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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.

Service Robotics Market Revenue Analysis

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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

Service Robotics Market Segmentation Analysis

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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

Service Robotics Market Report Scope:

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.

Frequently Asked Questions

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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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

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Data Bank Validation

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