Service Robotics Market Analysis by Type (Professional Service Robots, Personal Service Robots), By Application (Healthcare, Defense and Security, Agriculture, Logistics, Construction, Domestic, Entertainment, Others), By Component (Hardware, Software, Services), By End-User (Residential, Commercial) and by Region: Global Forecast, 2024 - 2034.
- PUBLISHED ON
- 2024-01-11
- NO OF PAGES
- 278
- CATEGORY
- Information Communication & Technology
Market Overview
The Service Robotics market is predicted to
develop at a compound annual growth rate (CAGR) of 17.3% from 2024 to 2034,
when it is projected to reach USD 93.71 Billion, based on an average growth pattern.
The market is estimated to reach a value of USD 19.00 Billion in 2024.
SOURCE: We Market Research
Service robotics
entails creating robots to aid humans in non-industrial situations such as
healthcare, housing, hospitality, and logistics. These robots are used for
medical aid, home chores, customer service, and product delivery. Examples
include surgical robots, robotic vacuum cleaners, hotel service robots, and
warehouse transport robots. They use cutting-edge technology such as AI,
machine learning, and computer vision to interact securely and effectively with
their surroundings and users, improving convenience, efficiency, and safety in
routine chores and specialized services.
The aging population, technical developments in AI and sensors, and labor shortages in industries like healthcare and logistics are the main factors driving the worldwide service robots industry. Automation is pushed for in order to save money and increase efficiency due to rising healthcare prices. Service robots improve productivity and safety in a variety of settings, such as warehouses and hospitals. The market for domestic robots is boosted by consumer desire for smart home appliances. Further driving the market forward is the increased need for automated logistics and delivery solutions brought on by the expansion of e-commerce.
Market Scope
|
Report Attributes |
Description |
|
Market Size in 2024 |
USD 19.00 Billion |
|
Market
Forecast in 2034 |
USD 93.71 Billion |
|
CAGR % 2024-2034 |
17.3% |
|
Base
Year |
2023 |
|
Historic Data |
2016-2022 |
|
Forecast
Period |
2024-2034 |
|
Report USP
|
Production,
Consumption, company share, company heatmap, company production capacity,
growth factors and more |
|
Segments
Covered |
By Type, By
Application, By Component, By End-User and By Region |
|
Regional Scope |
North America,
Europe, APAC, South America and Middle East and Africa |
|
Country
Scope |
U.S.; Canada;
U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia;
China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico;
Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Service Robotics Industry: Dynamics & Restrains
Market opportunity:
We Market
Research: Service Robotics Dashboard
Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.
Service Robotics Segmentation
Market- By Type Analysis
By Type, the Service Robotics Market is Categories into Professional Service Robots, Personal Service Robots. The Professional Service Robots segment accounts for the largest share of around 68% in 2024.
Drivers of professional service robots
include labor shortages, technological advancements, cost efficiency, and
demand for automation in industries such as healthcare, logistics, and
security. These robots enhance productivity, safety, and operational efficiency
in specialized and complex tasks.
The
following segments are part of an in-depth analysis of the global Service
Robotics market:
|
Market
Segments |
|
|
By
Application |
·
Healthcare ·
Defense and Security ·
Agriculture ·
Logistics ·
Construction ·
Domestic ·
Entertainment ·
Others |
|
By
Component |
·
Hardware ·
Software ·
Services |
|
By
End-User |
·
Residential ·
Commercial |
North America Market Forecast
North America dominates the Service Robotics Market with the highest revenue generating market with share of more than 46%. North America’s service robotics market thrives due to the presence of leading technology firms, significant investments in research and development, and high early adoption rates across various sectors. Key drivers include advancements in AI, automation technology, and strong demand in healthcare, logistics, and defense. The region benefits from a mature infrastructure and a culture of innovation that supports widespread deployment of advanced robotics solutions.
Europe Market Statistics
In Europe,
government policies and funding initiatives support the robotics industry,
while a robust industrial base facilitates technological advancements. The
demand for automation is rising in manufacturing, healthcare, and agriculture
sectors. Europe’s focus on regulatory frameworks and innovation encourages
growth, with many companies adopting robotics to enhance productivity and
efficiency. Strong research institutions and collaborative projects also drive
the market forward.
Asia Pacific Market Forecasts
Asia Pacific is
expected to be the fastest-growing regional segment of the Service Robotics
market during the forecast period. Asia-Pacific is experiencing rapid growth in
the service robotics market due to its fast-paced industrialization and rising
labor costs. Countries like China, Japan, and South Korea lead in adopting
robotics across manufacturing, healthcare, and agriculture. The region benefits
from substantial investments in robotics technology and infrastructure, which
drive automation and efficiency improvements. Additionally, the increasing
focus on technological innovation and scaling up industrial capabilities
supports market expansion.
Key Market Players
The Service
Robotics Market is dominated by a few large companies, such as
·
Ricoh
·
Honda Motor Co., Ltd.
·
iRobot Corporation
·
KUKA AG
·
Intuitive Surgical
·
Daifuku Co., Ltd.
·
SoftBank Robotics Group Corp.
·
Aethon
·
Boston Dynamics
·
Fetch Robotics, Inc.
· Others
1.
Global
Service Robotics Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global Service Robotics Market
Scope and Market Estimation
1.2.1. Global Service Robotics Overall
Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023 - 2034)
1.2.2. Global Service Robotics Market
Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2034
1.3. Market Segmentation
1.3.1. Type of Global Service Robotics
Market
1.3.2. Application of Global Service
Robotics Market
1.3.3. Component of Global Service
Robotics Market
1.3.4. End-User of Global Service
Robotics Market
1.3.5. Region of Global Service
Robotics Market
2.
Executive Summary
2.1. Market Dynamics
2.1.1. Drivers
2.1.2. Limitations
2.1.3. Opportunities
2.1.4. Impact Analysis of Drivers and Restraints
2.2. Pricing Trends Analysis &
Average Selling Prices (ASPs)
2.3. Key Mergers & Acquisitions,
Expansions, JVs, Funding / VCs, etc.
2.4. Porter’s Five Forces Analysis
2.4.1. Bargaining Power of Suppliers
2.4.2. Bargaining Power of Buyers
2.4.3. Threat of Substitutes
2.4.4. Threat of New Entrants
2.4.5. Competitive Rivalry
2.5. Market Investment Opportunity
Analysis (Top Investment Pockets), By Segments & By Region
3.
Global Service Robotics Market Estimates & Historical Trend Analysis (2019 -
2023)
4.
Global Service Robotics Market Estimates & Forecast Trend Analysis, by
TYPE
4.1. Global Service Robotics Market
Revenue (US$ Mn) Estimates and Forecasts, by TYPE, 2019 to 2034
4.1.1. Professional Service Robots
4.1.2. Personal Service Robots
5.
Global Service Robotics Market Estimates & Forecast Trend Analysis, by
Application
5.1. Global Service Robotics Market
Revenue (US$ Mn) Estimates and Forecasts, by Application, 2019 to 2034
5.1.1. Healthcare
5.1.2. Defense and Security
5.1.3. Agriculture
5.1.4. Logistics
5.1.5. Construction
5.1.6. Domestic
5.1.7. Entertainment
5.1.8. Others
6.
Global Service Robotics Market Estimates & Forecast Trend Analysis, by
Component
6.1. Global Service Robotics Market
Revenue (US$ Mn) Estimates and Forecasts, by Component,
2019 to 2034
6.1.1. Hardware
6.1.2. Software
6.1.3. Services
7.
Global Service Robotics Market Estimates & Forecast Trend Analysis, by
End-User
7.1. Global Service Robotics Market
Revenue (US$ Mn) Estimates and Forecasts, by End-user,
2019 to 2034
7.1.1. Residential
7.1.2. Commercial
8.
Global Service Robotics Market Estimates & Forecast Trend Analysis,
by region
8.1. Global Service Robotics Market
Revenue (US$ Mn) Estimates and Forecasts, by region, 2019 to 2034
8.1.1. North America
8.1.2. Europe
8.1.3. Asia Pacific
8.1.4. Middle East & Africa
8.1.5. South America
9.
North
America Service Robotics Market: Estimates & Forecast Trend Analysis
9.1.
North
America Service Robotics Market Assessments & Key Findings
9.1.1. North America Service Robotics
Market Introduction
9.1.2. North America Service Robotics
Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
9.1.2.1. By TYPE
9.1.2.2. By Application
9.1.2.3. By Component
9.1.2.4. By End-User
9.1.2.5. By Country
9.1.2.5.1. The U.S.
9.1.2.5.2. Canada
9.1.2.5.3. Mexico
10. Europe Service
Robotics Market: Estimates &
Forecast Trend Analysis
10.1. Europe Service Robotics Market
Assessments & Key Findings
10.1.1. Europe Service Robotics Market
Introduction
10.1.2. Europe Service Robotics Market
Size Estimates and Forecast (US$ Million) (2019 – 2034)
10.1.2.1. By TYPE
10.1.2.2. By Application
10.1.2.3. By Component
10.1.2.4. By End-User
10.1.2.5. By Country
10.1.2.5.1. Germany
10.1.2.5.2. U.K.
10.1.2.5.3. France
10.1.2.5.4. Italy
10.1.2.5.5. Spain
10.1.2.5.6. Russia
10.1.2.5.7. Rest of Europe
11. Asia Pacific Service
Robotics Market: Estimates &
Forecast Trend Analysis
11.1. Asia Pacific Market Assessments
& Key Findings
11.1.1. Asia Pacific Service Robotics
Market Introduction
11.1.2. Asia Pacific Service Robotics
Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
11.1.2.1. By TYPE
11.1.2.2. By Application
11.1.2.3. By Component
11.1.2.4. By End-User
11.1.2.5. By Country
11.1.2.5.1. China
11.1.2.5.2. Japan
11.1.2.5.3. India
11.1.2.5.4. Australia
11.1.2.5.5. South Korea
11.1.2.5.6. ASEAN
11.1.2.5.7. Rest of Asia Pacific
12. Middle East & Africa Service
Robotics Market: Estimates &
Forecast Trend Analysis
12.1. Middle East & Africa Market
Assessments & Key Findings
12.1.1. Middle
East & Africa Service
Robotics Market Introduction
12.1.2. Middle
East & Africa Service
Robotics Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
12.1.2.1. By TYPE
12.1.2.2. By Application
12.1.2.3. By Component
12.1.2.4. By End-User
12.1.2.5. By Country
12.1.2.5.1. U.A.E.
12.1.2.5.2. Saudi Arabia
12.1.2.5.3. Egypt
12.1.2.5.4. South Africa
12.1.2.5.5. Rest of Middle East & Africa
13. South America
Service Robotics Market: Estimates
& Forecast Trend Analysis
13.1. South America Market Assessments
& Key Findings
13.1.1. South America Service Robotics
Market Introduction
13.1.2. South America Service Robotics
Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
13.1.2.1. By TYPE
13.1.2.2. By Application
13.1.2.3. By Component
13.1.2.4. By End-User
13.1.2.5. By Country
13.1.2.5.1. Brazil
13.1.2.5.2. Argentina
13.1.2.5.3. Colombia
13.1.2.5.4. Rest of South America
14. Competition Landscape
14.1. Global Service Robotics Market
Competition Matrix & Benchmarking, by Leading Players / Innovators /
Emerging Players / New Entrants
14.2. Global Service Robotics Market
Competition White Space Analysis, By End-user
14.3. Global Service Robotics Market
Competition Heat Map Analysis, By End-user
14.4. Global Service Robotics Market
Concentration & Company Market Shares (%) Analysis, 2022
15. Company Profiles
15.1.
Ricoh.
15.1.1. Company Overview & Key Stats
15.1.2. Financial Performance & KPIs
15.1.3. Product Portfolio
15.1.4. Business Strategy & Recent
Developments
* Similar details would be provided
for all the players mentioned below
15.2. Honda Motor
Co., Ltd.
15.3. iRobot
Corporation
15.4. KUKA AG
15.5. Intuitive
Surgical
15.6. Daifuku Co.,
Ltd.
15.7. SoftBank
Robotics Group Corp.
15.8. Aethon
15.9. Boston
Dynamics
15.10. Fetch
Robotics, Inc.
15.11. Others
16. Research
Methodology
16.1. External Transportations /
Databases
16.2. Internal Proprietary Database
16.3. Primary Research
16.4. Secondary Research
16.5. Assumptions
16.6. Limitations
16.7. Report FAQs
17. Research
Findings & Conclusion
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
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Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size of Service Robotics Market in 2024?
Service Robotics Market was valued at USD 19.00 Billion in 2024.
What is the growth rate for the Service Robotics Market?
Service Robotics Market size will increase at approximate CAGR of 17.3% during the forecasted period.
Which are the top companies operating within the market?
Major companies operating within the Service Robotics Market Are Ricoh, Honda Motor Co., Ltd., iRobot Corporation , KUKA AG , Intuitive Surgical , Daifuku Co., Ltd. , SoftBank Robotics Group Corp., Aethon , Boston Dynamics , Fetch Robotics, Inc. and Others.
Which region dominates the Service Robotics Market?
North America dominates the market with an active share of 46%.
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