Service Robotics - North America | Statista Market Forecast

Revenue in the Service Robotics market is projected to reach US$10.08bn in 2024.
Commercial service robotics dominates the market with a projected market volume of US$6.15bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.88%, resulting in a market volume of US$15.43bn by 2029.
In global comparison, most revenue will be generated United States (US$8.68bn in 2024).

Definition:

The Service Robotics market presents the market size of robotics in service use cases, e.g., commercial service robots or consumer service robots. Service robots are intended for personal or professional use and are designed to assist humans in carrying out certain tasks.

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.

Structure :

The Commercial Service Robotics and Consumer Service Robotics markets can be found within the Service Robotics market. The Commercial Robotics market is further split into a range of service industries that have the highest adoption of robots. This includes agriculture service robotics, logistics service robotics, medical service robotics, and all other service industries, which are all covered by the Other Industry Robotics market.

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 robot. 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 iRobot.

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

Commercial Service Robotics
Consumer Service Robotics

robots used in industrial use cases

The service robotics market in North America is experiencing steady growth, influenced by factors such as increasing demand for digital solutions, rising awareness about the benefits of robotics in healthcare, and the convenience of online services. However, the market's growth rate is currently negligible, potentially impacted by factors such as high initial costs and limited adoption in certain industries.

Customer preferences: As consumer preferences continue to shift towards convenience and efficiency, the service robotics market within the robotics market is experiencing a rise in demand for automated solutions. This is particularly evident in the healthcare sector, where there is a growing need for remote patient care and monitoring. Additionally, with an aging population and increasing labor costs, businesses are turning to service robots to improve productivity and reduce operational costs.

Trends in the market: In North America, the Service robotics Market within the Robotics Market is experiencing a surge in demand for autonomous mobile robots (AMRs) in various industries such as healthcare, retail, and logistics. This trend is driven by the need for increased efficiency and productivity, as well as the rising adoption of Industry 4.0 technologies. AMRs are expected to continue their upward trajectory, with the potential to revolutionize the way tasks are performed in these industries. This presents significant opportunities for industry stakeholders, including manufacturers, system integrators, and service providers, to capitalize on this growing trend and stay competitive in the market.

Local special circumstances: In North America, the Service robotics market is experiencing significant growth due to the region's advanced technological infrastructure and strong demand for automation solutions. The market is also influenced by the region's strict regulatory environment, which promotes the adoption of safe and reliable robotic systems. Additionally, North America's cultural acceptance of new technologies and willingness to invest in innovative solutions has contributed to the market's rapid expansion.

Underlying macroeconomic factors: The growth of the Service Robotics Market is heavily influenced by macroeconomic factors such as technological advancements, government policies, and investment in research and development. Countries with strong economic growth and supportive policies towards automation and robotics are experiencing faster market growth compared to regions with economic challenges and limited investment in new technologies. Additionally, the increasing demand for efficient and cost-effective solutions in industries such as healthcare, retail, 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.