Service Robotics Market Industry Report Size, Share, Trends Forecast, 2028

The service robotics market is projected to reach USD 84.8 billion by 2028 from USD 41.5 billion in 2023; it is expected to grow at a CAGR of 15.4% from 2023 to 2028.

Growing adoption of robots for new applications, surging use of IoT in robots for cost-effective predictive maintenance, and increasing use of disinfection robots due to rising cases of hospital-acquired infections (HAIs) are driving the growth of the service robotics market. Robots are increasingly being adopted for new applications due to advantages such as increased productivity, streamlined processes, and greater workplace safety.

Driver: Increasing funding for research on robots

The funding for research on service robotics has increased significantly in the past few years, with various governments taking initiatives. According to the National Artificial Intelligence Research and Development Strategic Plan, by 2028, AI researchers in G20 countries are expected to contribute ~USD 11.5 trillion to intelligent technologies. Various countries are investing heavily in robotics mostly on a government level. For instance, the Government of China provided funding of USD 43.5 million for ‘the Key Special Program on Intelligent Robots in 2022’. In Japan, a budget of USD 440 million was assigned to robotics-related projects in the Moonshot Research and Development Program over 5 years from 2020 to 2025.

Restraint: Concerns over data privacy and regulations

With the rise of software services for robotics, there are ethical issues with data ownership. In the case of delivery robots, public traffic areas designated for pedestrians are used, which binds them to operate under a legal, regulatory framework. Most western legal authorities hold the manufacturer responsible for the tort of negligence if a delivery robot causes damage or injury to a user or people passing by the robot. In February 2020, Nuro’s (US) R2 became the first autonomous delivery vehicle in the US to get a permit from the Department of Transportation for testing on public roads. Therefore, stringent regulations are delaying the penetration of delivery robots.

Opportunity: Focus on improving endurance and capability of robots

Despite huge advancements in robotics, robots developed until now do not match the capabilities of human beings. There is an opportunity to improve natural language processing and user interfaces to improve the ability of humanoid robots for more interactive communication. Drones are limited to areas that have access to Wi-Fi. A few companies offer Wi-Fi or communication network-related products or services. For instance, Whizpace (Singapore) offers Super Wi-Fi, which utilizes white space communication and provides services in rural and remote areas. Partnerships with such companies would increase the operating range of drones.

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Challenge: Inaccurate results impeding use in critical operations

If robots manufactured by all companies are considered, the average distance covered by a robot is 10 km on a single charge, with its service limited to short distances from the hub or warehouse. Robots are designed to walk or travel on sidewalks, but they are not functional enough to climb stairs. The navigation of completely autonomous delivery robots is also a key challenge faced by manufacturers. It requires tasks such as building a map of the environment, localizing the robot in that map, and making a motion plan according to the map to be performed simultaneously so that the robots can travel or operate easily in uncontrolled environments or without any human intervention.

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