Global Service Robotics Market Report by Segments (Transportation & Logistics, Professional Cleaning, Medical Robotics, Hospitality, and Agriculture & Field), Countries and Company Analysis, 2024-2032

Driving Forces of Global Service Robotics Market-

Accessible Service Robots to Promote Market Expansion:

The cost of manufacturing robots has greatly decreased as a result of the quick development of technology and the increase in robot production. In real terms, the average cost of a robot has decreased by half over the last 30 years, and this decrease is considerably more pronounced when considering labor costs. Furthermore, it is projected that the manufacture of robots would move to low-cost locations, further reducing the manufacturing cost, due to the growing demand for robots from emerging nations. Furthermore, in key manufacturing economies, increased labor costs relative to the cost of robots also contribute to increasingly appealing pricing dynamics, which support market expansion. Better productivity and quality attained via the usage of service robots, coupled with enhanced robot capabilities as a result of technological advancements, contributed to the market's expansion.

Increasing financial support for robotics research:

In recent years, there has been a notable surge in funding for research into service robotics due to various government programs. The National Artificial Intelligence Research and Development Strategy Plan estimates that G20 AI researchers will contribute around USD 11.5 trillion to intelligent technologies by 2028. Many nations are making significant investments in robots, primarily through government spending. For instance, "the Key Special Program on Intelligent Robots in 2022" received USD 43.5 million in funding from the Chinese government. Under Japan's Moonshot Research and Development Program, robotics-related initiatives will get USD 440 million in funding over the course of five years, from 2020 to 2025.

Rising Demand for Automation in Healthcare

The healthcare sector is rapidly embracing service robotics, as they offer opportunities for improving patient care and streamlining operations. Robots support surgeons during surgery, perform caretaking functions with elderly patients, and monitor patients' health to provide increased precision, reduced human error, and less burden on healthcare professionals. An aging population coupled with increasing demands in healthcare could help robots address labor shortages and increase efficiency. The COVID-19 pandemic also hastened the search for noncontact solutions and accelerated the implementation of robots in hospitals and medical institutions. In October 2024, according to IFR's statistics department, over 205,000 units were shipped in 2023. Of the robots sold, nearly 80% totaling 162,284 units came from Asia.

Investment in robotics start-ups

Investment in robotics start-ups surged significantly, pushing innovation and accelerating the development of service robots. They include the investment of venture capitalists and major corporations in high-tech robot technologies, thereby driving design, functionality, and scalability advancements. Investments enable start-ups to introduce new, low-priced robots to the market more quickly, thus scaling up the varieties of service robots cut across all sectors. Increasingly, this financial is fastening the spread of service robots within hospitality, logistics, and home services. In June 2024, Sunnyvale, California, is an AI robotics company focused on developing a general-purpose humanoid robot. It raised $675 million in a Series B funding round in February, attracting major investors like Nvidia, Microsoft, and Amazon.

United States Service Robotics Market Overview

In North America, the United States dominates the service robotics market. The country is a hub for technological innovation, with significant investments in robotics and AI-driven solutions. Service robots have become very popular across different industries, such as healthcare, logistics, retail, and hospitality. In the healthcare industry, robots support surgery, elderly care, and patient management, and tackle labour shortages and efficient ways of offering care. E-commerce demand for autonomous delivery robots also increases in the logistic industry. Backing from the government of the United States to innovate and automate further pushes the market.

Germany Service Robotics Market Overview

Germany dominates the European market for service robots, and this country stands for particularly developed industrial automation and technological skills. In healthcare, service robots are utilized for surgical support, older people's care and rehabilitation. In the retail and hotel industry, the need for service robots is growing as these businesses look for an automated solution to customer service, cleaning, and logistics among others. With the government's strong support and an emerging robotics ecosystem, Germany invests in smart robotics technologies, fuels innovation, and grows the market for service robots across the region.

United Arab Emirates (UAE) Service Robotics Market Overview

As a major player in Middle Eastern service robotics, the United Arab Emirates (UAE) will maintain strong momentum in competition. Dubai, for instance, is a leader in using robots in security, customer service, and delivery processes. The government in the UAE has placed significant investments in robotics and automation through initiatives, such as the Dubai Robotics Strategy, to position the country strategically as a global front in robotics technology. Service robots are highly deployed in healthcare, hospitality, and retail industries, which is making the region's market grow rapidly.

Brazil Service Robotics Market Overview

Brazil is the leader in the Latin American service robotics market, driven by its growing demand for automation in healthcare, agriculture, and logistics industries. Robots assist in surgeries, patient care, and rehabilitation, enhancing efficiency and precision in healthcare. The growing e-commerce industry in the country also contributes to the deployment of delivery robots. Brazil has positioned itself as an important hub in the region through its development of innovation and investment in robotics research. Further growth in automation technologies in Brazil will positively impact the service robotics market.

Asia Pacific Service Robotics Market

Due to its enormous customer base, which is seeing a rise in demand for service robots, particularly in nations like China, Japan, South Korea, and India, among others, the Asia Pacific area is among the fastest expanding in the globe. For example, IFR reports that in 2021, professional robot sales increased by almost 30% in Asia.

Another important component in the growth of a regional robotics market is regional governments. India, for example, intends to invest in military robotics and is getting ready to send out advanced robotic warriors in the coming years. This is clear from the announcement made by the All-India Robotics Association (AIRA) in January 2022 on the start of domestic defense robot manufacturing.

Several of the region's other nations have also seen a similar pattern. For example, the Chinese government has big aspirations for the robotics sector in the nation. The robotics industry has been identified by the government as one of the key sectors for high-end development, along with automation and artificial intelligence (AI), in order to accelerate the transformation and advancement of the industrial industry. This drive is anticipated to increase the share of Chinese-made robots in the worldwide market.

Japan is the world leader in robotics and thus plays a particularly significant role in the Asia-Pacific service robotics market. It is ahead of the curve in innovation of both industrial and service robots. In the health sector, Japan has successfully utilized robots in elder care and surgery to cater to its growing elderly population. Service robots also widely dominate the retail, hospitality, and public services sectors in cleaning, delivery, and assisting customers. Thanks to Japan's solid infrastructure in robotics and government support, the country further propels the growth of service robotics in the region.Asian financial services firms are also trying to reduce expenses in order to retain profitability, increase dividends to shareholders, and have a new tool at their disposal that attracts clients—like service robots.

A number of large nations, like China, Japan, and others, are also seeing a notable increase in the elderly population. The National Bureau of Statistics of China (NBSC) and UN DESA estimate that by 2050, the proportion of the population that is 60 years of age or older would be around 38.81%. It is anticipated that these developments would fuel the nation's need for service robots.

Global Service Robotics Company News:

May 2024: In order to get into the personal mobility market, EveryBot, which was once focused on robotic mop cleaners, purchased AI robotics company Highcore. As a result, the goal of this strategic choice was to increase EveryBot's product portfolio and explore new growth markets. It is anticipated that integrating Highcore's technology will have several advantages. EveryBot anticipated a rise in the domestic and worldwide market for AI-driven electric wheelchairs among the disabled and other mobility-impaired populations. The company identified considerable synergies by merging EveryBot's skills in sales, marketing, and research & development with Highcore's technological competence.

January 2024: The American robotics integrator company Acieta was purchased by private equity fund Angeles Equity Partners from Mitsui & Co. of Japan. The investment's financial structures were not broken down. After Mid-State Engineering, R\BEX, and +Vantage were acquired, the company entered the robotics integration market for the fourth time, and Mid-State Engineering had already notified Angeles that it was interested in purchasing the company. Angeles stated that the Acieta arrangement improved its ability to tend to, weld, and palletize equipment for many industries, including agricultural and manufacturing, foundries and die, welding and fabrication, as well as construction and building items.

March 2023: Mako Total Knee 2.0 was introduced by Stryker during the AAOS 2023 Annual Meeting in Las Vegas. The goal of Mako Total Knee 2.0 is to provide surgeons with a fresh, improved user experience together with dependable results. The innovative digital tensioner in Mako Total Knee 2.0 allows surgeons to assess knee stability intraoperatively during a Total Knee Arthroplasty (TKA) without the need for additional instrumentation. Other notable features include a new, intuitive design and customizable workflow.

Segments – Market & Volume has been covered from 5 viewpoints:

1. Transportation & Logistics
2. Professional Cleaning
3. Medical Robotics
4. Hospitality
5. Agriculture & Field

Countries – Market has been covered from 16 viewpoints:

•    America

o    United States
o    Canada
o    Mexico
o    Others

•    Europe

o    France
o    Germany
o    Italy
o    Spain
o    Others

•    Asia Pacific

o    China
o    India
o    Japan
o    Republic of Korea
o    Thailand
o    Others

•    Rest of the World

Company Insights:

•    Overview
•    Recent Development
•    Product Portfolio
•    Revenue

Key Players Analysis:

1. KUKA
2. iRobot Corporation
3. Intuitive Surgical Inc.
4. Panasonic Corporation
5. Fanuc
6. ABB Ltd.
7. Stryker Corporation

Report Details: