Service Robotics Market Analysis

Service Robotics Market Analysis

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Based on professional robots, the service robotics market is segmented into defense, medical, transportation & logistics, field, hospitality, professional cleaning, robots for public environment. The medical segment held a market revenue of over USD 10 billion in 2022. It is expected to grow at a lucrative pace by 2032. Medical robots assist with patient care, surgery, diagnostics, and the transportation of medical supplies. These robots can assist patients with exercises, gait training, and therapeutic activities. Advancements in this field include wearable robotic exoskeletons, personalized therapy plans based on patient data, and gamification elements to enhance patient engagement. These robots can perform minimally invasive surgeries with smaller incisions, reducing patient trauma & recovery time. They are designed to navigate challenging environments and provide support in critical situations. Diagnostic robots equipped with advanced sensors & imaging technologies can assist medical professionals in gathering patient data, such as measuring vital signs, capturing images & analyzing data in real-time, for diagnostic purposes.
 

Based on the components, the service robotics market is divided into robots and peripheral. The robots segment held a market revenue of over USD 30 billion in 2022 and is expected to witness a CAGR of over 20% from 2023 to 2032. Robots include professional and personal robots that growing due to various factors. On the professional front, industries including healthcare and logistics increasingly rely on robots to perform specialized tasks, enhance efficiency, and reduce operational costs. The rise of personal service robots is driven by consumer desire for convenience and automation in daily life. These robots can help with household chores as well as provide companionship for the elderly, and even education & entertainment. Advancements in artificial intelligence, natural language processing, and computer vision have made personal service robots more capable & user-friendly, contributing to their growth. Growth in both professional and personal service robotics is a result of technological advancements and the increasing recognition of robots as valuable tools for improving productivity & quality of life.
 

North America held a significant service robotics market share of over 34% in 2022. North America, particularly the U.S., is a hub for technological innovation and has a robust ecosystem of research institutions & tech companies focusing on robotics development. These factors foster innovation and drive the growth of service robotics. The growing aging population in North America is increasing the demand for healthcare and elderly care services. Service robots, such as robotic caregivers & medical assistants, are being developed to address these needs and the logistics & e-commerce sectors are expanding rapidly, requiring automation for order fulfillment and last-mile delivery. Service robots play a crucial role in improving operational efficiency and meeting consumer demands. North American companies are investing in robotics to remain competitive globally, further boosting the regional market during the forecast period.