Professional Service Robots Market Size Is Poised To Reach $182.0 Billion By 2027: Grand View Research Inc.

The global professional service robots market size is expected to reach USD 182.0 billion by 2027, registering revenue based CAGR of 41.0% over the forecast period, according to a new report by Grand View Research, Inc. The logistics and healthcare sectors are driving the market growth as these robots hit the mainstream applications in these sectors and are expected to become a common practice on job sites and commercial venues. The market is expected to have a strong growth not only in the high-risk industry sectors but also in lifestyle and healthcare applications.

The exponential spread of COVID-19 worldwide has had an adverse impact on the semiconductor industry with manufacturing facilities temporarily shut, leading to a significant slowdown in the production. The outbreak could result in disruption across the ecosystem with several supply chain participants shifting their production facilities outside China, thereby reducing their over-reliance on China. Lockdowns imposed by the governments in the wake of the Covid-19 outbreak has not only affected manufacturing but also hauled consumer demand for semiconductor devices. Our analysts predict a decline in semiconductor revenue by over 1% in 2020 as compared to that in 2020. The report will account for Covid19 as a key market contributor.

The military and defense applications segment is expected to grow at a steady rate during the forecast period. Robots are deployed in combat scenarios to gain tactical advantages over the enemy. They also help minimize the involvement of soldiers and reduce the number of victims in military actions. Unmanned ground vehicles (UGV) is the most used robot in defense and military applications. UGV is capable of operating outdoors, over a wide variety of terrain, and in high risk areas. Unmanned robots are actively being developed for both military and civilian use to perform complex and hazardous activities.

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Mobile service robot is another field, which has gained prominence owing to its ability to perform complex assistance tasks with autonomous navigation. Advanced sensors and processes are incorporated in the robots to prevent them from colliding against humans and obstacles to ensure safety by providing real-time environmental monitoring in a three-dimensional space. Sophisticated user interfaces have been developed, which consider the entire range of communication channels. As a result, there has been a rapid growth of mobile service robots in inspection and maintenance applications. These robots are used for autonomous sewer inspection, remote visual and ultrasonic inspection of pipes, inspection of ferromagnetic structures in nuclear applications, and quick visual inspection of vessels, pipes, tanks, and large structures.

Professional Service Robots Market Report Highlights

·         Logistics automation has gained traction in recent years and the growth of the industry is presumed to open numerous opportunities for the robot vendors

·         The demand for robots in the healthcare industry is expected to see an upward trend owing to the recent pandemic situation

·         The customer service robots are expected to find its primary application in the retail industry in assisting and guiding the customer around a store

·         Asia Pacific is expected to lead the market growth over the forecast period, with China playing a crucial role in the development of the regional market

North America professional service robotics market is expected to exhibit steady growth over the forecast period. The region has witnessed the widespread adoption of professional service robots in healthcare applications for rehabilitation and assisting medical staff. A favorable funding scenario for research on assistive technologies is driving the growth of the robots market in North America. Moreover, the health crisis created by COVID-19 has developed huge stress on the healthcare industry resulting in the adoption of professional service robots in hospitals. In U.S., professional service robots played a crucial role in the country’s first case of COVID-19 detected at Everett, Washington. The telepresence robot was used for remote caregiving of the isolated patient.

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Grand View Research has segmented the global professional service robots market based on application and region:

Professional Service Robots Application Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2027)

·         Logistics

·         Healthcare

·         Military & Defense

·         Inspection & Maintenance

·         Customer Service

·         Field Robots

·         Others

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.