Service Robotics Market to Reach USD 57.35 Billion by 2029; Ricoh Acquires 80% Share in PFU Limited from Fujitsu Limited to Encourage Development

The globalservice robotics marketsize was valued at USD 16.95 billion in 2021. The market is projected to grow from USD 19.52 billion in 2022 to USD 57.35 billion by 2029, exhibiting a CAGR of 16.6 % during the forecast period.

This information is provided byFortune Business Insights, in its report titled,“Service Robotics Market Size, Share & COVID-19 Impact Analysis, By Type (Professional, Personal) By Application (Domestic, Industrial/Commercial), and Regional Forecast, 2022-2029.”

Service robots are devices that assist humans by carrying out necessary tasks on their behalf. Service robots for personal use and business purposes are the two main categories. Additionally, they are classified as household and industrial service robots based on application.

All service robots used for indoor and personal applications are included in the domestic segment. Domestic robot usage is rising globally due to the use of IoT-based devices in homes and the development of more precise and more inexpensive home-use service robots.

COVID-19 Pandemic Created Huge Demand for Medical Service Robots

Due to the effects of the economic downturn in various important nations, the service robotics market growth was significantly reduced. The two supporting causes for the growth in the sales of these robots during the pandemic, however, were the increasing need for automation and the increased social distancing practices globally. After the COVID-19 pandemic, the development of robot-based operations and automation surged the demand for service robotics to boost industry-wide automation integration.

To get a detailed report summary and research scope of this market, click here:

//www.cnnetone.com/industry-reports/service-robotics-market-101805

Kuka and Wiksfors Technology Announce Tactical Partnership

Wiksfors Technology AB and KUKA Assembly & Test GmbH recently formed a strategic alliance to work together on modular home construction projects. Its goal is to make it easier for the "next generation factories" that will build off-site, assembled, and large-scale manufactured housing. The partnership is based on KUKA and Wiksfors' non-exclusive cooperation to purchase and carry out construction sector projects together.

The developer of adaptable and highly inventive robot-based production systems and manufacturing solutions, KUKA is a global leader in the provision of engineering services.

而Wiksfors技术,数据驱动的建立ng firm, specializes in creating factory layouts that are coupled with actual machine data to optimize material handling, workflows, and process.

Commencement of Intuitive Technologies in Robotics Solutions to Boost Market

The capabilities of service robots are being exponentially expanded by technology, and they are now capable of performing more jobs in less time.

The deployment of these robots across a broad range of industries, including healthcare, logistics, agriculture, and others has fundamentally altered the way labor is done.

Acquisitions Initiated by Key Companies to Promote Market Growth

在市场上领先的玩家不断选择for efficient strategies to bolster their brand value as well as promote the global market growth. One such efficient strategy is acquiring competitive companies and further securing a profit for both companies.

Notable Industry Development

• September 2022:As part of a growth investment to accomplishdigital transformation (DX)for clients, Ricoh purchased an 80% share in PFU Limited from Fujitsu Limited, a top worldwide document scanning company.

List of Key Players Covered in the Report

• Ricoh (Japan)


• Honda Motor Co., Ltd. (Japan)


• iRobot Corporation (U.S.)


• KUKA AG (Germany)


• Intuitive Surgical (U.S.)


• Daifuku Co., Ltd. (Japan)


• SoftBank Robotics Group Corp. (Japan)


• Aethon (U.S.)


• Boston Dynamics (U.S.)


• Lely (Netherland)


• Fetch Robotics, Inc. (U.S.)


• GreyOrange (U.S.)


• Geekplus Technology Co., Ltd. (China)


• Youibot Robotics Co., Ltd. (China)


• Sirius Robotics (Portugal)

Further Report Findings

Based on application, the market for service robotics is segmented into domestic and industrial/commercial. The industrial/commercial segment is anticipated to establish its dominance and to grow significantly over the forecast period.

Asia Pacific held a major service robotics market share and is expected to demonstrate massive growth owing to advancement of technology and rising automation at many industrial manufacturing levels across all the sectors in the region. The major and impactful economies of Japan, China, and India are the driving force of the Asia Pacific market.

Table of Segmentation

ATTRIBUTE	DETAILS
Study Period	2018-2029
Base Year	2021
Estimated Year	2022
Forecast Period	2022-2029
Historical Period	2018-2020
Unit	Value (USD billion)
Segmentation	By Type, Application, and Region
By Type	Professional Personal
By Application	Domestic Industrial/Commercial Transportation & Logistics Medical Defense Construction & Demolition Unmanned Vehicles Agriculture & Forestry Retail Others (Public Relations)
By Region	North America(By Type, By Application, By Country) U.S. Canada Europe(By Type, By Application, By Country) Germany U.K. France Rest of Europe Asia Pacific (By Type, By Application, By Country) China India Japan Southeast Asia Rest of Asia Pacific Latin America (By Type, By Application, By Country) Brazil Mexico Rest of Latin America Middle East & Africa(By Type, By Application, By Country) GCC South Africa Rest of Middle East & Africa