Service Robotics Market to grow at a CAGR of 22.58% by 2025|Increasing Adoption of Robotics in Diverse Fields of Application to Boost Growth|17000+ Technavio Reports

NEW YORK, Nov. 5, 2021 /PRNewswire/ — The service robotics market is expected to grow by USD 35.27 bn from 2020 to…

NEW YORK, Nov. 5, 2021 /PRNewswire/ — The service robotics market is expected to grow by USD 35.27 bn from 2020 to 2025. Technavio’s latest market research report estimates that the service robotics market will progress at a CAGR of  22.58%. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

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Service Robotics Market 2021-2025:Scope

The report also covers the following areas:

Service Robotics Market 2021-2025: Vendor Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. To help businesses improve their market position, Technavio’s report provides a detailed analysis of around 25 vendors operating in the market. CYBERDYNE Inc., Daifuku Co. Ltd., DeLaval International AB, Exyn Technologies, Intuitive Surgical Inc., Irobot Corp., Kongsberg Gruppen ASA, Northrop Grumman Corp., SoftBank Robotics Group Corp., and SZ DJI Technology Co. Ltd. are some of the major market participants.

Service Robotics Market 2021-2025: Drivers & Challenges

The growing demand for robotic automation processes, increasing adoption of robotics in diverse fields of application, and the increasing use of IoT in robots for cost-effective predictive maintenance will offer immense growth opportunities for Service Robotics Market. However, the high cost associated with robotic systems will hamper the market growth. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.

Service Robotics Market 2021-2025: Key Regions

44% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for service robotics in APAC. The increasing adoption of robotics in diverse fields of application will facilitate the service robotics market growth in APAC over the forecast period. 

Service Robotics Market 2021-2025: Segmentation

  • Application
    • Professional Robots
    • Personal Robots
  • Geography
    • APAC
    • Europe
    • North America
    • MEA
    • South America

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Service Robotics Market 2021-2025: Key Highlights

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will assist service robotics market growth during the next five years
  • Estimation of the service robotics market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the service robotics market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of service robotics market vendors

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Service Robotics Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 22.58%

Market growth 2021-2025

USD 35.27 billion

Market structure

Fragmented

YoY growth (%)

16.23

Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 44%

Key consumer countries

China, US, Japan, Germany, and South Korea (Republic of Korea)

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

CYBERDYNE Inc., Daifuku Co. Ltd., DeLaval International AB, Exyn Technologies, Intuitive Surgical Inc., Irobot Corp., Kongsberg Gruppen ASA, Northrop Grumman Corp., SoftBank Robotics Group Corp., and SZ DJI Technology Co. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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