Global Service Robotics Market is Estimated to be Worth Around US$ 40 Bn in 2023 and is Expected to Garner an Overall Valuation of US$ 267 Bn by 2033 | Projection by Future Market Insights, Inc.

The growth of the Service Robotics Market will be driven by the growing demand for robotic automation processes, the increasing adoption of robotics in diverse application fields, and the increasing use of IoT in robots for cost-effective predictive maintenance.

NEWARK, Del, Dec. 13, 2022 (GLOBE NEWSWIRE) -- The global service robotics market net worth is estimated to be around US$ 40 Bn in 2023 and is anticipated to register an impressive CAGR of 21% from 2023 to 2033. As per the analysis report on the service robotics market the overall valuation of the market is projected to reach up to US$ 267 Bn by 2033.

Service robotics is now supporting people in many different areas, such as household work, education, and entertainment, in addition to doing critical and dangerous duties for people like medical care and security. As these personal service robots manage time efficiently, reduce the workload of family members and laborers, and increase output by removing the possibility of human mistakes the global service robotics market is witnessing remarkable growth in the present years.

Ask for In-depth Report Sample@

The sheer accuracy obtained by the deployment of service robotics in high-tech production and testing facilities has remarkably accelerated the market growth. Additionally, the use of such robots by unmanned aerial aircraft, in the agriculture and defense industries has also substantially increased the demand for service robotics in the last few years.

Key Takeaways from the Service Robotics Market Study

  • The medical, and logistics & transportation sub-segment of the industrial or commercial services robotics segment is predicted to have the highest market share in the coming days. 
  • Given that domestic service robots are utilized to care for elderly people, the residential segment is likewise anticipated to rise strongly through the forecast years.
  • Given that the deployment of service robots is anticipated to be more application-specific, it is envisaged that the software component segment would account for a bigger proportion of the global service robotics market share in comparison to the hardware segment.

Competitive Landscape for the Service Robotics Market

iRobot Corporation, Intuitive Surgical Inc., Honda Motor Co., Ltd., Panasonic Corporation, Aethon Inc., Yujin Robot Co. Ltd., Samsung Electronics CO., Ltd., DeLaval, Robert Bosch GmbH, AB Electrolux, Lely International, KUKA AG, Northrop Grumman Corporation, Kongsberg Maritime AS, Parrot SA, DJI, Daifuku Co. Ltd., Dematic Corp., Knightscope Inc., Brokk AB, Kollmorgen Corporation, Stryker Corp., Husqvarna AB, Construction Robotics LLC, Seegrid Corporation, JBT Corporation, SSI Schaefer AG, BAE Systems, Neato Robotics, Transbotics Corp., Omron Corp., Ecovacs Robotics, Medtronic PLC, SMP Robotics Systems Corp., Vision Robotics Corp., Naio Technologies SAS, UBTECH Robotics Inc., Smith & Nephew PLC among others are some of the major players in the global service robotics market.

Get 30% Discount Before it’s Gone - Request Analyst:

Recent Developments in the Service Robotics Market Industry

  • SoftBank Robotics Group and Bear Robotics, a robotics and AI business venture, came together in Sept 2020 to create and market a new robot dubbed SERVI for use in the catering and hospitality sectors.
  • In order to broaden its unified informatics platform, Intuitive Surgical Company secured Orpheus Medical in the year 2020. Orpheus Medical provides hospitals with IT links in addition to experience in organizing, retrieving, and readily storing surgical recordings for usage.
  • In order to create a higher generation of adaptable autonomous service robots the ABB Company ASTI Mobile Robotics Group did buy ASTI Mobile Robotics Group in July 2021. With this purchase, Robotics and Automation solutions have improved significantly in the following two years, enabling the firm to enter new product categories and deliver a distinctive service robot for sale.

Key Segments

By Component:

  • Hardware
    • Airframe
    • Sensors
    • Cameras
    • Actuators
    • Power Supply
    • Control Systems
    • Navigation Systems
    • Propulsion Systems
    • Others
  • Software

By Field of Application:

  • Professional or Commercial Service Robotics
    • Field Robots
    • Professional Cleaning
    • Inspection and Maintenance
    • Construction and Demolition
    • Customer Service
    • Logistics Systems (Manufacturing and Non-manufacturing)
    • Medical Robots
    • Rescue and Security Robots
    • Defense Robots
    • Underwater Systems (Civil/General)
    • Powered Human Exoskeletons
    • Public Relation Robots
    • Others
  • Personal or Domestic Service Robotics
    • Robots for Domestic Tasks
    • Entertainment Robots
    • Education and Research Assistance
    • Elderly and Handicap Assistance
    • Others

By Environment:

  • Aerial
  • Ground
  • Marine
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia and Pacific
  • Middle East and Africa (MEA)

Request Methodology@

Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Investment Feasibility Matrix

    3.5. PESTLE and Porter’s Analysis

    3.6. Regulatory Landscape

        3.6.1. By Key Regions

        3.6.2. By Key Countries

    3.7. Regional Parent Market Outlook

Read Full Report @

Explore FMI’s Extensive Coverage on Technology Domain:

Smart Railways Market Key trends : The global smart railways market is set to enjoy a valuation of US$ 26.37 Bn in 2022, and further expand at a rapid CAGR of 16.3% to reach US$ 43.33 Bn by the end of 2031.
Mobile Augmented Reality Market Forecast : The global mobile augmented reality market was valued at US$ 3.6 Bn in 2021. Demand for mobile augmented reality is projected to rise at an astounding CAGR of 23.3% with its market valuation reaching US$ 29.3 Bn by the end of 2031.

Storage as a Service Market Review : The evolution of digital technologies in BFSI sector is creating potential opportunities for Storage as a Service applications. Digitalization via digital wallets, mobile banking, and chatbot support has created data explosion, which needs immediate sorting, storing, and managing to make the most of the technological developments.

Concealed Weapon Detection Systems Market Research :  The global concealed weapon detection systems market size is expected to grow from US$ 637.8 Mn in 2022 to US$ 1.17 Bn by 2031. 

Virtual Event Platforms Market Overview : Demand for virtual event platforms is projected to rise at an astronomical CAGR of 16.6% from 2022 to 2028. The global virtual event platforms market stands at a valuation of US$ 6.78 Bn, and is predicted to surge to US$ 17.05 Bn by the end of 2028.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
LinkedInTwitterBlogs | YouTube
For Sales Enquiries: