Service Robotics Market size forecast to grow at over 17.8% CAGR Service Robotics Market size forecast to grow at

Service Robotics Market size forecast to exceed USD
21.7 Billion by next seven years: Global Market Insights
Inc.
Global Service Robotics Market size is predicted to touch $21.71 billion mark by end
of 2022 and register more than 17.81% CAGR during forecast timeframe. Favorable
government policies supporting creation of service robots along with steady demand
from defense sector is predicted to stimulate the industry demand in future. The
reason for this is reduction of human involvement in defense sector resulting in less
number of causalities due to military operations. Unmanned defense vehicles are
mainly deployed in military sector to perform all kinds of activities.
Medical robotic system is a growing field intended to function in line with MRI
(Magnetic Resonance Imaging), fluoroscopy, ultrasound imaging and CT
(Comotography) scan. Growing technological breakthroughs like magnetic
resonance imaging and 3D ultrasound are predicted to promote industry expansion
as these technologies ease real time imaging for future reference and effective
process planning.
Positive initiatives like innovation program and civilian research by European Union
in robotics is predicted to promote industry growth and can potentially generate
greater than 241,000 jobs. All these factors are predicted to drive global service
robotics market trends. But modernized cognitive competencies and lack of
customization is predicted to inhibit industry growth during forecast timeframe.

Application Overview
Global service robotics market is segmented into different applications like personal
service robotics application and professional service robotics application.
Personal service robotics segment is further sub-segmented into household
applications and entertainment segment. With significant gains, personal service
robotics market share is predicted to surpass $6.81 billion by end of forecast
timeframe.
Professional service robotics segment was evaluated $4.51 billion for 2014. It
include mobile platforms, medical applications, military applications, logistics,
underwater systems, demolition & construction and mobile platforms. In 2014, there

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