Service Robotics Market Worth $143.78 Billion, Globally, by 2027 at 21.9% CAGR: Verified Market Research

JERSEY CITY, New Jersey, June 17, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Service Robotics Market by Application (Medical, Field, Defense, Rescue, & Security, Entertainment, Educational & Personal), by Component (Hardware, Software), by Type (Professional, Personal), by Environment (Aerial, Ground, Marine)". According to the report, Global Service Robotics Market was valued at USD 29.44 Billion in 2019 and is projected to reach USD 143.78 Billion by 2027, growing at a CAGR of 21.9% from 2020 to 2027.

This report provides detailed analysis of the growth trends among each of the segments as well as accurate forecasts in terms of the value and volume.

Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample/?rid=4745

Browse in-depth TOC on "Service Robotics Market"

212- Pages
176 – Tables
41 – Figures

Global Service Robotics Market Overview

The Internet of Things (IoT) in service robotics for cost-effective maintenance is a substantial aspect of the increase in market growth.  Using IoT in robotic mechanization provides more ways to enhance conservation, optimization, productivity, and the lifespan of the robots. It makes the workforce and operating services easier for engineers and software operators everywhere. The Brain-IoT Kit Approach enables the service robotics set-up, which shows how the toolchain and market place developed by the kit can be used to handle the cooperation of different robots. The use of the BRAIN-IoT toolkit will permit to minimize the growth of new ad-hoc software components, where convenient, the solution will be based on open-source components and the services already being programmed in other IoT platforms. The need to obtain insurance coverage for medical exoskeletons and robotic surgeries is projected to drive market growth. The ReWalk Robotics had issued a press release which states that the global health service company Cigna had reviewed its policy on medical exoskeleton coverage for people with spinal cord injury. This is the first policy reconsideration of its kind from a major U.S. insurer. The funding and investments taking place for service robotics are anticipated to increase market growth. The Service Robotics, located in Bristol, showcased a novel solution for the elderly population, recently.  The Genie Connect syndicates a companion robot called Genie with a 24×7 video Care Centre and specific software for person-positioned engagement. The funds from the current campaign will permit the Service Robotics team to employ a pilot project in the UK, with up to 150 robots being issued to pre-qualified trials.

The swarm intelligence technology, which allows robots to perform multitasking with ease, is the game-changer, which will improve the market economy. A swarm integrates the power of many minds (multitasking) into one, which allows the robotic system to be smart and creative. The applicability of the swarm robotics is the Kilobots swarm developed for research and education. Kilobots are small, with a diameter of 33 mm. The movement is based on vibrating motors, and the communication is executed using infrared light reflecting off the ground. These robots for self-assembling capacity, forming different shapes with a swarm of 1,024 Kilobots. For outer space, NASA developed Swarmies foe collecting samples from Mars. The major players in the market are Irobot, Softbank Robotics Group, Intuitive Surgical, Delaval, Daifuku, Cyberdyne, DJI, Kongsberg Maritime, Northrop Grumman, Neato Robotics.

Verified Market Research has segmented the Service Robotics Market on the basis of Application, Component, Type, Environment and Geography.

• Service Robotics Market by Application
• Medical
• Field
• Defense
• Rescue & Security
• Entertainment
• Educational & Personal

• Service Robotics Market by Component
• Hardware
• Software

• Service Robotics Market by Type
• Professional
• Personal

• Service Robotics Market by Environment
• Aerial
• Ground
• Marine

• Service Robotics Market by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

Browse Related Reports:

Autonomous Delivery Robots Market by Type (Semi-Autonomous Robots, Fully Autonomous Robots), by End User (Hospitality, Retail, Logistics, Healthcare), by Geography, Forecast, 2020-2027

Entertainment Robots Market by Product (Robot Toys, Educational Robots, Robotic Companion Pets), by End User (Media, Education, Retail), by Geographic Scope, Forecast, 2020-2027

Military Robots Market by Platform (Airborne, Land-Based, Naval), by Payload (Radar, Camera, Video Screens, Weapons), by Application (Search and Rescue, Combat Support, Transportation, Mine, Clearance, Firefighting), by Geography, Forecast, 2019-2026

Surgical Robots Market by Component (Surgical systems, Accessories, Services), by Surgery Type (Gynecological surgery, Urological surgery, Neurosurgery, Orthopedic surgery, General surgery), by Geography, Forecast, 2020-2027

About Us

Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.

Our 250 Analysts and SME's offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defence, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & construction, Agriculture industry and Medical Devices from over 100 countries.

Contact Us
Mr. Edwyne Fernandes
Verified Market Research
US: +1 (650)-781-4080
UK: +44 (203)-411-9686
APAC: +91 (902)-863-5784
US Toll Free: +1 (800)-782-1768
Email: [email protected]
Web: https://www.verifiedmarketresearch.com/
Follow Us: LinkedIn | Twitter

SOURCE Verified Market Research