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

Press Releases

Nov 06, 2021

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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