The Asia Pacific Service Robotics Market would witness market growth of 23.7% CAGR during the forecast period (2022-2028).
Service robots have become more desirable as a result of technological advancements in cognition, interaction, and manipulation. The robotics ecosystem has significantly progressed due to the contributions of technology as well as certain other component providers. A considerable number of market players also provide AI technology for autonomous driving systems in vehicles and robots.
Professional uses for service robots are growing, including healthcare and surgical robots to aid in delicate surgeries, extensive surveillance and monitoring devices, agricultural for fertilizer spraying, and construction, among others. Certain companies are also investing in research and development across the field in order to build assistive technology-based robots that will make processes more efficient, accurate, reliable, and free of human errors. These benefits significantly cut operational costs while also increasing the overall efficacy of the operations. The use of service robots within domestic markets is increasing in order to execute everyday routine chores more efficiently, which is aiding the growth of the service robotics market.
The increasing demand for service robotics is majorly owing to expanding government expenditures in automation, artificial intelligence, robotics, and other technologies, as well as increased research and development activity across industrial robot industries. China, South Korea, Japan, and India are estimated to be the primary drivers of this rapid growth in the region. Globalization, industrialization, as well as the demand for automation as a result of rising living standards in developing countries like China and India, would boost the service robot industry in the region. Moreover, the Chinese government has big hopes for the robotics industry in the country. The government has designated the robotics industry, as well as AI and automation, as one of the key areas for high-end development in order to accelerate the industrial sector's transformation and upgrade.
The China market dominated the Asia Pacific Service Robotics Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $14,060 million by 2028. The Japan market is anticipated to grow at a CAGR of 22.9% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 24.4% during (2022 - 2028).
Based on Application, the market is segmented into Domestic, Medical, Public Relation, Entertainment, Education, & Personal, Inspection & Maintenance, Field, Logistics, Defense, Rescue, & Security, Construction & Demolition, Marine, and Others. Based on Environment, the market is segmented into Ground, Aerial, and Marine. Based on Type, the market is segmented into Professional and Personal & Domestic. Based on Component, the market is segmented into Hardware and Software. Based on Hardware Type, the market is segmented into Sensors, Cameras, Power Supply, Control Systems, Airframes, Navigation Systems, Propulsion System & Actuator, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Service Robotics Market is Projected to reach USD 168.6 Billion by 2028, at a CAGR of 23.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Kuka AG, Northrop Grumman Corporation, Intuitive Surgical, Inc., iRobot Corporation, General Electric (GE) Co., Cyberdyne, Inc., Daifuku Co., Limited, SoftBank Robotics Group Corporation, Tetra Laval International S.A., and Neato Robotics, Inc.
By Application
By Environment
By Type
By Component
By Country
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