Service Robot Market - Forecasts from 2018 to 2023
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.
By Application
By Application, professional robot accounts for large market share in 2017 and will growth at a considerable rate in years ahead. Expanding application is the major factor driving this market growth. The growing healthcare expenditure is expected to augment the demand for service robot in medical segment while propelling the professional robot segment. In personal robot segment, education segment is expecting a considerate growth over the projected period. The rapid modernization in educational system across the world and growing number of educational institute drives the segment growth.
By Geography
Geographically, Europe accounted for large market share in 2017 and is also expected to hold a notable position by the end of forecasted period. High speed innovations as well as expanding application of service robot drive the regional market growth. In Europe, robots are increasingly being adopted for education, entertainment and medical applications. Likewise, North America also accounted for considerate share in 2017. Adoption of technology at its early stage in United States and presence of many key players augment the market share. However, APAC is expecting a high growth over the projected period. The rise in automation in logistics industry coupled with growing investments drive APAC service robot 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.
SEGMENTATION
The service robot market has been analyzed through following segments:
By Application
By Application, professional robot accounts for large market share in 2017 and will growth at a considerable rate in years ahead. Expanding application is the major factor driving this market growth. The growing healthcare expenditure is expected to augment the demand for service robot in medical segment while propelling the professional robot segment. In personal robot segment, education segment is expecting a considerate growth over the projected period. The rapid modernization in educational system across the world and growing number of educational institute drives the segment growth.
By Geography
Geographically, Europe accounted for large market share in 2017 and is also expected to hold a notable position by the end of forecasted period. High speed innovations as well as expanding application of service robot drive the regional market growth. In Europe, robots are increasingly being adopted for education, entertainment and medical applications. Likewise, North America also accounted for considerate share in 2017. Adoption of technology at its early stage in United States and presence of many key players augment the market share. However, APAC is expecting a high growth over the projected period. The rise in automation in logistics industry coupled with growing investments drive APAC service robot 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.
SEGMENTATION
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
- By Geography
- North America
- United States
- Canada
- Mexico
- Others
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- Italy
- United Kingdom
- Others
- Middle East and Africa
- Israel
- Saudi Arabia
- South Africa
- Others
- Asia Pacific
- Japan
- China
- India
- Australia
- Others
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Currency
1.5. Assumptions
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Force Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. SERVICE ROBOT MARKET BY OPERATING ENVIRONMENT
5.1. Aerial
5.2. Ground
5.3. Marine
6. SERVICE ROBOT MARKET BY COMPONENT
6.1. Software
6.2. Hardware
6.2.1. Sensor
6.2.2. Control System
6.2.3. Actuator
6.2.4. Others
7. SERVICE ROBOT MARKET BY APPLICATION
7.1. Professional robot
7.1.1. Security and surveillance
7.1.2. Medical
7.1.3. Field robot
7.1.4. Logistics
7.1.5. Others
7.2. Personal robot
7.2.1. Entertainment
7.2.2. Education
7.2.3. Domestic task
7.2.4. Others
8. SERVICE ROBOT MARKET BY GEOGRAPHY
8.1. North America
8.1.1. United States
8.1.2. Canada
8.1.3. Mexico
8.1.4. Others
8.2. South America
8.2.1. Brazil
8.2.2. Argentina
8.2.3. Others
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. Italy
8.3.4. United Kingdom
8.3.5. Others
8.4. Middle East and Africa
8.4.1. Israel
8.4.2. Saudi Arabia
8.4.3. South Africa
8.4.4. Others
8.5. Asia Pacific
8.5.1. Japan
8.5.2. China
8.5.3. India
8.5.4. Australia
8.5.5. Others
9. COMPETITIVE INTELLIGENCE
9.1. Recent Deals and Investment
9.2. Strategies of Key Players
9.3. Investment Analysis
10. COMPANY PROFILES
10.1. iRobot Corporation
10.1.1. Company Overview
10.1.2. Financials
10.1.3. Products and Services
10.1.4. Recent Developments
10.2. Jibo, Inc.
10.2.1. Company Overview
10.2.2. Financials
10.2.3. Products and Services
10.2.4. Recent Developments
10.3. Honda Motors Co., Ltd.
10.3.1. Company Overview
10.3.2. Financials
10.3.3. Products and Services
10.3.4. Recent Developments
10.4. ABB
10.4.1. Company Overview
10.4.2. Financials
10.4.3. Products and Services
10.4.4. Recent Developments
10.5. DJI
10.5.1. Company Overview
10.5.2. Financials
10.5.3. Products and Services
10.5.4. Recent Developments
10.6. KUKA
10.6.1. Company Overview
10.6.2. Financials
10.6.3. Products and Services
10.6.4. Recent Developments
10.7. Future Robot Co. Ltd.
10.7.1. Company Overview
10.7.2. Financials
10.7.3. Products and Services
10.7.4. Recent Developments
10.8. Kongsberg Maritime
10.8.1. Company Overview
10.8.2. Financials
10.8.3. Products and Services
10.8.4. Recent Developments
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Currency
1.5. Assumptions
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Force Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. SERVICE ROBOT MARKET BY OPERATING ENVIRONMENT
5.1. Aerial
5.2. Ground
5.3. Marine
6. SERVICE ROBOT MARKET BY COMPONENT
6.1. Software
6.2. Hardware
6.2.1. Sensor
6.2.2. Control System
6.2.3. Actuator
6.2.4. Others
7. SERVICE ROBOT MARKET BY APPLICATION
7.1. Professional robot
7.1.1. Security and surveillance
7.1.2. Medical
7.1.3. Field robot
7.1.4. Logistics
7.1.5. Others
7.2. Personal robot
7.2.1. Entertainment
7.2.2. Education
7.2.3. Domestic task
7.2.4. Others
8. SERVICE ROBOT MARKET BY GEOGRAPHY
8.1. North America
8.1.1. United States
8.1.2. Canada
8.1.3. Mexico
8.1.4. Others
8.2. South America
8.2.1. Brazil
8.2.2. Argentina
8.2.3. Others
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. Italy
8.3.4. United Kingdom
8.3.5. Others
8.4. Middle East and Africa
8.4.1. Israel
8.4.2. Saudi Arabia
8.4.3. South Africa
8.4.4. Others
8.5. Asia Pacific
8.5.1. Japan
8.5.2. China
8.5.3. India
8.5.4. Australia
8.5.5. Others
9. COMPETITIVE INTELLIGENCE
9.1. Recent Deals and Investment
9.2. Strategies of Key Players
9.3. Investment Analysis
10. COMPANY PROFILES
10.1. iRobot Corporation
10.1.1. Company Overview
10.1.2. Financials
10.1.3. Products and Services
10.1.4. Recent Developments
10.2. Jibo, Inc.
10.2.1. Company Overview
10.2.2. Financials
10.2.3. Products and Services
10.2.4. Recent Developments
10.3. Honda Motors Co., Ltd.
10.3.1. Company Overview
10.3.2. Financials
10.3.3. Products and Services
10.3.4. Recent Developments
10.4. ABB
10.4.1. Company Overview
10.4.2. Financials
10.4.3. Products and Services
10.4.4. Recent Developments
10.5. DJI
10.5.1. Company Overview
10.5.2. Financials
10.5.3. Products and Services
10.5.4. Recent Developments
10.6. KUKA
10.6.1. Company Overview
10.6.2. Financials
10.6.3. Products and Services
10.6.4. Recent Developments
10.7. Future Robot Co. Ltd.
10.7.1. Company Overview
10.7.2. Financials
10.7.3. Products and Services
10.7.4. Recent Developments
10.8. Kongsberg Maritime
10.8.1. Company Overview
10.8.2. Financials
10.8.3. Products and Services
10.8.4. Recent Developments
