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$Mn) and Forecast, By Application
15.6.1. Domestic
15.6.2. Medical
15.6.3. Field
15.6.4. Defence, Rescue, and Security
15.6.5. Entertainment, Educational, and Personal
15.6.6. Public Relations
15.6.7. Inspection and Maintenance
15.6.8. Logistics
15.6.9. Construction and Demolition
15.6.10. Marine
15.7. Africa Service Robotics Market Attractiveness Index
15.7.1. By Country
15.7.2. By Type
15.7.3. By Environment
15.7.4. By Component
15.7.5. By Application
16. Competitive Landscape
16.1. Company Profiles
16.1.1. iRobot
16.1.1.1. Company Overview
16.1.1.2. Financial Overview
16.1.1.3. Key Developments
16.1.1.4. Strategies
16.1.1.5. Product Analysis
16.1.2. SoftBank Robotics Group
16.1.3. Intuitive Surgical
16.1.4. DeLaval
16.1.5. Daifuku
16.1.6. CYBERDYNE
16.1.7. DJI
16.1.8. Kongsberg Maritime
16.1.9. Northrop Grumman
16.1.10. Neato Robotics
17. Acronyms
Frequently Asked Questions
What is the projected market size & Compound Annual Growth Rate (CAGR) of the market?
The service robotics market size was valued at US$ 35.4 Bn in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 27.4% from 2020 to 2028
What are the key factors driving the growth of market?
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 are the key factors driving the growth of market
What segments are covered in market report?
The global service robotics market is segmented on the basis of type, environment, component, application and regions
What are the key participating players in the market?
iRobot, SoftBank Robotics Group, Intuitive Surgical, DeLaval, Daifuku, CYBERDYNE, DJI, Kongsberg Maritime, Northrop Grumman, Neato Robotics, among others are the key participating players in the market
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