Service robots are the fully autonomous systems that have the ability
to carry out the services without or with human assistance. They are
used in different sectors assisting human in performing duties that
are not possible for humans to perform. The service robots are
segmented into professional and service robots based on their product
types. The professional robots are used for commercial purpose
whereas personal robots are used for domestic uses. They are used in
many sectors and one of the most important areas of application is
the medical sector and defense. They are used to assist human in
performing duties that are not possible for humans to perform.
As the demand for automation rises from every sector of an economy,
companies invest more on research and development of the latest
technologies and equipment aimed at reducing the burden on human
labor. A trend similar to this is observed in the defense and
military sectors globally, which the report evaluates and examines in
detail. Demand for service robotics, particularly from the defense
industry, is expected to rise as tensions pertaining to bilateral
relations between several neighboring countries escalate. Unmanned
aerial vehicles and ground vehicles are the most popular service
robots deployed by the defense sector. The use of these robots is
likely to reduce the number of casualties and deaths during war.
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Increase in investment in research and development, rapid
industrialization and increase in demand for service robots in
defense and security are the major drivers which are driving the
service robotics market. The application of robots in several
industries such as defense, healthcare, logistics, media and
entertainment are expected to stipulate the demand of service robots
during the forecast period. Moreover, use of service robots in
defense is likely to decrease the number of death casualties and
cause less damage to properties during war or combat situations.
Additionally, with the rapid industrialization the demand for service
robotics is expected to increase during the forecast period. Service
robotics in industries leads to the rise of automation in the market
globally.
High cost associated with development is acting as restraining
factors in service robotics market. From designing to development it
is a long procedure which takes a long time and charges extra costs
before the actual manufacturing of service robots. Moreover,
complicated interface of service robots is also an important factor
acting as a restraint of this market.
Underdeveloped mobile automation is one of the major opportunities of
this market. Most of the service robots are either stationary and are
focused on performing a single task only. But the mobile automation
in service robots is yet to be explored as they are still
underdeveloped. The mobile service robots are used in the research
and development labs to carry out different experiments. Moreover,
increasing application areas globally is also a major opportunity of
this market. The service robot is likely to be used in almost every
sector and thus reduces the work load of humans.
The research study analyzes the Service Robotics market on a global
level and provides anticipate in terms of revenue (USD billion) from
2015 to 2021. It recognizes the restraints and drivers affecting the
industry and analyzes their impact during the anticipated period.
Additionally, it identifies the major opportunities for market growth
in the next few years.
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