Service Robotics Market Worth 18.02 Billion USD by 2020

PUNE, India, December 4, 2015 /PRNewswire/ --

According to the new market research report "Service Robotics Market by Type (Ground, Aerial, Underwater), by Component (Software, Hardware), by Application (Professional, Personal) and by Geography (North America, Europe, Asia-Pacific, and RoW) - Analysis & Forecast to 2020", published by MarketsandMarkets, the service robotics market is estimated to reach USD 18.02 Billion by 2020, at a CAGR of 17.36% between 2015 and 2020.

Browse 72 market data Tables and 62 Figures spread through 156 Pages and in-depth TOC on "Service Robotics Market".

http://www.marketsandmarkets.com/Market-Reports/service-robotics-market-681.html

Early buyers will receive 10% customization on this report. 

The service robotics market is mainly driven by continuous technological advancements to develop autonomous and safe robots, increase in the demand from urban households for domestic cleaning, home security and surveillance, child and elderly assistance, and growing need of service robotics systems in professional applications such as defense, agriculture, medical, marine, and aerial among others.

Professional service robotics applications expected to lead the service robotics market 

The professional service robotics application accounted for dominant large share in 2014. This market is expected to grow at a high CAGR between 2015 and 2020. The growth is precedential due to the increasing use of service robotics in professional applications for accomplishing various tasks with or without direct intervention of humans.

The market for software component expected to grow at the highest CAGR between 2015 and 2020 

The market for software component is expected to grow at a high CAGR between 2015 and 2020; this is mainly due to the growing technological advancements for the development of complete autonomous robots for various professional and personal applications which can perform tasks autonomously.

North America expected to hold the largest market share during the forecast period 

North America accounted for the largest share of the service robotics market in 2014; the market in the region is expected to grow at a significant CAGR between 2015 and 2020. The leading position of North America can be attributed to the demand for domestic application robots from urban population and elderly assistance robots by elderly people as well as the demand for professional applications in agricultural fields, medical, and defense among others. Some of the key players in the service robotics market in North America include iRobot Corporation (U.S.), Google Inc. (U.S.), Adept Technology Inc. (U.S.), GeckoSystems (U.S.) among others.

Ask for PDF Brochure @ http://www.marketsandmarkets.com/pdfdownload.asp?id=681

Major players in this market include Intuitive Surgical (U.S.), DJI (China), iRobot Corporation (U.S.), Google Inc. (U.S.), KUKA AG (Germany), Honda (Japan), Adept Technology, Inc. (U.S.), GeckoSystems (U.S.), Northrop Grumman Corporation (U.S.), ECA Group (France), and Kongsberg Maritime (Norway).

This research report categorizes the global service robotics market based on type, component, application, and region. This report describes drivers, restraints, opportunities, and challenges for the growth of the service robotics market. The Porter's five forces analysis has been included in the report with a description of each of its forces and their respective impact on the service robotics market.

Browse Related Reports 

Mobile Robots Market by Environment (Aerial, Ground, and Marine), Component (Hardware and Software), Application (Professional Service and Personal Service), and Geography (North America, Europe, Asia-Pacific, and the RoW) - Global Forecast to 2020

http://www.marketsandmarkets.com/Market-Reports/mobile-robots-market-43703276.html

Smart Robots Market by Component (Software, Hardware), Application (Collaborative Industrial Robots, Personal Service Robots, Professional Service Robots), by Geography (North America, Europe, APAC, RoW) - Analysis & Forecast to 2020

http://www.marketsandmarkets.com/Market-Reports/smart-robots-market-48470534.html

About MarketsandMarkets 

MarketsandMarkets is world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical info graphics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Contact:

Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Tel: +1-888-600-6441
Email: sales@marketsandmarkets.com

Visit MarketsandMarkets Blog@ http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors

Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets

SOURCE MarketsandMarkets