Market Analysis: Global Service Robotics Market 

Service robotics market is expected to rise to an estimated value of USD 55.72 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the rise in demand for automation services and products from the various developing regions of the world.

Market Definition: Global Service Robotics Market 

Service robots are basically assistance-focused robots which are developed with a focus on operating on the same task repeatedly. These robots are employed majorly because the task is dull or dangerous giving rise to risks towards the life of employees. These robots are designed as autonomous robots and are used for tasks excluding industrial automation and are categorised based on the tasks they perform.

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Market Drivers:

• Rapid rise in the adoption and application areas of service robotics is expected to increase its demand and positively affect the growth of the market
• High return on investments within a short period of time with the adoption of these robots amid increasing costs of human labour; this factor is expected to drive the growth of the market
• Increasing usage and demand of these robots for self-defence and military applications is expected to positively drive the growth of the market

Market Restraints:

• Requirement of large capital funding for the development and high cost of R&D expenditure are factors restraining the growth of the market
• Lack of experience in a number of environments and areas where the need for safe working environment is of utmost importance is expected to restrain the growth of the market growth

Segmentation: Global Service Robotics Market 

By Type

• Professional Service Robots
• Personal Service Robots

By Operating Environment

• Marine
  • AUVs (Automated Guided Underwater Vehicles)
  • ROVs (Remotely Operated Underwater Vehicles)
  • Unmanned Surface Vehicles Controls
• Aerial
  • Civil & Commercial
  • Military
• Ground-Based
  • Field Robotics
  • Logistics
  • Telepresence
  • Domestic Tasks
  • Defense, Rescue & Security
  • Medical
  • Inspection & Maintenance
  • Personal Assistance & Home Security
  • Education & Entertainment

By Application

• Professional Application
  • Defense, Rescue & Security
    • UAV
    • UGV
    • Demining
    • Fire & Bomb Fighting
    • Others
      • Surveillance/Security
  • Field Robots
    • Agriculture
    • Forestry
    • Milking
    • Others
      • Mining Systems
      • Space Robots
  • Construction
    • Excavator
    • Demolition
    • Bulldozer
    • Others
      • Welding
      • Material Handling
  • Medical
    • Surgical
    • Rehabilitation
    • Hospital & Pharmacy
    • Others
      • Diagnostic
      • Emergency Response Robotic Systems
      • Prosthetics/Exoskeletons
  • Marine
  • Logistics
    • Factory Logistics
    • Outdoor Logistics
    • Others
      • Cargo Handling
      • Mail Sorting
  • Telepresence
  • Inspection & Maintenance
  • Others
    • Professional Cleaning
    • Others
      • Hotel & Restaurant
• Personal Application
  • Domestic Tasks
    • Cleaning
    • Assistive
    • Others
      • Lawn-Mowing
      • Home Security & Surveillance
  • Entertainment
    • Toys
    • Others
      • Robotic Companion Pets
      • Multimedia Robots
  • Education, Research & Hobbyist
  • Others

By Geography

• North America
  • US
  • Canada
  • Mexico
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Turkey
  • Belgium
  • Netherlands
  • Switzerland
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • South Korea
  • India
  • Australia
  • Singapore
  • Malaysia
  • Indonesia
  • Thailand
  • Philippines
  • Rest of Asia-Pacific
• Middle East and Africa
  • South Africa
  • Egypt
  • Saudi Arabia
  • United Arab Emirates
  • Israel
  • Rest of Middle East and Africa

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Key Developments in the Market:

• In October 2018, Cal-Comp Technology (Philippines), Inc. announced that they had agreed to a partnership with SM SUPERMALLS regarding the supply and provision of “New Era AI Robotic” service robots. The robot will provide visitors with information regarding the mall and its tenants.
• In September 2018, Alibaba Group Holding Limited announced that they are planning to launch a new service robot for the hospitality sector during the Alibaba Cloud Computing Conference 2018 held in Hangzhou, China from 19-22 September, 2018. The AI robot will act as an assistant to the guests staying at the hotel and will provide them with all of the required information at their fingertips.

Competitive Analysis: Global Service Robotics Market 

Global service robotics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of service robotics market for global, Europe, North America, Asia-Pacific and South America.

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Major Market Competitors/Players: Global Service Robotics Market 

Few of the major competitors currently working in service robotics market are Parrot Drones SAS; GeckoSystems Intl. Corp.; KUKA AG; DJI; Omron Corporation; Alibaba Group Holding Limited; Lely; Honda Motor Co., Ltd.; Kongsberg Maritime; DeLaval Inc.; iRobot.in; Intuitive Surgical; ECA GROUP; Northrop Grumman Corporation; Aethon; Daifuku Co., Ltd.; Cal-Comp Technology(Philippines), Inc.; General Dynamics Mission Systems, Inc.; Seegrid Corporation; Kollmorgen; Dematic; Knightscope, Inc.; JBT; Smith & Nephew; Murata Machinery, Ltd.; SSI SCHAEFER AG; Grenzebach Group; Stryker; Bastian Solutions, Inc.; Panasonic Corporation; YUJIN ROBOT CO., LTD; SAMSUNG; SoftBank Robotics; Robert Bosch GmbH and ECOVACS.

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