Global and China Service Robot Industry Report, 2018-2022

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Jul 17, 2018, 14:54 ET

NEW YORK, July 17, 2018 /PRNewswire/ -- In 2017, the global service robot market size reached approximately USD8.3 billion, up 13.6% from a year earlier, and the scale is expected to keep a growth rate of about 20.0% in the upcoming years and soar to USD20.7 billion in 2022 in the wake of the growing mature technologies like artificial intelligence and human-machine interaction as well as the expedited aging of population and the robust demand for medical care and education.

Read the full report: https://www.reportlinker.com/p04247298

China is a country where service robot enjoys broad prospects, with its market size reporting USD1.32 billion or so and sharing 15.9% of global total in 2017. Being incentivized by policies, service robot embrace huge market potentials and vast development space in China and its market will be worth USD4.9 billion in 2022.

In 2017, dedicated service robots made most sales contribution and swept 62.8% of global market. To be specific, medical service robot as one of the mainstream dedicated service robots in the world had the market size of USD1.83 billion or 35.0% of the global dedicated service robot market in 2017, and its market is anticipated to reach USD4.28 billion in 2022.

The medical service robot market is occupied primarily by foreign companies for the moment since they boasts strong expertise. For instance, Intuitive Surgical is a leading supplier of surgical robots, holding over 50% market shares worldwide; Israel-based ReWalk is a leader in the exoskeleton robot market. Medical robot industry started late in China and is still in its infancy, and local Chinese producers of medical service robot including Smarobot, Harbin Boshi Automation, Tinavi and Truking Technology quicken deployments and scramble for more market shares by means of more investments into R&D and acquisitions. For example, Truking Technology and its controlling shareholders jointly acquired 75.1% equities of Romaco, a German provider of medical equipment, and made a capital increase in Truking Robot Company, etc.

Logistics robot witnessed the highest growth rate in terms of sales among the dedicated service robots in 2017 and its sales soared by 45.7% year on year and reached 37,000 units. As the intelligent logistics is developing by leaps and bounds and such new logistics equipment mushroom as unmanned warehouse, UAV and smart delivery robot, the logistics robot market will continue rapid growth momentum and its sales will hit 116,000 units till 2022.

As far as personal/home service robots are concerned, the cleaning robot market maintained rapid growth in 2017 and the sales reported USD2.0 billion with a year-on-year upsurge of 24.9%. Irobot and Ecovacs, which are the two largest producers of cleaning robot around the globe, held a combined market share of 73% in 2017. Being bullish about the market, firms like Xiaomi and Haier have forayed into the field of cleaning robot successively and seized some market shares. For example, Xiaomi launched MIJIA sweeping robot in 2016, and Haier rolled out T550 sweeping robot in 2017.

Global and China Service Robot Industry Report, 2018-2022 by ResearchInChina highlights the following:
Global service robot market (market size, product structure, regional development, competition among enterprises, development tendencies, etc.;
China's service robot market (market size and environment, regional distribution, development tendencies, etc.;
Personal/household service robot market development in China and the world and the development of subdivided products (housekeeping robot, education robot, escort robot, etc.);
Global market size of dedicated service robots and the development of subdivided products (medical robot, agricultural robot, logistics robot, etc.);
Global and Chinese market development of core components for service robot (servo motor, sensors, Lidar, intelligent speech);
15 global and Chinese personal/home service robot companies (operation, service robot business, etc.);
10 global and Chinese dedicated service robot companies (operation, development strategy, etc.).

Read the full report: https://www.reportlinker.com/p04247298

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