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Service Robotics Market - Global Industry Analysis, Growth and Forecast, 2013-2019

Transparency Market Research Report Added "Service Robotics Market" to its database.


Albany, NY -- (SBWIRE) -- 03/13/2015 -- Service robotics is a technology used for developing robots that assist or replace human beings in carrying out personal or professional tasks. These robots are designed in a manner that reduces human effort. They are also meant to be used as intervening machines in life-threatening conditions. Today, robots can be seen performing tasks in workplaces, domestic environments, doing daily chores, and being a part of security solutions in many cases.

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The global service robotics market has been growing at an unparalleled rate as the world tries to solve the problem of rising labor costs with the help of automation. This market is expected to enjoy an accelerated growth due to the unique ability of the service robotics technology to perform tasks that are risky or at the very least too difficult for humans. Additionally, service robots can also perform everyday tasks seamlessly and effortlessly with simple computer-controlled devices. However, designers need to adhere to the highest safety standards while making these machines as they are in close proximity to humans.

Industrial Use Boosts Growth of Global Service Robotics Market

The expansion and growth of the global service robotics market will also be supported by companies that are opting for automation technologies to improvise their processes to compete for a bigger market share. Some of the important components used in service robotics technology are microcontrollers, power supply, sensors, actuators, and manipulators. With technological advancements and innovative approaches the global service robotics market is expected to deliver improved robots to several industries. In addition to the aforementioned areas of growth, the global service robotics market will also grow in medical applications, including appliances, in surgery, in search and rescue operations, and in other fields such as forestry, agriculture, mining, cleaning, freight transport, construction, mining, and demolition.

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Ageing Population Leading to Demand for Service Robotics

Besides the industrial use of service robotics, this market will also witness growth in the healthcare sector. The need for assistance amongst the ageing population in carrying out regular tasks in a natural and intuitive manner is expected to drive the global service robotics market to new heights. Additionally, deployment of service robotics technology in mobile technology and other smart devices is also expected to complement the growth of this market. Generous funding from investors, supportive government regulations and grants, and technological advancements supporting service robotics are likely to have a positive impact on the global demand for the service robotics market.

The growing usage of service robotics in the automotive industry is also expected to instigate a strong market growth of the global service robotics market. Despite such strong market drivers, engineers and designers are faced with the challenge of designing absolutely safe machines that offer smooth interactions.

Asia Pacific to Lead Global Service Robotics Market

Geographically, the global service robotics market is divided into North America, Asia Pacific, Europe, and Rest of the World. Out of these, Asia Pacific is expected to lead the global service robotics market due to tremendous development in regions such as Japan and South Korea. This growth will also be supported by the emerging economies of countries such as China and India, which are home to gigantic production houses and manufacturing bases. North America will follow this growth closely thanks to a rise in industrialization, recovering economy, and expansion of production capacities. Additionally, the automotive industry in North America will also provide a spur to the growth of the global service robotics market.

Some of the key players in the global service robotics market are Toyota Motor Corp., Honda Motors Co. Ltd., Samsung Electronics, iRobot Corp., Fujitsu Ltd., Sony Corp., GeckoSystems Intl. Corp., AB Electrolux, Yujin Robot Co. Ltd., and Hanool Robotics Corp.

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