The service robotics market is expected to reach $19.41 Billion by 2020 at a CAGR of 21.5% from 2014 to 2020.
Service robotics deals with the development of robotic technology that assists human beings in various personal and professional tasks. These robots help in reducing physical workloads and intervene in hazardous or life-critical environments. Robots that are used for personal tasks can educate, assist, or entertain at home. They largely perform/assist in daily chores, extend home security, and also serve as companions or pets for entertainment.
The industry will witness a blend of leading industrial robotics manufacturers who will benefit from technology gains in the new high growth sectors, as well as cutting edge service robotics companies that combine the latest robotics technology with practical uses primarily at home and in the defense, service, and medical industries.
The service robotics technology will play a very important role in the life of elderly and disabled persons. It will help and assist them to undertake day to day activities that normal people can do. Due to this, the service robotics technology is projected to find a very wide application in the medical and healthcare device segment.
The report includes the segmentation of the geography market for service robotics into four major regions: The Americas, Europe, Japan, Asia-Pacific, and Rest of the World. The Americas covers countries such as United States, Canada, Mexico, Brazil, and others. The report talks about the Porter's five force analysis of the service robotics market as well as the industry analysis along with the value chain and supply chain analysis. It includes the most recent happenings in the market under the ‘winning imperatives' and ‘burning issues' section and also describes the driving and restraining factors for the service robotics industry.
Major players in the service robotics market include: Intuitive Surgical Inc. (U.S.), iRobot Corporation (U.S.), Honda Motors Co. Ltd. (Japan), Google Inc. (U.S.), and MAKO Surgical Corporation (U.S.).
This research report categorizes the service robotics market, based on various applications and geography; it also covers the forecast revenue from 2013 to 2020.
Service robots are categorized into two types of robots based on their application areas, namely professional service robots and personal service robots. Application areas of the professional service robots are defense, rescue, security, agriculture, forestry, aerospace, medical, and infrastructure, among others.
Personal service robots are used in the domestic, entertainment, personal security, and education applications.
The geographic analysis covers The Americas, Europe, Asia-Pacific, and Rest of the World (RoW).
The report also identifies the drivers, restraints, opportunities, current market trends, winning imperatives, and burning issues for the service robotics market.
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