DUBLIN--(BUSINESS WIRE)--The "Service Robot Market - Forecasts from 2018 to 2023" report has been added to ResearchAndMarkets.com's offering.
The service robot market was valued at US$11.304 billion in 2017 and is projected to expand at a CAGR of 22.77% over the forecast period to reach US$38.708 billion by 2023. There has been a growing demand for service robot in healthcare and education industry which drives its market growth. The declining price of personal robot owing to rapidly growing competition in market drives the adoption of service robot for domestic tasks which further augments the market growth. In addition to this, the rapidly aging population as well as increasing number of rehabilitation centers drive the demand for service robot as it can provide a helping hand to elderly people. Other drivers include rising spending power, and high speed innovations.
Geographically, Europe accounted for large market share in 2017 and is also expected to hold a notable position by the end of forecasted period. High speed innovations as well as expanding application of service robot drive the regional market growth. In Europe, robots are increasingly being adopted for education, entertainment and medical applications. Likewise, North America also accounted for considerate share in 2017. Adoption of technology at its early stage in United States and presence of many key players augment the market share.
- iRobot Corporation
- Jibo, Inc.
- Honda Motors Co., Ltd.
- Future Robot Co. Ltd.
- Kongsberg Maritime
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Service Robot Market By Operating Environment
6. Service Robot Market By Component
7. Service Robot Market By Application
8. Service Robot Market By Geography
9. Competitive Intelligence
10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/9hbp74/service_robot?w=4