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Service Robotics - Global Market Trajectory & Analytics

  • ID: 1382372
  • Report
  • January 2021
  • Region: Global
  • 336 Pages
  • Global Industry Analysts, Inc
Growing Clout of Tertiary Sector Throws Spotlight on Service Robots
The global Service Robotics market is projected to reach US$ 18.2 billion by 2024, driven by the rapid growth of service industries worldwide and the pressing need to competitively adapt to changing customer demands, technology, competition and market challenges. After the role played by industrial robots in carrying out repetitive tasks, new developments in machine learning, cognitive science, artificial intelligence and adaptive computing are enabling robots to assist and support humans. Development of technologically advanced robots with improved intelligence and better ability to perform touch-sensitive tasks and interact with humans will aid in the commercialization of personal mobility assist robots, healthcare robots, robot companions/assistants, telepresence robots, social robots, among others. The United States represents the largest market worldwide. Asia-Pacific is forecast to grow at the fastest CAGR of 20% over the analysis period led by robustly growing investments in robotics technology as a result of the pressure to enhance productivity, reduce costs, and battle growing global competition in the services sector. The region's strong growth will be spearheaded by the escalating demand for service robots in household, defense, security and rescue, and medical applications.

Select Competitors (Total 183 Featured):
  • Aethon, Inc.
  • Gecko International Corporation
  • Hanool Robotics Corp.
  • Honda Motors Co., Ltd.
  • Husqvarna AB
  • Iberobotics S.L.
  • Intuitive Surgical, Inc.
  • iRobot Corporation
  • KUKA Aktiengesellschaft
  • LG Electronics, Inc.
  • RedZone Robotics
  • RoboBuilder Co., Ltd.
  • ROBOSOFT
  • SeaRobotics Corporation
  • Samsung Electronics Co., Ltd.
  • Toyota Motor Corporation
  • Yujin Robot Co., Ltd.
  • WowWee Group Limited
  • Zucchetti Group
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Impact of Covid-19 and a Looming Global Recession
  • EXHIBIT 1: World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
  • Service Robots Garner Attention as Critical Resource to Combat COVID-19 Pandemic
  • Emphasis on Social Distancing and Cleanliness Throws Attention on Service Robots
  • Reported Use of Service Robots for COVID-19
  • Significance of Robots in Combating the Pandemic Attracts Government Investments
  • Hotels Embrace Service Robots to Cope Up with Socially-Distanced Approach to Life
  • EXHIBIT 2: Service Robots to Aid Revival of Hospitality Industry: YoY % Change in Hotel RevPAR in Europe amid COVID-19: March 2020 to May 2020
  • Robots: The Marvels of Modern Engineering
  • Service Robotics: The New Emerging Frontier
  • Types of Service Robots
  • Personal Robots
  • EXHIBIT 3: Global Personal Service Robotics Market Share Breakdown of Volume Sales by Application Segment: 2019
  • Professional Service Robot
  • EXHIBIT 4: Global Professional Service Robotics Market Share Breakdown of Volume Sales by Application Segment: 2019
  • Market Outlook
  • Developing Countries to Spur Future Market Growth
  • Compelling Benefits & Technological Advances Set Perfect Background for Expansion of Global Professional Service Robots Market
  • Challenges Confronting Service Robotics Market
  • Competitive Landscape
  • EXHIBIT 5: Service Robotics Manufacturing Landscape (2019): Percentage Breakdown of Number of Service Robotic Manufacturers by Geographic Region
  • Funding in Robotics Companies Continues to Grow
  • EXHIBIT 6: Number of Startups by Region: 2019
  • Select Startups in Service Robotics
  • EXHIBIT 7: Robotics Investments in June 2020
  • Recent Industry Activity
  • World Brands
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Artificial Intelligence Brings in a Transformation in Service Robotics
  • Collaborative Robots to Drive Growth in the Non-Industrial Robots Market
  • Robotics-As-A-Service (RaaS) Garners Attention
  • Innovative RaaS Platforms
  • Manufacturers Focus on Service Robots with Impressive Computing Power
  • Approaches to Overcome Technological Challenges
  • Medical Applications: An Expanding Market for Professional Service Robotics
  • EXHIBIT 8: Professional Service Robots in Medical Applications (2019): Percentage Breakdown of Unit Sales by Application
  • EXHIBIT 9: Usage Benefits of Service Robots in Surgical Procedures: A Comparative Study of Mean Blood Loss (ml) and Period of Hospital Stay in Robotic Vs Traditional Procedures by Surgery Type - Hysterectomy and Prostatectomy
  • Service Robots in Surgeries
  • Service Robots Aid in Patient Rehabilitation
  • Defense Applications: A Key Market for Professional Service Robots
  • Exoskeleton Robots Set to Register Strong Growth
  • Government Spending on Military & Defense: A Determinant of Growth in Defense Robots Market
  • Impact COVID-19 on Defense Spending
  • EXHIBIT 10: Global Defense, Health & Energy R&D as a % of GDP
  • EXHIBIT 11: Global Defense Spending (In US$ Billion) for Years 2016, 2017, 2018, 2019, 2020 & 2023
  • Field Applications Drive Growth in Professional Service Robotics Market
  • EXHIBIT 12: Global Field Robots Market (2019): Percentage Breakdown of Unit Sales for Milking Robots and Others
  • Milking Systems with Advanced Features to Improve Adoption Rate
  • Positive Outlook for Dairy Industry Augurs Well for Robotic Milking Systems
  • EXHIBIT 13: Global Dairy Products Market in US$ Billion: 2019 & 2025
  • Developments in AI, Machine Vision & Machine Learning Remain Critical to Commercialization & Growth
  • Rising Penetration of Robotics in Agricultural Sector Bodes Well
  • Worsening Labor Shortages & Rising Labor Costs Drives Interest in Autonomous/Robotic Tractors
  • EXHIBIT 14: Contracting Agricultural Labor Drives Demand for Robots and Autonomous Farm Equipment: Agricultural Employment as % of Total Employment for the Period 2000-2020
  • Automated & Robotic Equipment to Foray into Food Service Sector
  • Robot Chefs - Revolutionizing Restaurant Operations
  • Contact-less Machines and Robots Address the Shifting Consumer Mindset
  • Logistics Application Segment to Catalyze Growth of Professional Service Robots Market
  • Package Delivery Gains Significance amid Rise in e-commerce
  • EXHIBIT 15: Global e-Commerce Sales as Percentage of Total Retail Sales (2015-2021E)
  • Humanoid Robots for Personalized & Interactive Experience in Banks
  • Robotics in Hospitality Industry: Promising Future Ahead
  • Personal Robots Garner Momentum
  • Expanding Application Possibilities Broadens the Market
  • Advanced Service Robots for Homeowners
  • Aging Population Lends Traction to Eldercare-Assistive Robots
  • EXHIBIT 16: Aging Population to Fuel Need for Care Robots - Population of 60+ Individuals in ‘000s for 2019, 2030, 2050, & 2100
  • Home-Help Robots for Retirees: The Next Frontier of Robotic Advancements
  • Handicap Assistance Robots: A Key Opportunity
  • Sales of Mobile Robots on the Rise
  • Robotic Vacuum Cleaners Market for Home Use: Promising Growth Opportunities
  • EXHIBIT 17: Global Vacuum Cleaners Market (2012 & 2022): Percentage Breakdown of Value sales for Robotic Vacuum Cleaners and Traditional Vacuum Cleaners
  • Telepresence to Revolutionize Service Robots Industry
  • Customizable & Networked Robots: Emerging Revenue Spinners
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
  • UNITED STATES
  • Market Overview
  • Market Analytics
  • CANADA
  • JAPAN
  • Market Overview
  • Market Analytics
  • CHINA
  • Market Overview
  • Food Service Robots Continue to Gain Popularity
  • Robots for Learning & Cleaning Gain Interest
  • Household Cleaning Robots Find Favor among Chinese Consumers
  • Medical Robotics Sector: A Promising Market
  • Market Analytics
  • EUROPE
  • Market Overview
  • Market Analytics
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • SOUTH KOREA
  • Market Overview
  • Market Analytics
  • REST OF ASIA-PACIFIC
  • India
  • Market Analytics
  • LATIN AMERICA
  • REST OF WORLD
IV. COMPETITION
  • Total Companies Profiled: 330
Note: Product cover images may vary from those shown
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