Service Robotics Market Research Report Forecasts Growth of $20 Billion USD by 2022

Published by , June 12, 2017 12:44 pm

(CrossroadsToday) The global service robotics market is expected to grow at USD 20 Billion by 2022, at 15% of CAGR between 2016 and 2022 according to a new report from Market Research Future. Service robot can be defined as a robot that performs useful tasks for humans or equipment excluding industrial automation application. Service robotics is differentiated into two parts as personal/domestic service robots and professional service robots.
The report has been segmented on the basis of type and end user. Looking through the end-user segments it’s been observed that healthcare industry is dominating in service robotics market. Automotive, defense and construction industries are also showing a positive growth towards service robotics. In the defense sector, service robotics reduces the human involvement, thereby reducing the number of victims in military actions which would result in increase of service robotics market by the forecast period.

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