Service robots refer to robots designed to assist humans and perform useful work except for manufacturing and industrial automation applications. Service robots are primarily designed to operate in fully automatic or semi-automatic modes and perform various tedious tasks, thereby offering safety and high efficiency in various applications. Additionally, it also reduces work pressure and enhances productivity.
The global service robot market is an emerging market and is presumed to grow during the forecast period. The global robotic refueling market was valued at USD 35.5 billion in 2019 and is presumed to grow at a CAGR of 21.3% during the forecast period. The growth is attributed to the growing adoption of new applications for high ROI. Furthermore, the rising use of IoT in robots for cost-effective solutions and increasing investment in robot research propels the market growth. However, growing concern over data privacy and regulations hinder market growth.
Additionally, post-COVID-19 is anticipated to boost service robots' demand because of increasing adoption for various applications such as; cleaning of hotels, airports, serving patients in hospitals, and security check, among others.
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Service Robots Market: Segmentation
The Middle East and Africa (MEA)
Central and South America and the Caribbean
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* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now