Service Robotics Market rapid industrial growth and urbanization Forecast 2022-2030
Service Robotics Market Insights
Service Robotics Market was worth USD 36.5 Billion in 2021, and the market is anticipated to register a growth of USD 243.9 Billion by 2030 at a CAGR of 23.5% during the forecast period (2022-2030).
Service robotics refers to the use of robots and automated systems in a variety of service applications, such as healthcare, hospitality, transportation, and retail. The service robotics market is experiencing rapid growth due to advancements in technology, the increasing demand for automation in various industries, and the need for cost-effective solutions for labor-intensive tasks.
The applications of service robotics are diverse, including healthcare, hospitality, transportation, retail, logistics, and entertainment. Service robots are used to perform tasks such as patient care and monitoring, housekeeping and maintenance, delivery and transportation of goods, customer service, and entertainment.
The global service robotics market was valued at USD 12.8 billion in 2020 and is expected to grow at a CAGR of 19.9% from 2021 to 2028. The market is driven by factors such as the increasing demand for automation in various industries, the need for cost-effective solutions for labor-intensive tasks, and the growing trend of smart cities and homes. Asia-Pacific is expected to dominate the market due to the increasing demand from emerging economies such as China, India, and Japan.
By Type :
Professional and Personal
Domestic (Robots for Household Tasks
Elderly and Handicap Assistance), Industrial/Commercial (Field Robots, Professional Cleaning, Inspection and Maintenance, Construction and Demolition, Logistics Systems, Medical Robots, Rescue and Security Robots, Defense Robots, Underwater Systems, Powered Human Exoskeletons, Public Relation Robots )
North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa
The service robotics market can be segmented based on type, application, component, and region. By type, the market can be segmented into professional service robots and personal/domestic service robots. By application, the market can be segmented into healthcare, hospitality, transportation, retail, logistics, and entertainment. By component, the market can be segmented into hardware and software.
In conclusion, the service robotics market is expected to experience significant growth in the coming years due to the increasing demand for automation in various industries, the need for cost-effective solutions for labor-intensive tasks, and the growing trend of smart cities and homes. The market is characterized by the presence of numerous players offering a range of service robotics solutions. With the growing demand from emerging economies and the increasing adoption of advanced technologies, the service robotics market is expected to remain strong in the future. Additionally, the development of new applications and the increasing focus on research and development are expected to further fuel market growth.
The study provides answers to the following key questions:
• What type of customers buying the products and services from companies operating in the Service Robotics Market?
• What will be the roadmap for the product manufacturers operating in the Service Robotics Market for the forecast period, 2022-2030?
• What are the recent developments in the competitive landscape to look out for during the estimated period?
• What are the major trends influencing customers’ lives and their buying behaviour?
• How can brands best communicate with the customers they intend to target?
• When, where and how the customers want to use or consume the products or services?
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