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Global & China Service Robot Industry Report 2018-2022 - Global Market is Expected to Soar to $20.7 Billion by 2022 - ResearchAndMarkets.com

July 13, 2018

DUBLIN--(BUSINESS WIRE)--Jul 13, 2018--The “Global and China Service Robot Industry Report, 2018-2022” report has been added to ResearchAndMarkets.com’s offering.

In 2017, the global service robot market size reached approximately USD8.3 billion, up 13.6% from a year earlier, and the scale is expected to keep a growth rate of about 20% in the upcoming years and soar to USD20.7 billion in 2022 in the wake of the growing mature technologies like artificial intelligence and human-machine interaction as well as the expedited aging of population and the robust demand for medical care and education.

China is a country where service robot enjoys broad prospects, with its market size reporting USD1.32 billion or so and sharing 15.9% of global total in 2017. Being incentivized by policies, service robot embrace huge market potentials and vast development space in China and its market will be worth USD4.9 billion in 2022.

In 2017, dedicated service robots made most sales contribution and swept 62.8% of global market. To be specific, medical service robot as one of the mainstream dedicated service robots in the world had the market size of USD1.83 billion or 35% of the global dedicated service robot market in 2017, and its market is anticipated to reach USD4.28 billion in 2022.

Logistics robot witnessed the highest growth rate in terms of sales among the dedicated service robots in 2017 and its sales soared by 45.7% year on year and reached 37,000 units. As the intelligent logistics is developing by leaps and bounds and such new logistics equipment mushroom as unmanned warehouse, UAV and smart delivery robot, the logistics robot market will continue rapid growth momentum and its sales will hit 116,000 units till 2022.

As far as personal/home service robots are concerned, the cleaning robot market maintained rapid growth in 2017 and the sales reported USD2 billion with a year-on-year upsurge of 24.9%. Irobot and Ecovacs, which are the two largest producers of cleaning robot around the globe, held a combined market share of 73% in 2017. Being bullish about the market, firms like Xiaomi and Haier have forayed into the field of cleaning robot successively and seized some market shares. For example, Xiaomi launched MIJIA sweeping robot in 2016, and Haier rolled out T550 sweeping robot in 2017.

Companies Featured

iRobot Jibo Knightscope Savioke SoftBank Robotics Holdings Corp (SBRH) Fmart Ecovacs Siasun Robot & Automation Hangzhou GreatStar Industrial Canny Elevator Shanghai Xiaoi Robot Technology Co., Ltd. Minleo UBTECH ZEBOT PartnerX Intuitive Surgical, Inc. ReWalk Robotics Ltd. Harbin Boshi Automation Co., Ltd. Midea Group Co., Ltd. Truking Technology Limited (300358) Guangdong Jinming Machinery Co., Ltd. Chongqing Dima Industry Co., Ltd. Xuzhou Handler Special Vehicle Co., Ltd. Beijing TINAVI Medical Technology Co., Ltd.

For more information about this report visit https://www.researchandmarkets.com/research/7jwrpr/global_and_china?w=4

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SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 07/13/2018 01:58 PM/DISC: 07/13/2018 01:58 PM

http://www.businesswire.com/news/home/20180713005417/en

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