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Service Robotics Market Size
Service Robotics Market size was valued at USD 42.8 billion in 2022 and is anticipated to grow at a CAGR of over 25% between 2023 and 2032. The rapid investment in robotics has fueled the demand for service robotics. The increased demand for a better & efficient product delivery service has further increased with the advent of online shopping along with customer inclination toward buying products through an online source.
Retailers are exploring the use of robots to enhance the shopping experience. These robots can help customers find products, provide information, and even handle transactions. By incorporating robotics, retailers aim to create unique & engaging in-store experiences. Industries, such as manufacturing, energy, and infrastructure, are adopting service robots for maintenance & inspection tasks in challenging environments. Robots equipped with sensors & cameras can perform inspections of equipment, pipelines, and structures in hazardous or hard-to-reach locations.
| Report Attributes | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 42.8 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 25% |
| 2032 Value Projection: | USD 425 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 250 |
| Tables, Charts & Figures: | 369 |
| Segments covered: | Component, Robots, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Service robotics is a specialized field of robotics that focuses on designing, developing, and deploying autonomous or semi-autonomous robots to perform tasks and provide various services to humans. These robots are designed to assist and enhance human activities in diverse industries including healthcare, hospitality, logistics, and agriculture.
The shortage of qualified personnel will pose challenges for industries seeking to adopt robotic solutions. Companies may need to invest in training or compete to attract skilled technicians, thereby adding to the operational cost and leading to potential delays in reaping the benefits of automation. The integration of service robots into the existing production workflows can be a complex process. Skilled & expert professionals are required to ensure that robots work seamlessly with other machinery along with coordinating tasks and following the desired sequence. Experienced technicians, who can navigate intricate programming languages & interfaces, are needed to program robots to perform specific tasks effectively & safely.
COVID-19 Impact
The COVID-19 pandemic impacted several markets including the service robotics market in 2020. Despite the increased interest in robots for tasks such as disinfection and healthcare assistance, there were notable negative effects. Supply chain disruptions hampered production, resulting in delays and increased costs. Reduced economic activity and budget constraints in various sectors led to decreased investment in service robotics. Additionally, travel restrictions limited the deployment of robots in some international markets. Overall, while the pandemic highlighted the potential of service robotics, it also presented significant challenges, particularly in terms of operational and financial disruptions.
Service Robotics Market Trends
The service robotics industry is experiencing several prominent trends including a rising demand for robots in healthcare, assisting with tasks such as patient care and surgery. The use of service robots in logistics and warehousing for tasks such as automated material handling is increasing, and the hospitality sector is adopting service robots for customer service & cleaning. Moreover, agriculture is also benefiting from robotics in precision farming and harvesting. Humanoid robots and social robots are gaining traction by offering companionship & customer service. As technology progresses, more innovative applications of service robotics across various industries are expected to improve efficiency and convenience.
Service Robotics Market Analysis
Based on professional robots, the service robotics market is segmented into defense, medical, transportation & logistics, field, hospitality, professional cleaning, robots for public environment. The medical segment held a market revenue of over USD 10 billion in 2022. It is expected to grow at a lucrative pace by 2032. Medical robots assist with patient care, surgery, diagnostics, and the transportation of medical supplies. These robots can assist patients with exercises, gait training, and therapeutic activities. Advancements in this field include wearable robotic exoskeletons, personalized therapy plans based on patient data, and gamification elements to enhance patient engagement. These robots can perform minimally invasive surgeries with smaller incisions, reducing patient trauma & recovery time. They are designed to navigate challenging environments and provide support in critical situations. Diagnostic robots equipped with advanced sensors & imaging technologies can assist medical professionals in gathering patient data, such as measuring vital signs, capturing images & analyzing data in real-time, for diagnostic purposes.
Based on the components, the service robotics market is divided into robots and peripheral. The robots segment held a market revenue of over USD 30 billion in 2022 and is expected to witness a CAGR of over 20% from 2023 to 2032. Robots include professional and personal robots that growing due to various factors. On the professional front, industries including healthcare and logistics increasingly rely on robots to perform specialized tasks, enhance efficiency, and reduce operational costs. The rise of personal service robots is driven by consumer desire for convenience and automation in daily life. These robots can help with household chores as well as provide companionship for the elderly, and even education & entertainment. Advancements in artificial intelligence, natural language processing, and computer vision have made personal service robots more capable & user-friendly, contributing to their growth. Growth in both professional and personal service robotics is a result of technological advancements and the increasing recognition of robots as valuable tools for improving productivity & quality of life.
North America held a significant service robotics market share of over 34% in 2022. North America, particularly the U.S., is a hub for technological innovation and has a robust ecosystem of research institutions & tech companies focusing on robotics development. These factors foster innovation and drive the growth of service robotics. The growing aging population in North America is increasing the demand for healthcare and elderly care services. Service robots, such as robotic caregivers & medical assistants, are being developed to address these needs and the logistics & e-commerce sectors are expanding rapidly, requiring automation for order fulfillment and last-mile delivery. Service robots play a crucial role in improving operational efficiency and meeting consumer demands. North American companies are investing in robotics to remain competitive globally, further boosting the regional market during the forecast period.
Service Robotics Market Share
Major companies operating in the service robotics market are
- ABB Ltd.
- Aethon
- Daifuku
- DeLaval International AB
- DJI
- ECA Group
- HONDA MOTOR CO., LTD.
- Intuitive Surgical
- iRobot Corporation Inc.
- Kongsberg Maritime
- KUKA AG
- Lely
- Neato Robotics Inc
- Panasonic Corporation
- Parrot SA
- Stryker Corporation
- SoftBank Robotics Holdings
- Yujin Robot
The competitive landscape is characterized by continuous innovation as companies strive to improve their offerings with new technologies, integrations, and partnerships.
Service Robotics Industry News
- In March 2023, Stryker launched Mako Total Knee 2.0 at the AAOS 2023 Annual Meeting in Las Vegas. Mako Total Knee 2.0 is designed to deliver reliable outcomes to surgeons with a new, elevated user experience. Mako Total Knee 2.0 also introduces a new intuitive design, customizable workflow, and other key features including an innovative digital tensioner that allows surgeons to assess the stability of the knee intraoperatively during a Total Knee Arthroplasty (TKA) without the need for additional instrumentation.
The service robotics market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) and volume (Thousand Units) from 2018 to 2032, for the following segments:
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By Component
- Robots
- Peripherals
By Robots
- Professional
- Defense
- Medical
- Transportation & logistics
- Field
- Hospitality
- Professional cleaning
- Robots for public environment
- Personal
- Household
- Entertainment
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Kore
- ANZ
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- MEA
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
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