Global Service Robotics Market - Expected to Grow from USD 6.97 Billion in 2014 to USD 18.02 Billion by 2020

Dec 10, 2015, 11:10 ET from Research and Markets

DUBLIN, Dec. 10, 2015 /PRNewswire/ -- Research and Markets ( has announced the addition of the "Service Robotics Market - Analysis & Forecast to 2020" report to their offering.

The global service robotics market is in the exponential growth phase. It is expected to grow from USD 6.97 Billion in 2014 to USD 18.02 Billion by 2020 at a CAGR of 17.36% between 2015 and 2020.

The market is driven by factors such as ageing population, increasing grants and funds by governments, increasing venture capital investments in service robotics companies, enhancements in complementary technologies and integration of robotics with mobile technologies, and other smart products and appliances.

The service robotics market was led by the North American region in 2014. North America, especially the U.S., is expected to have tremendous growth potential for service robotics in medical, defense, and agriculture during the forecast period. This is because of the focus on the automation of the U.S. defense and security operations, a market which would drive the growth of the market.

The service robotics market is pooled with a large number of small and big players. New product development is the key strategy adopted by leading players in the market to expand their businesses. The factors restraining the growth of this market are security and privacy concerns, concerns regarding the working of robots in the actual conditions, and high initial costs.

Companies Mentioned

  • Adept Technology, Inc.
  • Aethon Inc.
  • Amazon.Com, Inc.
  • Bluefin Robotics Corporation
  • Delaval Group
  • Dji
  • ECA Group
  • Geckosystems Intl. Corp.
  • Google, Inc.
  • Honda Motor Co., Ltd.
  • Intuitive Surgical, Inc.
  • Irobot Corporation
  • Kongsberg Maritime
  • Kuka AG
  • Lely Group
  • Northrop Grumman Corporation
  • Yaskawa Electric Corporation

Report Structure:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Service Robotics Market, By Application

8 Service Robotics Market, By Type

9 Service Robotics Market, By Component

10 Service Robotics Market, By Geography

11 Competitive Landscape

12 Company Profiles

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SOURCE Research and Markets