Service Robotics Market to grow at a CAGR of 22.58% by 2025|Increasing Adoption of Robotics in Diverse Fields of Application to Boost Growth|17000+ Technavio Reports

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NEW YORK, Nov. 5, 2021 /PRNewswire/ — The service robotics market is expected to grow by USD 35.27 bn from 2020 to 2025. Technavio’s latest market research report estimates that the service robotics market will progress at a CAGR of  22.58%. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

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Service Robotics Market 2021-2025:Scope

The report also covers the following areas:

• Service Robotics Market size
• Service Robotics Market trends
• Service Robotics Market industry analysis

Service Robotics Market 2021-2025: Vendor Analysis
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. To help businesses improve their market position, Technavio’s report provides a detailed analysis of around 25 vendors operating in the market. CYBERDYNE Inc., Daifuku Co. Ltd., DeLaval International AB, Exyn Technologies, Intuitive Surgical Inc., Irobot Corp., Kongsberg Gruppen ASA, Northrop Grumman Corp., SoftBank Robotics Group Corp., and SZ DJI Technology Co. Ltd. are some of the major market participants.

Service Robotics Market 2021-2025: Drivers & Challenges
The growing demand for robotic automation processes, increasing adoption of robotics in diverse fields of application, and the increasing use of IoT in robots for cost-effective predictive maintenance will offer immense growth opportunities for Service Robotics Market. However, the high cost associated with robotic systems will hamper the market growth. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.

Service Robotics Market 2021-2025: Key Regions
44% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for service robotics in APAC. The increasing adoption of robotics in diverse fields of application will facilitate the service robotics market growth in APAC over the forecast period. 

Service Robotics Market 2021-2025: Segmentation

• Application
• Professional Robots
• Personal Robots
• Geography
• APAC
• Europe
• North America
• MEA
• South America

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Service Robotics Market 2021-2025: Key Highlights

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will assist service robotics market growth during the next five years
• Estimation of the service robotics market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the service robotics market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of service robotics market vendors

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About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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