The professional service robots global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Professional Service Robots Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The professional service robots market size has grown exponentially in recent years. It will grow from <b>$46.2 billion in 2023 to $64.29 billion in 2024 at a compound annual growth rate (CAGR) of 39.1%. </b> The growth in the historic period can be attributed to labor shortages, industry-specific solutions, cost reduction, aging population, safety and efficiency.
The professional service robots market size is expected to see exponential growth in the next few years. It will grow to <b>$244.91 billion in 2028 at a compound annual growth rate (CAGR) of 39.7%. </b> The growth in the forecast period can be attributed to ai advancements, healthcare innovation, logistics and warehousing, collaborative robots (cobots), autonomous vehicles. Major trends in the forecast period include customization and adaptability, regulatory adaptation, personal assistance robots, remote operations and monitoring, agricultural robotics.
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Scope Of Professional Service Robots Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Professional Service Robots Market Overview
Market Drivers –
Increasing demand for automation across industries is expected to propel the growth of the professional service robot market going forward. Automation refers to technological applications in which human input is minimal. This encompasses information technology (IT), business process automation (BPA), automation, and personal applications such as home automation. Automation is becoming more common across various industries because it brings benefits such as enhanced production rates and productivity, more efficient use of materials, improved safety, shorter workweeks for labor, better product quality, and shorter manufacturing lead times. For instance, in June 2021, according to Bank of America analysis, a US-based investment bank and financial services holding company, domestic software firms that employ over 16 million are set to slash headcount by 3 million by 2022, which would help them save $100 billion. Roughly 0.7 million roles are likely to be replaced by Robotic Process Automation(RPA) alone, with the remainder attributable to other technical upgrades and upskilling by local IT players, while RPA will have the greatest impact in the US. Therefore, increasing demand for automation across industries drives the professional service robot market.
Market Trends –
Major companies operating in the professional service robot market are developing innovative products such as state-of-the-art robots to meet larger customer bases, more sales, and increase revenue. A state-of-the-art robot refers to a highly advanced and technologically sophisticated robotic system that incorporates cutting-edge features, capabilities, and innovations, often representing the pinnacle of current technological advancements in robotics. For instance, in November 2022, Amazon, a US-based e-commerce company, launched Sparrow, an intelligent robotic system. The distinctive feature of Sparrow, Amazon’s pioneering robotic system in warehouses, lies in its capability to autonomously identify, choose, and manage individual products within its inventory. Representing a significant leap in industrial robotics technology, Sparrow utilizes computer vision and artificial intelligence (AI) to recognize and handle an extensive array of millions of items.
The professional service robots market covered in this report is segmented –
1) By Type: UAV, Unmanned Ground Based Vehicles, Demining Robots, Defense Robot, Construction Robots, Other Types
2) By Offering: Hardware, Software
3) By Application: Oil And Gas, Construction And Building, Mining And Metallurgical, Defense And Military, Automotive, Medical, Logistics, Other Applications
4) By End-use: Residetial, Commercial, Industrial
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Regional Insights –
North America was the largest region in the professional service robots market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the professional service robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the professional service robots market report are Northrop Grumman Corporation, Boston Dynamics Inc., Daifuku Co. Ltd., Aethon Inc., Electrolux AB, Kuka AG, iRobot Corporation, Robert Bosch GMBH, Elbit Systems Ltd., Gecko Systems International Corporation, Yujin Robot Co. Ltd., Cyberdyne Inc., Ontario Drive & Gear Ltd., Softbank Robotics Group, Ryonic Robotics, Brokk AB, Husqvarna Group, Beijing Borui Intelligent Control Technology, Honeybee Robotics LLC, Pure Technologies Ltd., Hanool Robotics Crop., Diakont, Conjet AB, TopTec Spezialmaschinen GmbH, ULC Robotics International Limited, Giant Hydraulic Tech Co. Ltd., Intuitive Surgical Inc., JD.com Inc., Samsung Electronics Co. Ltd., SZ DJI Technology Co. Ltd., Kongsberg Maritime AS, DeLaval International AB, Exyn Technologies, XAG Co Ltd., Diligent Corporation
Table of Contents
1. Executive Summary
2. Professional Service Robots Market Report Structure
3. Professional Service Robots Market Trends And Strategies
4. Professional Service Robots Market – Macro Economic Scenario
5. Global Professional Service Robots Market Size and Growth
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31. Global Professional Service Robots Market Competitive Benchmarking
32. Global Professional Service Robots Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Professional Service Robots Market
34. Professional Service Robots Market Future Outlook and Potential Analysis
35. Appendix
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