The
increasing investment in R&D activities is presently driving the
global service robotics market extensively. The rising demand for
service robots from the defense industry around the world has
contributed to the growth of this global market.
According
to a market study, recently published by Transparency Market Research
(TMR), the global service robotics market stood at US$5.57 bn in
2014. Aided by the rapid industrialization in the global arena, the
market is likely to report a CAGR of 18.80% during the period from
2015 to 2021 and reach a value of US$22.5 bn by the end of
2021.Service robots are employed in various industries for welding,
packaging, painting, and lifting heavy objects as they work faster
than humans, reducing work time and increasing efficiency.
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Full Global Service Robotics Market Report With Complete TOC @
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Professional
Robots and Defense Industry to Retain Leading Positions in Respective
Areas
The
markets for professional and personal service robots are the two
major segments of the global service robotics products market. Among
the two, the professional robots market occupied the topmost position
with a share of 66.10% in the global market. Analysts projects this
market segment to witness further development at a CAGR of 18.60%
during the period of 2015-2021 on account of sturdy rise in
industrialization and automation across the globe.
Defense,
healthcare, agriculture, logistics, infrastructure, aerospace,
entertainment, and research and development are the key application
areas for service robots. The defense industry emerged as the biggest
end user for service robots in 2014 and was closely followed by the
healthcare market, where the defense sector accounted for a market
share of 17.80% and the healthcare industry held 14.10% share of the
overall industry.The demand for service robots from defense industry
is likely to maintain its pace at a CAGR of 17.20% between 2015 and
2021, retaining the leadership of this industry.
North
America to Maintain Leadership among Regional Markets
North
America, Asia Pacific, Europe, and the Rest of the World are the key
regional markets for service robotics. Among these, North America led
the global service robotics market in 2014.
This
regional market is projected to expand at a CAGR of 17.90% during the
period from 2015 to 2021 on account of the increasing usage of
service robots in the North America defense industry. Though analysts
project the service robotics market in North America to maintain its
leadership, high cost incurred in the deployment of these service
robots is likely to hamper the hindrance-free growth of the market to
an extent.
The
service robotics market in Asia Pacific is expected to exhibit the
fastest growth among all the regional markets over the next few
years. The rising demand for service robots from developing economies
in Asia Pacific such as India, China, Japan, Australia, and South
Korea is expected to drive the service robotics market in this
region.
Global
Service Robotics Market: Leading Players
Robert
Bosch GmbH, Honda Motors Co. Ltd., Dyson Ltd., Intuitive Surgical
Inc., Touch Bionics Ltd., Samsung techwin Co. Ltd., AB Electrolux,
Panasonic Corp., iRobot Corp., and Mako Surgical Corp. are the major
players operating in the global service robot market.
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About
Us
Transparency
Market Research (TMR) is a global market intelligence company
providing business information reports and services. The company’s
exclusive blend of quantitative forecasting and trend analysis
provides forward-looking insight for thousands of decision makers.
TMR’s experienced team of analysts, researchers, and consultants
use proprietary data sources and various tools and techniques to
gather and analyze information.
TMR’s
data repository is continuously updated and revised by a team of
research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
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material for business reports.
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