The Global Market for Service Robots is Projected to Reach US$10.8 Billion by 2020
Developments in Mechatronics Drive the Global Service Robotics Market,
According to a New Report by Global Industry Analysts, Inc.
GIA
announces the release of a comprehensive global report on Service Robotics. The global
market for Service
Robots is projected to reach US$10.8
billion by 2020, driven by engineering
breakthroughs and developments in mechatronics.
Service
robots are robots with semi- or fully-autonomous operations, with the ability
to offer services useful for human beings. Unlike industrial robots, service
robots function in close proximity to humans. Service robots of varying
structures and forms find use in a wide range of personal and professional use
applications. Following significant R&D focus, service robots have finally
emerged with significant commercial promise. Robots are increasingly finding
use in homes, offices, hospitals, museums, and other public places. Some of the
commercialized forms of service robots include self-navigating lawn movers,
vacuum cleaners, window washers, and surgical operators. The past few years have
seen considerable growth in the use of service robots in both professional and personal
use applications.
In
the coming years, growth in the service robotics market will be driven by the growth
in the personal use of robots in homes for household applications. A number of
products such as autonomous lawnmowers are beginning to transform this market.
In addition, service robots are now being developed to perform complex and
intricate surgeries, and operate in fields such as agriculture, forestry,
mining, cleaning, construction, demolition, and freight transport. Robots are also
being used in dangerous search and rescue missions. Driven by rapid technology advancements,
future robots will be able to provide assistance to humans in a more intuitive
manner. Technology advances in adaptive behavior will foster use of
entertainment robots such as pet robots. Another promising area of growth for
robots is in providing care for the elderly, particularly those suffering from conditions
such as dementia. Few robots have already been developed for meeting the needs
of patients, including rehabilitation robots, telepresence robots, food delivery robots, and companion robots.
The market for personal use service
robots is reaching a stage where efforts are being made to produce them on a
mass scale. Small and medium enterprises are well positioned to exploit the
advantages of professional service robots in applications such as outdoor and
field operations, autonomous transport, cleaning, logistics, underwater
maintenance and exploration, medical and rehabilitation, and as exoskeletons.
As
stated by the new market research report on Service Robotics, Asia-Pacific
represents the largest and fastest growing regional market, worldwide, with a CAGR
of 13.8% over the analysis period. Characterized by
burgeoning economies such as India and China, increase in disposable incomes,
improving lifestyles and standard of living, and rising consumer affluence,
Asia-Pacific represents a strong market for domestic and entertainment robots.
Increasing R&D investments for new robotics technology, particularly for
use in defense, rescue and security and medical applications, are also benefiting
growth in the region.
Major players covered in the report include Gecko
Systems Corporation, Hanool Robotics Corp., Honda Motors Co. Ltd., Husqvarna, Iberobotics S.L., Intuitive
Surgical Inc., iRobot Corporation, KUKA Aktiengesellschaft, LG Electronics
Inc., RedZone Robotics, RoboBuilder Co. Ltd., ROBOSOFT, SeaRobotics
Corporation, Samsung Electronics Co. Ltd., Toyota Motor Corporation, WowWee
Group Limited, Zucchetti Group, among others.
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