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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).

Global service robotics market is set to grow rapidly due to development in Artificial Intelligence and Internet of Things as well as sensor technology. Big brands with a significant market share of robot product segments are focusing on sectors like domestic robots, medical robots, and special service robots. Emerging competitors are gaining traction, particularly in educational and disinfection robots. Regional markets, such as Asia-Pacific, led by Japan and South Korea, show robust growth due to favorable government policies and technological innovation. Intense competition is being observed in terms of partnering, sustained research and innovation as well as development and innovation that reflects on flexible and affordable solutions. Using artificial intelligence, corporations are setting out to optimize robot independence and productivity, which pointed out the fact that services robots market has gone through the progress stage and enters the intelligence stage. 'iRobot  (US) ', 'SoftBank Robotics Group (Japan) ', 'Intuitive Surgical (US) ', ', Inc. (China) ', 'Daifuku (Japan) ', 'Samsung Electronics Co., Ltd. (South Korea) ', 'DJI (China) ', 'Kongsberg Maritime (Norway) ', 'Northrop Grumman (US) ', 'DeLaval (Sweden) ', 'Exyn Technologies (US) ', 'XAG (China) ', 'AMP Robotics (US) ', 'UVD Robots (Denmark) ', 'Diligent (US) ', 'HARVEST CROO (US) ', 'Starship Technologies (US) ', 'PARROT SA (France) ', 'General Electric (US) ', 'Amazon Robotics (US)'

As a result of advancement in technology and increased production of robots, the cost of producing robots has been reduced drastically. Recent statistics show that over the last 30 years the price tag of a robot has in actual fact halved and is greatly reduced if measured against labour costs. Additionally, because of the growing application of robots mainly from new generation countries the production is expected to move to cheaper markets hence adding to the decrease in cost of manufacturing. Further, labor costs are increasing, and they are compared to the cost of robots in the established manufacturing countries play a role in the order of the ever-improving pricing model, which is beneficial for the market. The enhancement of the capabilities of the robots was possible because of technological advancement. This together with the better productivity and quality of the service robot helped in boosting the market. 

Robots for Professional use: There are business robotic systems containing field robots, defense and security robotics, medical assisting robots or MARs, public service robots, electrical and wiring industry robotic systems and construction robots. The sophistication of the structures within all these sectors through digital technologies and automation solutions need the application of professional robots. For instance, service robots are used in construction activities to tackle issues of excessive charges on labor, shortage of talents and recurrent mishaps. It also enables building more reliably since there is very little chances of human errors. This is made possible by advanced technologies such as 3D printing and demolition robots that lay a perfect ground in adoption of robots within construction industry. Transportation, hospitality, medical facilities, professional cleaning, and agriculture are five primary sectors that are known to have the highest level of professional robots’ implementation. The transport sector used to be among the dominant sector that adopted professional robots in the stated year. For instance, as estimated by IFR nearly 1,21,000 units of professional service robots were sold in 2021 - thus over one-third of all units manufactured –were for the specific role of transport of cargos and goods. Medical and healthcare robots are applied in diagnosing apparatuses, surgical assisting, therapeutic aids, rehabilitation aids and many others. COVID-19 significantly contributed to the increase in the demand of robots in the sector. For example, IFR 2021 shows that global sales of medical robots were 23 percent higher in 2021, and it is a total of 14,823 units.

The global service robotics market is dominated by North America as this region offers a robust environment for robotics firms, an advanced technological environment, and supportive policies among other factors. United States stands as one of the leading nations in the development of service robotics owing to its advanced research facilities and increasing market need covering different sectors such as healthcare industry, logistics and consumer goods. Several technologies including the Internet of Things, IOT, Artificial Intelligence, AI, have consequently boosted the North America’s service robotics.  

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Global Service Robotics Market

Product ID: SQMIG45J2161