The global service robotics market is expected to reach nearly US$ 13 Billion by 2021, 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. However, high initial investment and concern for human safety restricts the growth of the market.
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, rescue and security, agriculture, logistics, construction, and professional cleaning among others, whereas personal service robots are used for domestic and entertainment and leisure purpose.
Key Highlights of the Report:
- The global service robotics market is expected to almost double by 2021 from 2015 - The global professional service robotics market is anticipated to cross US$ 8 Billion mark by 2021 - The market for personal and domestic service robotics segment is expected to reach nearly US$ 5 Billion by 2021 - The global professional service robotics sales volume is predicted to reach nearly 100,000 units by 2021 - In 2015, medical application was the major industry vertical, in terms of market share, followed by defense applications - Agriculture/field robots controlled over 20% share of the professional service market in 2015 - In volume terms, the logistic robots accounted for maximum share of the overall professional service robotics volume in 2015 - The medical robots accounted for single digit share of the professional service robotics volume in 2015, due to expensive nature of these devices - In the personal and domestic service robotics, the entertainment and leisure robot captured maximum share of the market in 2015 - In terms of volume, the household robots captured majority share of the overall personal and domestic service robotics volume in 2015
- Adept Technology (Acquired by OMRON) - Intuitive Surgical - iRobot Corporation - KUKA AG - Nachi-Fujikoshi - Yaskawa Electric Corporation