Global Service Robots Market Global Potential Growth, Share, Demand and Analysis of Key Players – Forecasts to 2021 -2030

In a recently published report, Global Service Robots Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Service Robots Market products.

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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.

Service Roboticsare human assistance robots which perform tasks which are redundant, life threatening, dangerous, or dirty for human beings to perform including households’ tasks. These machines can be either fully automated or partially or fully manual operated.TheService Robotics Market was valued at USAD XXX Billion in 2015 and is expected to reach USAD XXX Billion by 2020, at a CAGR of XX% between 2015 and 2020.
Service robots are increasingly being used in various professional and personal tasks owing to advantages such as enhanced user interface, efficient and high-quality services, reliability, and reduced operational costs and manual errors. Professional service robots are deployed in various sectors including defence, rescue, logistics, construction, medical, and security, agriculture, and professional cleaning among others, whereas personal service robots are used for domestic and leisure purpose.

Market Dynamics
The major factors that drive the market for Service Robotics are as under:
1. The lack of skilled workforce and consequently increasing labour cost are increasing the demand of service robots in logistics sector for warehouse automation for better and efficient operations, in healthcare for better patient output.
2. Rising government support in the form of fundings and investments in R&D of the service robot technology.
3. Escalating elderly population and rising awareness among the people about the uses of service robots in healthcare and personal assistance.
4. Rising demands of service robots in defence and education sectors coupled with short to medium term payback period and high ROI.

The major factors acting as a roadblock in the growth of the Service Robotics market are as under:
1. The high costs and high initial investments in technology and infrastructure of service robots are the main hindrance in their adoption and key players are constantly improving costs so that more professional and personal robots can be used by end users.
2. As the service robots will work in close interaction with the human rea world, the safety of humans from robot and their ability to understand the unstructured human environment are some of the main concerns of the manufacturers.

Market Segmentation
The Service Robotics market is bifurcated on the basis of end user’s application, operating environment and region. The further bifurcations of the segment are presented below:
On the basis of End User Application
o Professional
> Logistics
> Medical
> Field Robotics
> Defence, Rescue & Security
> Marine
> Telepresence Robot
> Inspection & Maintenance
o Personal
> Education, research and hobbyists
> Entertainment
> Domestics works

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The professional application segment is the current most deployed and developed segment due to high use of logistics, telepresence and defence robots.
On the basis of Operating Environment
o Ground
> Defence, Rescue & Security
> Field Robotics
> Medical
> Logistics
> Telepresence
> Inspection & maintenance
> Domestic Tasks
> Education and Entertainment
> Personal Assistance & Home security
o Aerial
> Civil commercial
> Military
o Marine
o Remotely Operated Underwater Vehicles (ROVs)
o Automated Guided Underwater Vehicle (AUVs)
o Unmanned Surface vehicles Controls

The ground operating environment is expected to grow at the highest rate during the forecast period due to use of service robots for automation of warehouses around the globe and the increasing demand for personal assistance robots.
On the basis of Region
o Europe
o North America
o Asia Pacific
o Latin America, Middle East and Africa(LAMEA)

Geographic Analysis
Geographically the market is segmented into following different regions:North Americas, Europe, the Asia-Pacific, Latin America and Middle East and Africa. Europe is the leading market contributor in the global service robotics market followed by North America. The dominance of Europe is due to their increased demands from the defence, education and research and domestic sector and reduced production costs due to technological breakthroughs and improvements. Also, the rising demands for milking robots, marine robots and logistics robot are further expected to increase the market share of Europe. UK is the largest market of service robots in Europe owing to the increased adoption by elderly population for healthcare and personal care in the country. Asia Pacific is expected to grow at the highest CAGR in the forecast period. This is attributed to the presence of the major key players like Sony Corporation, DJI, Honda motor, etc in the region, presence of three main markets namely Japan, China and India, increased need to battle the growing global competition, rising demand of service robots in households, security and defence which is further enhancing the need to improve productivity and reduce costs.

Key Players
The key players who are driving the market of Service Robotics and determine its future are: KUKA AG (Germany), Kongsberg Maritime AS (Norway), DJI (China), Parrot SA (France), Gecko Systems Intl. Corp. (U.S.), Honda Motor Co. Ltd. (Japan), iRobot Corporation (U.S.), Adept Technology, Inc. (U.S.), Bluefin Robotics- now wholly owned subsidiary of General Dynamics Mission Systems, Inc. (U.S.), ECA Group (France), Aethon Inc. (U.S.), Intuitive Surgical, Inc. (U.S.), DE Laval International AB (Sweden), and Lely Holding S.A.R.L. (Netherlands), Nachi-Fujikoshi, Northrop Grumman Corporation (U.S.), Yaskawa Electric Corporation.
Report ContentsRegional AnalysisReport Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players

North America
US and Canada

Latin America
Mexico, Brazil, Argentina and Rest of Latin America

Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe

Eastern Europe
Rest of Eastern Europe

Asia Pacific
Australia and New Zealand
Rest of Asia Pacific

Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

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Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage

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