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The global service robotics industry is witnessing a significant growth owing to the rising applications of service robots in the healthcare industry. The market is further being aided by the growing investments and innovations by the key market players. The safety and efficiency provided by the product is one of the major factors propelling the market growth.
The Asia Pacific accounts for a significant share in the global service robotics industry. Japan is one of the major Asian countries that provides efficient robotics solutions. North America is another significant market for the product and is expected to witness a considerable growth in the forecast period. The market in the region is bolstered by the rising applications of the product for personal and professional use.
Omron Corporation (TYO: 6645), Intuitive Surgical Inc (NASDAQ: ISRG), and KUKA AG (ETR: KU2) are some of the key market players. In India, NIT Jalandhar has recently developed a service robot for use in hospitals and security agencies. The robot is less expensive as compared to that of other countries and is likely to cost between 2 to Rs. 2.5 lakh after mass production. Such developments are expected to aid the industry in the forecast period.
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The major players in the global service robotics market are Omron Corporation, Daifuku Co., Ltd., Dematic Holding S.à r.l., Intuitive Surgical Surgical, Inc., Kollmorgen Corporation, and KUKA AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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