Press release
Service Robotics Industry Industry Analysis : Market Size, Share, Growth, Trends and Forecast 2015 - 2021
Increase in investment in research and development, rapid industrialization and increase in demand for service robots in defense and security are the major drivers which are driving the service robotics market. The application of robots in several industries such as defense, healthcare, logistics, media and entertainment are expected to stipulate the demand of service robots during the forecast period. Moreover, use of service robots in defense is likely to decrease the number of death casualties and cause less damage to properties during war or combat situations. Additionally, with the rapid industrialization the demand for service robotics is expected to increase during the forecast period. Service robotics in industries leads to the rise of automation in the market globally.
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High cost associated with development is acting as restraining factors in service robotics market. From designing to development it is a long procedure which takes a long time and charges extra costs before the actual manufacturing of service robots. Moreover, complicated interface of service robots is also an important factor acting as a restraint of this market.
Underdeveloped mobile automation is one of the major opportunities of this market. Most of the service robots are either stationary and are focused on performing a single task only. But the mobile automation in service robots is yet to be explored as they are still underdeveloped. The mobile service robots are used in the research and development labs to carry out different experiments. Moreover, increasing application areas globally is also a major opportunity of this market. The service robot is likely to be used in almost every sector and thus reduces the work load of humans.
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