Personal Service Robotics Market Analysis, Trends, Demand, and Industry Size will grow USD 20.31 Billion by 2030
Research Reports
Mar 14, 2023
Personal Service Robotics Market Insights
According to MRFR analysis, the global Personal Service Robotics Market is expected to register a CAGR of 8.20% from 2023 to 2030 and hold a value of over ~USD 20.31 billion by 2030.
Service robots are machines that aid men by performing useful tasks for them. They are majorly classified as robot’s cast-off for professional use and personal use. Further, according to application, they are considered domestic and industrial.
The domestic segment consists of all the robot’s cast-off for a personal applications and indoor uses. The usage of IoT-based devices in homes and the introduction of precise and more affordable home usage robots are the reasons behind the growing adoption of domestic robots across geographies. The industrial/commercial segment deals with the equipment cast-off in the industrial environment to perform industry-related tasks. Constant efforts toward the engraining of automation at industrial facilities and reducing the expenditure on labor wages by reducing human intervention in industrial operations are driving the market of industrial service robots. The global market was subject to a considerable reduction in market growth owing to the repercussions of economic downfall across numerous prominent countries. However, growing demand for automation and augmented social distancing practices across the globe were the two supporting factors for the development of the sales of service robots during the pandemic. After the COVID-19 epidemic period, the introduction of robot-based operations and the advancement of automation augmented the demand for this robotics to upsurge integration automation across industries.
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Personal Service Robotics Market Key Players
Some of the key market players are-
- Neato Robotics Inc (U.S.)
- F&P Robotics AG (Switzerland)
- Segway Inc. (U.S.)
- Honda Motor Co Ltd. (Japan)
- Samsung Electronics Co. Ltd. (Korea)
- Hasbro Inc. (U.S.)
- Ecovacs Robotics Inc (China)
- ZMP Inc (Japan)
- Hansol Robotics Corp. (Korea)
- iRobot Corporation (U.S.)
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Personal Service Robotics Market Regional Analysis
Europe is the dominant region for the global robotics market. The second-largest market, the Asia-Pacific has the maximum demand. Growing research and development is the market-driving factor. The rate of investment in automation is advanced in this region. It is the vital reason for the highest growth of the robotics market in the forecast year. China, India, Japan, and Korea are important contributors to this market. North America is making considerable progress in the future. The demand in this region will intensify during the forecast period.
Personal Service Robotics Market Segmentation
The global Personal Service Robotics Market has been segmented into components and applications.
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Based on the Component, The global Personal Service Robotics Market has been segmented into Hardware, Software
Based on the Application, The global Personal Service Robotics Market has been segmented into Cleaning Robots, Entertainment & Toy Robot, Education Robot, Handicap Assistance Robot, Companion Robot, Personal Transportation Robot, Security Robot
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