DUBLIN--(BUSINESS WIRE)--The "Global Service Robotics Market (Impact of COVID-19) and Volume Analysis by Type (Professional Service Robots, Personal and Domestic Service Robots) and Key Players Analysis - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global service robotics market was valued at over US$ 17 billion in 2019 and is expected to show significant growth during the forecast period, driven by an upsurge in its adoption owing to high labor cost, lack of skilled workforce, increasing research and development investments, growing awareness regarding the benefits of service robots, and increased demand for automation among professional and personal sectors.
Service robots have witnessed widespread acceptance among various professional and personal applications owing to benefits such as enhanced usability, delivery of accurate and high-quality services, reliability, and reduced operational costs and human errors.
Professional service robots are employed in various industries including medical, defense, agriculture, logistics, inspection and maintenance, rescue and security, construction, and professional cleaning among others, whereas personal service robots are used for domestic and entertainment and leisure purpose.
The high initial investment and concern for human safety restricts the growth of the market.
Impact of COVID-19 on Service Robotics Market
The COVID-19 outbreak has become a global stress test. As the number of people infected with the virus continues to rise around the world, uncertainties about global economic growth increases. The COVID-19 disease has infected more than 1.8 Million people worldwide, with United States accounting for around 30% of cases. Globally the death toll has surpassed 110,860, according to the latest statistics from the Worldometers (as of April 12, 2020). The number is still growing, and the duration of the pandemic is still difficult to predict.
The novel coronavirus has increased interest in robots, drones, and artificial intelligence. These technologies can help deal with massive staffing shortages in healthcare, manufacturing, and supply chains; the need for social distancing; and diagnosis and treatment. For example, service robotics play a vital role in healthcare, they minimize human intervention at all levels, starting from patient examination to patient care and drug delivery mechanism. The virus has been a good opportunity for companies to display robots for public applications. Public Relations, Rescue and Security, Inspection, Cleaning, Monitoring, and Detection are all key aspects of containing the pandemic. Disinfection robot UVD for example has been in high demand since the outbreak of COVID-19 pandemic.
Global Professional Service Robotics Market and Volume Forecast - By Segment
The logistic applications accounted for maximum share of the global professional service robotics market. The use of service robots in logistic industry is anticipated to show substantial growth. The growing e-commerce industry is the primary growth driver for this market. In 2019, medical application was the second major industry vertical, in terms of market share. Medical application employs service robots for a wide range of applications such as surgery, diagnostics, physical and mental therapy, and prosthetics among others. Defence robotics captured third highest share of the professional service robotics market in 2019, followed by Agriculture robots or Agribots. The implementation of robotics in agriculture is expected to bring out transformational result in coming years.
In volume terms, the logistic robots accounted for maximum share of the overall professional service robotics volume. Inspection and maintenance robots captured second highest share of the professional service robots sales volume in 2019. The medical robots accounted for merely 2% share of the professional service robotics volume in 2019, due to expensive nature of these devices.
Global Personal and Domestic Service Robotics Market and Volume Forecast - By Segment
Household robots accounted for maximum share of the personal and domestic service robotics market both in value and volume terms. This segment is likely to lead the personal and domestic service robotics volume throughout the forecasting period. The household robotics market consists of a wide variety of products focused on single tasks, such as floor care, lawn care, and pool care. While, entertainment and leisure robots are aimed at youth in the hopes of boosting their interest in robotics and other technical fields.
This report has been analyzed from 11 viewpoints:
1. Global Service Robotics Market and Forecast (2009 - 2025)
2. Impact of Coronavirus (COVID-19) Pandemic on Service Robotics Market
3. Global Service Robotics Volume and Forecast (2009 - 2025)
4. Global Service Robotics Market Share and Forecast (2009 - 2025)
5. Global Service Robotics Volume Share and Forecast (2009 - 2025)
6. Global Professional Service Robotics Market and Forecast - By Segment (2009 - 2025)
7. Global Professional Service Robotics Volume and Forecast - By Segment (2009 - 2025)
8. Global Personal and Domestic Service Robotics Market and Forecast - By Segment (2009 - 2025)
9. Global Personal and Domestic Service Robotics Volume and Forecast - By Segment (2009 - 2025)
10. Key Players - Sales and SWOT Analysis (2010 - 2025)
11. Global Service Robotics Market - Growth Drivers and Challenges
Global Service Robotics Market and Volume Forecast - By Type
1. Professional Service Robotics
2. Personal and Domestic Service Robotics
Global Professional Service Robotics Market and Volume Forecast - By Segment
1. Defence
2. Agriculture/Field
3. Logistic
4. Medical
5. Exoskeletons
6. Public Relations Robots
7. Construction
8. Mobile Platforms
9. Inspection and Maintenance
10. Underwater
11. Rescue and Security
12. Cleaning
13. Others
Global Personal and Domestic Service Robotics Market and Volume Forecast - By Segment
1. Household Robotics
2. Entertainment and Leisure Robotics
Global Robotics Market - Key Players Sales and SWOT Analysis
1. KUKA AG
2. Adept Technology (Acquired by OMRON)
3. iRobot Corporation
4. Intuitive Surgical
5. Nachi-Fujikoshi
6. Yaskawa Electric Corporation
For more information about this report visit https://www.researchandmarkets.com/r/92693z
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