Global $20+ Billion Service Robotics Market to 2025

Dublin, July 13, 2021 (GLOBE NEWSWIRE) -- The "Service Robotics Market (Impact of COVID-19) and Volume Analysis by Type (Professional Service Robots, Personal and Domestic Service Robots) and Key Players Analysis - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global service robotics market was valued US$ 20.4 Billion in 2020 and is expected to show significant growth during the forecast period.

Service robots have witnessed widespread acceptance among various professional and personal applications owing to benefits such as enhanced usability, delivery of accurate and high-quality services, reliability, and reduced operational costs and human errors.

Professional service robots are employed in various industries including medical, defense, agriculture, logistics, inspection and maintenance, rescue and security, construction, and professional cleaning among others, whereas personal service robots are used for domestic and entertainment and leisure purpose.

The service robotics market is driven by an upsurge in its adoption owing to high labor cost, lack of skilled workforce, increasing research and development investments, growing awareness regarding the benefits of service robots, and increased demand for automation among professional and personal sectors. The high initial investment and concern for human safety restricts the growth of the market.

Global Professional Service Robotics Market and Volume Forecast - By Segment

The medical applications accounted for maximum share of the global professional service robotics market, followed by logistic segment. Medical application employs service robots for a wide range of applications such as surgery, diagnostics, physical and mental therapy, and prosthetics among others. The use of service robots in logistic industry is anticipated to show substantial growth.

The growing e-commerce industry is the primary growth driver for this market. Defence robotics captured third highest share of the professional service robotics market in 2020, followed by Agriculture robots or Agribots. The implementation of robotics in agriculture is expected to bring out transformational result in coming years.

In volume terms, the logistic robots accounted for maximum share of the overall professional service robotics volume. Public Relation Robots form the second largest category of professional service robots by unit sales. The new social distancing paradigm and COVID-19 related travel restrictions provide excellent growth opportunities for these applications. The medical robots accounted for around 5% share of the professional service robotics volume in 2020, due to expensive nature of these devices.

Global Personal and Domestic Service Robotics Market and Volume Forecast - By Segment

Household robots accounted for maximum share of the personal and domestic service robotics market both in value and volume terms. This segment is likely to lead the personal and domestic service robotics volume throughout the forecast period.

The household robotics market consists of a wide variety of products focused on single tasks, such as floor care, lawn care, and pool care. While, entertainment and leisure robots are aimed at youth in the hopes of boosting their interest in robotics and other technical fields.

Impact of COVID-19 on Service Robotics Market

The COVID-19 outbreak has become a global stress test. The disease has infected around 174 Million people worldwide. Globally the death toll has reached 3,740,514, according to latest statistics from the Worldometers (as of June 6, 2021). The number is still growing, and the duration of the pandemic is still difficult to predict. The novel coronavirus has increased interest in robots, drones, and artificial intelligence.

The markets for most types of service robots seems hardly affected by the COVID-19 pandemic. Robotic solutions support social distancing, are not sent to quarantine and are not affected by travel bans. These technologies can help deal with massive staffing shortages in healthcare, manufacturing, and supply chains; the need for "social distancing;" and diagnosis and treatment.

For example, service robotics play a vital role in healthcare, they minimize human intervention at all levels, starting from patient examination to patient care and drug delivery mechanism. The virus has been a good opportunity for companies to display robots for public applications. Public Relations, Rescue and Security, Inspection, Cleaning, Monitoring, and Detection are all key aspects of containing the pandemic. Disinfection robot UVD for example has been in high demand since the outbreak of COVID-19 pandemic.

Key Topics Covered:

1. Executive Summary

2. Impact of Coronavirus (COVID-19) Pandemic on Service Robotics Market

3. Global Service Robotics Market and Forecast (2009 - 2025)
3.1 Global Professional Service Robotics Market and Forecast
3.2 Global Personal and Domestic Service Robotics Market and Forecast

4. Global Service Robotics Volume and Forecast (2009 - 2025)
4.1 Global Professional Service Robotics
4.2 Global Personal and Domestic Service Robotics

5. Global Service Robotics Market and Volume Share Analysis (2009 - 2025)
5.1 Global Service Robotics
5.2 Global Professional Service Robotics
5.3 Global Personal and Domestic Service Robotics
5.4 Global Service Robotics
5.5 Global Professional Service Robotics
5.6 Global Personal and Domestic Service Robotics

6. Global Professional Service Robotics Market and Volume Forecast - By Segment (2009 - 2025)
6.1 Global Defense Robotics
6.2 Global Agriculture/Field Robotics
6.3 Global Logistic Robotics
6.4 Global Medical Robotics
6.5 Global Construction Robotics
6.6 Global Mobile Platforms Robotics
6.7 Global Inspection Robotics
6.8 Global Underwater Robotics
6.9 Global Rescue and Security Robotics
6.11 Global Exoskeleton Robotics
6.12 Global Public Relation Robotics
6.13 Global All Others Robotics

7. Global Personal and Domestic Service Robotics Market and Volume Forecast - By Segment (2009 - 2025)
7.1 Global Household Robotics
7.2 Global Entertainment and Leisure Robotics

8. Key Player Analysis (2010 - 2025)
8.1 KUKA AG
8.2 Adept Technology (Acquired by OMRON)
8.3 iRobot Corporation
8.4 Intuitive Surgical
8.5 Nachi-Fujikoshi
8.6 Yaskawa Electric Corporation

9. Global Service Robotics Market - Growth Drivers
9.1 Increasing Research and Development Expenditure
9.2 Technology Trends Shaping the Future of Robotics
9.3 Government Initiatives Drives Market for Robotics
9.4 Co-Bots Drives Robotics Industry
9.5 Improved Service, Increased Operational Efficiency and Safety

10. Global Service Robotics Market - Challenges
10.1 Human-Robot Interaction Challenges
10.2 The High Cost of Robots Restricts Market Growth
10.3 Delayed Return on Investment (ROI)

For more information about this report visit https://www.researchandmarkets.com/r/69vimh

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