Asia Pacific Service Robotics Market Forecast 2018-2026
The Service robotics market in Asia-Pacific is estimated to grow at a CAGR of 19.27% during the forecast period of 2018-2026. The untapped emerging markets and the growing demand for networking robotics systems are presenting the market with plenty of growth opportunities. That is the reason why the Asia-Pacific market is expected to show the highest growth rate as compared to other regional markets.
The two major drivers that are responsible for the growth of the market are the increasing elderly population and a growing need for automation. The market is segmented on the basis of type and application. Although China service robotics market accounted for the highest revenue share in 2017, it is the Indian market that is expected to exhibit the fastest CAGR. The rising demand for robotics and high return on investments are factors responsible for the market prosperity in this country.
Some of the top players in the market include Honda Motor Co. Ltd., Toyota, Gecko Systems International Corporation, Fujitsu Ltd, Google Inc, Irobot Corporation, Hansen MedicalLely, Medsys SA, Macdonald Dettwiler and Associates Ltd., Sony Corporation etc.