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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Service Robotics Market Outlook
The global service robotics market is being driven by the increasing sales of service robots, which reached a value of USD 37.96 billion in the year 2023. The sales of service robots is further anticipated to grow at a CAGR of 23.1% in the forecast period of 2024-2032 to reach USD 245.87 billion by 2032.
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Increasing Demand for Robots in the Healthcare Sector to Bolster the Service Robotics Industry Growth
On the basis of application, service robotics has gained immense popularity in the field of healthcare. Also, vendors in the market offer a wide range of service robots for assistance in various medical applications. The global service robotics industry is further being propelled by the rising investments by the key industry players and their increasing collaborations with the leading healthcare companies. For instance, significant investments were made by Intuitive Surgical Inc, a key industry player, towards improving its surgical systems and enhancing the overall patient experience. Such developments are expected to enhance the demand for service robots in the healthcare industry.
The Asia Pacific to Provide Significant Growth Opportunities to the Service Robotics Industry
Geographically, the Asia Pacific accounts for a significant share in the global service robotics industry and is anticipated to dominate the market in the forecast period as well. Japan, which is a strong robotics solution provider, is likely to enhance its market share and improve its technical expertise in the forecast period. North America and Europe are the other significant regions for the product. This can be attributed to the early adoption of advanced technologies in the regions, which is expected to provide significant opportunities for the market growth in the coming years.
Service Robotics: Market Segmentation
Service robots are technical devices that are designed to assist humans and perform useful tasks. The devices, which are popularly attributed as robots, operate semi or fully-automatically. Service robots are capable of performing dangerous and tedious tasks and provide efficiency and are safe. These robots are utilized in professional and personal applications and are accepted at a global level.
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By product type, the market is divided into:
- Professional Service
- Personal and Domestic Service
- Others
Based on component, the industry can be segmented into:
- Hardware
- Software
Among these, the hardware segment is further divided based on type into airframes, sensors, cameras, actuators, navigation systems, propulsion systems, and power supply, among others.
On the basis of application, the industry can be categorised into:
- Logistics
- Construction and Demolition
- Medical
- Defence, Rescue and Security
- Entertainment, Educational and Personal
- Domestic
- Marine
- Research and Space Exploration
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Demand for Robots in Personal and Professional Sector to Bolster the Growth of the Service Robots Industry
The global service robotics industry is being aided by the increasing innovations in the field of science and technology. The market growth is further propelled by the increasing demand for service robots for professional as well as personal services. The increasing deployment of robots in various industries including healthcare, defence and security, agriculture, forestry, logistics, construction, and personal cleaning, among others is driving the market growth. The market is being aided by the rising labour cost and costly workforce employed in these sectors, coupled with the increasing focus on reducing human error.
The rising technological advancements and growing innovations are likely to accelerate the market growth in the forecast period.
Key Industry Players in the Global Service Robotics Market
The report gives a detailed analysis of the following key players in the global service robotics market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Omron Corporation
- Daifuku Co., Ltd.
- Dematic Holding S.à r.l.
- Intuitive Surgical, Inc.
- Kollmorgen Corporation
- KUKA AG
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Component |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global service robotics market is being driven by the increasing sales of service robots, which reached a value of USD 37.96 billion in the year 2023.
The sales of service robots is anticipated to grow at a CAGR of 23.1% in the forecast period of 2024-2032.
The sales of service robots is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 245.87 billion by 2032.
The major drivers of the market include the increasing sales of service robots, rising urbanisation, and rapid technological advancement.
The increasing innovations in the field of science and technology and the surging demand for robots in the field of defence are the major market trends aiding the market growth.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Professional service and personal and domestic service, among others are the leading product types in the market.
Hardware and software are the various components in the market. Hardware is further segmented into airframes, sensors, cameras, actuators, navigation systems, propulsion systems, and power supply, among others.
Logistics, construction and demolition, medical, defence, rescue and security, entertainment, educational and personal, domestic, marine, and research and space exploration, among others are the leading applications in the market.
The key players in the global service robotics market are Omron Corporation, Daifuku Co., Ltd., Dematic Holding S.à.r.l., Intuitive Surgical, Inc., Kollmorgen Corporation, and KUKA AG, among others.
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