Global Service Robotics Market size was valued US$ XX Bn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2027, reaching US$ XX Bn.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Robots are now being increasingly adopted for service applications, both by consumers and professionals. The service robot market includes different types of robots, most of which can be used for applications in many industries. At a consumer level service robots are commonly used for deadly & repetitive tasks like domestic chores, or for leisure & entertainment purposes. At a professional level, service robotics often represents an investment which has potential to significantly increase efficiency & reduce costs by replacing traditional methods. Industries that will experience changing dynamics owing to the appearance of service robots include agriculture, construction, medical, logistics, hospitality, entertainment and domestic consumer goods.
Robotics in professional applications have significant effect in areas like agriculture, surgery, and logistics and is increasing in economic importance. There is rising demand to monitor everyday surroundings which results in difficult-to-manage workloads and data flows. To meet these demands, robots will play an important role in the maintenance, security. Robotics in personal & home applications has experienced strong global growth with a limited number of mass market products: floor cleaning robots, & robots for edutainment. Future product visions point to domestic robots of higher sophistication, capability & value like assistive robots.
The total number of professional service robots sold in 2017 rose by 85% to 109,543 units up from 59,269 in 2016. The sales value increased by 39% to US$ 6.6bn. The reason for this rather low increase rate is the considerable decrease of high valued defence robots.
The total number of service robots for personal and domestic use increased by 25% to about 8.5 million units in 2017. The value was up by 27% to US$ 2.1bn. In 2017, it is projected that nearly 6.1 million robots for domestic tasks, including vacuum cleaning, lawn-mowing, window cleaning & other types, were sold, an impressive 31% more than in 2016. The value was about US$ 1.6bn. Compared to 2016, this represents an increase of 30%.
There are small & mid-sized Corporations across the United States, Japan, Korea, china, which are expected to adopt explicit efforts to increase their service robot market share. These efforts include high investment in R&D, M&A and advance marketing strategy. Of great importance to this market is the collaboration & coordination that is being observed within the industry. And the government, which is eventually increasing the service robot market demand. For instance in Sep 2019, student from India initiated development of robots that can help society during critical occurrence like house fire.
Geographically, the Service Robotics Market is segmented by Europe, Asia Pacific, North America, Latin America, and Middle East & Africa. European service robot manufacturers play significant role in the global service robotics market. About 290 out of the 700 listed companies supplying service robots come from Europe. North America positions second with about 240 manufacturers & Asia-Pacific third with 130. Further development will depend on entrepreneur’s actions which they are taking for new applications. In U.S, about 200 start-up firms are working on new service robots. The European Union & Switzerland count 170 corporations which are creating a new entrepreneurial culture for the service robotics industry followed by Asia-Pacific with 135 start-up corporations. Virtually all economies are trying to raise energetic entrepreneurial environment.
The objective of the report is to present a comprehensive analysis of the Global Service Robotics Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Service Robotics Market dynamics, structure by analyzing the market segments and project the Global Service Robotics Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Service Robotics Market make the report investor’s guide.
The Scope of Global Service Robotics Market
Global Service Robotics Market, by Type:
Global Service Robotics Market, by Application:
• Construction and Demolition
• Transportation & Logistics
• Agriculture & Forestry
Global Service Robotics Market, By Region
• North America
• Asia Pacific
• MEA & Africa
• Latin America
Global Service Robotics Market, Key Players:
• Softbank Robotics Group
• Intuitive Surgical
• Kongsberg Maritime
• Northrop Grumman
• Neato Robotic
• ECA Group
• Harvest Croo
• Starship Technologies
• Parrot Drones Sas
• General Electric
• Amazon Robotics
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