Product ID: SQMIG45J2161
Report ID:
SQMIG45J2161 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|
Tables:
59 |
Figures:
75
In the European region, the market for service robotics is growing the fastest. In terms of the global service robotics market, Europe holds the largest market share due to the rising demand for personal and business robots in several of its member states. The location of several market participants in this area. In Europe, there are numerous manufacturing industries. The medical, defence, logistics, and retail sectors are increasingly in demand from these industries. Due to the increased acceptance of these robotic solutions in these nations, countries like Germany, the United Kingdom, France, and Italy are predicted to expand strongly during the forecast period. Following Europe, which is anticipated to increase significantly throughout the projected period, the Asia Pacific region is anticipated to have the second-highest share. The research and development activities in the industrial robot sector are the most significant driver of the rising use of service robotics in this region. Governments in the Asia-Pacific area are increasing their investments in technology like automation, artificial intelligence, and robotics. The key drivers of growth in this region are expected to be South Korea, Japan, and China. Increased industrialization, globalisation, and the growing need for automation in various industries are driving demand for service robotics. Many people in developing countries like China and India now enjoy higher standards of living, which will also fuel the expansion of this market. Africa, the Middle East, and Latin America are all anticipated to have strong growth. Their footprints in this industry are slowly growing. The growth of service robots will be a little slower in these areas due to the limited technological development.
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Product ID: SQMIG45J2161