The global “Service Robotics Market” is expected to rise with an impressive CAGR and generate the highest revenue by 2026. Fortune Business Insights™ in its latest report published this information. The report is titled “Service Robotics Market Size, Share & Industry Analysis, By Type (Personal Robots and Professional Robots), By Application (Domestic and Industrial/ Commercial) and Regional Forecast, 2019-2026”. The report discusses research objectives, research scope, methodology, timeline and challenges during the entire forecast period.
The report evaluates the important characteristics of the market based on present industry scenarios, market demands and business strategies. Also, the research report separates the industry based on the Service Robotics Market share, types, applications, growth factor, key players and regions.
“The global service robotics market size stood at USD 11.25 billion in 2018 and is projected to reach USD 46.13 billion by 2026, exhibiting a CAGR of 19.4% during the forecast period”
- A comprehensive overview of the Service Robotics Market
- Significant factors boosting, restricting, challenging and providing an opportunity to the market
- Key insights and major industry developments
- Significant players functioning in the Service Robotics Market
- Major strategies adopted by players such as the launch of new products for better revenue generation, company collaborations, and others
- Other market trends
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreaks across industries to help you prepare for the future.
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List of Top Key Manufacturers for Service Robotics Market:
- Kongsberg Maritime AS
- Northrop Grumman Corporation
- Lely International
- KUKA AG
- Parrot SA
- Honda Motor Co. Ltd.
- Intuitive Surgical, Inc.
- Aethon Inc.
Key Industry Developments:
- June 2019: iRobot Corporation launched its Root Coding Robot, which is an extremely easy-to-use educational robot that teaches coding in an innovative manner and provides methods to solve modern-day problems to children as young as 4 years old.
- June 2019: Honda introduced its novel 3E (Empower, Experience, Empathy) product line to advance its ideas of automation in daily life. For instance, the company launched the 3E-B18 which is a chair-type mobility machine for general outdoor and indoor uses.
“Europe to Hold Lion’s Share in the Market; Asia-Pacific to Follow Closely”
With a revenue generation of USD 3.65 billion in 2018, Europe is poised to dominate the global Service Robotics Market share during the forecast period. This will be owing to high demand for personal and professional robots in the region. Additionally, manufacturing processes in Europe are highly automated and there is a presence of well-established players in the continent as well. For example, according to the International Federation of Robotics, around 44% of the world’s manufacturers are based in Europe on account of high demand for logistics, retail, and other industries.
Asia-Pacific is anticipated to display the highest CAGR owing to increasing government investments in robotics and artificial intelligence, rising focus on R&D. Besides these, the growing demand for robotic-led automation across industries and the rapid rate of industrialization in China and India will supplement the growth of the market.
While North America is expected to have stable growth due to the widespread presence of companies in the region, Africa, Latin America, and the Middle East will experience moderate growth as a result of a low level of technological progress.
Some of the Key Questions Answered in this Report:
- Detailed Overview of Service Robotics Market will help deliver clients and businesses making strategies.
- Influencing factors that are thriving demand and latest trends running in the market.
- Service Robotics Market forecast for global market split into segments like region, product, applications, end-user, technology, etc.
- What trends, challenges and barriers will impact the development and sizing of the Global Service Robotics Market?
- SWOT Analysis of each defined key player along with its profile and Porter’s five forces analysis to complement the same.
- What is the Service Robotics Market growth momentum or market carries during the forecast period?
- Which region may tap the highest market share in the coming era?
- Which application/end-user category or Product Type may seek incremental growth prospects?
- What focused approach and constraints are holding the Service Robotics Market demand?
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Regional Analysis for Service Robotics Market:
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
The Service Robotics Market research report offers a complete assessment of the industry. The projections included in the report have been determined utilizing demonstrated research philosophies and presumptions.
We follow a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country-level is derived from the most credible published sources and through interviews with the right stakeholders.
The Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.
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Major Table of Contents for Service Robotics Market Research Report:
- Executive Summary
- Market Dynamics
- Key Service Robotics Market Insights
- Global Market Analysis, Insights and Forecast, 2015-2026
- North America Market Analysis, Insights and Forecast, 2015-2026
- Europe Market Analysis, Insights and Forecast, 2015-2026
- Asia Pacific Market Analysis, Insights and Forecast, 2015-2026
- The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2026
- Latin America Market Analysis, Insights and Forecast, 2015-2026
- Competitive Landscape
- Global Service Robotics Market Revenue Share Analysis, By Key Players, 2020
- Company Profiles
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