Service Robotics - United States | Statista Market Forecast

Revenue in the Service Robotics market is projected to reach US$8.68bn in 2024.
Commercial service robotics dominates the market with a projected market volume of US$4.99bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.07%, resulting in a market volume of US$13.40bn 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.

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Commercial Service Robotics
Consumer Service Robotics

robots used in industrial use cases

The Service Robotics market in the United States is experiencing sluggish growth, influenced by factors such as slow adoption of digital technologies, lack of health awareness among consumers, and limited convenience from online services. These challenges are particularly evident in the sub-markets of Commercial and Consumer robotics, resulting in a negligible growth rate overall.

Customer preferences: The Service robotics Market within the Robotics Market market has seen a rise in demand for automation and artificial intelligence solutions, driven by the need for efficiency and cost-effectiveness. With the increasing adoption of smart homes and smart cities, there is a growing preference for service robots to assist with household tasks and improve overall quality of life. Additionally, the aging population in the US has led to a greater demand for healthcare and eldercare robots, providing personalized care and companionship to seniors.

Trends in the market: In the United States, the Service robotics Market within the Robotics Market is experiencing a surge in demand for automation and autonomous systems in industries such as healthcare, logistics, and manufacturing. This trend is driven by the need for increased efficiency, cost-effectiveness, and safety. Additionally, advancements in artificial intelligence and machine learning are enabling robots to perform more complex tasks, leading to their widespread adoption. This trend is expected to continue in the coming years, offering significant opportunities for stakeholders in the service robotics market.

Local special circumstances: In the United States, the Service robotics market is heavily influenced by the advanced technological infrastructure and high levels of investment in research and development. Additionally, the country's large and diverse population drives demand for a wide range of service robots, including those for healthcare, education, and personal assistance. The regulatory environment also plays a significant role, with strict safety and privacy laws shaping the development and use of service robots in various industries.

Underlying macroeconomic factors: The Service robotics Market within the Robotics Market in the United States is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. With the United States being a global leader in technology and innovation, the country's strong economic health and favorable fiscal policies have contributed to the growth and adoption of service robotics in various industries. Moreover, the increasing demand for automation and the need for cost-efficient solutions in the US market have also played a significant role in driving the demand for service robotics.

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.