Service Robotics Market Set to Soar, Expected to Reach USD 173 Billion by 2030

Service Robotics Market Set to Soar, Expected to Reach USD 173 Billion by 2030

 

According to Next Move Strategy Consulting, the global Service Robotics Market, is projected to witness an impressive growth trajectory, reaching USD 173 billion by 2030. This growth represents a robust Compound Annual Growth Rate (CAGR) of 21% by 2030, according to the latest market analysis.

Service robots, designed to perform a wide range of assistive tasks, are revolutionizing industries by offering autonomous solutions for menial, repetitive, dangerous, or time-consuming jobs. These robots, often equipped with advanced control systems and manual override capabilities, are designed to help improve productivity and efficiency across various sectors including healthcare, construction, logistics, and domestic services. By streamlining operations and enhancing service quality, service robots are expected to play a critical role in the future of work.

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Market Dynamics and Trends

The increasing demand for service robots is largely driven by advancements in technology, such as the Internet of Robotic Things (IoRT), which allows for remote operation and maintenance optimization. Additionally, rapid developments in artificial intelligence and automation are fueling the growth of the service robotics market. Another contributing factor is the rising scarcity of trained labor, particularly in industries like healthcare, where service robots are helping to fill gaps in medical and support services.

The aging population is another key driver. The rising demand for robots that can assist the elderly, as well as those with disabilities, is accelerating the adoption of robots like Lovot, Miko, and Misa. These robots are not only providing companionship but also serving as vital aids in daily activities. However, high initial costs and maintenance challenges may limit the widespread adoption of these technologies in the short term.

Despite these challenges, emerging technologies such as swarm intelligence—which allows robots to perform complex tasks like fire-fighting, explosive disarmament, and minimally invasive surgeries—are expected to offer significant growth opportunities for the service robotics market in the coming years.

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Market Segmentation

The service robotics market is segmented into various categories based on type, operating environment, component, and application.

  • By Type: Personal Robots and Professional Robots
  • By Operating Environment: Aerial, Marine, and Ground
  • By Component: Hardware (cameras, airframes, sensors, etc.) and Software
  • By Application: Field, Logistics, Domestic, Defense, Healthcare, Inspection and Maintenance, Construction, Education, Entertainment, and others.

Geographical Analysis

The Asia-Pacific region dominated the global service robotics market in 2021 and is expected to maintain its leadership throughout the forecast period. The region's dominance can be attributed to major manufacturing countries such as Japan, China, and South Korea. Japan, in particular, is a global leader in industrial robot production, while the adoption of service robots in sectors such as healthcare and construction in China and India continues to grow rapidly.

North America is also set to exhibit significant growth, driven by innovations in the U.S. such as contactless delivery robots and advanced robotic-assisted healthcare technologies. The growing investment in assistive technology research, along with increasing healthcare sector adoption, is expected to fuel further demand in this region.

Competitive Landscape

Key players in the service robotics market include iRobot Corporation, Intuitive Surgical, Inc., SoftBank Robotics Group, DeLaval, DJI, ABB Ltd., and Samsung, among others. These companies are actively engaging in strategic partnerships and joint ventures to strengthen their market positions.

For example, SoftBank Robotics Group entered a collaboration with Bear Robotics in 2020 to introduce Servi, a robot designed for the food service industry, while ABB Ltd. partnered with Covariant to bring AI-powered robots into dynamic environments such as warehouses.

Conclusion

The service robotics market is poised for substantial growth, driven by advancements in AI, automation, and IoRT, along with the growing demand for robots in various industries. While challenges such as high initial investment and maintenance costs remain, the expanding use of robots for healthcare, construction, and elderly assistance offers vast potential for market players to capitalize on emerging opportunities.

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