Global Service Robotics Market

As service robots are in greater proximity to humans, the technology involves more safety concerns over human-machine interaction. However, developments in the manufacture of intelligent and safer robots are expected to soon address the issues of safety, manipulation, and sensing. Thus, leading robotics companies have begun preparing for the day when every home will have a robot.

The stakeholders of the market will be benefited by key opportunities identified and analyzed in the report. Also, the key players, their developments and strategies have been analyzed and explained in the report.

Market estimates and forecasts

The report provides in-depth market estimates and forecast for the following global service robotics market:

Service Robotics by functions: Professional service Robots, Personal service robots, Field robots, Inspection and Maintenance robots, Construction and Demolition robots, Logistic system robots, Medical robots, Defense, Security and Surveillance robots, underwater robots, Domestic robots, Entertainment robots, Handicap assistance robots and Home Security and Surveillance robots.

What makes our reports unique?

• We provide 10% customization. Normally it is seen that clients do not find specific market intelligence that they are looking for. Our customization will ensure that you necessarily get the market intelligence you are looking for and we get a loyal customer.
• We conduct detailed market positioning, product positioning and competitive positioning. Entry strategies, gaps and opportunities are identified for all the stakeholders.
• No single report by any other publisher provides market data for all the segments viz products, services, applications, ingredients, technology, and stakeholders in single report for all the four geographies - US, Europe, APAC, ROW.
• Comprehensive market analysis for the following sectors: Pharmaceuticals, Medical Devices, Biotechnology, Semiconductor and Electronics, Energy and Power Supplies, Food and Beverages, Chemicals, Advanced Materials, Industrial Automation, and Telecom and IT. We also analyze retailers and super-retailers, technology providers, and research and development (R&D) companies.

Key questions answered

• Which are the high-growth segments/cash cows and how is the market segmented in terms of market directed specialty chemicals?
• What are market estimates and forecasts; which markets are doing well and which are not?
• Where are the gaps and opportunities; what is driving the market?
• Which are the key playing fields? Which are the winning edge imperatives?
• How is the competitive outlook; who are the main players in each of the segments; what are the key selling products; what are their strategic directives, operational strengths and product pipelines? Who is doing what?

Powerful Research and analysis

The analysts working with MarketsandMarkets come from renowned publishers and market research firms, globally, adding their expertise and domain understanding. We get the facts from over 22,000 news and information sources, a huge database of key industry participants and draw on our relationships with more than 900 market research companies across the world. We, at MarketsandMarkets, are inspired to help our clients grow by providing qualitative business insights with our huge market intelligence repository.

Please click here to get the updated version of Service Robotics Market (Professional and Personal), by Application (Defense, Agriculture, Medical, Domestic & Entertainment), & by Geography - Analysis Forecast (2014 - 2020)

The global service robotics market is growing at an exponential rate. It is estimated that by 2014, service robots will account for almost 70% of the entire robotics market. Almost 56.7% of the entertainment robotics market is covered by Asia, while Europe is mainly focused on covering personal robotics market. U.S. has invested most of its resources for the development of military and medical robots.

In 2009, the entire service robotics market covered under the report is estimated to be approximately $10 billion and is expected to grow by 16.1% to reach $21 billion by 2014. Professional service robotics market is estimated to constitute $8.43 billion in 2009, which is about 84.6% of the entire market.

The most important trend in robotics market witnessed in the recent times has been a shift of researchers and manufacturers focus from industrial robots to service robots. The use of service robots in various applications in different industry has opened up new opportunities in the service robotics market. Service robots are being preferred over humans for dull, dirty and dangerous jobs.

The major factors driving the growth of the service robotics market are:

• Increasing aging population
• Shrinking labor market for dull and dangerous jobs
• Value enhancement by robots to suppliers and customers
• Advancement in robotic technology with continuous research and investment.

The factors that hinder the growth of the service robotics market are:

• Safety for humans
• Limited ability of robots to work in unstructured environment
• Limited ability of robots to work in network of robots, sensors and users.

Major opportunities for the service robotics market

• Untapped market of developing economies
• Labor shortage
• Application of robots in diverse industries

The major segments in the service robotics market include personal service robots and professional service robots. the personal service robotics market includes domestic robots, entertainment and education robot, home security and surveillance robots and handicap assistance robots. the professional service robotics market include field robots, inspection and maintenance robots, medical robots, defense, rescue and security robots, underwater robots, construction and demolition robots and logistic robots.
 
The market for service robots is estimated to reach $21 billion by 2014. Most of the growth potential lies in the field of personal robots, defense, rescue and security robots and medical robots. The market has seen an exponential growth since 2002 however there was fall in 2009 due to the global crisis.