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Service Robotics Market Size, Share and Forecast 2026

(IT-NEWSWIRE.COM, September 04, 2019 ) Market Overview.

• The International Organization for Standardization defines a ‘service robot’ as a robot that performs useful tasks for humans or equipment excluding industrial automation applications. Robots provide a great source of interaction. The market for service robotics is experiencing key changes that are driving growth. These include market readiness, technology maturity, delivered value, cost and availability, and the maturity of related technologies.

• Companies are increasingly looking at robotics as a mechanism to improve productivity and efficiency of their operation, improve scalability and flexibility, and address labor challenges. All these factors together drive a tremendous amount of interest in robotic technology.



Market Dynamics

• Demand for services robotics is increasing being used in military applicants in several countries across the world. Military laboratories around the planet are focusing on the development of compact and autonomous robots for use in welfare. In 2016, the U.S. Defense Advanced Research Projects Agency (DARPA) declared to invest nearly US$ 3 billion in the development of new military technologies, which include automated technologies and combat robot warriors.

• One of the most challenging activities in Robotics is innovating new designs and new applications for robots and robotic systems. New fields of applications are characterized by specific requirements that existing robot solutions may not be able to fulfill and therefore specific investigations and design activity are required.



Market Segmentation

• Based on components, the global market for service robotics is broadly segmented as sensors, actuators, control system, software, and others. Among these, software accounted for the largest market share of about 32.5%. The software architecture is based upon the Roblet-Technology, which is a powerful medium for robots. This technology introduces the possibility to develop, compile and execute an application on one workstation.

• On the basis of the operating environment, the global market for service robotics is broadly segmented as aerial, land and underwater. The underwater service robotics market is estimated to reach a market value of $XX million by 2026 from an initial market value of $940.51 million in 2018. The market is estimated to grow at a CAGR of 9.99% in the forecasted period 2019-2026. Underwater robots are being developed for various applications ranging from inspection to maintenance and cleaning of submerged surfaces and constructions.

• Based on type, the global market for service robotics is broadly segmented as personal application and professional application. Personal application is further classified into research robotics, domestic robotics, entertainment robotics, and others.



Geographical Analysis

The global service robotics market is segmented into

• North America,

• Europe,

• Asia Pacific,

• South America

• MiddleEast&

• Africa.



Company profiles

Some of the market players are

• Hanool Robotics Corporation,

• KUKA AG,

• Northrop Grumman Corporation,

• Others





View full sample: https://www.datamintelligence.com/research-report/service-robotics-market



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DataM Intelligence

Sai Kiran

+1 877 441 4866

pr@datamintelligence.com

Source: EmailWire.Com

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