The global professional service robots market size is expected to reach USD 182.0 billion by 2027, registering revenue based CAGR of 41.0% over the forecast period, according to a new report by Grand View Research, Inc. Increase in demands from logistics, manufacturing and healthcare sectors is one of the most important factors, causing the rise in market growth rate. Profession service robots are bound to be common occurrence on manufacturing sites like assembly lines and construction sites among others. The market is expected to have a strong growth not only in the high-risk industry sectors but also in lifestyle and healthcare applications.
With rising geopolitical tensions among countries, military expenditure has seen a big jump all over the world. This has led to higher procurement of armaments and greater stress on R&D. Robots are deployed in combat scenarios to gain tactical advantages over the enemy. They also help minimize the involvement of soldiers and reduce the number of victims in military actions. Unmanned ground vehicles (UGV) is the most used robot in defense and military applications. UGV is capable of operating outdoors, over a wide variety of terrain, and in high risk areas. Unmanned robots are actively being developed for both military and civilian use to perform complex and hazardous activities.
Another area of rising interest is Mobile Service Robot, as much research has gone into it. Due to advanced sensors and processes applied in robots, it is gaining recognition all over. It is gaining prominence, as it is able to help humans by performing complex assistance tasks with autonomous navigation. Sophisticated user interfaces have been developed, which consider the entire range of communication channels. As a result, there has been a rapid growth of mobile service robots in inspection and maintenance applications.
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Nowadays, these robots have made their mark in several fields such as:
COVID-19 Effect:
With the rising spread of contagion world over, demand for professional service robots in healthcare has seen a massive jump as it helps humans ensure social distancing while taking care of the patients. Also, as the manufacturing activities are restarting in several countries, demand from them is expected to see an uptick as well.
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Further key findings from the report suggest:
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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