The service robot market is expected to grow from $37 billion in 2020 to $102.5 billion in 2025. It is expected to grow at a CAGR of 22% from 2020 to 2025. The adoption of service robots provides high ROI for commercial users primarily due to reduced labor costs. This is one of the main drivers of adoption. At the same time, funding for robotics research by the government and key market players has increased dramatically.
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Key Market Players
Major companies in the service robotics market are iRobot (US), SoftBank Robotics Group (Japan), Intuitive Surgical (US), DeLaval (Sweden), Daifuku (Japan), CYBERDYNE (Japan), DJI (China), Kongsberg Maritime (Norway), Northrop Grumman (US), Neato Robotics (US). Apart from these, ecoRobotix (Switzerland) and Starship Technologies (US) are among a few emerging companies in the market.
Service Robotics Market Segmentation
- Personal & Domestic
- Aerial (Commercial Drones and Consumer Drones)
- Ground (Automated Guided Vehicles (AGVs), Cleaning Robots, Agricultural Robots, Surgical Robots, Entertainment and Leisure Robots, Inspection Robots, Humanoid Robots, Powered Exoskeletons, Telepresence Robots, and Others)
- Marine (Remotely Operated Vehicles (ROVs), Unmanned Surface Vehicles (USVs) and Autonomous Underwater Vehicles (AUVs))
- Hardware (Airframes, Sensors, Caneras, Actuators, Power Supply, Control Systems, Navigation Systems, Propulsion Systems, and Others)
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o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Service Robotics Market Report
- What was the Service Robotics Market in 2020 and 2021; what are the estimated growth trends and market forecast (2021-2027).
- What will be the CAGR of Service Robotics Market during the forecast period (2021-2027)?
- Which segments (product type/applications/end-user) were most attractive for investments in 2018? How are these segments are expected to grow during the forecast period (2021-2027)?
- Which manufacturer/vendor/players in the Service Robotics Market was the market leader in 2018?
- Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
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