(Entertainment-NewsWire.com, June 02, 2018 ) The service robot market was valued at US$11.304 billion in 2017 and is projected to expand at a CAGR of 22.77% over the forecast period to reach US$38.708 billion by 2023. There has been a growing demand for service robot in healthcare and education industry which drives its market growth. The declining price of personal robot owing to rapidly growing competition in market drives the adoption of service robot for domestic tasks which further augments the market growth. In addition to this, the rapidly aging population as well as increasing number of rehabilitation centers drive the demand for service robot as it can provide a helping hand to elderly people. Other drivers include rising spending power, and high speed innovations. However, high initial cost restraints its adoption and thereby hampers its market growth.
Competitive Insight
The service robot market is considerably competitive owing to the presence of well-diversified regional and international players. The market growth is expected to further augment the competitive rivalry as it will attract more players in the market. The major players discussed in the report include iRobot Corporation, Jibo, Inc., Honda Motor Co., Ltd., ABB, DJI, KUKA, Future Robot Co. Ltd., and Kongsberg Maritime.
The Service Robot market has been analyzed through following segments:
By Operating Environment Aerial Ground Marine
By Component Software Hardware Sensor Control System Actuator Others
By Application Professional robot Security and surveillance Medical Field robot Logistics Others Personal robot Entertainment Education Domestic task Others
1. INTRODUCTION 2. RESEARCH METHODOLOGY 3. EXECUTIVE SUMMARY 4. MARKET DYNAMICS 6. SERVICE ROBOT MARKET BY COMPONENT 7. SERVICE ROBOT MARKET BY APPLICATION 8. SERVICE ROBOT MARKET BY GEOGRAPHY 9. COMPETITIVE INTELLIGENCE 10. COMPANY PROFILES
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