobile-robotic solution across warehouse automation and logistics, and high demand from medical and healthcare sectors, and increasing usage of service robotics in education and research institutes. The short- to medium-term payback period supported by higher RoI is another factor leading to the growth of service robotics market in the near future.

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. Professional service robots are employed in various industries including healthcare, defense and security, agriculture, forestry, logistics, construction, and professional cleaning among others, whereas personal service robots are used for domestic and entertainment purpose.

- Agency -.

The report aims at estimating the market size and future growth potential of the service robotics market based on operating environment, application, and region. The report also aims at providing detailed information regarding the major factors influencing the growth of the service robotics market (drivers, restraints, opportunities, and industry-specific challenges) and strategically analyzes micro-markets with respect to the individual growth trends, future prospects, and contributions to the total market.

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The primary driver of this market is the increased usage of these robots in different sectors because of which the market for service robotics is estimated to grow at a fast pace. Contrastingly, one of the main restraints of this market will be the high cost of these robots.

Companies are employing extra efforts to bring the costs down so that individuals and companies could use service robots more.

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.

Service robotics has witnessed an upsurge in its adoption owing to high labor cost, lack of skilled workforce, increased investments in R&D, growing awareness regarding the benefits of service robots, and increased demand for automation among professional and personal sectors.

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The 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.

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   

o Educational robots  

o Leisure robots   

o Personal assistance robots  

 Table of Content:-         

1 Executive Summary 

2 Preface  

 2.1 Abstract 

 2.2 Stake Holders

 2.3 Research Scope

 2.4 Research Methodology

  2.4.1 Data Mining

  2.4.2 Data Analysis

  2.4.3 Data Validation

  2.4.4 Research Approach

 2.5 Research Sources

  2.5.1 Primary Research Sources

  2.5.2 Secondary Research Sources

  2.5.3 Assumptions

3 Market Trend Analysis

 3.1 Introduction

 3.2 Drivers 

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