The Global Service Robotics market is estimated to escalate from $6.25 billion in 2014 to a whopping $21.23 billion in 2020 with a CAGR of 22.6%. Service Robots are the types of robots which are either semi or fully autonomous. They can help humans perform various tasks; however, they exclude operations in manufacturing. The fully autonomous robots can take their own decisions in real time and in unpredictable environments to perform specific tasks. Service robots help in accomplishing for tasks, which are dangerous, dull, dirty or dumb. In 2013, 21,000 units of professional robots were sold globally which recorded as a 4% increase from the previous year.
Service robots are used in various domains such as defence, healthcare, agriculture, construction, underwater systems etc. The continuous research and development going in this field is helping the service robot to be used in various domains. The two most important sectors are defence and healthcare. In professional use of service robots, defence sector accounts for more than 40% of the market. Both unmanned and manned robots are used. The unmanned robots are generally used for dangerous activities like bomb defusing. In healthcare, the use of robotics has increased in the last decade phenomenally. They are being used during operations as well as taking care of patients.
Major companies in the market include Bosch, Panasonic, Honda, Samsung, Sony, Toyota; Google etc. are pushing for more applications of the service robotics in the market. This report presents an exhaustive study of the strategies adopted by these companies. Additionally, the geographies where the industry finds its profitable market shares are also discussed at length, in this report. In addition, the market trends are analyzed and estimates are provided for the analysis period of 2014-2020. Further, the various applications of Service Robotics find a lot of room in this exhaustive report, covering a comprehensive overview of the market.
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TABLE OF CONTENT
1.1 Research Methodology
1.2 Executive Summary
2. KEY FINDINGS OF THE STUDY
3. MARKET OVERVIEW
3.1 Market Segmentation
3.3 Industry Value Chain Analysis
3.4 Industry Attractiveness - Porter's 5 Force Analysis
4. MARKET DYNAMICS
4.2.1 Increasing adoption by transport and healthcare industry
4.2.2 New trends in wearable electronics
4.2.3 Focus towards fitness
4.3.1 Price is high as compared to conventional facrics
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