(MENAFN- EIN Presswire) WILMINGTON, DE, UNITED STATES, April 11, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled,“North America and Europe Service Robotics Systems Market by Component and Application: opportunity analysis and industry forecast, 2023–2032,”
The North America and Europe Service Robotics Systems market size was valued at $28,980 million in 2022, and is projected to reach $2,48,360.67 million by 2032, registering a CAGR of 24% from 2023 to 2032.
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Service robotics systems encompass a broad range of robotic applications designed to offer services and perform tasks in sectors outside traditional manufacturing. These robots are developed to operate in environments where human interaction is essential, contributing to efficiency, safety, and convenience. In healthcare, service robots may assist with surgeries, deliver medication, or provide companionship to patients. In logistics and supply chain management, robots are employed for tasks such as inventory management, order fulfillment, and warehouse automation. Retail environments see the use of service robots for customer assistance, inventory tracking, and even cleaning. The hospitality sector utilizes robots for tasks such as room service, cleaning, and concierge services. What sets service robotics apart is their adaptability to diverse contexts, often featuring sensors and AI capabilities for real-time decision-making and navigation.
As technology continues to advance, service robotics systems are likely to play an increasingly vital role in various sectors, offering innovative solutions to complex problems. Service robots are one of those robots which behave and work like that of humans and are interactive. These robots can perform those jobs which sometimes humans are reluctant to do, including cleanliness, and household chores such as dishwashing and cloth washing. They are programmed in such a way that they perform all the operations automatically based on the algorithms on which they are trained. Furthermore, they are known for their ability to do activities and take decisions like any human being. One of the major objectives of service robots is to assist humans in a highly possible way. Their functioning is solely based on programming done by the engineers, which is done with the help of many programming languages and frameworks.
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Competitive Analysis:
The competitive environment of North America and Europe Service Robotics Systems Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, North America and Europe Service Robotics Systems Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Key Players:
Yaskawa Electric
Amazon Robotics LLC
Honda Motor Co. Ltd
Softbank Robotics
Kawasaki Heavy Industries
ABB Ltd
Alphabet (Google LLC)
KUKA AG
Fanuc Corporation
IRobot Corporation
Intuitive Surgical
Boston Dynamics
Teradyne Corporation
Honeywell Robotics
Clearpath Robotics and Many More
Region-wise, Europe dominated the service robotics systems market share in 2022 and is expected to continue this trend during the forecast period, owing to the increasing integration of artificial intelligence (AI) and machine learning into the service robotics system market enhance their adaptability and decision-making capabilities. This trend presents opportunities for developing advanced algorithms, particularly in natural language processing, computer vision, and autonomous navigation. However, the North America is expected to witness highest growth, owing to increased investment in automation across industries such as 5G connectivity, cloud robotics, and artificial intelligence as well as the development of smarter, faster configurable, and adaptable robotics systems. In addition, North American suppliers are pushing robotics to new heights, launching pilots for semi-autonomous and autonomous robotics, robotic kitchen helpers, underwater inspection robots, and exoskeletons.
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In recent years, the technological landscape of service robotics has seen a surge in the adoption of artificial intelligence and machine learning, enabling robots to exhibit advanced cognitive capabilities. These technologies empower robots to not only perform predefined tasks but also learn from their experiences, adapt to changing environments, and optimize their performance over time. This learning aspect is particularly valuable in scenarios where robots need to handle varied and unpredictable situations, such as in household assistance or healthcare settings.
Sensor technologies play a pivotal role in enhancing the perceptual abilities of service robots. Computer vision, which allows robots to interpret and understand visual information, has become increasingly sophisticated. Depth sensing technologies, such as LiDAR and 3D cameras, contribute to better navigation and spatial awareness for robots, enabling them to navigate through complex environments with greater precision and safety. These advancements are crucial for applications like autonomous cleaning robots or robotic assistants in busy public spaces. Human-robot collaboration has emerged as a significant trend, emphasizing the development of collaborative robots or cobots. These robots are designed to work alongside humans, sharing workspace and tasks in a cooperative manner. This collaborative approach finds applications in manufacturing, healthcare, and logistics, where robots can assist and augment human capabilities rather than replacing them entirely. The design of safer and more intuitive human-robot interfaces further facilitates effective teamwork.
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