Service Robotics Market worth 23.90 Billion USD by 2022
Service Robotics Market by Operating Environment (Aerial, Ground, Marine) - 2022| MarketsandMarkets
United States, 12 September 2018 -- [170 Pages Report] Service Robotics Market research report categorizes global market by Operating Environment (Aerial, Ground, Marine), Application (Professional, Personal), and Geography (North America, Europe, Asia-Pacific, and Row) & Geography.
According to the market research report "Service Robotics Market by Operating Environment (Aerial, Ground, Marine), Application (Professional, Personal), and Geography (North America, Europe, Asia-Pacific, and Row) - Global Forecast to 2022", the service robotics market is expected to reach USD 23.90 Billion by 2022, at a CAGR of 15.18% between 2016 and 2022.
Browse 66 market data tables and 58 figures spread through 170 pages and in-depth TOC on “Service Robotics Market”.
Early buyers will receive 10% customization on this report.
The growth in service robotics market is expected to be driven by rising demand for mobile-robotic solution across warehouse automation and logistics, and high demand from medical and healthcare sectors, and increasing usage of service robotics in education and research institutes. The short- to medium-term payback period supported by higher RoI is another factor leading to the growth of service robotics market in the near future.
The market for ground-based service robots expected to grow at the highest rate during the forecast period
The market for ground-based service robotics systems is expected to grow at the highest rate during the forecast period. Growing usage of AGVs and other service robots for automating the warehouses across the globe is key driving factor for the said market. The estimated increase in the demand for personal service robots, apart from the increase in demand for logistics and telepresence robots, is another key factor likely to drive the market for ground-based service robots.
Professional service robots held the largest market share of the service robotics market in 2015
Professional service robotics is currently most widely developed and deployed application area of service robots in terms of market value. The market is expected to be driven by the increase in demand for logistics applications. However, other emerging professional applications such as telepresence and inspection and maintenance are expected to fuel the overall service robotics market during the forecast period.
Europe held the largest market share in 2015
Europe held the largest market in 2015, followed by North America and Asia-Pacific for service robots. The growth in the European market was driven by the demand for service robots in defense, domestic robots, and education and research and hobbyist sectors. Additionally, the marine, milking robots, and logistics robots are further expected to add to the growth of market in Europe region. The U.K. held the largest share of the European service robotics market owing to significant adoption rate among elderly healthcare and the personal assistance robots. The costs of manufacturing robotics components are also decreasing steadily because of the increasing technological breakthroughs.
Major players in this market include Northrop Grumman Corporation (U.S.), KUKA AG (Germany), iRobot Corporation (U.S.), Kongsberg Maritime AS (Norway), DJI (China), Intuitive Surgical, Inc. (U.S.), Parrot SA (France), GeckoSystems Intl. Corp. (U.S.), Honda Motor Co. Ltd. (Japan), Adept Technology, Inc. (U.S.), Bluefin Robotics- now wholly owned subsidiary of General Dynamics Mission Systems, Inc. (U.S.), ECA Group (France), Aethon Inc. (U.S.), DeLaval International AB (Sweden), and Lely Holding S.a.r.l. (Netherlands).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
Hello journalist, welcome to Scoopasia--a powerful online resource for media information in Asia. Scoopasia has press releases and media events for every beat and industry. All content on Scoopasia is 100% FREE. You don't even need to login!
Scoop Line (Instant Information Request) The easiest way to ask questions and request information from the PR community.
Advanced Search Drill down, dig deep, for media information the way you want it.