| Status : Published | Published On : Mar, 2024 | Report Code : VRICT5158 | Industry : ICT & Media | Available Format :
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Page : 215 |
Global Service Robotics Market – Analysis and Forecast (2025-2030)
Industry Insights by Type (Professional Service Robots and Personal Service Robots), Component (Hardware and Software), Application (Domestic, Medical, Field, Defense, Rescue, & Security, Entertainment, Education, & Personal, Public Relations, Inspection and Maintenance, Logistics, Construction, Marine, and Others), and Geography (U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World)
Industry Overview
The global service robotics market size will grow from USD 36.5 billion in 2023 to USD 125 billion by 2030, registering a CAGR of 24.7% during the forecast period.
Service robots refer to semi or fully autonomous robots. They help humans perform crucial tasks without needing industrial and manufacturing automation applications. The rise in the adoption of such robots in novel applications offers higher ROI and productivity since the processes are streamlined. It also helps in enhancing workplace safety.
The rising research and development activities on robots drive the growth of the industry along with the increased demand for automation across several industry verticals like healthcare, automotive, e-commerce, and food & beverages.
Moreover, healthcare centers today have to abide by specific regulations to combat SARS-CoV-2 which is why there is an increased adoption of these systems in this specific sector to help perform crucial tasks such as sanitization, disinfection, contactless delivery of medicines and food.
Also, there is a higher adoption of robots for companionship and disability assistance for elderlies. These robots can perform at a high level due to higher endurance and a wider range of operational capabilities. The technological advancements and integration of swarm intelligence allow them to perform repetitive and complex tasks easily and most efficiently, enhancing the growth opportunities of the global service robotics market.
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The COVID-19 outbreak will hasten the adoption of service robots for tasks including disinfection, sanitization, contactless delivery, and the delivery of food and medications. Additionally, robots are playing an important role, especially in the healthcare sector to combat SARS-CoV-2.
Market Segmentation
Insight by Type
According to the type, the global service robotics market is divided into professional service robots and personal service robots.
Out of these two segments, the professional service robot segment is expected to grow significantly during the forecast period because they save time, reduce chances of human errors, and do repetitive tasks most efficiently. These robots can even perform intellectual functions and dangerous jobs which makes them a useful tool across different sectors including armed forces, modern warfare, the agriculture sector, automated milking, and drones to spray pesticides, and fungicides. In the defense sectors, the adoption of these robots has lowered human casualties significantly.
There are also several types of robots such as cleaning robots, vacuuming robots, assistive robots for elder care, lawn-mowing robots, entertainment and leisure robots, and education and training robots in the personal service robot segment. They can perform mundane, repetitive, and hazardous tasks when employed and automated, leaving humans to do other intellectual tasks.
With such beneficial features, these robots have a high growth potential in the US, Europe, and ASEAN countries.
Insight by Component
Based on components, the global service robotics market is divided into hardware and software, where the former is further divided into airframes, sensors, cameras, actuators, power supply and control systems, navigation systems, propulsion systems, and more. The hardware segment is expected to grow more and a faster rate during the forecast due to the growing demand for new designs. The integration of sensor and control units in hardware is also the result of the growing adoption of service robots across several industries.
So, there is an increase in the demand for low-cost sensors in several developing markets and in orders from commercial companies wanting to enhance their productivity. This boosts the growth of the hardware segment in this industry.
Insight by Application
Based on application, the global service robotics market is divided into domestic, medical, field, defense, rescue, security, entertainment, education, personal, inspection and maintenance, logistics, construction, marine, and more. Each of these segments can be divided further into several subheads. The domestic segment is subdivided into floor cleaning, pool cleaning, lawn mowing, assistive robots, home security, surveillance robots, and others. The medical segment is subdivided into surgical robots, rehabilitation robots, diagnostic robots, emergency response robots, disability assistance, prosthetics/exoskeletons, and more.
The field robotics segment includes harvest management, field farming, dairy and livestock management, agriculture robots, forestry robots, space robots, and others. The defense, rescue, and security segment is divided further into Unmanned Aerial Vehicles (UAVs), Unmanned Ground Vehicles (UGVs), firefighting and disaster management robots, demining robots, border security and surveillance, and more. The entertainment, educational, and personal segment is divided further into toy robots, education & research robots, and robotic companions. The inspection and maintenance segment is subdivided into pipeline inspection, power plant inspection, energized transmission lines inspection, and more. The logistics segment is divided further into factory logistics robots, outdoor logistics robots, cargo handling robots, mail sorting robots, and others.
The construction robots segment is divided further into excavator robots, bulldozer robots, demolition robots, welding robots, material handling robots, and more. The subcategories of marine robots include oceanography, environmental protection and monitoring, archaeological exploration, and others. The domestic robots segment is expected to grow at a higher CAGR during the forecast period due to their cost-effectiveness, increased adoption, and economies of scale manufacturing. Moreover, the working population and elderly citizens do now want to do household chores. This also facilitates the market growth.
On the other hand, the logistics sector dominates the industry due to higher automation in specific tasks like handling, transporting, sorting, packaging, moving, and storing goods. Medical service robots will also grow significantly during the forecast period due to higher adoption in specific surgeries and therapies along with the development of better rehab systems and high-tech testing facilities.
The growing number of residential and commercial projects in both developed and developing countries will propel the growth of the adoption of service robots in the construction industry.
Global Service Robotics Market Report Coverage
|
Report Metric |
Details |
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Historical Period |
2018 - 2023 |
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Base Year Considered |
2024 |
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Forecast Period |
2025 - 2030 |
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Market Size in 2023 |
U.S.D. 36.5 Billion |
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Revenue Forecast in 2030 |
U.S.D. 125 Billion |
|
Growth Rate |
24.7% |
|
Segments Covered in the Report |
By Type, By Component, and By Application |
|
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
|
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and Rest of the World |
Industry Dynamics
Industry Trends
There is a rapid proliferation of these robots due to their higher capabilities and efficiency, thanks to the integration of advanced technologies such as AI, ML, adaptive computing, and vision systems.
Furthermore, there is also an increase in the adoption of mobile technology and other smart devices, higher funds & grants by the government, and venture capital investments in research and development activities, all of which are expected to have a positive impact on the global service robotics market. Realtors are using teleoperating robots allowing prospective clients to see properties from the comfort of their own homes. As a result, these robots are a game-changer and their adoption will grow significantly in the forecast period.
Growth Drivers
Technological Development in Automation will progress the growth of service robotics
The growth of the global service robotics market is mainly attributed to the significant advancements in technology in automation. Moreover, the high labor cost and shortage of skilled labor, higher demand for automation in the personal and professional sectors, and growing awareness about the benefits offered by the service robots will also drive the growth of this market.
Higher efficiency and accuracy in performing repetitive tasks will also help the service robots market to grow just as the use of IoT technology in robots, which will make them more cost-effective.
Apart from that the growing need for predictive maintenance and innovation will also propel the global service robotics market growth during the forecast period.
Challenges
Massive capital investment required for service robotics
Higher capital investment requirements to procure, integrate, program, accessorize, and operate will restrain the growth of the global service robotics market. The maintenance cost of these robots is also very high. Therefore, it is hard for small and medium businesses to use them. Add to that, the production is in low volume and the ROI is also slow, which doubles their hardship.
Then there are other concerns, such as the possibility of job loss after implementation of these robots, data secrecy issues, strict guidelines, possibilities of incorrect operation, and results in critical situations, which may also hinder the growth of the global service robotics market.
Opportunities
However, the opportunity for growth of the global service robotics market is enhanced due to the growing safety concerns, use of smartphones, and expansion in developing economies.
Increased implementation and commercial applications for cleaning, delivery, and security also create significant growth opportunities, especially when insurance companies are progressively covering robotics surgery and medical exoskeletons, creating new opportunities for the global service robotics market to grow during the forecast period.
Geographic Overview
North America contributes the largest market share in the global service robotics market as they are the early adopters of developed technologies along with a surge in investment and increased adoption of robotics in the defense sector. Furthermore, the increased per-capita income, continuous research programs, rising geriatric population, and shortage of workforce owing to strict immigration laws will propel the growth in the region.
APAC is anticipated to grow at a faster pace in the service robotics market because of the thriving automotive industry post COVID-19 crisis. The emergence of a manufacturing and industrial base in developing countries will boost demand for service robotics in emerging economies. In the foreseeable period, Japan will grow its market share and technological knowledge as one of the strongest robotics solution providers.
Competitive Insight
North America has the largest market share in the global service robotics market being the early adopters of such advanced technologies. There is also a growth in the investment and adoption of robotics in the defense sector. Apart from that the higher per-capita income, ongoing research programs, growing geriatric population, and shortage of labor due to strict immigration laws also facilitate the growth of the global service robotics market in this region.
On the other hand, the global service robotics market in the APAC region will also grow at a fast rate during the forecast period due to the booming automotive industry, the emergence of industrial and manufacturing bases, and higher technological knowledge of countries like Japan.
Some of the industry players operating the service robotics idustry include IRobot Corporation, Honda Motor Company, Ltd., Intuitive Surgical, Inc., GeckoSystems Intl. Corp., Daifuku Co., Ltd., SZ DJI Technology Co., Ltd., Neato Robotics, YUZIN ROBOT Co., Ltd., Samsung Electronics Co., Ltd., and LG Electronics Inc.
Recent Developments by Key Players
LG invests USD 60 million in Bear Robotics a silicon valley-based service robot startup as robot OS war intensifies to nurture robotics as one of its key growth drivers. LG will become the single largest shareholder of Bear Robotics with this investment.
Samsung Welstory and Rainbow Robotics will develop high-tech solutions for the industry. South Korean food and beverage company Samsung Welstory Inc. is forming a robotic process automation (RPA) ecosystem in the food service sector.
The Service Robotics Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
- By Type
- Professional Service Robots
- Personal service Robots
- By Component
- Hardware
- Software
- By Application
- Domestic
- Medical
- Field
- Defense, Rescue, & Security
- Entertainment, Education & Personal
- Inspection and Maintenance
- Logistics
- Construction
- Marine
- Others
Region Covered in the Report
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
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Service Robotics Market