Global Professional Service Robots Market

Professional Service Robots Market Size, Share, Growth Analysis, By Form Factor(Land-based, Water-based, Wearable Robots), By Application(Logistics, Healthcare, Military & Defense, Inspection & Maintenance), By Region - Industry Forecast 2024-2031

Q: What is the global market size of Professional Service Robots Market?

Global Professional Service Robots Market Size was valued at USD 31.2 billion in 2022 and is poised to grow from USD 42.21 billion in 2023 to USD 474.06 billion by 2031, growing at a CAGR of 35.3% in the forecast period (2024-2031).

Report ID: SQMIG45M2017 | Region: Global | Published Date: May, 2024
Pages: 196 | Tables: 67 | Figures: 72

Professional Service Robots Market Regional Insights

Europe is projected to account for a substantial share of the global professional service robot demand outlook across the forecast period. The presence of key professional service robot manufacturers and growing adoption of professional service robots in logistics operations are allowing Europe to account for a major share of this market. Interdisciplinary approach on robotics research in this region is also a key factor promoting sales of professional service robots. Germany and the United Kingdom are slated to be the most lucrative markets for professional service robot companies in this region.

Asia Pacific region is estimated to emerge as the fastest-growing market for professional service robot companies in the world. Advancements in robotics technology and growing use of professional service robots in different industry verticals is helping this regional market expand at a robust CAGR. Japan is estimated to lead the adoption of professional service robots in this region owing to growing geriatric population and dearth of labor. Meanwhile, China and India are also estimated to emerge as highly opportune markets for professional service robot companies in the long run.

Professional Service Robots Market Report Snapshots

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Professional Service Robots Market Size was valued at USD 31.2 billion in 2022 and is poised to grow from USD 42.21 billion in 2023 to USD 474.06 billion by 2031, growing at a CAGR of 35.3% in the forecast period (2024-2031).

Professional service robot providers should focus on maximizing their sales by collaborating with companies from different industry verticals and optimizing robots for their usage. Professional service robot manufacturers can also integrate advanced technologies such as artificial intelligence and machine learning to improve the safety and capability of their offerings. Mergers and acquisitions are projected to be preferred strategies for companies looking to improve their market presence. 'Hanson Robotics', 'Northrop Grumman', 'ECA Group', 'DeLaval International AB', 'Intuitive Surgical Inc.', 'Robert Bosch GmbH', 'Aethon Inc.', 'iRobot', 'DJI', 'Kongsberg Maritime', 'Blue River Technology', 'Boston Dynamics', 'Cyberdyne Inc.', 'KUKA AG', 'Honda Motor Co. Ltd.', 'Neato Robotics', 'Softbank Robotics'

Shortage of skilled labor force around the world has resulted in high labor costs and this has reduced the profits of organizations. This is why companies are investing in the deployment of professional service robots to save on labor costs and improve profitability of their business.

Demand for Autonomous Robots: Professional service robot manufacturers should focus on the development of autonomous robots to maximize their sales in the future. These type of service robots will be highly popular and in-demand in material handling and other types of industries going forward.

Europe is projected to account for a substantial share of the professional service robot demand outlook across the forecast period. The presence of key professional service robot manufacturers and growing adoption of professional service robots in logistics operations are allowing Europe to account for a major share of this market. Interdisciplinary approach on robotics research in this region is also a key factor promoting sales of professional service robots. Germany and the United Kingdom are slated to be the most lucrative markets for professional service robot companies in this region.

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Professional Service Robots Market Size, Share, Growth Analysis, By Form Factor(Land-based, Water-based, Wearable Robots), By Application(Logistics, Healthcare, Military & Defense, Inspection & Maintenance), By Region - Industry Forecast 2024-2031

Professional Service Robots Market Regional Insights

Professional Service Robots Market Report Snapshots

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