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Global $9 Billion Service Robotics Market and Volume Forecast to 2024 - ResearchAndMarkets.com

November 14, 2018

DUBLIN--(BUSINESS WIRE)--Nov 14, 2018--The “Global Service Robotics Market and Volume Forecast to 2024 - By Type (Professional Service Robots, Personal and Domestic Service Robots) and Key Players Analysis” report has been added to ResearchAndMarkets.com’s offering.

The global service robotics market was valued at over US$ 9 Billion in 2017

Service robots have witnessed widespread acceptance among various professional and personal applications owing to benefits such as enhanced usability, delivery of accurate and high-quality services, reliability, and reduced operational costs and human errors.

Professional service robots are employed in various industries including medical, defense, rescue and security, agriculture, logistics, construction, and professional cleaning among others, whereas personal service robots are used for domestic and entertainment and leisure purpose.

The global service robotics market is expected to almost triple by 2024 from the 2017 level, driven by an upsurge in its adoption owing to high labor cost, lack of skilled workforce, increasing research and development investments, growing awareness regarding the benefits of service robots, and increased demand for automation among professional and personal sectors. However, high initial investment and concern for human safety restricts the growth of the market.

Key Highlights of the Report:

The global service robotics market is expected to almost triple by 2024 from the 2017 level. The global professional service robotics market was valued at close to US$ 7 Billion in 2017. The market for personal and domestic service robotics segment is expected to reach nearly US$ 8 Billion by 2024. The global professional service robotics sales volume is predicted to exceed 450,000 units by 2024. In 2017, logistic application was the major industry vertical, in terms of market share, followed by medical applications. Agriculture/field robots controlled over 14% share of the professional service market in 2017. In volume terms, the logistic robots accounted for maximum share of the overall professional service robotics volume in 2017. The medical robots accounted for single digit share of the professional service robotics volume in 2015, due to expensive nature of these devices. Household robots accounted for maximum share of the personal and domestic service robotics market in 2017. It is anticipated that the entertainment and leisure robot will account for nearly 30% share of the personal and domestic service robotics market by 2024.

Global Service Robotics Market and Volume Forecast - By Type

1. Professional Service Robotics

2. Personal and Domestic Service Robotics

Global Professional Service Robotics Market and Volume Forecast - By Segment

1. Defence

2. Agriculture/Field

3. Logistic

4. Medical

5. Exoskeletons

6. Public Relations Robots

7. Construction

8. Mobile Platforms

9. Inspection

10. Underwater

11. Rescue and Security

12. Cleaning

13. Others

Global Personal and Domestic Service Robotics Market and Volume Forecast - By Segment

1. Household Robotics

2. Entertainment and Leisure Robotics

Global Robotics Market - Key Players Sales and SWOT Analysis

1. KUKA AG

2. Adept Technology (Acquired by OMRON)

3. iRobot Corporation

4. Intuitive Surgical

5. Nachi-Fujikoshi

6. Yaskawa Electric Corporation

For more information about this report visit https://www.researchandmarkets.com/research/tjt7lx/global_9_billion?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20181114005461/en/

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Related Topics:Robotics

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY HARDWARE

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 11/14/2018 07:19 AM/DISC: 11/14/2018 07:19 AM

http://www.businesswire.com/news/home/20181114005461/en

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