Service robots are the fully autonomous systems that have the ability to carry out the services without or with human assistance. They are used in different sectors assisting human in performing duties that are not possible for humans to perform. The service robots are segmented into professional and service robots based on their product types. The professional robots are used for commercial purpose whereas personal robots are used for domestic uses. They are used in many sectors and one of the most important areas of application is the medical sector and defense. They are used to assist human in performing duties that are not possible for humans to perform.
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Increase in investment in research and development, rapid industrialization and increase in demand for service robots in defense and security are the major drivers which are driving the service robotics market. The application of robots in several industries such as defense, healthcare, logistics, media and entertainment are expected to stipulate the demand of service robots during the forecast period. Moreover, use of service robots in defense is likely to decrease the number of death casualties and cause less damage to properties during war or combat situations. Additionally, with the rapid industrialization the demand for service robotics is expected to increase during the forecast period. Service robotics in industries leads to the rise of automation in the market globally.
High cost associated with development is acting as restraining factors in service robotics market. From designing to development it is a long procedure which takes a long time and charges extra costs before the actual manufacturing of service robots. Moreover, complicated interface of service robots is also an important factor acting as a restraint of this market.