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The service robotics market size is forecast to increase by USD 90.41 billion at a CAGR of 30.25% between 2023 and 2028. The market is witnessing significant growth due to the increasing demand for robotic automation processes in various industries. Robots are being increasingly adopted in sectors such as manufacturing, healthcare, hospitality, and retail, among others, to enhance productivity, improve efficiency, and ensure consistency in service delivery. Additionally, governments worldwide are providing support for robotics through funding and incentives, further fueling market growth. However, the high cost associated with purchasing and maintaining robotic systems remains a major challenge for market growth. Despite this, advancements in technology and the increasing affordability and accessibility of robotic systems, including household robots, are expected to drive market growth in the coming years.
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The market is experiencing significant growth due to the increasing adoption of IoT technology in various industries. AI researchers are developing advanced service robots to address challenges in healthcare, such as reducing hospital-acquired infections (HAIs). Regulations are being put in place to ensure the safety and effectiveness of these robots during critical operations. User interfaces are becoming more intuitive, with natural language processing and voice recognition technology enabling easier interaction. Drones, including aerial drones and professional UAVs, are being integrated into the market for applications like aerial photogrammetry and 3D data collection. The global population growth and food demand are driving the use of agricultural robots in farming.
Moreover, the Department of Transportation is investing in autonomous drones for infrastructure inspections, while others are enabling seamless connectivity for these robots. However, challenges such as inaccurate results and regulatory compliance remain. Government funding from organizations like the European Space Agency is fueling innovation in professional robots and inspection robots for industries like construction, manufacturing, and mining. The future of service robotics lies in the integration of advanced technologies like AI, IoT, and 5G connectivity to enhance their capabilities and efficiency.
The service robotics market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The professional robots segment is estimated to witness significant growth during the forecast period. The market is experiencing significant advancements, driven by the integration of IoT technology and artificial intelligence (AI) in professional robots. In healthcare, the reduction of hospital-acquired infections (HAIs) is a top priority, leading AI researchers to develop autonomous delivery robots for medication and supplies. Regulations are being established to ensure user interfaces are intuitive and safe for uncontrolled environments. Drones, equipped with Wi-Fi, super Wi-Fi, and natural language processing, are revolutionizing industries such as aerial photogrammetry, surveying and mapping, photography, filmmaking, and food delivery. Navigation and motion planning technologies enable these robots to operate in critical operations, including stairs and construction sites.
Moreover, government funding from organizations like the European Space Agency is fueling the development of professional robots, including humanoid robots, exoskeletons, agricultural robots, and inspection robots. The emergence of 5G telecom services and advanced AI processors is expected to further increase the demand for these robots in various industries over the forecast period.
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The professional robots segment was valued at USD 9.75 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 40% to the growth of the global service robotics market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market is experiencing significant growth due to various factors. The aging population and labor shortages in several industries are driving the demand for domestic robots and industrial automation. Curriculums focusing on robotics and artificial intelligence are being developed to address the skills gap. Immigration laws and free trade agreements may impact the availability of human labor, further increasing the adoption of robots. Space exploration initiatives are also leading to advancements in robotics technology. IoT-based devices and automation are revolutionizing transportation and logistics, offering cost savings and increased efficiency. Industrial robots are being integrated into manufacturing processes to enhance productivity and reduce errors. Overall, the market is poised for continued expansion, driven by technological advancements and evolving business needs.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing demand for robotic automation processes is the key driver of service robotics market growth. The market is experiencing significant growth due to the integration of IoT technology and artificial intelligence (AI) in various industries. In healthcare, AI researchers are developing robots to combat hospital-acquired infections (HAIs) by disinfecting surfaces and monitoring patients. Regulations are driving the adoption of user-friendly interfaces for autonomous delivery robots navigating uncontrolled environments, such as hospitals and universities. Drones equipped with Wi-Fi, Whizpace, and Super Wi-Fi capabilities are being used for aerial photogrammetry, surveying and mapping, photography, filmmaking, and food delivery. Professional UAVs are also used for inspection tasks in critical operations, such as construction sites and power plants. Service robots, including humanoid robots, exoskeletons, and construction robots, are being funded by government agencies like the European Space Agency for 3D data collection and analysis.
Moreover, agricultural robots and inspection robots are also gaining popularity in the market. Despite advancements, challenges remain, such as ensuring accurate results in uncontrolled environments and navigating stairs. Nuro, a leading autonomous delivery robot company, is collaborating with the Department of Transportation to develop motion plans for safe and efficient delivery. Natural language processing is being integrated into service robots to improve user interaction. The global population's increasing food demand and the need for efficient inspections are driving the growth of the market.
Government support for robotics is the upcoming trend in the service robotics market. The market is experiencing significant growth due to the integration of advanced technologies such as IoT, AI, and 5G. In healthcare, robotics are being used to reduce hospital-acquired infections (HAIs) through autonomous delivery robots and AI researchers developing navigation and motion planning systems. Regulations are being put in place to ensure user interfaces are intuitive and safe for uncontrolled environments. Drones, equipped with Wi-Fi, Super Wi-Fi, and natural language processing, are used for aerial photogrammetry, surveying and mapping, photography, filmmaking, and food delivery. Government funding from organizations such as the European Space Agency and the Department of Transportation is driving innovation in professional UAVs and service robots.
Moreover, in agriculture, inspection robots, humanoid robots, exoskeletons, and construction robots are being used to increase efficiency and productivity. Regulations and safety standards are crucial in critical operations, including stairs and autonomous delivery robots, to ensure accurate results and minimize risks.
The high cost associated with robotic systems is a key challenge affecting service robotics market growth. The market is experiencing significant growth due to the integration of advanced technologies such as IoT, AI, and natural language processing. In healthcare, service robots are being used to reduce hospital-acquired infections (HAIs) and improve patient care. However, regulations and user interfaces remain key challenges. Autonomous delivery robots, such as those developed by Nuro, are being used for critical operations in uncontrolled environments, utilizing motion planning and navigation systems. Drones, including aerial drones and professional UAVs, are being employed for applications like aerial photogrammetry, surveying and mapping, photography, filmmaking, and 3D data collection. Government funding from organizations like the European Space Agency is driving innovation in professional robots, including humanoid robots, exoskeletons, construction robots, and inspection robots.
Moreover, despite these advancements, cost remains a significant barrier to adoption, particularly in emerging economies where consumers are hesitant to purchase expensive service robots. Companies continue to invest in R&D to integrate advanced technologies, leading to the launch of new and advanced models, but this increases the cost of robots, potentially limiting their accessibility to middle-class consumers in developing countries.
The service robotics market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the service robotics market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
YUJIN ROBOT Co. Ltd. - The company develops, manufactures, supplies, and distributes intelligence-type service robots. The company's key offerings include service robotics.
The service robotics market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The service robotics market is experiencing significant growth due to the integration of IoT technology and AI in various applications. One of the key areas of focus is in healthcare, where robots are being used to reduce hospital-acquired infections (HAIs). AI researchers are developing advanced navigation systems and motion planning algorithms to help robots operate in uncontrolled environments, such as hospitals and stairs. Delivery robots are revolutionizing the logistics industry by providing efficient and contactless delivery solutions. Autonomous delivery robots use AI for navigation and natural language processing to interact with users. In the construction industry, robots are being used for inspections and heavy lifting tasks.
Moreover, exoskeletons and humanoid robots are being developed to assist workers in critical operations, improving safety and productivity. Regulations are a key consideration in the market. For instance, the Department of Transportation is working on regulations for the use of drones in delivery and inspection applications. User interfaces are also a critical component of service robots, with companies developing advanced communication systems using Wi-Fi and aerial drones for applications such as aerial photogrammetry, surveying and mapping, food demand analysis, and photography in industries like agriculture, filmmaking, and government funding from organizations like the European Space Agency. However, challenges remain, such as ensuring inaccurate results from sensors and cameras, and the ability of robots to operate in complex environments. With continued research and development, these challenges are being addressed, driving the growth of the market.
Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 30.25% |
Market growth 2024-2028 |
USD 90.41 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
22.79 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 40% |
Key countries |
US, China, Japan, Germany, and South Korea |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Electrolux group, AMP Robotics Corp., Blue Ocean Robotics, Cyberdyne Inc., Daifuku Co. Ltd., Diligent Robotics Inc., Exyn Technologies, Guangzhou XAG Co. Ltd., Harvest CROO Robotics LLC, Intuitive Surgical Inc., Irobot Corp., Kongsberg Gruppen ASA, Northrop Grumman Corp., Samsung Electronics Co. Ltd., Singapore Technologies Engineering Ltd., SoftBank Group Corp., Starship Technologies Inc., SZ DJI Technology Co. Ltd., Tetra Laval SA, and YUJIN ROBOT Co. Ltd. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our service robotics market forecast report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Environment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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