Service Robotics Market, Size, Global Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis
Description
Service Robotics Market, Size, Global Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis
Global Service Robotics Market will reach US$ 42.2 Billion by 2027. Across the globe, the robotics industry is rapidly enabling the service robotics market trends, owing to the fast-paced technological advancements converging in automation, machine learning, engineering, and artificial intelligence. The effects of the introduction of robots have resulted in the conversion of the task-performing capacity of humans. Service robots are designed to assist humans and perform helpful tasks, excluding industrial and manufacturing automation applications. They operate semi or fully automatically and can perform tedious & dangerous tasks and provide enhanced efficiency and increased safety.
Global Service Robotics Industry will grow at a CAGR of 24.6% from 2021-2027
Apart from this, the growing need to control, monitor, and manage several operations in the logistics, healthcare, and household sectors, along with rising labour costs, drives the market demand. The difficulties in handling day-to-day tasks, workloads, and intensive operations add up to the need for these robots due to their high functional efficiency features. Due to substantial R&D investments, product innovations, and increased consumer awareness of robotic benefits. These systems are seeing high demand in human service tasks to reduce the work pressure, and the same effort in repetitive tasks. Several organizational innovations and government initiatives promote automated & robotic systems, and create several industry growth opportunities.
Professional Cleaning Account for a Significant Market Share
On the basis of segment, service robots are employed in Transportation & Logistics, Professional Cleaning, Medical Robotics, Hospitality, and Agriculture & Field. The professional cleaning segment would exhibit an advantageous growth rate during the forecast period. The manual cleaning of carpets and floors in commercial spaces, like shopping malls and corporate offices, is a very time-consuming task. This has facilitated the operators of the commercial spaces to select a robotic cleaning system.
Among these, medical robots are anticipated to show significant growth due to people's rising shift towards integrating robotic solutions for critical medical operations and the introduction of high-tech testing labs. They reduce the workload of medical staff, allowing them to expend more time caring directly to patients while creating significant operational procedure which delivers efficacy and reduces cost investments for healthcare amenities.
Service Robotics Market was US$ 11.3 Billion in 2021
Geographically, North America accounts for a substantial share in the global service robotics industry. The factors can be attributed to the early adoption of technology in the region, associated with the movement to make higher investments in research. The adoption of assistive robot technologies has helped the market to grow in the region. Moreover, the United States is a leader in the service robotics industry for field logistics construction and robotics within North America. The usage of robotics in this region is varied and used in professional cleaning.
COVID-19, Impact on Global Service Robotic Industry
The markets for most service robots seem hardly impacted by the COVID-19 pandemic. Robotic solutions support social distancing, are unaffected by travel bans, and are not quarantined. The outbreak of COVID-19 has encouraged the adoption of a service robot for performing various tasks such as disinfection, contactless delivery operations, delivering medications and food, and assisting border controls. These technologies can help deal with enormous staffing shortages in manufacturing, supply chains, healthcare, and diagnosis and treatment. Thus, the market can glimpse several deployment instances, particularly in healthcare.
Competitive Landscape:
The Service Robotics market is consolidated players include iRobot Corporation, Intuitive Surgical, Inc, Panasonic Corporation, Fanuc, ABB Ltd, Stryker Corporation, Yaskawa Electric Corporation.
Renub Research study titled “Global Service Robotics Market by Segments (Transportation & Logistics, Professional Cleaning, Medical Robotics, Hospitality, and Agriculture & Field) by Region (North America, Europe, Asia Pacific and Rest Of the World) by Company Analysis (iRobot Corporation, Intuitive Surgical, Inc, Panasonic Corporation, Fanuc, ABB Ltd, Stryker Corporation, Yaskawa Electric Corporation)” analyses the global service robotics industry.
Segments - Market has been covered from 5 viewpoints
1. Transportation & Logistics
2. Professional Cleaning
3. Medical Robotics
4. Hospitality
5. Agriculture & Field
Region - Market has been covered from 4 viewpoints
1. North America
2. Europe
3. Asia Pacific
4. Rest Of the World
Company Insights:
• Overviews
• Recent Developments
• Revenues
Company Analysis
1. iRobot Corporation
2. Intuitive Surgical, Inc
3. Panasonic Corporation
4. Fanuc
5. ABB Ltd
6. Stryker Corporation
7. Yaskawa Electric Corporation
Global Service Robotics Market will reach US$ 42.2 Billion by 2027. Across the globe, the robotics industry is rapidly enabling the service robotics market trends, owing to the fast-paced technological advancements converging in automation, machine learning, engineering, and artificial intelligence. The effects of the introduction of robots have resulted in the conversion of the task-performing capacity of humans. Service robots are designed to assist humans and perform helpful tasks, excluding industrial and manufacturing automation applications. They operate semi or fully automatically and can perform tedious & dangerous tasks and provide enhanced efficiency and increased safety.
Global Service Robotics Industry will grow at a CAGR of 24.6% from 2021-2027
Apart from this, the growing need to control, monitor, and manage several operations in the logistics, healthcare, and household sectors, along with rising labour costs, drives the market demand. The difficulties in handling day-to-day tasks, workloads, and intensive operations add up to the need for these robots due to their high functional efficiency features. Due to substantial R&D investments, product innovations, and increased consumer awareness of robotic benefits. These systems are seeing high demand in human service tasks to reduce the work pressure, and the same effort in repetitive tasks. Several organizational innovations and government initiatives promote automated & robotic systems, and create several industry growth opportunities.
Professional Cleaning Account for a Significant Market Share
On the basis of segment, service robots are employed in Transportation & Logistics, Professional Cleaning, Medical Robotics, Hospitality, and Agriculture & Field. The professional cleaning segment would exhibit an advantageous growth rate during the forecast period. The manual cleaning of carpets and floors in commercial spaces, like shopping malls and corporate offices, is a very time-consuming task. This has facilitated the operators of the commercial spaces to select a robotic cleaning system.
Among these, medical robots are anticipated to show significant growth due to people's rising shift towards integrating robotic solutions for critical medical operations and the introduction of high-tech testing labs. They reduce the workload of medical staff, allowing them to expend more time caring directly to patients while creating significant operational procedure which delivers efficacy and reduces cost investments for healthcare amenities.
Service Robotics Market was US$ 11.3 Billion in 2021
Geographically, North America accounts for a substantial share in the global service robotics industry. The factors can be attributed to the early adoption of technology in the region, associated with the movement to make higher investments in research. The adoption of assistive robot technologies has helped the market to grow in the region. Moreover, the United States is a leader in the service robotics industry for field logistics construction and robotics within North America. The usage of robotics in this region is varied and used in professional cleaning.
COVID-19, Impact on Global Service Robotic Industry
The markets for most service robots seem hardly impacted by the COVID-19 pandemic. Robotic solutions support social distancing, are unaffected by travel bans, and are not quarantined. The outbreak of COVID-19 has encouraged the adoption of a service robot for performing various tasks such as disinfection, contactless delivery operations, delivering medications and food, and assisting border controls. These technologies can help deal with enormous staffing shortages in manufacturing, supply chains, healthcare, and diagnosis and treatment. Thus, the market can glimpse several deployment instances, particularly in healthcare.
Competitive Landscape:
The Service Robotics market is consolidated players include iRobot Corporation, Intuitive Surgical, Inc, Panasonic Corporation, Fanuc, ABB Ltd, Stryker Corporation, Yaskawa Electric Corporation.
Renub Research study titled “Global Service Robotics Market by Segments (Transportation & Logistics, Professional Cleaning, Medical Robotics, Hospitality, and Agriculture & Field) by Region (North America, Europe, Asia Pacific and Rest Of the World) by Company Analysis (iRobot Corporation, Intuitive Surgical, Inc, Panasonic Corporation, Fanuc, ABB Ltd, Stryker Corporation, Yaskawa Electric Corporation)” analyses the global service robotics industry.
Segments - Market has been covered from 5 viewpoints
1. Transportation & Logistics
2. Professional Cleaning
3. Medical Robotics
4. Hospitality
5. Agriculture & Field
Region - Market has been covered from 4 viewpoints
1. North America
2. Europe
3. Asia Pacific
4. Rest Of the World
Company Insights:
• Overviews
• Recent Developments
• Revenues
Company Analysis
1. iRobot Corporation
2. Intuitive Surgical, Inc
3. Panasonic Corporation
4. Fanuc
5. ABB Ltd
6. Stryker Corporation
7. Yaskawa Electric Corporation
Table of Contents
125 Pages
- 1. Introduction
- 2. Research & Methodology
- 3. Executive Summary
- 4. Market Dynamic
- 4.1 Growth Drivers
- 4.2 Challenges
- 5. Market & Volume Analysis – Global Service Robotics
- 5.1 Market
- 5.2 Volume
- 6. Share Analysis – Global Service Robotics
- 6.1 By Segment Market Share
- 6.2 By Segment Volume Share
- 6.3 By Region Market Share
- 7. Segments- Service Robotics Market & Volume Analysis
- 7.1 Transportation & Logistics
- 7.1.1 Market
- 7.1.2 Volume
- 7.2 Professional Cleaning
- 7.2.1 Market
- 7.2.2 Volume
- 7.3 Medical Robotics
- 7.3.1 Market
- 7.3.2 Volume
- 7.4 Hospitality
- 7.4.1 Market
- 7.4.2 Volume
- 7.5 Agriculture & Field
- 7.5.1 Market
- 7.5.2 Volume
- 8. By Region Service Robotics Market
- 8.1 North America
- 8.2 Europe
- 8.3 Asia Pacific
- 8.4 Rest Of the World
- 9. Porters Five Forces
- 9.1 Overview
- 9.2 Bargaining Power of Buyers
- 9.3 Bargaining Power of Suppliers
- 9.4 Degree of Competition
- 9.5 Threat of New Entrants
- 9.6 Threat of Substitutes
- 10. Company Analysis
- 10.1 iRobot Corporation
- 10.1.1 Overvie
- 10.1.2 Recent Development & Strategies
- 10.1.3 Financial Insights
- 10.2 Intuitive Surgical, Inc
- 10.2.1 Overview
- 10.2.2 Recent Development & Strategies
- 10.2.3 Financial Insights
- 10.3 Panasonic Corporation
- 10.3.1 Overview
- 10.3.2 Recent Development & Strategies
- 10.3.3 Financial Insights
- 10.4 Fanuc
- 10.4.1 Overview
- 10.4.2 Recent Development & Strategies
- 10.4.3 Financial Insights
- 10.5 ABB Ltd
- 10.5.1 Overview
- 10.5.2 Recent Development & Strategies
- 10.5.3 Financial Insights
- 10.6 Stryker Corporation
- 10.6.1 Overview
- 10.6.2 Recent Development & Strategies
- 10.6.3 Financial Insights
- 10.7 Yaskawa Electric Corporation
- 10.7.1 Overview
- 10.7.2 Recent Development & Strategies
- 10.7.3 Financial Insights
- List Of Figures:
- Figure-01: Global Service Robotics Market (Million US$), 2016 – 2021
- Figure-02: Forecast for – Global Service Robotics Market (Million US$), 2022 – 2027
- Figure-03: Global Service Robotics Volume (Thousand Units), 2016 – 2021
- Figure-04: Forecast for – Global Service Robotics Volume (Thousand Units), 2022 – 2027
- Figure-05: Segments – Transportation & Logistics Market (Million US$), 2016 – 2021
- Figure-06: Segments – Forecast for Transportation & Logistics Market (Million US$), 2022 – 2027
- Figure-07: Segments – Transportation & Logistics Volume (Thousand Units), 2016 – 2021
- Figure-08: Segments – Forecast for Transportation & Logistics Volume (Thousand Units), 2022 – 2027
- Figure-09: Segments – Professional Cleaning Market (Million US$), 2016 – 2021
- Figure-10: Segments – Forecast for Professional Cleaning Market (Million US$), 2022 – 2027
- Figure-11: Segments – Professional Cleaning Volume (Thousand Units), 2016 – 2021
- Figure-12: Segments – Forecast for Professional Cleaning Volume (Thousand Units), 2022 – 2027
- Figure-13: Segments – Medical Robotics Market (Million US$), 2016 – 2021
- Figure-14: Segments – Forecast for Medical Robotics Market (Million US$), 2022 – 2027
- Figure-15: Segments – Medical Robotics Volume (Thousand Units), 2016 – 2021
- Figure-16: Segments – Forecast for Medical Robotics Volume (Thousand Units), 2022 – 2027
- Figure-17: Segments – Hospitality Market (Million US$), 2016 – 2021
- Figure-18: Segments – Forecast for Hospitality Market (Million US$), 2022 – 2027
- Figure-19: Segments – Hospitality Volume (Thousand Units), 2016 – 2021
- Figure-20: Segments – Forecast for Hospitality Volume (Thousand Units), 2022 – 2027
- Figure-21: Segments – Agriculture & Field Market (Million US$), 2016 – 2021
- Figure-22: Segments – Forecast for Agriculture & Field Market (Million US$), 2022 – 2027
- Figure-23: Segments – Agriculture & Field Volume (Thousand Units), 2016 – 2021
- Figure-24: Segments – Forecast for Agriculture & Field Volume (Thousand Units), 2022 – 2027
- Figure-25: North America – Service Robotics Market (Million US$), 2016 – 2021
- Figure-26: North America – Forecast for Service Robotics Market (Million US$), 2022 – 2027
- Figure-27: Europe – Service Robotics Market (Million US$), 2016 – 2021
- Figure-28: Europe – Forecast for Service Robotics Market (Million US$), 2022 – 2027
- Figure-29: Asia Pacific – Service Robotics Market (Million US$), 2016 – 2021
- Figure-30: Asia Pacific – Forecast for Service Robotics Market (Million US$), 2022 – 2027
- Figure-31: Rest Of the World – Service Robotics Market (Million US$), 2016 – 2021
- Figure-32: Rest Of the World – Forecast for Service Robotics Market (Million US$), 2022 – 2027
- Figure-33: iRobot Corporation – Global Revenue Market (Million US$), 2016 – 2021
- Figure-34: iRobot Corporation – Forecast for Global Revenue Market (Million US$), 2022 – 2027
- Figure-35: Intuitive Surgical, Inc – Global Revenue (Million US$), 2016 – 2021
- Figure-36: Intuitive Surgical, Inc – Forecast for Global Revenue (Million US$), 2022 – 2027
- Figure-37: Panasonic Corporation – Global Revenue (Million US$), 2022 – 2027
- Figure-38: Panasonic Corporation – Forecast for Global Revenue (Million US$), 2016 – 2021
- Figure-39: Fanuc – Global Revenue (Million US$), 2022 – 2027
- Figure-40: Fanuc – Forecast for Global Revenue (Million US$), 2016 – 2021
- Figure-41: ABB Ltd – Global Revenue (Million US$), 2022 – 2027
- Figure-42: ABB Ltd – Forecast for Global Revenue (Million US$), 2016 – 2021
- Figure-43: Stryker Corporation – Global Revenue (Million US$), 2022 – 2027
- Figure-44: Stryker Corporation – Forecast for Global Revenue (Million US$), 2016 – 2021
- Figure-45: Yaskawa Electric Corporation – Global Revenue (Million US$), 2022 – 2027
- Figure-46: Yaskawa Electric Corporation – Forecast for Global Revenue (Million US$), 2016 – 2021
- List Of Tables:
- Table-01: Global – Service Robotics Market Share by Segment (Percent), 2016 – 2021
- Table-02: Global – Forecast for Service Robotics Market Share by Segment (Percent), 2022 – 2027
- Table-03: Global – Service Robotics Volume Share by Segment (Percent), 2016 – 2021
- Table-04: Global – Forecast for Service Robotics Volume Share by Segment (Percent), 2022 – 2027
- Table-05: Global – Service Robotics Market Share by Regions (Percent), 2016 – 2021
- Table-06: Global – Forecast for Service Robotics Market Share by Regions (Percent), 2022 – 2027
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