Service Robotics Market Is Projected To Grow At A CAGR Of More Than 20% To Reach USD 23.9 Billion By 2022 | TechSci Research

Global service robotics market stood at $ 7.9 billion in 2016, and is projected to grow at a CAGR of more than 20% to reach $ 23.9 billion by 2022, owing to surging investments and increasing demand for service robotics from defense, logistics and healthcare sectors. Rising acceptance of humanoids, increasing adoption of personal robotics, and growing demand for telepresence & mobile service robotics are among the key factors expected to fuel the global service robotics market during forecast period. Moreover, growing popularity of socially intelligent service robotics and highly advanced technology enabled service robotics is anticipated to result in generation of huge opportunities for global service robotics companies in the coming years.

Years considered for this report:

Historical Years: 2012-2015

Base Year: 2016

Estimated Year: 2017

Forecast Period: 2018–2022

Objective of the Study:

  • To define, classify and forecast the global service robotics market on the basis of operating environment, application, end user, and region.
  • To analyze and forecast the size of global service robotics market in terms of value.
  • To assess the detailed market segmentation and forecast the market size, in terms of value, by segmenting the service robotics market into regions, namely – Europe, North America, Asia-Pacific, Middle East & Africa and South America.
  • To identify the tailwinds and headwinds for the global service robotics market.
  • To evaluate and forecast the market size, in terms of value, for service robotics with respect to end users, including Healthcare, Defense, Field, Logistics, etc.
  • To identify the drivers and challenges for the global service robotics market.
  • To strategically profile leading players in the market which are driving the innovation and technological advancements in the global service robotics market. 

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Some of the major companies operating in the global service robotics market are Intuitive Surgical, Inc., NORTHROP GRUMMAN CORPORATION, SZ DJI Technology Co., Ltd., iRobot Corporation, AeroVironment, Inc., Singapore Technologies Kinetics Ltd, Kongsberg Maritime AS, KUKA Aktiengesellschaft, Lockheed Martin Corporation, The Boeing Company, etc.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service robotics companies across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include the providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service robotics offerings, distribution channels, and presence of all major service robotics companies worldwide.

TechSci Research calculated the market size for service robotics using a bottom-up approach, where data for different components of standard application (end user sectors, such as Healthcare, Defense, Field, Logistics and others) was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, annual reports, press releases, World Bank, Stockholm International Peace Research Institute (SIPRI), International Monetary Fund (IMF), International Federation of Robotics (IFR), etc., were also studied by TechSci Research.

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Key Target Audience:

  • Service Robotics Manufacturers, Equipment Developers, Component Developers, and Software and System Providers
  • Technology Partners
  • Robotics Research Labs and Institutes
  • End users of service robotics such as healthcare, defense, field, logistics and other sectors
  • Research organizations and consulting companies
  • Associations, organizations, forums and alliances related to service robotics

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service robotics manufacturers, distributors and partners, end users, etc. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

Report Scope:

In this report, the global service robotics market has been segmented into the following categories in addition to the industry trends which have also been detailed below:

  • Market, by Operating Environment:
    • Land
    • Aerial
    • Marine
  • Market, by Application:
    • Professional
    • Personal
  • Market, by End User:
    • Healthcare
    • Defense
    • Field
    • Logistics
    • Others
  • Market, by Geography:
    • Europe
  •         United Kingdom
  •          France
  •         Spain
  •          Italy
  •         Rest of Region 
    • North America
  •         United States
  •         Canada
  •          Mexico
    • Asia-Pacific
  •          China
  •          Japan
  •          South Korea
  •          India
  •          Australia
  •          Rest of Region
    • Middle East & Africa
  •         UAE
  •          Saudi Arabia
  •          South Africa
  •          Qatar
  •          Rest of Region
      • South America
  •         UAE
  •          Saudi Arabia
  •          South Africa
  •          Qatar
  •         Rest of Region

Competitive Landscape

Competitive Benchmarking: Benchmarking of the leading players on the basis of application. 

Company Profiles: Detailed analysis of the major companies present in the global service robotics market.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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