Service Robotics Market Overview

The report is titled as ‘Service Robotics Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the service robotics market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The service robotics market is expected to grow at a significant rate in the near future.

The service robotics market size was valued at US$ 35.4 Bn in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 27.4% from 2020 to 2028

Service Robotics Market Definition

Initially, the idea of robotics was only enforced in an industrial context as a mode of automation. The process automation allows the accomplishment of processes in an efficient and reliable way along with maintaining the constant quality level.

Moreover, there are numerous other benefits lie in the escalated output, the deduction in personnel costs, and in releasing the workforce from repetitive, dull, or complex tasks. Noticeably, among all other industries, the automotive industry, where there is a huge need for automation, the concept of robotics is enormously helpful for superior earnings and productivity in the processes.

However, in the modern-world scenario, along with the idea of industrial robots, service robots have appeared in the picture as well. By virtue of many advancements in sensor technology, robots are no longer restricted to a manufacturing and industrial context but can function in open and spontaneous environments of day to day life.

Although, the major factor that makes all the difference between an industrial robot and a service robot is not the robot itself but rather the framework it is functioning in. Basically, service robots carry out tasks in the human ecology that deliver human needs.

In addition, the rapidly evolving service sector, in present times, further stimulates the need for service robotics or service robots as they are likely to be the key to forthcoming competitive advantage. Attributing to which, the service robotics market is projected to grow higher in the coming years.

Service Robotics Market Dynamics

The idea of service robotics is mainly designed for the purpose of serving in human environment or environments except industrial automation application. Also, service robotics also differs in two types as domestic/personal service robots and commercial/professional service robots.

The robots which are majorly used to perform routine chores, or employed for non-commercial use, and others are commonly known as the domestic/personal service robots. Whilst the robots which are used to accomplish commercial jobs and are functioned by skilled and trained operators are known as the professional service robots.

The exponentially flourishing service sector, in the current times, is one of the primary factors that is boosting the growth of the global service robotics market worldwide. In addition, the various technological advancements and innovations, with regard to interaction, cognizance, and management, have further evolved service robotics into a more appealing and attractive concept across various industries worldwide. Owing to which, the global service robotics market is further expected to escalate higher in the forthcoming years.

The novel idea of service robotics has drawn attention of several different industries across the world owing to numerous benefits it offers, including are delivery of accurate and high-quality services, enhanced usability, reduced human errors as well as operational costs, and reliability, ultimately resulting in the widespread acceptance of service robots worldwide. Such factors are also estimated to positively fuel the growth of the global service robotics market in the years to come.

With the same token, commercial/professional service robots are employed in various industries comprising defense and security, healthcare, forestry, agriculture, construction, and logistics among others, whereas domestic service robots are used for personal and entertainment purposes.

The shortage of skilled and trained workforce, increased human errors as well as labor costs, surging technological advances and increasing awareness regarding beneficial factors of the service robots is further positively propelling the demand of service robots in the global markets, thereby projected to give major breakthroughs to the growth of the globals service robotics market over the forecast period.

Service Robotics Market Segmentation

The global service robotics market is segmented on the basis of type, environment, component, application and regions. On the basis of type, the service robotics market is segmented into professional and personal/domestic service robots. On the basis of environment, the market is categorized into Aerial, Ground and Marine. Furthermore, the service robotics market is segmented on the basis of components into Hardware and Software. Furthermore, the market is segmented on the basis of applications into Domestic, Medical, Field, Defense, Rescue, and Security, Entertainment, Educational, and Personal, Public Relations, Inspection and Maintenance, Logistics, Construction and Demolition, Marine.

By Type

Professional

Personal/Domestic

By Environment

Aerial

Ground

Marine

By Components

Hardware

Software

By Applications

Domestic

Medical

Field

Defense, Rescue, and Security

Entertainment, Educational, and Personal

Public Relations

Inspection and Maintenance

Logistics

Construction and Demolition

Marine

By Region

North America

Latin America

Africa

Europe

Asia Pacific

Middle East

Service Robotics Market Key Players

The global Service Robotics market is dominated by iRobot, SoftBank Robotics Group, Intuitive Surgical, DeLaval, Daifuku, CYBERDYNE, DJI, Kongsberg Maritime, Northrop Grumman, Neato Robotics, among others.

MMC Overview on Service Robotics Market Report

The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.

A research report on the service robotics market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.

Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.

Factors that are benchmarked while estimating the market

Various factors that are benchmarked while estimating the market growth includes (but not restricted to):

New product designs and launches

Current product compliance

Reimbursement

Concerns for use of service robotics

Advantages of service robotics

Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make informed decisions.

A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.

1.    Global Service Robotics Market Report Overview

1.1.    Introduction

1.2.    Report Description

1.3.    Methodology

2.    Global Service Robotics Market Overview

2.1.    Introduction

2.1.1.    Market Definition

2.1.2.    Market Taxonomy

2.2.    Executive Summary

2.3.    Global Service Robotics Market Snapshot

2.4.    Global Service Robotics Market Size And Forecast, 2020–2028

2.4.1.    Introduction

2.4.2.    Market Value Forecast And Annual Growth Rate (AGR) Comparison (2020–2028)

2.5.    Global Service Robotics Market Dynamics

2.5.1.    Drivers

2.5.2.    Restraints

2.5.3.    Opportunity

2.5.4.    Trends

2.6.    Porter’s Five Forces Model

2.7.    SWOT Analysis

3.    Service Robotics Assessment and Analysis

3.1.    Service Robotics Impact Analysis 

3.2.    Actions to encourage use of Service Robotics

3.3.    Service Robotics Promotional Strategy Recommendation

3.4.    Road Map Analysis

3.5.    GAP Analysis

3.6.    Potential Analysis

4.    Covid-19 Impact on Service Robotics Market

5.    Global Service Robotics Market, By Type

5.1.    Introduction

5.1.1.    Annual Growth Rate Comparison, By Type

5.1.2.    BPS Analysis, By Type

5.2.    Market Revenue (US$Mn) and Forecast, By Type

5.2.1.    Professional

5.2.2.    Domestic/Personal

5.3.    Global Service Robotics Market Attractiveness Index, By Type

6.    Global Service Robotics Market, By Environment

6.1.    Introduction

6.1.1.    Annual Growth Rate Comparison, By Environment

6.1.2.    BPS Analysis, By Environment

6.2.    Market Revenue (US$Mn) and Forecast, By Environment

6.2.1.    Aerial

6.2.2.    Ground

6.2.3.    Marine

6.3.    Global Service Robotics Market Attractiveness Index, By Environment

7.    Global Service Robotics Market, By Component

7.1.    Introduction

7.1.1.    Annual Growth Rate Comparison, By Component

7.1.2.    BPS Analysis, By Component

7.2.    Market Revenue (US$Mn) and Forecast, By Component

7.2.1.    Hardware

7.2.2.    Software

7.3.    Global Service Robotics Market Attractiveness Index, By Component

8.    Global Service Robotics Market, By Application

8.1.    Introduction

8.1.1.    Annual Growth Rate Comparison, By Application

8.1.2.    BPS Analysis, By Application

8.2.    Market Revenue (US$Mn) and Forecast, By Application

8.2.1.    Domestic

8.2.2.    Medical

8.2.3.    Field

8.2.4.    Defence, Rescue, and Security

8.2.5.    Entertainment, Educational, and Personal

8.2.6.    Public Relations

8.2.7.    Inspection and Maintenance

8.2.8.    Logistics

8.2.9.    Construction and Demolition

8.2.10.    Marine

8.3.    Global Service Robotics Market Attractiveness Index, By Application

9.    Global Service Robotics Market, By Region

9.1.    Introduction

9.1.1.    Annual Growth Rate Comparison, By Region

9.1.2.    BPS Analysis, By Region

9.2.    Market Revenue (US$Mn) and Forecast, By Region

9.2.1.    North America

9.2.2.    Latin America

9.2.3.    Europe

9.2.4.    Asia Pacific

9.2.5.    Middle East 

9.2.6.    Africa

9.3.    Global Service Robotics Market Attractiveness Index, By Region

10.    North America Service Robotics Market Analysis and Forecast, 2020–2028

10.1.    Introduction

10.1.1.    Annual Growth Rate Comparison, By Country

10.1.2.    BPS Analysis, By Country

10.2.    Market Revenue (US$Mn) and Forecast, By Country

10.2.1.    U.S. Service Robotics Market

10.2.2.    Canada Service Robotics Market

10.3.    North America Service Robotics Market, By Type

10.3.1.    Residential 

10.3.2.    Commercial 

10.3.3.    Industrial 

10.3.4.    Land

10.4.    North America Service Robotics Market Revenue (US$Mn) and Forecast, By Environment

10.4.1.    Aerial

10.4.2.    Ground

10.4.3.    Marine

10.5.    North America Service Robotics Market Revenue (US$Mn) and Forecast, By Component

10.5.1.    Hardware

10.5.2.    Software

10.6.    North America Service Robotics Market Revenue (US$Mn) and Forecast, By Application

10.6.1.    Domestic

10.6.2.    Medical

10.6.3.    Field

10.6.4.    Defence, Rescue, and Security

10.6.5.    Entertainment, Educational, and Personal

10.6.6.    Public Relations

10.6.7.    Inspection and Maintenance

10.6.8.    Logistics

10.6.9.    Construction and Demolition

10.6.10.    Marine

10.7.    North America Service Robotics Market Attractiveness Index

10.7.1.    By Country

10.7.2.    By Type

10.7.3.    By Environment

10.7.4.    By Component

10.7.5.    By Application

11.    Latin America Service Robotics Market Analysis and Forecast, 2020–2028

11.1.    Introduction

11.1.1.    Annual Growth Rate Comparison, By Country

11.1.2.    BPS Analysis, By Country

11.2.    Market (US$Mn) Forecast, By Country

11.2.1.    Brazil Service Robotics Market

11.2.2.    Mexico Service Robotics Market

11.2.3.    Rest Of Latin America Service Robotics Market

11.3.    Latin America Service Robotics Market, By Type

11.3.1.    Residential 

11.3.2.    Commercial 

11.3.3.    Industrial 

11.3.4.    Land

11.4.    Latin America Service Robotics Market Revenue (US$Mn) and Forecast, By Environment

11.4.1.    Aerial

11.4.2.    Ground

11.4.3.    Marine

11.5.    Latin America Service Robotics Market Revenue (US$Mn) and Forecast, By Component

11.5.1.    Hardware

11.5.2.    Software

11.6.    Latin America Service Robotics Market Revenue (US$Mn) and Forecast, By Application

11.6.1.    Domestic

11.6.2.    Medical

11.6.3.    Field

11.6.4.    Defence, Rescue, and Security

11.6.5.    Entertainment, Educational, and Personal

11.6.6.    Public Relations

11.6.7.    Inspection and Maintenance

11.6.8.    Logistics

11.6.9.    Construction and Demolition

11.6.10.    Marine

11.7.    Latin America Service Robotics Market Attractiveness Index

11.7.1.    By Country

11.7.2.    By Type

11.7.3.    By Environment

11.7.4.    By Component

11.7.5.    By Application

12.    Europe Service Robotics Market Analysis and Forecast, 2020–2028

12.1.    Introduction

12.1.1.    Annual Growth Rate Comparison, By Country

12.1.2.    BPS Analysis, By Country

12.2.    Market (US$Mn) Forecast, By Country

12.2.1.    U.K. Service Robotics Market

12.2.2.    Germany Service Robotics Market

12.2.3.    Italy Service Robotics Market

12.2.4.    France Service Robotics Market

12.2.5.    Spain Service Robotics Market

12.2.6.    Russia Service Robotics Market

12.2.7.    Rest Of Europe Service Robotics Market

12.3.    Europe Service Robotics Market, By Type

12.3.1.    Residential 

12.3.2.    Commercial 

12.3.3.    Industrial 

12.3.4.    Land

12.4.    Europe Service Robotics Market Revenue (US$Mn) and Forecast, By Environment

12.4.1.    Aerial

12.4.2.    Ground

12.4.3.    Marine

12.5.    Europe Service Robotics Market Revenue (US$Mn) and Forecast, By Component

12.5.1.    Hardware

12.5.2.    Software

12.6.    Europe Service Robotics Market Revenue (US$Mn) and Forecast, By Application

12.6.1.    Domestic

12.6.2.    Medical

12.6.3.    Field

12.6.4.    Defence, Rescue, and Security

12.6.5.    Entertainment, Educational, and Personal

12.6.6.    Public Relations

12.6.7.    Inspection and Maintenance

12.6.8.    Logistics

12.6.9.    Construction and Demolition

12.6.10.    Marine

12.7.    Europe Service Robotics Market Attractiveness Index

12.7.1.    By Country

12.7.2.    By Type

12.7.3.    By Environment

12.7.4.    By Component

12.7.5.    By Application

13.    Asia Pacific Service Robotics Market Analysis and Forecast, 2020–2028

13.1.    Introduction

13.1.1.    Annual Growth Rate Comparison, By Country

13.1.2.    BPS Analysis, By Country

13.2.    Market (US$Mn) Forecast, By Country

13.2.1.    China Service Robotics Market

13.2.2.    India Service Robotics Market

13.2.3.    Japan Service Robotics Market

13.2.4.    Australia and New Zealand Service Robotics Market

13.2.5.    South Korea Service Robotics Market

13.2.6.    Rest of Asia Pacific Service Robotics Market

13.3.    Asia Pacific Service Robotics Market, By Type

13.3.1.    Residential 

13.3.2.    Commercial 

13.3.3.    Industrial 

13.3.4.    Land

13.4.    Asia Pacific Service Robotics Market Revenue (US$Mn) and Forecast, By Environment

13.4.1.    Aerial

13.4.2.    Ground

13.4.3.    Marine

13.5.    Asia Pacific Service Robotics Market Revenue (US$Mn) and Forecast, By Component

13.5.1.    Hardware

13.5.2.    Software

13.6.    Asia Pacific Service Robotics Market Revenue (US$Mn) and Forecast, By Application

13.6.1.    Domestic

13.6.2.    Medical

13.6.3.    Field

13.6.4.    Defence, Rescue, and Security

13.6.5.    Entertainment, Educational, and Personal

13.6.6.    Public Relations

13.6.7.    Inspection and Maintenance

13.6.8.    Logistics

13.6.9.    Construction and Demolition

13.6.10.    Marine

13.7.    Asia Pacific Service Robotics Market Attractiveness Index

13.7.1.    By Country

13.7.2.    By Type

13.7.3.    By Environment

13.7.4.    By Component

13.7.5.    By Application

14.    Middle East Service Robotics Market Analysis and Forecast, 2020–2028

14.1.    Introduction

14.1.1.    Annual Growth Rate Comparison, By Country

14.1.2.    BPS Analysis, By Country

14.2.    Market (US$Mn) Forecast, By Country

14.2.1.    GCC Countries Service Robotics Market

14.2.2.    Israel Service Robotics Market

14.2.3.    Rest Of Middle East Service Robotics Market

14.3.    Middle East Service Robotics Market, By Type

14.3.1.    Residential 

14.3.2.    Commercial 

14.3.3.    Industrial 

14.3.4.    Land

14.4.    Middle East Service Robotics Market Revenue (US$Mn) and Forecast, By Environment

14.4.1.    Aerial

14.4.2.    Ground

14.4.3.    Marine

14.5.    Middle East Service Robotics Market Revenue (US$Mn) and Forecast, By Component

14.5.1.    Hardware

14.5.2.    Software

14.6.    Middle East Service Robotics Market Revenue (US$Mn) and Forecast, By Application

14.6.1.    Domestic

14.6.2.    Medical

14.6.3.    Field

14.6.4.    Defence, Rescue, and Security

14.6.5.    Entertainment, Educational, and Personal

14.6.6.    Public Relations

14.6.7.    Inspection and Maintenance

14.6.8.    Logistics

14.6.9.    Construction and Demolition

14.6.10.    Marine

14.7.    Middle East Service Robotics Market Attractiveness Index

14.7.1.    By Country

14.7.2.    By Type

14.7.3.    By Environment

14.7.4.    By Component

14.7.5.    By Application

15.    Africa Service Robotics Market Analysis and Forecast, 2020–2028

15.1.    Introduction

15.1.1.    Annual Growth Rate Comparison, By Country

15.1.2.    BPS Analysis, By Country

15.2.    Market (US$Mn) Forecast, By Country

15.2.1.    South Africa Countries Service Robotics Market

15.2.2.    Egypt Service Robotics Market

15.2.3.    North Africa Service Robotics Market

15.2.4.    Rest of Africa Service Robotics Market

15.3.    Africa Service Robotics Market, By Type

15.3.1.    Residential 

15.3.2.    Commercial 

15.3.3.    Industrial 

15.3.4.    Land

15.4.    Africa Service Robotics Market Revenue (US$Mn) and Forecast, By Environment

15.4.1.    Aerial

15.4.2.    Ground

15.4.3.    Marine

15.5.    Africa Service Robotics Market Revenue (US$Mn) and Forecast, By Component

15.5.1.    Hardware

15.5.2.    Software

15.6.    Africa Service Robotics Market Revenue (US$Mn) and Forecast, By Application

15.6.1.    Domestic

15.6.2.    Medical

15.6.3.    Field

15.6.4.    Defence, Rescue, and Security

15.6.5.    Entertainment, Educational, and Personal

15.6.6.    Public Relations

15.6.7.    Inspection and Maintenance

15.6.8.    Logistics

15.6.9.    Construction and Demolition

15.6.10.    Marine

15.7.    Africa Service Robotics Market Attractiveness Index

15.7.1.    By Country

15.7.2.    By Type

15.7.3.    By Environment

15.7.4.    By Component

15.7.5.    By Application

16.    Competitive Landscape

16.1.    Company Profiles

16.1.1.    iRobot

16.1.1.1.    Company Overview

16.1.1.2.    Financial Overview

16.1.1.3.    Key Developments

16.1.1.4.    Strategies

16.1.1.5.    Product Analysis

16.1.2.    SoftBank Robotics Group

16.1.3.    Intuitive Surgical

16.1.4.    DeLaval

16.1.5.    Daifuku

16.1.6.    CYBERDYNE

16.1.7.    DJI

16.1.8.    Kongsberg Maritime

16.1.9.    Northrop Grumman

16.1.10.    Neato Robotics

17.    Acronyms