Professional Service Robots Market

Professional Service Robots Market to Hit $182.0 Billion By 2027

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The global Professional Service Robots market size is expected to be worth around US$ 182.0 billion by 2027, according to a new report by Vision Research Reports.

The global Professional Service Robots market size was valued at US$ 12.2 billion in 2019 and is anticipated to grow at a CAGR of 41.0% during forecast period 2020 to 2027.

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Growth Factors

Professional service robots have experienced widespread adoption among several industries owing to benefits such as the delivery of high-quality services, improved usability, reliability, and reduced operational costs and human errors. Moreover, the industry is witnessing technological revolution enhancing the professional service robot capabilities driven by innovations in machine learning, adaptive computing and vision system, and (AI).

The logistics and healthcare sectors are driving the market growth as these robots hit the mainstream applications in these sectors and are expected to become a common practice on job sites and commercial venues. The market is expected to have a strong growth not only in the high-risk industry sectors but also in lifestyle and healthcare applications.

Insights

The logistics application segment size is expected to reach USD 77.5 billion by 2027. The professional service robot market experienced robust growth in the logistics sector with more than 160,000 units installed globally in 2019. Logistics automation is gaining traction owing to the customer-driven economy, which demands flexible and speedy delivery of goods. Automated guided vehicles (AGVs) are primarily used in warehouse and storage facilities to transport the goods.

Healthcare is expected to witness steady growth over the forecast period. The professional service robots are used in hospitals to improve the level of patient care by assisting the medical staff and providing operational efficiencies. Mobile medical robots are used to deliver medication and other sensitive materials in hospitals. Moreover, professional service robots are playing a crucial role in fighting the coronavirus healthcare crisis. Increasing demand for professional service robots due to this pandemic situation is expected to drive the growth in the healthcare sector over the forecast period.

Ultra violet disinfection (UVD) professional service robots have experienced high demand in the COVID-19 pandemic. UVD robots assist cleaning staff by moving across critical surface in hospitals and other areas to kill specific viruses and bacteria. The UVD robot can be used in office spaces, retail stores, airports, and other public areas. Several hospitals in China have ordered more than 2,000 UVD robots by Blue Ocean Robotics to fight against coronavirus and other harmful microorganisms. Furthermore, these robots can be used for the safe distribution of hospital material in isolation zones. As a result, the demand for professional service robots in healthcare applications is expected to witness an upsurge in 2020.

Regional Insights

Europe captured the largest revenue of USD 60 billion as well as the largest volume share in 2019 with Germany at the forefront. The region comprises nearly 42% of professional service robot manufacturers catering to various industry verticals globally. Moreover, around half of the logistics system manufacturers are European companies constituting strong growth in the logistics sector. The region has interdisciplinary research capabilities in the field of robotics technology with several robotics laboratories, often accumulated with spin-off companies. Bristol Robotics Laboratory is one such example, which was established in 2006 as a collaboration between the University of Bristol and the University of the West of England. The laboratory is currently involved in a research project addressing key areas of robot capabilities and applications.

The Asia Pacific region is expected to grow at the highest CAGR during the forecast period. The presence of countries like Japan, China, and South Korea, which account for significant share are contributing to regional growth. Besides, the rise in disposable income in fast-growing developing countries such as India and Singapore is presumed to increase the demand for professional service robots in the coming years. Moreover, the region has witnessed significant growth in the oil and gas industry in the past couple of years, which is leading to high demand for inspection robots such as autonomous underwater vehicles (AUVs) and remotely operated vehicles (ROVs). The increasing trend of automation in Australia, India, and China, is further boosting the market growth in the region.

Key Players

  • Daifuku Co. Ltd.
  • iRobot Corporation
  • KUKA AG
  • Northrop Grumman Corporation
  • Robert Bosch GmbH

Market Segmentation

Professional Service Robots Application Outlook 

  • Logistics
  • Healthcare
  • Military & Defense
  • Inspection & Maintenance
  • Customer Service
  • Field Robots
  • Others

Professional Service Robots Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • Sweden
  • Asia Pacific
    • China
    • Japan
    • South Korea
  • Latin America
    • Mexico
    • Brazil
  • Middle East and Africa

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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