Global Service Robotics Market valued approximately USD 11.8 billion in 2017 is anticipated to grow with a healthy growth rate of more than 15.25% over the forecast period 2018-2025.
The Service Robotics is referred to an independent source of electrical energy which has its utility to support the pivotal electrical systems during the loss of normal supply of power during specific time period. The Service Robotics system mainly consists of standby generators which include both gas generators and diesel generators along with other apparatus. The Service Robotics system are primarily utilized and deployed to prevent the power outages in the events such as sports events and concerts that occurs from the main circuits of power supply. The drivers of Service Robotics market include rising demand for power, lack of power infrastructure and reduced turnaround time. The Service Robotics market is mainly driven enhancing demand for power mainly by the developing countries such as India, China and Brazil which are emerging manufacturing hubs. The automotive and healthcare sector has occupied dominant share in the Asia-pacific region. The production and manufacturing process require constant supply power for assembly line operations. The Service Robotics has varied applications in many fields as they are used in ships and cruises in marine, telecommunication equipment, scientific laboratories, data centers and hospitals. These Service Robotics systems can also be dependent on hydrogen fuel cells, deep cycle batteries and flywheel energy storage. On many occasions, the primary source of power is lost owing to top grid wide failure, inclement weather conditions, substation malfunction and planned blackouts. In the present scenario, the emergency power systems considering commercial spaces are mostly equipped with generators. Mostly, these generators are operated through diesel engine.
However, the small building and residential spaces mostly employ gasoline driven generators and large spaces deploy gas turbine generators.
The North America region is anticipated to dominate the Service Robotics market on the global scenario. The North America region is primarily driven by rise in the power demand and capacity expansion plans by the organizations such as caterpillar and trinity power rentals. The Asia-Pacific region is anticipated to be the fastest growing considering Service Robotics market owing to escalating industrialization & enhancing demand focusing on continuous power mainly by the sectors which include automobile and healthcare considering the forecasted period. The automobile industry is the largest in terms of manufacturing and production considering the Asia-Pacific region. China is the dominant country considering the manufacturing and production of vehicles which is followed by Japan and India. The constant up surge in the manufacturing of vehicles from the automotive sector which includes both the commercial and passenger vehicles is fuelling the demand for the constant power supply in the utilities. The development of the smart cities in India & growing urbanization is also supporting the adoption and growth of Service Robotics solutions in the Asia-Pacific region. The North America Service Robotics market is mainly driven by factors which include natural calamities and aging grid infrastructure that causes frequent power cuts and outrages. Moreover, the manufacturing and construction industry is significantly rising & recovering from the slowdown that occurred in the year 2016 and is expected to fuel the demand for rental power solutions. In the Middle East region, Saudi Arabia is anticipated to be the fastest growing country considering the Service Robotics market. The Saudi Arabia is on the up-surging trend owing to expanding infrastructure, high demand for electricity and enhancement in the construction activities is which are paving way for growth & development of Service Robotics market in the country. The generators used for both standby and prime purposes in Saudi Arabia & are fully independent on grid connectivity.
The regional analysis of Global Service Robotics Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share. Whereas, owing to the countries such as China, Japan, and India, Asia Pacific region is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
The Companies included in the market are as follows:
- Adept Technology Inc
- Aethon Inc
- Bluefin Robotics
- Delaval International AB
- ECA Group
- GeckoSystems Intl. Corp
- IRobot Corporation
- Kuka AG
- Intuitive Surgical Inc
- Parrot S.A.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Power Rating:
- Defense, Security & Rescue Service Robotics
- Field Robots Service Robotics
- Medical Service Robotics
- Marine Service Robotics
- Logistics Service Robotics
- Telepresence Service Robotics
- Inspection & Maintenance Service
- Entertainment Service Robotics System
- Education & Research Service Robotics
By Operating Environment:
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Service Robotics Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers