The Global Commercial Service Robot Market to Generate Revenues of Around $20.5 Billion by 2025 - Market Research by Arizton
CHICAGO, Nov. 26, 2019 /PRNewswire/ -- According to Arizton's recent research report, Commercial Service Robot Market - Global Outlook and Forecast 2020-2025 is expected to grow at a CAGR of more than 14% during the forecast period.
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Key Highlights Offered in the Report:
-- The global commercial service robot market would realize an absolute
growth of 240% - a leap of over $14 billion revenue between 2017 and
2024.
-- Buoyed by the demand from the logistics and healthcare segment along
with increasing installations in hospitals & warehouses, the overall
shipment of commercial service robots will reach over 2 million units by
2025, registering an absolute growth of 515% between 2019 and 2025.
-- Registering a high growth CAGR of about 26% between 2019-2025, the
global market for logistics robots accounted for a majority share in
terms of revenue in 2019 and they will continue to erode the market
share of other segments.
-- The surface-based commercial service robots offer the highest future
revenue projection of over $8 billion between 2019-2025 owing to the
major growth tractions in the large venues and events management.
-- Aided by the burgeoning demand for Agri robots, the market in Latin
America is likely to register highest revenue CAGR of about 19% during
the forecast period and would provide vast opportunities for vendors.
-- With over 55% of the market revenue coming from the US and Europe,
vendors have to look upon innovative strategies, promotional measures,
and cost-effective models to create tractions in the developing APAC
markets such as India and China.
Key Offerings:
-- Market Size & Forecast by Revenue | 2019-2025
-- Market Dynamics - Leading trends, growth drivers, restraints, and
investment opportunities
-- Market Segmentation - A detailed analysis by application, distribution,
operation, and geography.
-- Competitive Landscape - Profile of 5 key vendors and 23 other vendors.
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Commercial Service Robot Market - Segmentation
-- The increase in efficiency and productivity is a major factor in the
adoption of robots in the logistics sector. The primary application is
the use of mobile automated guided vehicles (AGVs) in warehouses and
storage facilities to transport goods.
-- Surface robots are observing high adoption in the operational segment.
The segment is likely to witness innovations in the coming years, which
is expected to push the demand across the globe. Further, the growing
emphasis on adopting these devices in the entertainment and education
sector is projected to propel the market worldwide.
-- In 2019, the indirect sales channel segment was the largest revenue
contributor to the global commercial service robot market. The direct
sales segment is facing intense competition from the retail segment.
Market Segmentation by Distribution
-- Indirect Sales
-- Government Dealers
-- Dealers/Distributors
-- Direct Sales
-- Mass Market Players
-- Electronic Stores
-- Online
Market Segmentation by Application
-- Healthcare
-- Defense, Rescue, and Security
-- Logistics
-- Construction
-- Field
-- Others
Market Segmentation by Operation
-- Surface
-- Aerial
-- Marine
Commercial Service Robot Market - Dynamics
Automation and mobile robotic solution have transformed the warehouses across the globe. The big online shopping and shipping companies has fastened their delivery process with the help of automated logistic robots. The market preference for logistic robots have witnessed a significant growth in past years. For instance, logistics robots experienced robust growth in 2017 with more than 65,000 units installed across the globe. The prime reason behind this potential shift in the global market is logistics robots optimize the way goods are handled and transported through the supply chain. In addition, it is often used to organize and transport goods, as an intralogistics system, in warehouses and storage facilities, but also in other settings. Logistics robots deliver much higher uptime rates than manual work, leading to substantial productivity gains and profitability for robots that deploy logistics
Key Drivers and Trends fueling Market Growth:
-- Increasing Use of Robots in Education, Research, Defense & Security
-- High Demand from the Medical & Healthcare Sector
-- Growing Demand for Robotic Products in Military & Commercial Use
-- Growth Potential Across Developing Nations
Commercial Service Robot Market - Geography
North America has been at the forefront of technological advancement and development. The region, which comprises the US and Canada, is expected to witness a stable growth rate in the next few years. The US is a key country with regard to the demand for commercial service robots. Considering the tech-savvy population and the highly embracing culture of technological advancements in the country, the demand can be expected to rise significantly in the times to come.
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Market Segmentation by Geography
-- North America
-- US
-- Canada
-- Europe
-- Germany
-- UK
-- France
-- Spain
-- Italy
-- Nordic
-- APAC
-- China
-- Japan
-- India
-- South Korea
-- Australia
-- Latin America
-- Brazil
-- Mexico
-- Argentina
-- Middle East & Africa
-- Saudi Arabia
-- South Africa
-- UAE
Major Vendors
-- Northrop Grumman Corp.
-- KUKA AG
-- Kongsberg Maritime
-- Intuitive
-- Parrot
Other vendors include - GeckoSystems Intl. Corp, Honda Motor Co. Ltd., Omron Robots and Safety Systems, Inc., Bluefin Robotics Corporation, ECA group, Aethon Inc., Delaval International, Lely Holding, ABB, Yaskawa Motoman, Fanuc Corporation, Panasonic Corporation, DJI, Staubli, Nachi Robotic System, Robosoft System, Prodrone, Comau, Stryker, RobotLAB, Fetch Robotics, THINK Surgical, Inc., and, Restoration Robotics, Inc.
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About Arizton:
Arizton - Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
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