The Global Service Robotics Market was $16.2 Bn in 2020, and it is expected to reach $69.1 Bn by 2031. It is eventually growing at a commendable high compound annual growth rate CAGR of 13.6% between 2021-2031. But due to the current COVID-19 pandemic, there might be a slight difference in the growth rate in the present year. The growth of this market is mainly because of the need to combat the increased costs of labor in many developed nations along with the increased need for assisted living are the main reason that will help to accelerate the growth of this market during the forecasted period. as these will help to perform those tasks that are risky or difficult. Besides this, everyday tasks can also be handled very easily with accuracy with the help of these computer-controlled devices.
Global Service Robotics Market Is Estimated To Witness Remarkable Growth
Source: SAI Research
The Global Service Robotics Market has been segmented into Type, Component, Environment, Application, Region. By Type – Professional, Personal & Domestic. By Environment – Aerial, Ground, Marine. By Component – Hardware, Software. By Application – Domestic, Medical, Field, Defense, Rescue and Security, Entertainment, Educational, Personal, Public Relations, Inspection and Maintenance, Logistics, Marine. The hardware component dominates the market because of its innovative designs that are needed on the hardware side.
By Region, Europe Is Holding The Major Market Share
The Global Service Robotics Market has been geographically segmented into North America, Asia Pacific, South America, Middle East, and Africa region. in addition to this Europe Global Service Robotics Market is holding the largest market share at present and is estimated to witness high compound annual growth rate in the upcoming forecasted period. this is mainly because of the high demand for personal and professional robots. Besides this Europe has the largest presence of manufacturers because of the increased demand from various sectors.
Major Players In Global Service Robotics Market
Some of the key players in the Global Service Robotics Market include iRobot, SoftBank Robotics Group, Intuitive Surgical, DeLaval, Daifuku, CYBERDYNE, DJI, Kongsberg Maritime, Northrop Grumman, Neato Robotics, Parrot SA, KUKA AG, Aethon Inc.
The Global Service Robotics Market Has Been Segmented Into:
Global Service Robotics Market, By Type
Global Service Robotics Market, By Environment
Global Service Robotics Market, By Component
Global Service Robotics Market, By Application
Global Service Robotics Market, By Geography