Oct 17 2014
Research and Markets has announced the addition of the "Service Robotics Market (Professional and Personal), by Application (Defense, Agriculture, Medical, Domestic & Entertainment), & by Geography - Analysis Forecast (2014 - 2020)" report to their offering.
The global service robotics market is estimated to reach up to $19.41 billion by 2020 growing at a CAGR of 21.5% from 2014 to 2020
The service robotics market has been emerging while competing with the industrial robotics industry. It serves various business segments in terms of operational excellence. The demand for robotics arms and moving support systems has increased considerably in the medical and healthcare industries, giving new hopes to the physically disabled persons. Due to unique properties such as high-tech programming, data storage, and precise control, the service robotics market is seen to experience a significant growth in the coming years.
Extensive research and developments is being carried out in the field of service robotics in order to provide highly efficient robots.
The key drivers of the service robotics ecosystem are: the rising importance of robots in defense and rescue operations, increasing applications in the healthcare industry, among others. The service robotics market, in spite of its prominent demand, still has some restraints in its market growth. The key market restraints can be classified as: lack of advanced cognitive competencies, performance in untested environment, and lack of high level interfacing. The very high cost of development would be a burning issue for the service robotics market, while the growing demand from the developing countries and new application areas would be the opportunities for the market.
The report focuses on giving a detailed view of the complete service robotics industry with regards to the application market, with detailed market segmentations, combined with qualitative analysis of each and every aspect of the classification on the basis of application, sub-application, and geography. All the numbers, at every level of detail, are forecasted till 2020, to give a glimpse of the potential revenue based on this market.
The major players in the service robotics market include:
- Intuitive Surgical Inc. (U.S.)
- iRobot Corporation (U.S.)
- Honda Motors Co. Ltd. (Japan)
- Google Inc. (U.S.),
- MAKO Surgical Corporation (U.S.).