Covid-19 Impact on Professional Service Robots Market to See Strong Expansion Through 2028

Global Professional Service Robots Market is segmented by Application Type (Logistics, Healthcare, Military & Defense, Inspection & Maintenance, Customer Service, Field Robots, and Others), and by Region (North America, Europe, Asia-Pacific, and the Rest of the World).

Market Insights

According to this report, the professional service robots market was estimated at USD 22 billion in 2021 and is likely to grow at a CAGR of 36.27% during 2022-2028 to reach USD 200.18 billion in 2028.

The prime factors which are likely to drive the professional service robots’ market are innovations and development in 5G technology and AI chipsets, reduced human tasks at various workplaces, low operational expenses, and high Return on Investment (ROI).

Professional service robots are used for helping humans, rather than replacing them. Though these robots have arms, they are unable to perform heavy tasks that can be performed by most industrial robots. There has been a massive demand for these robots, as they offer several advantages, such as increased productivity, greater workplace safety, and streamlined process.

The methodology involves collecting and analyzing crucial data regarding products, and services offered in the market. This report assists the users to gain a better understanding of market developments and aids in business growth. This report is the result of a thorough analysis of customer spending habits, business target market, challenges, and competitors in the market.

Key players

Key players operating in the Professional Service Robots Market are-

• Boston Dynamics
• Cyberdyne Inc.
• Daifuku Co. Ltd
• GeckoSystems Intl. Corp.
• iRobot Corporation
• KUKA AG
• Northrop Grumman Corporation
• Ontario Drive & Gear Ltd
• Robert Bosch GmbH
• Softbank Robotics Group

Segment Analysis

Based on the application type, the market is segmented as logistics, healthcare, military & defense, inspection & maintenance, customer service, field robots, and others. Logistics application is likely to grow at the fastest pace, driven by the requirement for the flexible and speedy delivery of goods in the customer-driven economy.

In terms of regions, Europe led the professional service robots market in 2021, both in terms of value as well as volume, followed by Germany. The region has a strong presence of professional service robot manufacturers that cater to various industry verticals globally. Also, around 50% of logistics system manufacturers are European companies that contribute to a strong market of professional service robots for the logistics application types.

The report will help you find answers to these questions -

What are the key trends in the Professional Service Robots Market?

How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?

What is the impact of COVID-19 on the Professional Service Robots Market?

What are the key strategies adopted by the major vendors to lead in the global Professional Service Robots Market?

What is the market share of the top vendors?

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