This “Service Robotics Market” report provides a detailed study on market and how it is impacting the industry. The report includes details of emerging trends, growth history, sales channel, manufacturers profiled in business, market share of product, application and regional scope of industry. In addition, the report also mentions opportunities that manufacturers operating in the global Service Robotics market can use for expanding their business in untapped market to increase their customer base.
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Service Robotics Market Covers Manufacturers:
Scope of the Report:
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Key Market Trends:
Professional Use of Robots to Account for a Crucial Share in the Market
– Professional robots consist of field robots, defense and security robots, medical assisting robots (MAR), UAV drones, public assistant robots, electrical industry robots, and robots for construction purposes.
– The construction industry has adopted service robots to overcome challenges like heavy labor cost, labor shortage, and labor accidents. It also helps in constructing more reliable buildings since there is less chance of human errors. Technologies like, 3D printing robots and demolition robots are further acts as a catalyst in the adoption of robots in the construction sector.
– Exoskeleton robots are used as public relation robots. Most public relation robots are used to assist customers in finding an item or completing a task. These robots are being deployed in the retail sector, to guide customers around a store, as well as in the hospitality industry, in banks, shopping malls, family entertainment centers, and more.
– The medical and healthcare industry uses services robots as diagnostic systems, robot-assisted surgery or therapy, rehabilitation systems, and other medical robots.
Asia-Pacific to Register a Significant Growth Rate Over the Forecast Period
– Asia-Pacific is one of the fastest growing regions across the world. It also holds the largest market over the forecast period, owing to the significant adoption of service robots in China, Japan, and India, among others.
– Regional governments are also a major factor for the development of a regional robotics market. For instance, India plans to invest in military robotics, and the country is preparing for deploying advanced robotic soldier by 2023. Also, a New Delhi-based company is building robots for the Indian Army.
– The Chinese government has ambitious plans for the country’s robotics industry. The government has listed the robotics industry, along with AI and automation, as one of the priority sectors for high-end development, to push forward the transformation and up gradation of the manufacturing industry. This push is expected to raise the global market share of Chinese-made robots.
– Further, financial services companies in Asia are looking to streamline costs to boost dividends to shareholders, maintain profitability, and have a new tool at their disposal that also appeals to customers, e.g. service robots. For instance, HDFC, one of the largest Indian private banks, is looking to unveil a service robot, which will assist customers with everyday tasks, like transferring or withdrawing money or just finding the relevant department to get their task done. The robot is expected to be a part of the bank’s Project AI program.
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Target Audience of Service Robotics Market:
- Manufacturer / Potential Investors
- Traders, Distributors, Wholesalers, Retailers, Importers and Exporters.
- Association and government bodies.
Key Reasons to Service Robotics Market Report:
- Analyzing various perspectives of the Service Robotics market with the help of Porter’s five forces analysis
- The End User that is expected to dominate the Service Robotics market is analyzed in detail
- The regions which are expected to witness fastest growth during the forecast period are analyzed and estimated for growth of Service Robotics market.
- Identify the latest developments, market shares and strategies employed by the major market players.
- Regional analysis of Service Robotics market studied, during the forecast period
- The segments that are expected to dominate the Service Robotics market studied.
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