Global Service Robotics Market Report 2023-2027: High Labour Costs Continue to Drive Adoption

DUBLIN, May 26, 2023 /PRNewswire/ -- The "Global Service Robotics Market and Volume by Type (Professional Service Robots, Personal and Domestic Service Robots), Service Robot Manufacturers / Suppliers Analysis, Key Players Robotics Division Sales and Recent Developments - Forecast to 2027" report has been added to  ResearchAndMarkets.com's offering.

The global service robotics market is expected to reach nearly US$ 50 Billion by 2027.

The service robotics market is driven by an upsurge in its adoption owing to high labor cost, lack of skilled workforce, increasing research and development investments, growing awareness regarding the benefits of service robots, and increased demand for automation among professional and personal sectors. The high initial investment and concern for human safety restricts the growth of the market.

Recent Developments

• In August 2022, Amazon.com, Inc. (US) and iRobot Corporation announced a definitive merger agreement under which Amazon will acquire iRobot Corporation under its expansion plan.
• In July 2022, Hibot Corp. used its Float Arm robot to inspect pipelines that were difficult to access and unsafe for workers at the Mitsui Chemical plant in Japan.
• In June 2022, Intuitive Surgical and Siemens collaborated to integrate a mobile cone-beam CT (CBCT) imaging technology and the lon Endoluminal System used for robot-assisted bronchoscopy.

By Segment Professional Service Robotics Market and Volume Forecast - Key Takeaway

• In 2022, medical applications accounted for maximum share of the global professional service robotics market, followed by logistic segment. Together, the medical and logistic applications accounted for over 75% share of the global professional service market.
• The use of service robots in logistic industry is anticipated to show substantial growth. The growing e-commerce industry is the primary growth driver for this market.
• The implementation of robotics in agriculture is expected to bring out transformational result in coming years.
• In volume terms, the logistic robots accounted for maximum share of the overall professional service robotics volume, while the public relation robots form the second largest category of professional service robots by unit sales.
• By Segment Personal and Domestic Service Robotics Market and Volume Forecast - Key Takeaway
• Household robots accounts for maximum share of the personal and domestic service robotics market both in value and volume terms. This segment is likely to lead the personal and domestic service robotics market throughout the forecast period.
• Entertainment and leisure robots are aimed at youth in the hopes of boosting their interest in robotics and other technical fields.

Global Service Robot Manufacturers/Suppliers Analysis - Key Takeaway

• The United States is home of most service robot manufacturers, followed by China, Germany, Japan, France, and Russia.
• In the consumer robot application, most of the service robot suppliers are based in the Asian region, being followed by Europe.
• Around, 80% of service robot supplier are small-medium sized enterprises.

The report titled "Global Service Robotics Market and Volume by Type (Professional Service Robots, Personal and Domestic Service Robots), Service Robot Manufacturers/Suppliers Analysis, Key Players Robotics Division Sales and Recent Developments - Forecast to 2027" provides a comprehensive assessment of the fast-evolving, high-growth Service Robotics Market.

This 205 Page report with 97 Figures and 14 Tables has been analyzed from 9 viewpoints:

1. Global Service Robotics Market and Forecast (2012 - 2027)
2. Global Service Robotics Volume and Forecast (2012 - 2027)
3. Global Service Robotics Market & Volume Share and Forecast (2012 - 2027)
4. Global Professional Service Robotics Market and Volume Forecast - By Segment (2012 - 2027)
5. Global Personal and Domestic Service Robotics Market and Volume Forecast - By Segment (2012 - 2027)
6. Global Service Robot Manufacturers/Suppliers Analysis
7. Key Players - Robotics Division Sales and SWOT Analysis (2010 - 2027)
8. Global Robotics Market - Recent Developments
9. Global Robotics Market - Growth Drivers and Challenges

Global Service Robotics Market and Volume Forecast - By Type

1. Professional Service Robotics
2. Personal and Domestic Service Robotics

Global Professional Service Robotics Market and Volume Forecast - By Segment

1. Defence
2. Agriculture/Field
3. Logistic
4. Medical
5. Exoskeletons
6. Public Relations Robots
7. Construction
8. Mobile Platforms
9. Inspection and Maintenance
10. Underwater
11. Rescue and Security
12. Cleaning
13. Others

Global Personal and Domestic Service Robotics Market and Volume Forecast - By Segment

1. Household Robotics
2. Entertainment and Leisure Robotics

Global Robotics Market - Key Players Robotics Division Sales and SWOT Analysis

1. KUKA AG
2. Adept Technology (Acquired by OMRON)
3. iRobot Corporation
4. Intuitive Surgical
5. Nachi-Fujikoshi
6. Yaskawa Electric Corporation
7. ABB
8. FANUC Corporation
9. DAIHEN Corporation
10. Mitsubishi Electric Corporation
11. DENSO Corporation
12. Seiko Epson Corporation

For more information about this report visit https://www.researchandmarkets.com/r/mixrof

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