Service robots can be used to provide domestic aid for the elderly and disabled; serving various functions ranging from cleaning to entertainment. The high cost of labor in developed countries and the increasing need for assisted living has led to the development of the service robotics market. The saturation of industrial robotics industry also lends significant growth potential to this nascent market. As service robots are in greater proximity to humans, the technology involves more safety concerns over human-machine interaction. However, developments in the manufacture of intelligent and safer robots are expected to soon address the issues of safety, manipulation, and sensing. Thus, leading robotics companies have begun preparing for the day when every home will have a robot.

The global service robotics market is projected to grow from in 2009 to $21 billion in 2014 at a high CAGR of 57% from 2009 to 2014. Market growth is driven mainly by the introduction of new robotic technologies such as robodocs and unmanned AUVs (autonomous underwater vehicles). The global service robotics market is categorized into the submarkets for professional and personal service robotics. Defence, rescue, and security robots generated the highest revenue in the global market for professional service robots.

The briefing on the global service robotics market (2009-2014) will benefit the robot manufacturers, robot component manufacturers, software developers, sensors and actuators manufacturers, and research laboratories.

“We can expect to see significant growth opportunities for researchers and manufacturers as the demand for professional service robots increases with the rising cost of labor in developed countries; while the market for personal service robots will grow due to the increasing need for assisted living.” notes MarketsandMarkets. “However, concerns about human safety and about the current inability of robots to work efficiently in unstructured environments still form major growth challenges for the service robotics industry”.

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