KEY FINDINGS European service robotics market is estimated to grow at a CAGR of 14.41%. The market value is estimated to grow from $2956.03 million in 2016 and reach $10044.45 million by 2025. The rising demand for robotics in various industries coupled with the continuous research and development in this field are responsible for boosting the European service robotics market.
MARKET INSIGHTS The service robotics market is divided by type into professional service robotics and personal service robotics. The personal service robotics segment is expected to exhibit a higher growth rate over the forecast years as compared to professional service robotics. The personal service robotics include applications like entertainment robots, vacuum cleaning & mopping robots, domestic robots, lawn mowing & pool cleaning robots, home security & surveillance, handicap assistance robots, etc. The entertainment and educational robots are the main end-users for the personal service robotics which are expected to continue their dominance over the forecast period. The end-users for professional service robotics that are currently leading the market scene include defense, rescue & security applications like demining robots, fire and bomb fighting robots, field robotics like agriculture and forestry, harvesting robots, sheep shearing robots, weeding and micro spraying robot etc and other applications like construction and demolitions, medical systems, logistics etc.
COMPETITIVE INSIGHTS Some of the eminent players in the market include Qiagen, Sony Corporation, Northrop Grumman Corporation, Macdonald Dettwiler and Associates Ltd, Medsys SA, Hansen Medical, Irobot Corporation, Lely, Google Inc, Honda Motor Co. Ltd, Geckosystems International Corporation, Blue River Technology, ECA Group, Argo Robotics, AB Electrolux, etc.