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Market Research Projects Service Robotics Market at $46.18 Billion by 2017

Jul 19 2012 12:00AM

Marketwire

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ROCKVILLE, MD -- (Marketwire) -- 07/19/12 -- MarketResearch.com has announced the addition of the new report "Personal & Professional Service Robotics Market - Global Forecast & Assessment by Applications & Geography (2012 - 2017)," to their collection of Manufacturing market reports. For more information, visit http://www.marketresearch.com/MarketsandMarkets-v3719/Personal-Professional-Service-Robotics-Global-7058159/

During early 2010s, service robotics evolved with advanced interaction capabilities, in addition to mobility. Entertainment products for exhibitions and products were introduced in Japan to amuse residents -- which followed next. Robots were able to respond to vocal commands or gestures and move independently around a living space, watering plants, letting the cat out, operating kitchen appliances, even making toast (as well as serving it), and feeding pets. As the elderly will represent the largest market segment in the years to come, the industry anticipates a huge demand for servant robots.

In the coming ten years, service robotics evolution is expected to continue with its application in Unmanned Ground Vehicles (UGVs) or self-driving cars, Unmanned Aerial Vehicles (UAVs) or self-piloting airplanes, and autonomous wheelchairs, as well as C3PO-like anthropomorphic robots and less complex simple cleaning robots. The more sophisticated service robots applications include robot snipers, minding children, caring for the elderly, acting as tour guides, and giving people baths or doses of medicine. As with all the digital technologies, the prices of robots are expected to fall, while, at the same time, their capabilities are expected to grow rapidly.

The service robotics market report forecasts and assesses the professional and personal service robotics by applications, and geography from 2012 to 2017. The report analyses the service robotics application market, both qualitatively and quantitatively, giving in-depth insights about each sub segment of all application as well. Industrial service robots can be used to carry out simple tasks, such as examining welding, as well as more complex, harsh-environment tasks, such as aiding in the dismantling of nuclear powers stations. Autonomous scientific robots perform tasks which humans would find difficult or impossible, from the deep sea to outer space. The Woods Hole Sentry can descend to 4,500 meters and allows a higher payload as it does not need a support ship or the oxygen and other facilities demanded by human piloted vessels.

The service robotics market research report aims to capture the market roadmap with market sizes, revenue forecasts, value chain, competitive landscape, leading players and their key developments, strategies, and profiles. Market is split into five regions; namely Americas, Europe, Japan, APAC, and ROW for the geographic analysis of the market.

The global service robotics market in 2011 was worth $18.39 billion. This market is valued at $20.73 billion in 2012 and expected to reach $46.18 billion by 2017 at an estimated CAGR of 17.4% from 2012 to 2017. The market is driven by factors like ageing population, value enhancement by robots, increasing grants and funds by governments, increasing venture capital investments in service robotics companies, enhancements in complementary technologies and integration of robotics with mobile technologies, other smart products, and appliances.

The key market players in service robotics industry are Honda Motors (Japan), iRobot (U.S.), AB Electrolux (Sweden), Sony (Japan), Fujitsu (Japan), Toyota (Japan), GeckoSystems (U.S.), and Yujin Robot (South Korea).

For more information, visit http://www.marketresearch.com/MarketsandMarkets-v3719/Personal-Professional-Service-Robotics-Global-7058159/

About MarketResearch.com

MarketResearch.com is the leading provider of global market intelligence products and services. With research reports from more than 720 top consulting and advisory firms, MarketResearch.com offers instant online access to the world's most extensive database of expert insights on global industries, companies, products, and trends. Moreover, MarketResearch.com's Research Specialists have in-depth knowledge of the publishers and the various types of reports in their respective industries and are ready to provide research assistance. For more information, call Veronica Franco at 240-747-3016 or visit http://www.marketresearch.com.



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Source: Marketwire


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