Personal Service Robotics Market is Prospering at USD 153684.19 Million by 2029, Size, Share, Emerging Trends, Industry Growth, Key Drivers and Revenue Growth Outlook

BOSTON, Jan. 5, 2023 /PRNewswire/ -- Personal Service Robotics Market study by "Data Bridge Market Research" provides details about the market dynamics affecting the Personal Service Robotics market, Market scope, Market segmentation and overlays shadow upon the leading market players highlighting the favourable competitive landscape and trends prevailing over the years. The major areas of market analysis such as market definition, market segmentation, competitive analysis and research methodology are studied very carefully and precisely in the whole Personal Service Robotics report. It covers a thorough study of current situation of the global market along with several market dynamics. And not to mention, the report is amazingly characterized by using several charts, graphs and tables depending on the extent of data and information involved. This Personal Service Robotics market research report is a sure solution to get market insights with which you can visualize market place clearly and thereby take important decisions for growth of your business.

Personal Service Robotics market research report is generated by considering and thorough understanding of specific requirements of the business in Personal Service Robotics industry. Various definitions and segmentation or classifications of the industry, applications of the industry and value chain structure are given in the report. The report has a list of key competitors with the required specifications and also provides the strategic insights and analysis of the key factors influencing the industry. Thus, the Personal Service Robotics market report performs an assessment of the growth rate and the market value based on market dynamics and growth inducing factors. So, take your business to the highest level of growth with this all-inclusive Personal Service Robotics market research report.

Data Bridge Market Research analyses that the personal service robotics market was valued at USD 43,172.61 million in 2021 and is expected to reach USD 153684.19 million by 2029, registering a CAGR of 17.20% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

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Market Analysis:

Personal service robots are the robots intended to help humans complete their useful tasks. These robots are primarily brought for performing non-commercial tasks and for self-assistance only. Some of the generally used personal service robots includes automated wheelchair, personal mobility assist robot, it is a domestic servant, and pet exercising robot.04.

The largest growing technology in the globe in today's time is robotics. It makes daily life easier. Robots have become the mainstream technology in due to their vast advantages in terms of defective products, cost, productivity and efficiency. Personal robotics is an invention that allows consumers to use robotics technology for personal purposes. It is a complex technology but it is designed for those end users which is having less knowledge about robotic. The growing demand for humanoid robotics stimulates the growth of the personal service robotics market. Personal robotics services are important in healthcare, research, commercial, agriculture and hospitality.

The investment made in the study would provide you access to information such as:

• Personal Service Robotics Market [Global – Broken-down into regions]
• Regional level split [North America, Europe, Asia Pacific, South America, Middle East & Africa]
• Country wise Market Size Split [of important countries with major market share]
• Market Share and Revenue/Sales by leading players
• Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter's Five Forces, etc.
• Personal Service Robotics Market Size
• Market Size by application/industry verticals
• Market Projections/Forecast

Some of the major players operating in the Personal Service Robotics market are:

• KUKA AG (Germany)
• LELY (Netherlands)
• ECA GROUP (France)
• Accumen Inc. (U.S.)
• STRYKER (U.S.)
• Harvest CROO Robotics LLC. (U.S.)
• STARSHIP TECHNOLOGIES (U.S.)
• Parrot Drone SAS. (France)
• GENERAL ELECTRIC (U.S.)
• AMAZON ROBOTICS (U.S.)
• DILIGENT Corporation (U.S.)
• AMP (U.S.)
• UVD ROBOTS (Denmark)
• XAG Co., Ltd. (China)
• EXYN TECHNOLOGIES (U.S.)

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Opportunities

• Growing adoption of swarm intelligence technology

Swarm robotics is a method for the organization of multiple robots as a system. Swarm robotics have special features in terms of robustness, scalability and flexibility. With the use of swarm intelligence technology robots can easily perform many complex tasks. Moreover, medical research is trying to use this swarm intelligence-based controls technology for nanobots to fight with cancer. The main advantage of this swarm robotics is that the systems become robust. The swarm intelligence also significantly increases the range of service robot applications, which will create immense opportunities for market growth in upcoming years.

Moreover, the rise in the application of robots for handicap help, companionship and the help for the elderly population, the attention on improvising the endurance and the range of operation capability of the robots and the acceptance for the swarm intelligence technology allowing for the robots to perform numerous complex tasks with ease will act as market drivers and increase the beneficial opportunities for the market's growth rate.

The report provides insights on the following pointers:

Market Penetration: Comprehensive information on the product portfolios of the top players in the Personal Service Robotics market

Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market

Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market

Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Personal Service Robotics Market

Market Dynamics: Personal Service Robotics Market

• Increasing penetration towards domestic robots

The penetration of consumer towards domestic robots, such as mops and robotic floor vacuums significantly increase. Cleaning robots are extensively used in personal capacities. For instance, Pepper is a humanoid manufactured by Softbank and is available on a subscription deal of USD 360 per month over 36 months. Thus, the growing penetration of consumer towards domestic robots are expected to drive the growth rate of the personal service robotics market.

• Increasing use of IoT in robots

The Internet of Things (IoT) stands for the digital networking of many systems and machines to generate integrated processes. An IoT-based solution permits parallelly running machine learning (ML) algorithms and storing terabytes of data on several computers to forecast pinpoint and potential hazards when industrial equipment is expected to fail. Data from many sensors in a robot, such as voltage and heat, are collected on cloud, and the data is examined with ML algorithms. This algorithm are applied to reveal the hidden correlations in datasets and detect the abnormal data patterns. Thus, the growing usage of IoT in personal service robotics are expected to drive the market growth rate.

Furthermore, increasing use of IoT in the robots for cost-efficient analytical maintenance, growing investment for research on the robots, growing insurance coverage for the robotic surgeries and medical exoskeletons are some major factors anticipated to propel the growth of the service robotics market during the forecast period.

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Key Industry Segmentation: Personal Service Robotics Market

Component

• Hardware
• Airframe
• Sensors
• Cameras
• Actuators
• Power Supply
• Control Systems
• Navigation Systems
• Propulsion Systems
• Others
• Software

 Application

• Cleaning Robot
• Entertainment & Toy Robot
• Education Robot
• Handicap Assistance Robot
• Companion Robot
• Personal Transportation Robot
• Security Robot

Regional Analysis/Insights: Personal Service Robotics Market

The countries covered in the personal service robotics market report  U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the automated fingerprint identification system (AFIS) market in terms of market revenue. This is due to growing demand from the healthcare sector for therapy, growing acceptance for surgical robots by hospitals, accessibility of the scientifically advanced service robots and suitable investment scenario for the research on the assistive technologies in this region.

Asia-Pacific is anticipated to be the fastest developing region during the forecast period of 2022-2029 due to the thriving automotive industry and increasing demand for service robotics.

Table of Contents:

1.  Introduction
2.  Market Segmentation
3.  Executive Summary
4.  Premium Insights
5.  Global Personal Service Robotics Market: Regulations
6.  Market Overview
7.  Global Personal Service Robotics Market, By Component
8.  Global Personal Service Robotics Market, By Application
9.  Global Personal Service Robotics Market, By Region
10.  Global Personal Service Robotics Market: Company Landscape
11.  SWOT Analyses
12.  Company Profile
13.  Questionnaires
14.  Related Reports

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