Market Research Future Service Robotics Market 2019

Service Robotics Market Research Report- Forecast 2022
Market Research Future published a research report on “Service Robotics Market Research
Report- Forecast 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
Market Scenario:
Service robot can be defined as a robot that performs useful tasks for humans or equipment
excluding industrial automation application. Service robotics is differentiated into two parts as
personal/domestic service robots and professional service robots. Service robots that are used for
performing daily tasks, non-commercial use, and others are the personal/domestic service robots.
Whereas service robots that perform commercial tasks and are operated by trained operators are
the professional service robots.
The study indicates that technological advancements, innovation and high demands for automation
are the major driving factors for the service robotics market. The study indicates that many
organizations face challenges of finding skilled workforce, high labor costs, maintaining quality of
service, and others, to overcome these challenges service robotic is growing significantly in the
market. Moreover high investments in R&D, growing awareness and human safety concerns are
driving the service robotics market.
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Apart from it, developments in computer aided systems, internet of things (IoT), engineering
technologies are the factors driving service robotics. The decreasing human labor has led to a threat
in service robotics. Lack of awareness and scarcity of investment for many companies could be the
major restraints for service robotics.
The Service Robotics Market is expected to grow at USD ~20 Billion by 2022, at ~15% of CAGR
between 2016 and 2022.