Developments in Mechatronics Drive the Global Service Robotics Market, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Service Robotics. The global market for Service Robots is projected to reach US$10.8 billion by 2020, driven by engineering breakthroughs and developments in mechatronics.

Service Robotics: A Global Strategic Business Report

Follow us on LinkedIn – Service robots are robots with semi- or fully-autonomous operations, with the ability to offer services useful for human beings. Unlike industrial robots, service robots function in close proximity to humans. Service robots of varying structures and forms find use in a wide range of personal and professional use applications. Following significant R&D focus, service robots have finally emerged with significant commercial promise. Robots are increasingly finding use in homes, offices, hospitals, museums, and other public places. Some of the commercialized forms of service robots include self-navigating lawn movers, vacuum cleaners, window washers, and surgical operators. The past few years have seen considerable growth in the use of service robots in both professional and personal use applications.

In the coming years, growth in the service robotics market will be driven by the growth in the personal use of robots in homes for household applications. A number of products such as autonomous lawnmowers are beginning to transform this market. In addition, service robots are now being developed to perform complex and intricate surgeries, and operate in fields such as agriculture, forestry, mining, cleaning, construction, demolition, and freight transport. Robots are also being used in dangerous search and rescue missions. Driven by rapid technology advancements, future robots will be able to provide assistance to humans in a more intuitive manner. Technology advances in adaptive behavior will foster use of entertainment robots such as pet robots. Another promising area of growth for robots is in providing care for the elderly, particularly those suffering from conditions such as dementia. Few robots have already been developed for meeting the needs of patients, including rehabilitation robots, telepresence robots, food delivery robots, and companion robots.

The market for personal use service robots is reaching a stage where efforts are being made to produce them on a mass scale. Small and medium enterprises are well positioned to exploit the advantages of professional service robots in applications such as outdoor and field operations, autonomous transport, cleaning, logistics, underwater maintenance and exploration, medical and rehabilitation, and as exoskeletons.

As stated by the new market research report on Service Robotics, Asia-Pacific represents the largest and fastest growing regional market, worldwide, with a CAGR of 13.8% over the analysis period. Characterized by burgeoning economies such as India and China, increase in disposable incomes, improving lifestyles and standard of living, and rising consumer affluence, Asia-Pacific represents a strong market for domestic and entertainment robots. Increasing R&D investments for new robotics technology, particularly for use in defense, rescue and security and medical applications, are also benefiting growth in the region.

Major players covered in the report include Gecko Systems Corporation, Hanool Robotics Corp., Honda Motors Co. Ltd., Husqvarna, Iberobotics S.L., Intuitive Surgical Inc., iRobot Corporation, KUKA Aktiengesellschaft, LG Electronics Inc., RedZone Robotics, RoboBuilder Co. Ltd., ROBOSOFT, SeaRobotics Corporation, Samsung Electronics Co. Ltd., Toyota Motor Corporation, WowWee Group Limited, Zucchetti Group, among others.

The research report titled “Service Robotics: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, company profiles, mergers, acquisitions and other strategic industry activity. The report provides market estimates and projections for service robots in value (US$) and volume (Units) for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Rest of World. Product segments analyzed include Personal Use Service Robots and Professional Use Service Robots. Personal Use Service Robots are analyzed by end-use applications such as Domestic, Entertainment, and Others. Professional Use Service Robots are analyzed by Defense, Field Logistics, Medical, and Others.

For more details about this comprehensive market research report, please click here

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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