Professional Services Robots Market To Surpass US$ 7,400 Mn By 2022
The global professional services robots market is slated to touch a value of about US$ 7,400 Mn in the year 2022 and grow at a robust CAGR during the assessment period.
A rapid growth in the service industries and the pressing need to adapt to the changing demand of the consumers, market challenges and a rapid advancement in technology with a backdrop of cut throat competition are the factors responsible for the growth of the professional services robots market. Robots have made their presence felt already in the realm of industrial automation where they are employed for carrying out repetitive tasks. However, with advancements in the fields of machine learning, artificial intelligence, cognitive science and adaptive computing are enabling the robots to assist humans in a variety of tasks. The development of technologically advanced robots that have an improved intelligence and can perform touch-sensitive tasks in a better manner and in addition also have the ability to interact with humans seamlessly will help their better adoption in fields such as healthcare.
Professional services robots market is witnessing a sustained growth due to a variety of reasons. Some of these reason include improved usability, delivery of high quality and accurate services, reduced operational costs, reliability and no scope for human errors in the service robots. Professional service robots are used in various industries such as healthcare, defense and security, forestry, construction, agriculture, logistics and professional cleaning to name a few. On the other hand, personal service robots are used for entertainment and domestic purpose. Some of the other factors that influence the growth of professional services robots market include high cost of labor, increased investments in R&D, lack of a skilled workforce, a growing awareness regarding the benefits of using service robots and increased demand and levels of industrial automation. However, there are some restraints which are hampering the market growth of professional services robots such as high initial investments and concerns for the safety of humans.
North America Market Set to Dominate the Global Professional Services Robots Market in Terms of Revenue
The market in North America is set to dominate the global professional services robots market in terms of value and this trend is projected to sustain itself throughout the assessment period. North America professional services robots market is the most attractive market, growing at a robust CAGR over the forecast period.
The report has also included the profiles of some of the leading companies in the professional services robots market like Kuka AG, Robert Bosch GMBH, AB Electrolux, Northrop Grumman Corporation, Boston Dynamics, Inc., iRobot Corporation, Gecko Systems International Corporation, Daifuku Co., Ltd., Yujin Robot Co., Ltd, Aethon Inc. and Elbit Systems Ltd.
Report Overview with TOC @ https://www.persistencemarketresearch.com/market-research/professional-services-robots-market/toc