INDUSTRIES

&

MARKETSService

robotics:

market

data&

analysisMarket

InsightsreportOctober2023Table

of

ContentsOverviewAppendixSummary567Product

OverviewAuthor2123MarketDefinitionKeyTakeawaysMarket

NumbersRevenue

by

Market91215161819TotalnumberofservicerobotsNumberofcommercial

andconsumerroboticsPriceper

servicerobotShareofcollaborativerobotsMarketshares2MARKET

INSIGHTSThis

report

is

part

ofour

Market

Insights

productGainabetterunderstandingofmarketsacross190+

geographicalentities

–

onaglobal,

regional,country,

and/orstatelevel.

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FinTech,Food,or

Robotics?

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Market

Insightscom/outlook/3CHAPTER

1OverviewThe

Service

robotics

market

continues

expanding

and

driving

the

growthofRobotics

marketOverview:

SummarySummaryService

Robotics

isthe

Robotics

segment

with

the

highest

shareof

collaborativerobots

(cobots).

While

the

share

ofcobots

inindustrialusecasesisonly

4.60%,

itis7.23%

inservice

applications.isexpected

to

increase

inthe

futureinbothRobotics

segments,

reachingupto20%.Collaborative

robotsprovide

assistance

with

taskssuchaspicking,

assembling,

orpackaging.Besides

supplementing

thestrengthof

ahuman,cobotsare

used

toprevent

errors

or

injuriesinrepetitive

tasks.Asopposed

tocobots,conventional

robots

require

protective

barriers

and/orother

safety

precautions.

Meanwhile,

cameras

andsensors

enablecobots

tosharethesame

working

environment

with

human

employees.Because

oftheCOVID-19

pandemic,

some

industries

havestruggledtofilljobvacancies.

Robot

solutionscanpartiallycompensate

forthese

deficitsor

assist

theremaining

employees,

forexample,

inretailor

hospitality,thathavebeen

facedwith

challenges

due

tostaff

shortages.Duetothe

large

numberof

potentialusecases,

theshareof

collaborative

robots5Sources:Market

Insights

2023Robots

are

being

deployed

in

a

wide

array

of

service

industriesOverview:

Market

DefinitionMarket

definitionTheService

Robotics

market

presents

themarket

size

of

robotics

inservice

usecases,

e.g.,commercial

service

robots

or

consumer

service

robots.

Service

robotsareintended

forpersonal

or

professional

useand

are

designed

toassisthumansincarrying

outcertain

tasks.Themarket

comprises

revenues,

volume,

and

theaverage

price

pernewinstalledrobot.

Themarket

displaysboth

B2B

and

B2C

revenues,

and

therevenue

isbasedon

the

country’s

demandforrobot.

Itisshown

inmanufacturerprices.

Softwarerevenues

are

includedasservice

robots

are

mostly

delivered

with

softwaresolutions

thathavebeen

implemented

bythemanufacturer.Arobot

isdefinedasapowered

machinethat

isprogrammable

on

two

or

moreaxesandhassome

degree

ofautonomy;

itmoves

within

itsenvironment

toperform

itsprogrammed

tasks.Key

players

inthe

market

includeIntuitiveSurgical,ABB,andiRobot.TheCommercial

Service

Robotics

and

Consumer

Service

Robotics

markets

canbefoundwithintheService

Robotics

market.

TheCommercial

Robotics

market

isfurthersplitinto

arangeof

service

industriesthathavethehighestadoption

ofrobots.

Thisincludesagricultureservice

robotics,

logisticsservice

robotics,medical

service

robotics,

andallother

service

industries,which

areall

covered

bythe

Other

IndustryRobotics

market.6Sources:Market

Insights

2023Service

robotics

accounted

for

75.53%

of

the

Robotics

market

revenue

in

2022Overview:

Key

Takeaways

and

inscope

/outof

scopeKeyTakeawaysInscopeOutof

scopeRevenue

intheService

Robotics

market

isprojected

toreach

US$28.49bn

in2023.Thismarket

includes:Thismarket

excludes:Commercial

service

robotics

dominates

themarket

with

a

projected

marketvolume

of

US$17.17bn

in2023.?Commercial

Service

Robotics?Consumer

Service

Robotics?robots

usedinindustrialusecasesRevenue

is

expected

toshow

anannualgrowth

rate(CAGR2023-2028)

of

4.02%,resulting

inamarket

volume

of

US$34.69bn

by2028.Inglobalcomparison,

most

revenue

will

begenerated

intheUnitedStates(US$7,090.00m

in2023).7Sources:Market

Insights

2023CHAPTER

2Market

NumbersService

robotics

revenues

are

estimated

to

increase

at

a

CAGR(1)

of

8.8%

from2016

to

2028Market

Size:

Globalrevenue

forecast

inbillionUS$34.733.312.731.912.1+8.8%(1)30.511.728.911.228.511.313.425.722.99.019.68.210.417.46.815.15.813.85.312.64.721.320.619.718.817.817.215.313.911.310.69.38.67.92016201720182019202020212022202320242025202620272028Commercial

service

roboticsConsumer

service

robotics9Notes:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023Sources:With

revenue

of

US$

8.3

billion,

Asia

is

the

biggestmarket

among

selectedregions

in

2022Market

Size:

Regional

Comparison

(1/2)revenue

forecast

inbillionUS$+6.8%(1)+4.7%(1)+4.0%(1)12.410.810.48.28.28.3+1.2%(1)+4.3%(1)0.70.70.30.42022202820222028202220282022202820222028EuropeAfricaAmericasAsiaAustralia&Oceania10

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023With

revenue

of

US$

6.4

billion,

the

United

States

is

the

biggest

market

amongselected

countries

in

2022Market

Size:

Regional

Comparison

(2/2)revenue

forecast

inbillionUS$+5.1%(1)+9.5%(1)8.67.76.44.5+2.1%(1)+8.1%(1)+1.8%(1)2.42.21.61.11.01.02022202820222028202220282022202820222028ChinaUnited

StatesUnited

KingdomGermanyFrance11

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023Service

robotics

volume

are

estimated

to

increase

from

2016

to

2028Market

Size:

Globalvolumeforecast

inmillionUS$3.02.61.82.51.82.31.82.52.01.51.00.50.02.21.92.22.02.11.91.91.91.81.61.81.51.81.21.70.91.70.61.70.72016201720182019202020212022202320242025202620272028Commercial

service

roboticsConsumer

service

robotics12

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023Asia

is

predicted

to

have

the

highest

number

of

service

robots

in

2028Market

Size:

Regional

Comparison

(1/2)volumeforecast

inmillion3.02.702.600.822.492.422.432.362.52.282.040.702.01.830.691.651.460.541.351.5

1.301.00.830.630.800.800.810.600.470.760.780.480.380.440.360.540.660.160.420.140.610.160.630.170.630.180.630.180.560.150.630.180.50.00.140.030.180.150.120.030.130.040.040.040.0420210.052022Europe0.050.042024Americas

Asia0.040.040.040.0420162017201820192020Australia&Oceania20232025202620272028Africa13

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023With

volume

of

almost

a

million,

China

had

the

most

service

robots

fromselected

countries

in

2022Market

Size:

Regional

Comparison

(2/2)volumeforecast

inmillion1.450.551.51.351.250.521.161.070.990.500.930.471.00.50.00.800.420.720.600.370.530.510.100.490.100.470.330.430.280.060.420.080.380.240.100.100.100.100.110.080.090.060.050.100.060.100.090.060.070.050.090.080.050.050.060.040.040.030.040.070.030.060.050.050.060.060.0320180.042019France0.0620282016201720202021UnitedKingdom2022Germany20232024UnitedStates2025China2026202714

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023Within

Service

robotics,

price

of

commercial

robots

is

predicted

to

continueincreasing

at

a

higher

rate

than

consumer

robotsMarket

Size:

Globalpriceconsumerservicerobots

andcommercial

servicerobots,

inthousand

US$1.10.51.11.11.00.90.80.70.60.50.40.30.20.10.01.00.51.00.50.90.50.90.50.80.50.80.50.80.60.70.50.60.60.60.60.60.60.52016201720182019202020212022202320242025202620272028Consumer

service

roboticsCommercial

service

robotics15

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023In2027,

Australia

and

Oceania

are

predicted

to

have

the

highest

price

perservice

robot,

amounting

to

1.7

thousand

US$Market

Size:

Regional

Comparison

(1/2)pricepernewinstalledservicerobot,

inthousandUS$1.81.61.61.71.61.61.51.61.51.61.41.21.00.80.60.40.20.01.51.41.51.41.41.31.41.31.31.31.31.31.31.41.11.21.41.11.21.21.20.91.30.91.00.90.90.90.40.20.50.20.40.20.40.20.40.20.40.20.40.20.30.20.30.20.30.10.30.10.20.1201620172018201920202021202220232024202520262027AfricaAsiaAmericasEuropeAustralia&Oceania16

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023Service

robots

had

the

highest

price

in

Germany

in

2022,

passing

2000

US$Market

Size:

Regional

Comparison

(2/2)pricepernewinstalledservicerobot,

inthousandUS$2.52.01.51.00.50.02.32.01.62.31.92.31.91.61.52.32.31.92.31.92.22.21.82.12.12.12.12.02.01.71.81.61.71.41.51.71.51.71.41.71.41.61.31.51.51.51.31.51.51.51.51.31.21.21.21.51.40.51.20.50.50.50.50.50.50.50.40.40.40.40.32016201720182019202020212022202320242025202620272028ChinaUnitedStatesUnitedKingdomFranceGermany17

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023Inthe

Service

robotics

market

collaborative

robots

amounted

to

7%

of

totalservice

robotics

marketFurtherMarket

AnalysisShare

ofcollaborative

andtraditional

robots,

inpercent7.0%93.0%Collaborative

robot

share

Service

roboticsTraditional

robotics

shareService

robotics18Sources:Market

Insights

2023In2022,

Intuitive

Surgical

had

the

highest

market

share

in

Service

roboticsFurtherMarket

AnalysisMarket

sharein202219Sources:Market

Insights

2023Within

Commercial

service

robotics,

Medical

robotics

was

the

biggest

market,amounting

to

9.5

billion

US$

in

2022Commercial

service

roboticsrevenue

forecast

inbillionUS$21.31.720.61.719.71.618.81.5+8.7%(1)15.317.81.42.217.22.02.72.62.51.32.313.91.81.21.11.811.31.510.61.81.011.89.31.711.51.011.28.61.610.87.91.63.80.910.410.50.90.99.58.36.85.85.04.44.85.14.54.13.73.32.72.81.51.61.81.92.12016201720182019202020212022202320242025202620272028OtherservicesMedicalLogisticsAgriculture20

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023CHAPTER

3AppendixMARKET

INSIGHTSMarket

Insights

–

market

data,forecasts,

and

qualitative

insightsGainabetter