Written by The service robotics market has been experiencing significant growth, driven by the increasing adoption of service robots across various industries. In 2023, the global sales of service robots reached a value of USD 37.96 billion, and this trend is set to continue with an anticipated CAGR of 23.1% during the forecast period of 2024-2032, reaching USD 245.87 billion by 2032. This surge in the market reflects the rapid evolution of automation technology and its impact on businesses and consumers alike. In this blog post, we will explore the service robotics market’s overview, size, trends, growth factors, analysis, forecast, and the competitive landscape.
Service Robotics Market Overview
The service robotics market refers to robots designed for non-industrial tasks, providing solutions across various sectors such as healthcare, logistics, hospitality, agriculture, and more. Unlike industrial robots, which are primarily used in manufacturing, service robots are designed to interact with humans and assist in daily tasks.
Service robots are typically classified into two broad categories: professional service robots (used in industries like healthcare, logistics, and defence) and personal service robots (which assist with tasks like cleaning, delivery, and entertainment). The market’s rapid expansion is largely attributed to technological advancements, automation adoption, and the growing need for efficiency in multiple sectors.
Service Robotics Market Size
The service robotics market was valued at USD 37.96 billion in 2023, demonstrating strong demand for robots across various industries. With service robots becoming an integral part of business operations, the market is set to grow substantially over the next decade. By 2032, the market size is expected to reach USD 245.87 billion, representing a compound annual growth rate (CAGR) of 23.1% from 2024 to 2032.
The major contributing factors to this growth include the increasing reliance on automation to address labour shortages, improve operational efficiency, and enhance customer experience. Additionally, as technology continues to improve, the affordability and accessibility of service robots are expected to increase, thereby expanding their adoption across businesses of all sizes.
Service Robotics Market Trends
Several key trends are currently shaping the service robotics market:
Healthcare Robots: The healthcare industry is increasingly adopting robots for surgery, rehabilitation, and care assistance. Robots like Intuitive Surgical’s da Vinci Surgical System are revolutionising the way surgeries are performed, offering greater precision and fewer complications.
Autonomous Mobile Robots (AMRs): AMRs are gaining traction in industries like logistics and warehousing, helping to automate material handling, goods transportation, and delivery tasks. These robots are equipped with advanced sensors and AI technologies to navigate autonomously and improve operational efficiency.
AI Integration: Artificial intelligence (AI) is playing a significant role in the advancement of service robotics. Robots equipped with AI capabilities can now learn from their environment, adapt to new tasks, and make intelligent decisions, enhancing their utility across various industries.
Robots in Hospitality: The use of robots in the hospitality sector is increasing, with robots being used for tasks such as room service delivery, customer service, and cleaning. This trend is expected to continue as the demand for contactless service solutions grows.
Smart Manufacturing Market Segmentation
Components
Hardware
Software
Services
Technologies
Programmable Logic Controller
Supervisory Controller and Data Acquisition (SCADA)
Enterprise Resource and Planning
Human Machine Interface
Product Lifecycle Management
Manufacturing Execution System
Distributed Control System
3D Printing
Others
End Use
Automotive
Aerospace and Defence
Chemicals and Materials
Healthcare
Food and Beverage
Oil and Gas
Others
Regions
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
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Service Robotics Market Growth
The service robotics market is experiencing significant growth, and several factors contribute to this upward trend:
Technological Advancements: As robotics technology improves, robots are becoming more efficient, capable, and affordable. Enhanced sensors, AI algorithms, and better mobility are making robots more useful in a wide range of applications.
Cost Reduction: As the production of service robots scales, their costs are expected to decrease, making them accessible to a broader market. This cost reduction is expected to drive more widespread adoption in sectors like retail, healthcare, and hospitality.
Labour Shortages: The global shortage of skilled labour in certain industries is pushing businesses to turn to robots for support. Service robots help bridge the gap by automating mundane and repetitive tasks, allowing human workers to focus on more complex jobs.
Consumer Acceptance: The acceptance of robots among consumers is growing. Many people now view robots as beneficial tools that enhance their daily lives, especially in the areas of healthcare, domestic chores, and entertainment.
Service Robotics Market Forecast
The service robotics market is expected to grow at a CAGR of 23.1% during the forecast period of 2024 to 2032. By 2032, the market is anticipated to reach USD 245.87 billion. Key factors driving this growth include advancements in AI and machine learning, the increasing need for automation in various industries, and a greater emphasis on robotics in the healthcare and logistics sectors.
The market’s growth is further supported by the increasing investments in research and development by major companies, as well as the continued interest in robotics as a tool for solving labour shortages and enhancing operational efficiency.
Competitor Analysis
Omron Corporation: Omron is a leader in the development of industrial automation, including service robots for healthcare, logistics, and manufacturing.
Intuitive Surgical, Inc.: Intuitive Surgical is a global leader in robotic-assisted surgery, offering products like the da Vinci Surgical System that are transforming healthcare.
Kollmorgen Corporation: Kollmorgen offers a range of robotics solutions, including autonomous mobile robots and advanced motion control systems for service robots.
KUKA AG: KUKA is another major player in the robotics industry, providing service robots for a range of applications, including healthcare, logistics, and industrial automation.
Others: Other players in the service robotics market include Boston Dynamics, iRobot Corporation, SoftBank Robotics, and ABB Ltd., all of which are contributing to the development of robots in healthcare, logistics, and other service sectors.
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