Commercial Service Robotics - Worldwide

Revenue in the Commercial Service Robotics market is projected to reach US$20.58bn in 2024.
Medical service robotics dominates the market with a projected market volume of US$12.76bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.86%, resulting in a market volume of US$32.93bn by 2029.
In global comparison, most revenue will be generated United States (US$4.99bn in 2024).

Definition:

The Commercial Service Robotics market presents the market size of service robotics in commercial use cases, e.g., medical robots, logistic robots, and agriculture robots.

A robot is defined as a powered machine that is programmable on two or more axes and has some degree of autonomy; it moves within its environment to perform its programmed tasks.

Additional information:

The market comprises revenues, volume, and the average price per new installed robot. The market displays both B2B and B2C revenues, and the revenue is based on the country’s demand for robots. It is shown in manufacturer prices. Software revenues are included as service robots are mostly delivered with software solutions that have been implemented by the manufacturer.

Key players in the market include Intuitive Surgical, ABB, and Agrobot.

For more information on the data displayed, use the info button right next to the box.

Medical Service Robotics
Logistic Services Robotics
Agriculture Service Robotics
Other Service Robotics

Consumer Service Robotics

The Commercial service robotics market within the Robotics market worldwide is experiencing slow growth due to factors such as limited adoption, high costs, and lack of awareness. However, the increasing demand for efficient and cost-effective solutions in industries like agriculture, logistics, and healthcare could drive growth in the future. Other factors like advancements in technology and government initiatives could also contribute to the market's growth.

Customer preferences: As the demand for automation and efficiency increases in the commercial sector, there is a growing preference for service robots to assist with tasks such as cleaning, delivery, and customer service. This trend is driven by the need for contactless interactions and the desire for a more seamless and convenient experience. Additionally, the adoption of service robots is also influenced by the changing demographics, with an aging population and a rise in single-person households.

Trends in the market: In the global Commercial service robotics Market, there is a growing trend towards using robots for retail and hospitality services, such as customer assistance and housekeeping. This trend is driven by the increasing demand for efficient and cost-effective solutions in these industries. Additionally, there is a rise in the adoption of service robots in healthcare, particularly for tasks such as patient care and medication delivery. These trends are expected to continue, providing significant opportunities for industry stakeholders to expand their offerings and tap into new markets. However, the increasing use of robots in service industries also raises concerns about job displacement and the need for regulations to ensure ethical and responsible use of these technologies.

Local special circumstances: In the Commercial service robotics Market of the Service robotics Market within the Robotics Market, the unique local factors in Japan include its aging population and the high demand for elderly care. This has led to the development of service robots specifically designed for assisting with daily tasks and companionship for the elderly. Additionally, Japan's strict regulations on foreign workers has created a greater need for automation in industries such as manufacturing and agriculture, driving the demand for commercial service robots.

Underlying macroeconomic factors: The growth of the Commercial service robotics market is also influenced by macroeconomic factors such as technological advancements, regulatory support, and investment in automation infrastructure. Countries with favorable regulatory environments and strong investment in automation technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing demand for efficient and cost-effective solutions in various industries, such as manufacturing, healthcare, and logistics, is driving the adoption of service robotics globally.

Data coverage:

The data encompasses B2B and B2C revenues. Figures are based on the country’s demand for robotics in manufacturer prices.

Modeling approach / Market size:

Market sizes are determined through a regional bottom-up approach, and further detailed by a top-down rationale for each market segment. As a basis for evaluating markets, we use trade data of the respective economic sector. Furthermore, we use relevant key market indicators such as level of automation and digitization or the economy composition to estimate each country's specialization in demand and supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques but primarly exponential smoothing. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Despite the frightening, almost Terminator-esque, way the phrase “there are robots everywhere” might sound, the increased use of robotics has been a boon to both consumers and enterprises worldwide. The industrial robot market has seen steady growth across the globe and is expected to continue growing as automation becomes ever more vital to businesses. This stems largely from mechanical automation, reducing production costs and improving efficiency. This increased demand due to greater automation, especially in the United States and Europe, is likely to mean that the price increase per robot unit will remain modest.