Report Scope & Overview:
The Service Robotics Market Size was valued at USD 44.80 billion in 2022, and is expected to reach USD 252.06 billion by 2030 and grow at a CAGR of 24.1% over the forecast period 2023-2030.
Service robots are semi-automatic or fully-automatic robots that perform helpful and sometimes hazardous tasks for humans. These robots help people in a variety of fields, including medical and healthcare, construction, automation, domestic, and entertainment. These robots are operated automatically by an internal control system, with the option to overrule the operation manually. These service robots remove the possibility of human mistake, manage time, and boost production by decreasing the workload of employees and labors.
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MARKET DYNAMICS:
KEY DRIVERS:
Increasing funding for robotics research.
IoT is increasingly being used in robots for cost-effective predictive maintenance.
Robots are increasingly being used in novel applications, with substantial returns on investment.
RESTRAINTS:
Data privacy and regulatory concerns.
OPPORTUNITIES:
Adoption of swarm intelligence technology, which allows robots to easily accomplish a variety of complicated jobs.
Use of robots for companionship, disability help, and geriatric support.
CHALLENGES:
Inaccurate findings make usage in essential processes impossible.
IMPACT OF COVID-19:
The COVID-19 pandemic, a lethal respiratory illness, has now become a global concern. The COVID-19 epidemic has had a significant influence on the service robotics market's value chain. The pandemic-affected countries of the United States, China, and Japan are likely to account for major portions of the service robotics market. Many industries, including automotive and aerospace and military, were negatively hit by COVID-19, although they recovered by the end of 2020 and entered 2021 with a minor increase in growth rate. COVID-19 has had an impact on the services sector, although a U-shaped rebound is envisaged, with steady improvement in the world economy.
Based on Type, the service robotics market is segmented into Personal and Domestic and Professional. During the projected period, the market for personal and domestic robots is predicted to rise at a faster CAGR. Domestic robots, such as robotic floor vacuums and mops, are becoming increasingly popular. Cleaning robots are commonly utilized both personally and professionally. The availability of rental robots can be linked to the rapid development rate.
Based on Environment, the service robotics market is segmented into Aerial, Marine and Ground. During the projected period, the market for aerial drones is predicted to develop at the fastest CAGR. This is due to the rising use of business drones for purposes such as agriculture field surveys and traffic monitoring, as well as the higher selling costs of commercial drones compared to consumer drones. The development of solar cells as a power source for drones and the reduction of the cost of UAV manufacturing processes can help to lower the cost of propulsion systems and contribute to the increase in their growth rate.
Based on Component, the service robotics market is segmented into Hardware and Software. The component-wise growth rate for service robotics is expected to be greater for the software component, since service robot deployment is anticipated to become more application-specific. An AGV programmed for swarm operation on a factory floor, it might also be programmed for food delivery. For operations, delivery drones would require real-time software that takes into consideration environmental variables such as weather. The majority of developments in robotic vacuum cleaners have occurred in software, with capabilities like as live floor mapping and remote activation via interaction with voice assistants.
KEY MARKET SEGMENTATION:
BY TYPE
Personal and Domestic
Professional
BY COMPONENT
Hardware
Software
BY ENVIRONMENT
Aerial
Marine
Ground
BY APPLICATION
Domestic
Medical
Field
Defense
Entertainment
Logistics
Research and Space Exploration
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REGIONAL ANALYSIS:
The service robotics market in the worldwide market is classified into four regions: North America, Asia-Pacific, Europe, and the rest of the world. The North American area has the biggest market share due to rising market use in nations such as the United States and Canada. Furthermore, the growing usage of robots in the medical, construction, and defence industries raises the region's growth share. Europe is the region with the second-largest market share. It is also found that the North America and Europe regions control the industry by growing concurrently. The Asia-Pacific area is the fastest-growing country, with a positive market growth rate.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
KEY PLAYERS:
The key players in the service robotics market are Intuitive Surgical, Panasonic Corporation, Samsung Electronic, robert bosch, AB Electrolux, iRobot Corporation, Honda Motor, Aethon, Yujin Robot, DeLaval & Other Players.
Panasonic Corporation-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 44.80 Billion |
| Market Size by 2030 | US$ 252.6 Billion |
| CAGR | CAGR of 24.1% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Programmable (FPGA & PLD) DSP IC, Application-Specific DSP IC, General-Purpose DSP IC) • By Type (Personal And Domestic, Professional) • By Component (Hardware, Software) By Environment (Aerial, Marine, Ground) • By Application (Domestic, Medical, Field, Defense, Entertainment, Logistics, Research And Space Exploration) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Intuitive Surgical, Panasonic Corporation, Samsung Electronic, robert bosch, AB Electrolux, iRobot Corporation, Honda Motor, Aethon, Yujin Robot and DeLaval. |
| Key Drivers | • Increasing funding for robotics research. • IoT is increasingly being used in robots for cost-effective predictive maintenance. |
| Restraints | • Data privacy and regulatory concerns. |
Ans: The Service Robotics Market size was valued at USD 44.80 billion in 2022.
The market value is expected to reach USD 252.06 billion by 2030.
The market has been segmented with respect to type, environment, component and application.
Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.
Ans: The Service Robotics Market is to grow at a CAGR of 24.1% over the forecast period 2023-2030.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Service Robotics Market Segmentation, by Solution Type
8.1Introduction
8.2 Personal and Domestic
8.3 Professional
9. Service Robotics Market Segmentation, by Component
9.1Introduction
9.2 Hardware
9.3 Software
10. Service Robotics Market Segmentation, by Environment
10.1 Introduction
10.2 Aerial
10.3 Marine
10.4 Ground
11. Service Robotics Market Segmentation, by Application
11.1 Introduction
11.2 Domestic
11.3 Medical
11.4 Field
11.5 Defense
11.6 Entertainment
11.7 Logistics
11.8 Research and Space Exploration
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company Profiles
13.1 Panasonic Corporation
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Intuitive Surgical
13.3 Samsung Electronic
13.4 robert bosch
13.5 AB Electrolux
13.6 iRobot Corporation
13.7 Honda Motor
13.8 Aethon
13.9 Yujin Robot
13.10 DeLaval
14. Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share Analysis
14.3 Recent Developments
15. Conclusion
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