Service Robotics Market Share

Service Robotics Market Share

The service robotics industry is highly competitive. Intuitve Surgical, ABB and Ecovacs are the top 3 companies accounting for a significant share of 37.7% in the market.  The players in this market compete with one another through technology advancements, price differentiation, and geographical expansion. Intensification of competition will be seen by the rising demand for AI-driven automation, autonomous navigation, and increasing adoption across healthcare, logistics, and domestic applications.
 

Companies are investing heavily in R&D for developing AI-enabled service robots that will have greater efficiency, enhanced safety, and improved human-machine interaction. Moreover, the integration of AI with the latest technologies, including 5G, edge computing, and machine learning, further intensifies the competition while making innovation the only differentiator. Partnerships and mergers & acquisitions are some of the common strategies adopted by major players to gain market share and remain competitive. Prominent players are forming strategic alliances to co-develop cost-effective robotic solutions to meet the needs of different industries.
 

Service Robotics Market Companies

List of prominent players operating in the service robotics industry include:

• Intuitve Surgical
• ABB
• Ecovacs
• Kuka
• Fanuc
• Kawasaki
   

Intuitive Surgical is one of the foremost players of medical service robotics and is best known for its da Vinci Surgical System which allows robots to aid surgeons in performing minimally invasive procedures. The company invests in automation, AI, real-time data insights, and precision control to improve the quality of the surgery. For instance, March 2024, Intuitive announced the acquisition of 510(k) clearance from the United States Food and Drug Administration (FDA) for its company’s next generation multiport robotic system, da Vinci 5. Continuing with the company’s innovation legacy, da Vinci 5 improves on precision, ergonomics, and automation da Vinci 5 also has features that make it more beneficial to minimally invasive surgical operations.
 

ABB is one of the leading firms in industrial and service robotics and sells AI-enabled cobots (collaborative robots) and automation equipment for healthcare, logistics, and retail. The company places a great deal of capital into autonomous mobile robots (AMRs) and AI-powered robotic assistants for better productivity and human-robot interaction. For instance, in May 2022, ABB Robotics introduced ABB Robotic Depalletize, a solution designed to tackle multi-stage depalletizing tasks in logistics, e-commerce, healthcare and consumer packaged goods markets. The vision sensor data is processed by the ABB Robotic Depalletize software, enabling the robot to receive the correct grasping point for each box.