The global commercial service robot market is undergoing several transformations. Over the last few decades, the global commercial service robot market has witnessed the introduction of disruptive technologies such as enhancement of AI along with hardware integration in commercial service robots. Smart robots that hasten several manual operations for humans is one of the most disruptive technologies. At present, the market is witnessing several innovations, with the introduction of cobots (collaborative robots) being one of them. The growing demand and utilization of commercial service robots are increasing on account of rapid urbanization and rising living standards. Furthermore, the industry is witnessing growth due to high applications in military, agricultural, and commercial end-user segments. The other factors fueling the demand include a preference for eco-friendly technology and high initial investment. Over the past few decades, the market has witnessed the introduction of disruptive technology, along with hardware integration. Hence, the increasing emphasis on research and development, coupled with the adoption of smart techniques and automation, has expanded the scope of the robotics industry.
The healthcare sector has witnessed significant growth in recent years. The increasing emphasis on the development of new medical treatment has also widened the scope for commercial service robot devices. After the incorporation of machine learning and artificial intelligence in the medicare sector, the scope of robotic surgery and medical robotics is increasing. The continuous focus on research and development has pushed the market to develop innovative, automated products catering to the healthcare sector. The high success rate of robotic surgeries is driving the vendors to develop automated surgery solutions, thereby increasing the demand for service robots.
- Defense, healthcare, and logistics sectors are major end-users with promising growth prospects during the forecast period.
- Continuous innovations and R&D are expected to unfold several opportunities for vendors.
- Europe and North America are the key markets for commercial service robot devices
- Vendors are focusing on promoting their products via online channels to gather maximum customer coverage.
- The market dynamics are favorable in developing countries. China and Japan support the growth with high investment and a proper regulatory framework.
COMMERCIAL SERVICE ROBOT MARKET SEGMENTATION
This research report includes detailed segmentation by application, distribution, operation, and geography.
INSIGHTS BY APPLICATION
The healthcare segment has witnessed significant growth in the past years. It is expected to grow during the forecast period due to the growing number of intuitive surgical robot addictions and the increasing demand for rehabilitation robots. Their services in hospitals help to minimize errors and follow prescribed regulations. Another key factor, which is likely to drive the segment, is the increased investment in healthcare automation.
The global defense robot market has achieved moderate growth. However, the need to improve the defense and surveillance capabilities of the defense sector is expected to increase the segment growth. The increased application of unmanned aerial vehicles (UAV) for defense and security world over is expected to drive the segment.
The increase in efficiency and productivity is a major factor in the adoption of robotic systems in the logistics sector. The primary application is the use of mobile automated guided vehicles (AGVs) in warehouses and storage facilities to transport goods. Companies, nowadays, are emphasizing on the usage of smart and automated warehouse handling methods. Hence, major firms are focusing on these machines to boost factory and warehouse logistics.
Large facility construction robots have witnessed significant demand over the last years. For instance, as the development of commercial nuclear reactors has surged, big construction companies are focusing on buying the potential equipment such as big construction robots to meet industry demand. Currently, the world has more than 100 nuclear power stations, which are expected to grow even further during the forecast period. This is intended to create more demand for construction robots.
The agriculture sector transforming from conventional methodologies to agri-tech methods, the market for agriculture robots is gaining. Agricultural robots experience major applications in indoor agriculture to manage returns and other agricultural processes effectively. The emergence of greater farmland in APAC is a significant driver for the growth of this segment. Government agencies are also concentrating on implementing strategies to increase agricultural production in developing economies to meet nutritional demand in the population.
INSIGHTS BY OPERATION
Surface robots are observing high adoption in the operational segment. The segment is likely to witness innovations in the coming years, which is expected to push the demand across the globe. Further, the growing emphasis on adopting these devices in the entertainment and education sector is projected to propel the market worldwide.
Aerial robots are heading toward significant growth as they can be used for searching, surveillance, mapping, and inspection and maintenance services and tasks inspection, etc. The growing investment in sophisticated equipment is likely to provide numerous opportunities to vendors, thereby accelerating growth prospects. The market is witnessing increased competition, which is expected to decrease the cost of commercial drones.
The autonomous underwater vehicle segment is likely to gain strong traction during the forecast period. An increase in the use of underwater robotic technology for intelligence, surveillance, inspection, underwater repair maintenance, navigations, communication, and other activities in military and commercial exploration applications is expected to boost the growth during the forecast period. Furthermore, high investments in the defense sector in different countries is expected to market growth
INSIGHTS BY DISTRIBUTION
Commercial service robots are prominently sold through dealer distribution channels and retail stores. Well established retail channels have promoted the sale through indirect channels such as government agencies and distributors. In 2018, the indirect sales channel segment was the largest revenue contributor to the global commercial service robot market share. The direct sales segment is facing intense competition from the retail segment. The online segment is witnessing high traction from the US and other APAC countries, particularly China and India.
INSIGHTS BY GEOGRAPHY
North America has been at the forefront of technological advancement and development. Although the sales of emerging brands remain moderate in the North America region, the growing replacement demand for conventional processes is likely to fuel the market growth during the forecast period. The US and Canada is expected to witness a stable growth rate in the next few years. The US is a key country with regard to the high demand for commercial service robots. Considering the tech-savvy population and the highly embracing culture of technological advancements in the country, the demand can be expected to rise significantly in the times to come.
The increasing adoption of automated machines is growing in APAC at a rapid pace due to the increasing infrastructure development, leading to the establishment of advanced commercial spaces. The major reason for the growth in Europe is due to the high adoption in new commercial sectors.
The major reason for the increase in demand in MEA is due to the continuous focus on compatible infrastructure development. This is leading to the development of advanced commercial spaces.
INSIGHTS BY VENDORS
The global commercial service robot market is currently witnessing intense competition. The rapidly changing market dynamics concerning product innovation and advancement is acting as a catalyst to intensify the competition among existing players. Consumers have several choices with respect to product availability. The present scenario is driving vendors to alter and redefine their unique value proposition to achieve a strong presence.
The market showcases flexible behavior in terms of the adoption of new innovative products. The competition is expected to intensify further with an increase in product/service extensions, innovations, and M&As. Northrop Grumman Corp., KUKA AG, Kongsberg Maritime, Intuitive, Parrot are the key market players
The global commercial service robot market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
Market Segmentation by Distribution
- Indirect Sales
- Government Dealers
- Direct Sales
- Mass Market Players
- Electronic Stores
- Defense, Rescue, and Security
- North America
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa