The service robotics market is projected to reach USD 84.8 billion by 2028 from USD 41.5 billion in 2023; it is expected to grow at a CAGR of 15.4% from 2023 to 2028.
Growing adoption of
robots for new applications, surging use of IoT in robots for cost-effective
predictive maintenance, and increasing use of disinfection robots due to rising
cases of hospital-acquired infections (HAIs) are driving the growth of the
service robotics market. Robots are increasingly being adopted for new
applications due to advantages such as increased productivity, streamlined
processes, and greater workplace safety.
Driver: Increasing
funding for research on robots
The funding for research
on service robotics has increased significantly in the past few years, with
various governments taking initiatives. According to the National Artificial
Intelligence Research and Development Strategic Plan, by 2028, AI researchers
in G20 countries are expected to contribute ~USD 11.5 trillion to intelligent
technologies. Various countries are investing heavily in robotics mostly on a
government level. For instance, the Government of China provided funding of USD
43.5 million for ‘the Key Special Program on Intelligent Robots in 2022’. In
Japan, a budget of USD 440 million was assigned to robotics-related projects in
the Moonshot Research and Development Program over 5 years from 2020 to 2025.
Restraint: Concerns over
data privacy and regulations
With the rise of
software services for robotics, there are ethical issues with data ownership.
In the case of delivery robots, public traffic areas designated for pedestrians
are used, which binds them to operate under a legal, regulatory framework. Most
western legal authorities hold the manufacturer responsible for the tort of
negligence if a delivery robot causes damage or injury to a user or people
passing by the robot. In February 2020, Nuro’s (US) R2 became the first
autonomous delivery vehicle in the US to get a permit from the Department of
Transportation for testing on public roads. Therefore, stringent regulations
are delaying the penetration of delivery robots.
Opportunity: Focus on
improving endurance and capability of robots
Despite huge
advancements in robotics, robots developed until now do not match the
capabilities of human beings. There is an opportunity to improve natural
language processing and user interfaces to improve the ability of humanoid
robots for more interactive communication. Drones are limited to areas that
have access to Wi-Fi. A few companies offer Wi-Fi or communication
network-related products or services. For instance, Whizpace (Singapore) offers
Super Wi-Fi, which utilizes white space communication and provides services in
rural and remote areas. Partnerships with such companies would increase the
operating range of drones.
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Challenge: Inaccurate
results impeding use in critical operations
If robots manufactured
by all companies are considered, the average distance covered by a robot is 10
km on a single charge, with its service limited to short distances from the hub
or warehouse. Robots are designed to walk or travel on sidewalks, but they are
not functional enough to climb stairs. The navigation of completely autonomous
delivery robots is also a key challenge faced by manufacturers. It requires
tasks such as building a map of the environment, localizing the robot in that
map, and making a motion plan according to the map to be performed
simultaneously so that the robots can travel or operate easily in uncontrolled
environments or without any human intervention.
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