Report ID: SQMIG45J2161
Report ID:
SQMIG45J2161 |
Region:
Global |
Published Date: June, 2024
Pages:
197
|
Tables:
135 |
Figures:
77
Global Service Robotics Market size was valued at USD 26.42 Billion in 2022 and is poised to grow from USD 30.69 Billion in 2023 to USD 134.64 Billion by 2031, growing at a CAGR of 16.60% during the forecast period (2024-2031).
Use of robots to perform multiple services including personal and industrial applications is rising on a global level. High emphasis on eliminating human errors to maximize productivity in individual and business operations is promoting the demand for service robotics. Delivery robots are projected to be in high demand around the world as e-commerce activity booms and emphasis on better last-mile delivery increases. Integration of robotics with other advanced technologies is also opening new avenues of opportunities for robotics service providers in the long run. Labor shortages and the implementation of machines for hazardous tasks will also boost sales of robotics service in the future. However, resistance to change, workforce displacement concerns, and high development and deployment costs are also predicted to slow market growth.
US Service Robotics Market is poised to grow at a sustainable CAGR for the next forecast year.
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Report ID: SQMIG45J2161