USD 30.69 Billion
Report ID:
SQMIG45J2161 |
Region:
Global |
Published Date: June, 2024
Pages:
197
|Tables:
135
|Figures:
77
Service Robotics Market size was valued at USD 30.69 Billion in 2023 and is poised to grow from USD 35.78 Billion in 2024 to USD 156.99 Billion by 2032, growing at a CAGR of 16.60% during the forecast period (2025-2032).
A variety of important factors which are transforming the market for service robotics. An emerging aspect in the healthcare sector now is increasing robotization. These days, service robotics are deployed within hospitals and clinics for surgical workings, medication distribution, and patient care. Orders for service robotics in the medical industry have increased dramatically since the latest COVID-19 outbreaks, which have made contactless care an urgent necessity. As more technological advancements are being incorporated into healthcare to enhance patient outcomes and operational efficiency, this trend is only likely to continue. Further automation of logistics and warehouse management is a logical step in an e-commerce market where speed is crucial.
Numerous fields, including inventory control, order fulfilment, and even last-mile delivery are seeing the adoption of robotics. As online shopping gains popularity, businesses are investing heavily in order processing robots to handle the influx of orders. Logistics is being completely transformed by this trend, and robots are more important than ever to fill positions in this fiercely competitive and chaotic marketplace. Cobots are replacing humans in manufacturing. Cobot is very different from previous generations of industrial robots that only worked alone as it operates right close to people. In addition to having stronger safety regulations than its predecessors, it also boasts a more collaborative workplace.
US Service Robotics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
USD 30.69 Billion
Largest Segment
Professional Service Robotics
Fastest Growth
Personal Service Robotics
Growth Rate
16.60% CAGR
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Global Service Robotics Market is segmented based on Type, Application, Component, and Region. Based on Component, the market is further sub-segmented into Hardware and Software. Based on Type, the market is further sub-segmented into Professional and Personal. Based on Application, the market is further sub-segmented into Domestic and Industrial. Based on Region, North America, Europe, Latin America, Asia-Pacific, Middle East and Africa.
As per categorization by type, the market is classified as professional service robotics and personal service robotics. Among these, professional service robotics earned the largest share and continue to hold the dominant global service robotics market share. Professional service robotics are revolutionizing industries through automating complex tasks in healthcare, logistics, agriculture, and defense. These robots now carry out such tasks with unprecedented efficiency and flexibility, enabled by the innovations found in very advanced AI and machine learning and highly accurate sensor technology. Their predominance in the global service robotics market is due to an increasing demand for specialized solutions that can include surgical robots, warehouse automation, and drones for inspection. In addition, severe labor shortages, high operating costs, and the thrust towards achieving high productivity have further consolidated the position of service robotics as essential tools across different sectors.
Personal service robotics is set to be the fastest-growing segment in the global service robotics market due to rising consumer interest in automation for convenience, safety, and entertainment. AI and IoT innovations are already enabling robots to do more domestic tasks, provide elder-care, and improve lifestyle experience. Most robots are getting cheaper, better at natural language processing, and computer vision. All such conditions are important factors behind increased usage adoption due to the rising aged population across the world, along with the desire for personalized assistance solutions. Personal robots can be placed in the homes of people as increasing deployment of smart homes and connected devices continues. Thus, making it much easier for everyday use and enhancing personal relevance with everyday life.
Medical is dominating in the global service robotics market and is experiencing rapid innovation, driven by advancements in AI, machine learning, and robotics. In sustained surgical robots, diagnostic assistants, and rehabilitation devices, the precision, reduction of errors, and better patient outcomes are reached. The demands for health care are increasing with a growing aging population, coupled with the need for less invasive procedures. Robots do repetitive work, streamline hospital workflows, and assist in remote patient handling. Robotics-enhanced telemedicine and the rising investments in healthcare automation will further bolster medical applications as a major factor in the service robotics market, meeting paramount challenges in modern healthcare delivery.
Transportation and logistics are poised to be the fastest-growing segment in the global service robotics market due to the increasing demand for automation in supply chains and e-commerce fulfillment. Service robotics revolutionize the entire inventory management, order picking, and last-mile delivery processes with efficient and exact robotics such as autonomous mobile robots and drones. Faster logistics costing less coupled with shortage of labor fuel the adoption. Innovations in computer vision, AI, and real-time data analytics enable robots to navigate and adapt dynamically in environments. Businesses seeking scalability and seamless operations will incorporate robotics into transportation and logistics and certainly achieve exponential growth in this application segment.
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North America dominates the global service robotics market due to its strong technological infrastructure, robust funding for R&D, and widespread adoption of advanced automation across industries. Regionally concentrated within cities are the top robotics companies in addition to some innovative research institutions driving innovation in AI, machine learning, and sensor technology. Robotics increase demand in areas like healthcare, logistics, and defense, thereby accelerating development. Although government bodies encourage it with guidelines, venture capital firms also front up investments, while early adopters test cutting-edge technologies. North America thus emerges as a forerunner, having a skilled workforce whereas their established manufacturing base allows deployment speedily making them the global leader in service robotics.
Europe is the fastest-growing region in the global service robotics market due to its strong emphasis on industrial automation, technological innovation, and sustainability. This region focus is found mainly in healthcare robotics, agricultural automation, and logistics which in turn increase investments and tap into markets. Societal supportive policies such as European Union funding programs for AI and robotics research. Growing societal demand for precision agriculture, elder care solutions, and efficient supply chains will further accelerate the adoption of robotics. The samenwerking of research institutions and industries put Europe in the position of the leading continent in developing and deploying service robotics, with a vibrant startup ecosystem in Europe.
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Service Robotics Market Drivers
Advancements in AI and Machine Learning
The global service robotics market growth will continue to be driven by the convergence of artificial intelligence and machine learning. This will allow robots to carry out very sophisticated actions with great accuracy, adapt to different conditions, and work entirely autonomously. Such improved capabilities as natural language processing, computer vision, and predictive analytics have all unlocked additional applications in the fields of health care, logistics, and industrial domains.
Rising Labor Shortages and Cost Pressures
Industries are looking to service robotics in response to the growing labour shortage, along with increasing costs of operation. Robots can be effective when performing numerous monotonous and labor-intensive tasks that would require a relatively long time to be performed by a human worker. Logistics, healthcare, and agriculture are extremely high in demand for automating processes within these industry applications, as automation increases productivity, scalability, and reduces costs, indicating a global growth in the market.
Service Robotics Market Restraints
Regulatory and Safety Concerns
Strict regulatory requirements and safety issues restrict growth in the service robotics market. Ensuring safety, data privacy, and ethical standards compliance is often an obstacle to the deployment of robots. There are complicated approval procedures within industries, for instance in healthcare and defense, which tend to further delay the deployment and add operational hurdles for manufacturers.
Limited Battery and Power Efficiency
Most service robots suffer from performance constraints in terms of battery capacity and power systems. Long standby time and high energy efficiency are needed by robots working in dynamic environments like logistics and agriculture. The current limitations of energy storage technologies will most probably restrict the operational range and capabilities of such robots, delaying their acceptance.
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The competitive nature of the global service robotics market arises from innovation and cutting-edge development. The major players include ABB Ltd, KUKA AG, iRobot Corporation, Intuitive Surgical, Inc., and Daifuku Co., Ltd. They provide products for various applications, including healthcare, logistics, and manufacturing. Start-ups and established firms use the latest advancements to compete for AI, machine learning, and sensor technologies. The partnerships, investments into R&D, and market expansion efforts are some of the key aspects defining the market as companies offer different applications to meet the emerging needs of the industries.
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global service robotics industry is rapidly evolving with innovations across various sectors, particularly healthcare, logistics, and manufacturing. The burgeoning uptake of robotics in surgical processes, drug-delivery systems, and automatic warehouses is sustained within the market at a very high growth rate. This is being catapulted further by the factors; AI being developed at an unprecedented pace, as well as labor shortages, and the thrust for efficiency.
Moreover, even if there are obstacles like regulatory issues and energy efficiency, the ongoing research development in collaborative robots and intelligent service robotics will continue to drive future markets into further application and make robotics a necessary tool in operations, productivity, and responding to the growing demand evermore for automation.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 30.69 Billion |
Market size value in 2032 | USD 156.99 Billion |
Growth Rate | 16.60% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Service Robotics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Service Robotics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Service Robotics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Service Robotics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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