Increase in investment in research and development, rapid industrialization and increase in demand for service robots in defense and security are the major drivers which are driving the service robotics market.
Albany, NY -- (SBWIRE) -- 10/20/2016 -- Service robots are the robots that perform multiple tasks such as automatic floor mopping, dishwashing, lawn mowing and many more for humans apart from the industrial application. These are the fully autonomous systems that have the ability to carry out the services with or without human assistance. They are used in industries and for domestic purpose assisting human in performing duties which are repetitive and difficult for humans to perform. Moreover they are used to perform tasks that are repetitive, dangerous, dull and dirty. The service robotics is segmented into professional and service robots. The professional robots are used for commercial purpose whereas personal robots are used for domestic uses.
Increasing demand for service robots in defense is one of the important factors driving the service robotics market. Use of service robots in defense is likely to decrease the number of death casualties during war. Most used service robots in defense are unmanned aerial vehicles, and unmanned ground vehicles. Additionally, rapid industrialization is also acting as an important driver in this market. Service robots works faster than humans thus, reducing the work time and increases work efficiency. They are used to lift heavy parts, welding of automobiles, helps in painting and many more in industries. The service robotics market is also driven by the increasing investment in research and development. The service robots are used in carrying out various complex tasks that are difficult for humans to carry out in the research labs.
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The service robotics market in this report has been segmented geographically into four regions: North America, Europe, Asia-Pacific and Rest of the World. Moreover, the market is segmented on the basis of product type which includes professional and personal service robots. The professional robots held the largest market size of 66.1% growing at a CAGR of 18.6% during the forecast period from 2015 to 2021. Further, the market is segmented by applications types which include defense, agriculture, health care, logistics, aerospace, infrastructure, entertainment, research and development and others which include underwater service robots, rescue service robots, service robots used in forestry and many more. The defense application segment is growing at a CAGR of 17.2% during the forecast period and held the largest market size.
North America held the largest market size for service robotics market. The market in North America is growing at a CAGR of 17.9% during the forecast period. One of the important drivers of this market is the increasing use of service robots in defense sectors. Moreover, in North America professional service robots held the largest market share in 2014 In addition, the defense sector held the largest market share of 15.6% followed by health care segment in 2014. However, high cost associated with development is acting as one of the major restraint in this market. Asia Pacific is the fastest growing market and the growth can be attributed to the growing economies in the region such as China, India, Japan, South Korea and Australia among others.
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Major industry participants include AB Electrolux (Sweden), Touch bionics Ltd (U.K)., iRobot Corporation (U.S), Samsung Techwin Co. Ltd. (South Korea), Robert Bosch GmbH (Germany), Mako Surgical Corporation (U.S), Intuitive surgical Inc.(U.S), Honda Motors Co. Ltd. (Japan), Panasonic Corporation (Japan)and Dyson Ltd. (U.K) among others.
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