Research Nester’s recent market research analysis on “Service Robotics Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global service robotics market in terms of market segmentation by component, robots, and by region.
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Growing Applications of Robotics in various Industries to Promote Global Market Share of Service Robotics Market
The global service robotics market is anticipated to garner remarkable growth in the coming duration on the back of the rising application of robots in numerous industries. The growing adoption of robotics in automotive, agriculture, healthcare, food & beverages industries is fueling the market growth. It has been estimated that sales of professional service robots have grown to almost 37.1% in the year 2021. Other than this, there are already 1 service robots for almost 1500 restaurants. It has been estimated that between 30%-70% of labor costs can be saved with the help of robotics. Hence, the growing advantages of service robots over human is projected to fuel the market growth.
Some of the major growth factors and challenges that are associated with the growth of the global service robotics market are:
Growth Drivers:
• Availability of Affordable Service Robots to Foster Market Growth
• Increasing Expenditure Made by Government Organizations
Challenges:
The rising concern for cyber security, high investment for maintenance, and lack of awareness are some of the major factors anticipated to hamper the global market size of the service robotics market.
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By robots, the global service robotics market is segmented into professional, personal household, and entertainment. Out of which, the professional segment is poised to accumulate the maximum market share. Moreover, almost 90% of robots are utilized in manufacturing and factory facilities. In the year 2020, the professional service robots are anticipated to be around 12,100 units globally.
By region, the Europe global service robotics market is to generate the highest revenue by the end of 2036. In 2023, the service robotics market in Europe generated almost USD 9.1 billion. The steady growth reflects the rapid adoption and integration of robotics technology across various industries in Europe.
This report also provides the existing competitive scenario of some of the key players of the global service robotics market which includes company profiling of iRobot Corporation, Boston Dynamics, KUKA AG, Intuitive Surgical Operation, Inc., Zebra Technologies Corporation, ABB, Stryker Corporation, GeckoSystems Intl. Corp., Kongsberg Gruppen ASA, Parrot Drone SAS and others.
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