Hexa Research
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The worldwide service robotics market is segmented as per applications and geographies . Applications are split into personal and professional . Personal service robots include those for the purpose of household or entertainment . Home security & surveillance are expected to fetch substantial revenues in the coming years .
Professional service robots perform repetitive / hazardous tasks in industries . Their applications encompass field , defense , logistics , underwater , medical , construction & demolition , mobile platform , and others .
Field robots are used in forestry , milking , agriculture , and milling & mining . They held over 25 % of the market revenues in 2014 . Underwater applications comprise remotely operated vehicle , unmanned surface vehicles , and autonomous underwater vehicles . Geographical markets for service robotics constitute Europe , North America , Latin America , Asia Pacific , and MEA ( the Middle East & Africa ). North America is likely to grow at a considerable pace over the forecast period . This may be credited to rising demand from defense , agriculture , medical , and other applications . Product development and rapid industrialization are the chief propellers of regional demand . Asia Pacific is anticipated to be the second largest geographical segment till 2024 on account of expanding venture capital investments and a booming manufacturing sector in emergent economies like India and China . Europe would witness lucrative growth opportunities owing to the growing automotive industry .
The worldwide service robotics market is fragmented with various large and small manufacturers . iRobot is the global leader . Other prominent players are Fujitsu Frontech Ltd ., Hanool Robotics Corp ., Toyota Motor Corporation , Honda Motor Co . Ltd ., and Yujin Robot Co . Ltd . They emphasize on development of new products to expand their market share .
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