Major players in the professional service robots market are Northrop Grumman Corporation, Boston Dynamics, Inc., Daifuku Co. Ltd., Aethon Inc., AB Electrolux, Kuka AG, iRobot Corporation, Robert Bosch GMBH, Elbit Systems Ltd., Gecko Systems International Corporation, Yujin Robot Co. Ltd., Cyberdyne Inc., Ontario Drive & Gear Ltd., Softbank Robotics Group, Argo Robotics, Ryonic, Brokk AB, Husqvarna, Beijing Borui Intelligent Control Technology, Honeybee Robotics, Pure Technologies, Inuktun, Hanool Robotics, Diakont, Conjet AB, TopTec Spezialmaschinen GmbH, ULC Robotics, Giant Hydraulic Tech
The global professional service robots market is expected to grow from $ 33.38 billion in 2022 to $46.43 billion in 2023 at a compound annual growth rate (CAGR) of 39.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The professional service robots market is expected to reach $172.44 billion in 2027 at a CAGR of 38.8%.
The professional service robots market consists of sales of articulated robots, cartesian robots, SCARA robots, and delta robots.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Professional service robots refer to a robot that is used in a professional setting outside of the usual manufacturing floor scenario. They are comparable to industrial robots that are typically used in hazardous, demanding, menial, or repetitive tasks where automation technology surpasses manual labour.
North America was the largest region in the professional service robots market in 2022 and is expected to be the fastest-growing region in the forecast period. The regions covered in the professional service robots report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of professional service robots are UAVs, unmanned ground-based vehicles, demining robots, defense robots, construction robots, and others.An unmanned aerial vehicle (UAV) , refers to a military aircraft that is guided autonomously, remotely, or both, and carries sensors, offensive munitions, target designators, or electronic transmitters meant to interfere with or destroy enemy objectives.
The offerings offered are hardware and software. These are used in various applications such as oil and gas, construction and building, mining and metallurgical, defense and military, automotive, medical, logistics, and others and used in residential, commercial, and industrial.
Increasing Demand for automation across industries is expected to propel the growth of the professional service robot market going forward.Automation refers to technological applications in which human input is minimal.
This encompasses information technology (IT) , business process automation (BPA) , automation, and personal applications such as home automation.Automation is becoming more common across various industries because it brings benefits such as enhanced production rates and productivity, more efficient use of materials, improved safety, shorter workweeks for labor, better product quality, and shorter manufacturing lead times.
For instance, in June 2021, according to Bank of America analysis, a US-based investment bank, and financial services holding company, domestic software firms that employ over 16 million are set to slash headcount by 3 million by 2022, that would help them save $100 billion and roughly 0.7 million roles are likely to be replaced by Robotic Process Automation(RPA) alone, with the remainder attributable to other technical upgrades and upskilling by local IT players, while RPA will have the greatest impact in the US. Therefore, increasing demand for automation across industries drives the professional service robot market.
Artificial intelligence (AI) -enabled robot is a key trend gaining popularity in the professional service robot market.Major market players are developing AI-enabled robots to sustain their position in the professional service robot market.
For instance, in June 2020, Qualcomm Technologies, a US-based company engaged in software, semiconductors, and services related to wireless technology launched Qualcomm Robotics RB5 platform.Qualcomm introduces the World’s first 5G and AI-enabled robotics platform, which includes a comprehensive collection of hardware, software, and development tools.
This platform is the first of its kind, combining Qualcomm’s deep expertise in 5G and AI to enable developers and manufacturers to create the next generation of high-compute, low-power robots and drones for the consumer, enterprise, defense, industrial, and professional service sectors.
In April 2021, Accenture, an Ireland-based information technology company acquired Pollux, a Brazil-based company for an undisclosed amount.With this acquisition, Accenture expanded its portfolio in various industries with the support of Pollux’s automation and industrial robotics.
Pollux Automation is a Brazil-based company that provides industrial robot solutions including professional robots.
The countries covered in the professional service robots market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified) .
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The professional service robots market research report is one of a series of new reports that provides professional service robots market statistics, including professional service robots industry global market size, regional shares, competitors with a professional service robots market share, detailed professional service robots market segments, market trends and opportunities, and any further data you may need to thrive in the professional service robots industry. This professional service robots market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.