Global Service Robotics Strategic Research Report 2024: Market to Reach $103.7 Billion by 2030

DUBLIN, Feb. 23, 2024 /PRNewswire/ — The “Service Robotics – Global Strategic Business Report” report has been added to  ResearchAndMarkets.com’s providing.
Global Service Robotics Market to Reach $103.7 Billion by 2030The international marketplace for Service Robotics estimated at US$31 Billion within the 12 months 2022, is projected to attain a revised dimension of US$103.7 Billion by 2030, rising at a CAGR of 16.3% over the evaluation interval 2022-2030. Hardware, one of many segments analyzed within the report, is projected to document 15.4% CAGR and attain US$71.2 Billion by the tip of the evaluation interval. Growth within the Software section is estimated at 18.5% CAGR for the following 8-year interval.
The report begins with a worldwide financial replace, adopted by an exploration of how service robots have emerged as crucial assets in combating the COVID-19 pandemic. It highlights the elevated emphasis on social distancing and cleanliness, which has led to a higher give attention to service robots throughout numerous sectors.
Specific use instances of service robots in the course of the pandemic are mentioned, underscoring their significance in authorities investments and adoption by industries akin to accommodations to adapt to socially distanced residing. The aggressive state of affairs within the service robotics market is analyzed, together with current improvements and developments. The report notes the continued development in funding for robotics firms and highlights choose startups within the service robotics sector.
A complete overview of robots and their varieties, together with private robots {and professional} service robots, is offered. The report emphasizes the flexibility of service robots throughout industries and their function as invaluable group gamers. In phrases of market outlook, growing international locations are anticipated to drive future development, leveraging the advantages and technological advances within the skilled service robots market. However, challenges confronting the service robotics market are additionally addressed.
Recent trade exercise and the presence of world manufacturers within the service robotics market are highlighted, offering insights into the present panorama and key gamers shaping the trade.
The U.S. Market is Estimated at $10.8 Billion, While China is Forecast to Grow at 20.3% CAGRThe Service Robotics market within the U.S. is estimated at US$10.8 Billion within the 12 months 2022. China, the world’s second largest financial system, is forecast to attain a projected market dimension of US$9.8 Billion by the 12 months 2030 trailing a CAGR of 20.3% over the evaluation interval 2022 to 2030. Among the opposite noteworthy geographic markets are Japan and Canada, every forecast to develop at 12.6% and 13.6% respectively over the 2022-2030 interval. Within Europe, Germany is forecast to develop at roughly 14.8% CAGR.
MARKET TRENDS & DRIVERS

Artificial Intelligence Brings in a Transformation in Service Robotics
AI & Robotics – The Future
Promising Research Areas
Service Robots & AI: Bundle of Joy Bearing Symbolic Relationship with Service Sector
AI Integration into Service Robotics to be More Rampant Going Forward however Challenges Remain
Applications of AI-Powered Service Robots Across Industries
AI-Powered Robots to Zoom in Both Industrial and Non-Industrial Environments
Proliferation of Technologies to Create Job Loss and Lead to Data and Ethical Concerns – Mitigation Methods Needed
Need for More Comprehensive and Balanced Regulations Around AI and Robotics
Collaborative Robots to Drive Growth within the Non-Industrial Robots Market
Robotics-As-A-Service (RaaS) Garners Attention
Innovative RaaS Platforms
Manufacturers Focus on Service Robots with Impressive Computing Power
Blossoming of Service Robotics with Unabated Technological Advances
Approaches to Overcome Technological Challenges
Despite Being Young, Service Robots Market Posts Startling Progress & Entails Lucrative Avenues
Customer Interactions: Service Robots versus Self-Service & Human Staff
Customer Service Eyes on Big Change with Strides in Service Robot Designs & Perceptions
Medical Applications: An Expanding Market for Professional Service Robotics
Service Robots in Surgeries
Service Robots Aid in Patient Rehabilitation
Defense Applications: A Key Market for Professional Service Robots
Exoskeleton Robots Set to Register Strong Growth
Government Spending on Military & Defense: A Determinant of Growth in Defense Robots Market
Field Applications Drive Growth in Professional Service Robotics Market
Milking Systems with Advanced Features to Improve Adoption Rate
Positive Outlook for Dairy Industry Augurs Well for Robotic Milking Systems
Developments in AI, Machine Vision & Machine Learning Remain Critical to Commercialization & Growth
Rising Penetration of Robotics in Agricultural Sector Bodes Well
Worsening Labor Shortages & Rising Labor Costs Drives Interest in Autonomous/Robotic Tractors
Automated & Robotic Equipment to Foray into Food Service Sector
Robot Chefs – Revolutionizing Restaurant Operations
Contact-less Machines and Robots Address the Shifting Consumer Mindset
Logistics Application Segment to Catalyze Growth of Professional Service Robots Market
Growing Investments in Warehouse Automation to Drive Increased Spending on Warehouse Robotic Solutions
Package Delivery Gains Significance amid Rise in e-commerce
Humanoid Robots for Personalized & Interactive Experience in Banks
Robotics in Hospitality Industry: Promising Future Ahead
AI-Driven Service Robots for Hospitality Sector to Bring in New Possibilities for Improving Customer Experience and Loyalty
Implications of Service Robotics for Hospitality Players
Personal Robots Garner Momentum
Expanding Application Possibilities Broadens the Market
Advanced Service Robots for Homeowners
Aging Population Lends Traction to Eldercare-Assistive Robots
Home-Help Robots for Retirees: The Next Frontier of Robotic Advancements
Handicap Assistance Robots: A Key Opportunity
Sales of Mobile Robots on the Rise
Robotic Vacuum Cleaners Market for Home Use: Promising Growth Opportunities
Telepresence to Revolutionize Service Robots Industry
Customizable & Networked Robots: Emerging Revenue Spinners
Challenges on the Block for Service Robotic Market that Warrant Attention

FOCUS ON SELECT PLAYERS (Total 188 Featured)

Hitachi Ltd.
Denso Corporation
Omron Corporation
Lockheed Martin Corporation
Toyota Motor Corporation
Elbit Systems Ltd.
Industrial Technology Research Institute (ITRI)

For extra details about this report go to https://www.researchandmarkets.com/r/155asc
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