Service Robotics Market Report, Global Industry Analysis, Market Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2023 - 2030

  • Published Date: Jan, 2024
  • Report ID: CR0207259
  • Format: Electronic (PDF)
  • Number of Pages: 211
  • Author(s): Joshi, Madhavi

Report Overview

The Service Robotics Market size was estimated at USD 18 billion in 2023 and is projected to reach USD 45 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 16.00% during the forecast period (2024-2030).

Service Robotics Market

(Market Size)
$18 billion
$45 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 16.00%
2023 Market Size USD 18 billion
2030 Market Size USD 45 billion
Key Players iRobot, Intuitive Surgical, KUKA, Daifuku, Northrop Grumman

Market Summary

The service robotics market within the manufacturing and construction sectors represents a dynamic and rapidly advancing segment of industrial automation. These robotic systems are designed to perform a variety of tasks, enhancing operational efficiency, improving worker safety, and reducing overall production costs. The adoption of these technologies is fundamentally transforming traditional workflows, enabling a shift towards more flexible, precise, and data-driven operations. Key activities automated include material handling, assembly, welding, inspection, and even complex construction tasks like bricklaying and demolition. The integration of sophisticated technologies such as artificial intelligence, machine learning, and advanced sensors is a central theme, allowing robots to operate with greater autonomy and adapt to changing environments. This market is characterized by continuous innovation, with leading robotics companies and new entrants developing solutions to address specific industry pain points. The demand is further propelled by global trends such as labor shortages, the need for higher quality standards, and the overarching movement towards Industry 4.0 and smart factory concepts. As a result, the service robotics market is not just growing but is also becoming increasingly integral to the competitive strategy of manufacturing and construction firms worldwide.

Key Highlights

A primary highlight of the service robotics market is the significant enhancement in workplace safety. Robots are deployed to undertake dangerous tasks, such as working in hazardous environments, handling heavy materials, or performing precise operations in confined spaces, thereby minimizing human exposure to risk. Another critical highlight is the substantial improvement in productivity and operational consistency. Robotic systems can operate continuously without fatigue, maintaining a high level of accuracy and repeatability that is difficult to achieve manually. This leads to reduced error rates, less material waste, and higher overall output quality. The market is also distinguished by the growing trend of human-robot collaboration, where cobots (collaborative robots) work alongside human workers, augmenting their capabilities rather than replacing them. Furthermore, the data collection capabilities of modern service robots provide invaluable insights for predictive maintenance and process optimization, creating a more intelligent and responsive operational framework. The versatility of robotic applications, from automated guided vehicles (AGVs) in logistics to drones for site surveying in construction, underscores the transformative potential of this technology across the entire value chain.

Drivers, Opportunities & Restraints

The expansion of the service robotics market is driven by several powerful factors. A persistent shortage of skilled labor in many regions is compelling companies to invest in automation to maintain production levels. Concurrently, the rising cost of human labor and the increasing emphasis on workplace safety regulations are making robotic solutions a financially and ethically attractive alternative. The push for higher precision, quality, and efficiency in manufacturing processes to meet global competition is another fundamental driver. Significant opportunities lie in the further integration of AI and IoT, which will enable the next generation of smarter, more interconnected, and self-optimizing robotic systems. The construction industry, in particular, presents a vast untapped potential for robotics to address challenges related to productivity, safety, and project timelines. However, the market growth is not without restraints. The high initial capital investment required for acquiring and deploying advanced robotic systems can be a significant barrier, especially for small and medium-sized enterprises. Furthermore, technical challenges related to the integration of robotics into existing legacy systems and workflows can complicate adoption. Concerns about workforce displacement and the need for significant retraining programs also present socio-economic hurdles that must be navigated carefully.

Concentration Insights

The competitive landscape of the service robotics market for manufacturing and construction is concentrated among a mix of established industrial automation giants and specialized robotics firms. Dominant players include companies like ABB Ltd., Fanuc Corporation, Yaskawa Electric Corporation, and KUKA AG, which have extensive experience and broad portfolios of industrial robots. These corporations possess significant R&D capabilities and global service networks, allowing them to cater to large multinational clients. Alongside these leaders, a vibrant ecosystem of specialized companies focuses on niche applications. Firms like Boston Dynamics are pioneering advanced mobility robots for inspection tasks, while construction-focused companies like Built Robotics are automating heavy machinery. This concentration indicates a market where deep technical expertise, intellectual property, and the ability to provide complete automation solutions are key to maintaining a competitive edge. Partnerships between robotics manufacturers, software developers, and system integrators are common, creating a collaborative environment aimed at delivering tailored solutions that meet the specific and evolving needs of end-users in these demanding industries.

Type Insights

The service robotics market is segmented by type, primarily into industrial robots and professional service robots, each serving distinct roles within manufacturing and construction. Industrial robots are typically stationary or fixed-arm robots designed for repetitive, high-precision tasks in controlled environments like assembly lines. These include articulated robots, SCARA robots, and Cartesian robots, which excel in applications such as welding, painting, palletizing, and machine tending. In contrast, professional service robots are often mobile and designed for a wider range of applications that may extend beyond the factory floor. This category includes Automated Guided Vehicles (AGVs) and Autonomous Mobile Robots (AMRs) for material transport within facilities. In construction, this type encompasses robotic arms for automated bricklaying and 3D printing of structures, as well as unmanned aerial vehicles (UAVs or drones) used for surveying, mapping, and progress monitoring on large sites. The evolution towards more mobile, adaptable, and collaborative robots represents a significant trend, blurring the lines between these traditional classifications and expanding the potential use cases.

Application Insights

Application insights reveal the diverse and critical roles service robots play. In manufacturing, the foremost application is in material handling, where robots streamline the movement of raw materials, components, and finished goods, optimizing logistics within warehouses and production facilities. Assembly and disassembly operations represent another major application, with robots performing intricate tasks with speed and precision, which is crucial in industries like electronics and automotive. Welding and soldering robots provide consistent, high-quality joins, while dispensing robots handle adhesives and sealants. Inspection and quality control have been revolutionized by vision-guided robots that can detect defects imperceptible to the human eye. In the construction sector, application areas are rapidly expanding. Robots are used for demolition, reducing danger to workers, and for tasks like bricklaying and tying rebar, which address labor shortages and improve build quality. Drones are extensively applied for topographic surveying, creating accurate 3D maps of sites, and monitoring construction progress, thereby enhancing project management and documentation.

Regional Insights

Regionally, the adoption and development of service robotics in manufacturing and construction show distinct patterns. The Asia-Pacific region is a dominant force, driven largely by massive manufacturing hubs in China, Japan, and South Korea. These countries are not only the largest consumers of industrial robots but also home to many of the world's leading manufacturers. Government initiatives promoting industrial automation and smart manufacturing further accelerate adoption in this region. North America holds a significant share, characterized by strong demand from the automotive, aerospace, and electronics industries, alongside a growing interest in construction robotics. The presence of major technology companies and a robust startup ecosystem focused on AI and robotics innovation contributes to its market strength. Europe demonstrates substantial growth, supported by strong industrial automation traditions in Germany and Italy, and a strong regulatory framework emphasizing workplace safety which encourages the adoption of collaborative robots. Other regions, including Latin America and the Middle East, are emerging markets where adoption is gradually increasing as awareness grows and economic conditions favor investment in automation technologies.

Company Insights

The competitive arena features a blend of long-established industrial powerhouses and agile, innovative specialists. ABB Ltd. is a key player renowned for its YuMi collaborative robot and extensive automation solutions for diverse manufacturing stages. Fanuc Corporation from Japan is a global leader in factory automation, famous for its CNCs, robotics, and ROBOMACHINEs. Yaskawa Electric Corporation, another Japanese multinational, offers a wide array of motion control products and robotics solutions under the Motoman brand. KUKA AG, from Germany, provides intelligent automation solutions ranging from robots and cells to fully automated systems. Beyond these giants, companies like Teradyne Inc., through its Universal Robots subsidiary, have been instrumental in popularizing user-friendly collaborative robots (cobots). In the construction segment, companies like Brokk AB specialize in remote-controlled demolition robots, while Built Robotics focuses on autonomous upgrade kits for standard construction equipment. This diverse company landscape indicates a healthy market with competition driving innovation in both capability and accessibility.

Recent Developments

The service robotics market is witnessing a wave of recent developments centered on enhancing intelligence, connectivity, and ease of use. A major trend is the advancement in artificial intelligence and machine learning algorithms, enabling robots to perform more complex cognitive tasks such as anomaly detection, predictive maintenance, and adaptive decision-making in unstructured environments. There is a significant push towards improving human-robot collaboration, with new cobot models featuring enhanced force sensitivity, safety protocols, and intuitive programming interfaces that allow workers with no coding experience to set up tasks. The integration of Digital Twin technology is another key development, allowing companies to simulate, optimize, and deploy robotic workflows in a virtual environment before physical implementation, reducing downtime and risk. In construction, recent progress includes the development of robots capable of autonomous navigation on dynamic and challenging job sites, as well as systems for automated rebar tying and 3D printing of large-scale concrete structures. Partnerships between robotics firms and cloud service providers are also emerging to facilitate data analytics and remote management of robotic fleets.

Report Segmentation

This comprehensive market research report on the Service Robotics Market for Manufacturing and Construction is meticulously segmented to provide a detailed and granular analysis. The segmentation allows stakeholders to understand specific market dynamics and growth patterns. The report is first segmented by type, distinguishing between traditional industrial robots, collaborative robots (cobots), and other professional service robots including mobile platforms and drones. It is further segmented by application, providing deep dives into key areas such as material handling, assembly, welding & soldering, dispensing, processing, inspection & quality control, and specific construction applications like demolition and bricklaying. Another critical layer of segmentation is by component, analyzing the market for hardware including arms, end-effectors, drives, sensors, and controllers, as well as software and services. The report also includes a regional segmentation, offering detailed analysis and forecasts for key geographic areas including North America, Europe, Asia-Pacific, and the Rest of the World. This multi-faceted segmentation ensures that the report delivers targeted insights relevant to manufacturers, component suppliers, system integrators, and end-user industries.

FAQs

What is service robotics?

Service robotics refers to robotic systems that perform useful tasks for humans or equipment, excluding industrial automation operations. In manufacturing and construction, this encompasses a wide range of robots designed to assist with tasks like material handling, inspection, assembly, and even construction itself, often working alongside human workers.

How is AI used in robotics?

Artificial Intelligence is fundamentally enhancing robotics by enabling capabilities like computer vision for object recognition and navigation, machine learning for adaptive behavior and predictive maintenance, and natural language processing for easier human-robot interaction. This allows robots to operate in more complex, unstructured environments and make autonomous decisions.

What are the types of industrial robots?

The primary types of industrial robots include articulated robots, which have rotary joints and are highly versatile; SCARA robots, designed for high-speed assembly tasks; Cartesian robots, which move on three linear axes for precise pick-and-place operations; and collaborative robots (cobots), which are designed to work safely alongside human operators.

What is the future of robotics?

The future of robotics points towards greater autonomy, intelligence, and collaboration. Robots will become more adaptive and capable of learning from their environments, leading to broader adoption in unstructured settings. The convergence of robotics with AI, IoT, and 5G will enable fleets of interconnected robots that can be managed and optimized remotely, revolutionizing logistics and production.

Which companies lead in robotics?

The market is led by established industrial automation giants such as ABB Ltd., Fanuc Corporation, Yaskawa Electric Corporation, and KUKA AG. Significant innovators also include Teradyne Inc. (Universal Robots) in collaborative robotics and specialized firms like Boston Dynamics for advanced mobility and Built Robotics for autonomous construction equipment.

How do robots help in manufacturing?

Robots significantly enhance manufacturing by dramatically increasing productivity through continuous operation, improving product quality with unmatched precision and consistency, enhancing worker safety by taking over dangerous tasks, and providing flexibility to adapt production lines quickly for new products. They also generate valuable operational data for process optimization.

Citius Research has developed a research report titled “Service Robotics Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” delivering key insights regarding business intelligence and providing concrete business strategies to clients in the form of a detailed syndicated report. The report details out the factors such as business environment, industry trend, growth opportunities, competition, pricing, global and regional market analysis, and other market related factors.

Details included in the report for the years 2024 through 2030

• Service Robotics Market Potential
• Segment-wise breakup
• Compounded annual growth rate (CAGR) for the next 6 years
• Key customers and their preferences
• Market share of major players and their competitive strength
• Existing competition in the market
• Price trend analysis
• Key trend analysis
• Market entry strategies
• Market opportunity insights

The report focuses on the drivers, restraints, opportunities, and challenges in the market based on various factors geographically. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. The Service Robotics Market report is segmented on the basis of various market segments and their analysis, both in terms of value and volume, for each region for the period under consideration.

Service Robotics Market Segmentation

Market Segmentation

Regions Covered

• North America
• Latin America
• Europe
• MENA
• Asia Pacific
• Sub-Saharan Africa and
• Australasia

Service Robotics Market Analysis

The report covers below mentioned analysis, but is not limited to:

• Overview of Service Robotics Market
• Research Methodology
• Executive Summary
• Market Dynamics of Service Robotics Market
  • Driving Factors
  • Restraints
  • Opportunities
• Global Market Status and Forecast by Segment A
• Global Market Status and Forecast by Segment B
• Global Market Status and Forecast by Segment C
• Global Market Status and Forecast by Regions
• Upstream and Downstream Market Analysis of Service Robotics Market
• Cost and Gross Margin Analysis of Service Robotics Market
• Service Robotics Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030
  • Competition Landscape
  • Market Share of Major Players
• Key Recommendations

The “Service Robotics Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” report helps the clients to take business decisions and to understand strategies of major players in the industry. The report delivers the market driven results supported by a mix of primary and secondary research. The report provides the results triangulated through authentic sources and upon conducting thorough primary interviews with the industry experts. The report includes the results on the areas where the client can focus and create point of parity and develop a competitive edge, based on real-time data results.

Service Robotics Market Key Stakeholders

Below are the key stakeholders for the Service Robotics Market:

• Manufacturers
• Distributors/Traders/Wholesalers
• Material/Component Manufacturers
• Industry Associations
• Downstream vendors

Service Robotics Market Report Scope

Report AttributeDetails
Base year2023
Historical data2018 – 2023
Forecast2024 - 2030
CAGR2024 - 2030
Quantitative UnitsValue (USD Million)
Report coverageRevenue Forecast, Competitive Landscape, Growth Factors, Trends and Strategies. Customized report options available on request
Segments coveredProduct type, technology, application, geography
Regions coveredNorth America, Latin America, Europe, MENA, Asia Pacific, Sub-Saharan Africa and Australasia
Countries coveredUS, UK, China, Japan, Germany, India, France, Brazil, Italy, Canada, Russia, South Korea, Australia, Spain, Mexico and others
Customization scopeAvailable on request
PricingVarious purchase options available as per your research needs. Discounts available on request

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the Service Robotics Market worldwide. This report discusses in detail the disruptions experienced by the market, the impact on flow of raw materials, manufacturing operations, production trends, consumer demand and the projected future of this market post pandemic.

The report has helped our clients:

• To describe and forecast the Service Robotics Market size, on the basis of various segmentations and geography, in terms of value and volume
• To measure the changing needs of customers/industries
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To gain competitive intelligence and uncover new opportunities
• To analyse opportunities in the market for stakeholders by identifying high-growth segments in Service Robotics Market
• To strategically profile key players and provide details of the current competitive landscape
• To analyse strategic approaches adopted by players in the market, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

Report Customization

Citius Research provides free customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.

Customize This Report

Frequently Asked Questions

The Global Service Robotics Market size was valued at $XX billion in 2023 and is anticipated to reach $XX billion by 2030 growing at a CAGR of XX%
The global Service Robotics Market is expected to grow at a CAGR of XX% from 2023 to 2030.
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Table of Contents

Chapter 1. Introduction
  1.1. Market Scope
  1.2. Key Segmentations
  1.3. Research Objective
Chapter 2. Research Methodology & Assumptions
Chapter 3. Executive Summary
Chapter 4. Market Background
  4.1. Dynamics
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunity
    4.1.4. Challenges
  4.2. Key Trends in the Impacting the Market
    4.2.1. Demand & Supply
  4.3. Industry SWOT Analysis
  4.4. Porter’s Five Forces Analysis
  4.5. Value and Supply Chain Analysis
  4.6. Macro-Economic Factors
  4.7. COVID-19 Impact Analysis
    4.7.1. Global and Regional Assessment
  4.8. Profit Margin Analysis
  4.9. Trade Analysis
    4.9.1. Importing Countries
    4.9.2. Exporting Countries
  4.10. Market Entry Strategies
  4.11. Market Assessment (US$ Mn and Units)
Chapter 5. Global Service Robotics Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment A
  5.1. By Segment A, 2024 - 2030
    5.1.1. Sub-Segment A
    5.1.2. Sub-Segment B
  5.2. Opportunity Analysis
Chapter 6. Global Service Robotics Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment B
  6.1. By Segment B, 2024 - 2030
    6.1.1. Sub-Segment A
    6.1.2. Sub-Segment B
  6.2. Opportunity Analysis
Chapter 7. Global Service Robotics Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment C
  7.1. By Segment C, 2024 - 2030
    7.1.1. Sub-Segment A
    7.1.2. Sub-Segment B
  7.2. Opportunity Analysis
Chapter 8. Global Service Robotics Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Region
  8.1. By Region, 2024 - 2030
    8.1.1. North America
    8.1.2. Latin America
    8.1.3. Europe
    8.1.4. MENA
    8.1.5. Asia Pacific
    8.1.6. Sub-Saharan Africa
    8.1.7. Australasia
  8.2. Opportunity Analysis
Chapter 9. North America Service Robotics Market Forecast and Trend Analysis
  9.1. Regional Overview
  9.2. Pricing Analysis
  9.3. Key Trends in the Region
    9.3.1. Supply and Demand
  9.4. Demographic Structure
  9.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    9.5.1. Sub-Segment A
    9.5.2. Sub-Segment B
  9.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    9.6.1. Sub-Segment A
    9.6.2. Sub-Segment B
  9.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    9.7.1. Sub-Segment A
    9.7.2. Sub-Segment B
  9.8. By Country, 2024 - 2030, (US$ Mn and Units)
    9.8.1. U.S.
    9.8.2. Canada
    9.8.3. Rest of North America
  9.9. Opportunity Analysis
Chapter 10. Latin America Service Robotics Market Forecast and Trend Analysis
  10.1. Regional Overview
  10.2. Pricing Analysis
  10.3. Key Trends in the Region
    10.3.1. Supply and Demand
  10.4. Demographic Structure
  10.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    10.5.1. Sub-Segment A
    10.5.2. Sub-Segment B
  10.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    10.6.1. Sub-Segment A
    10.6.2. Sub-Segment B
  10.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    10.7.1. Sub-Segment A
    10.7.2. Sub-Segment B
  10.8. By Country, 2024 - 2030, (US$ Mn and Units)
    10.8.1. Brazil
    10.8.2. Argentina
    10.8.3. Rest of Latin America
  10.9. Opportunity Analysis
Chapter 11. Europe Service Robotics Market Forecast and Trend Analysis
  11.1. Regional Overview
  11.2. Pricing Analysis
  11.3. Key Trends in the Region
    11.3.1. Supply and Demand
  11.4. Demographic Structure
  11.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    11.5.1. Sub-Segment A
    11.5.2. Sub-Segment B
  11.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    11.6.1. Sub-Segment A
    11.6.2. Sub-Segment B
  11.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    11.7.1. Sub-Segment A
    11.7.2. Sub-Segment B
  11.8. By Country, 2024 - 2030, (US$ Mn and Units)
    11.8.1. UK
    11.8.2. Germany
    11.8.3. France
    11.8.4. Spain
    11.8.5. Rest of Europe
  11.9. Opportunity Analysis
Chapter 12. MENA Service Robotics Market Forecast and Trend Analysis
  12.1. Regional Overview
  12.2. Pricing Analysis
  12.3. Key Trends in the Region
    12.3.1. Supply and Demand
  12.4. Demographic Structure
  12.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    12.5.1. Sub-Segment A
    12.5.2. Sub-Segment B
  12.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    12.6.1. Sub-Segment A
    12.6.2. Sub-Segment B
  12.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    12.7.1. Sub-Segment A
    12.7.2. Sub-Segment B
  12.8. By Country, 2024 - 2030, (US$ Mn and Units)
    12.8.1. Egypt
    12.8.2. Algeria
    12.8.3. GCC
    12.8.4. Rest of MENA
  12.9. Opportunity Analysis
Chapter 13. Asia Pacific Service Robotics Market Forecast and Trend Analysis
  13.1. Regional Overview
  13.2. Pricing Analysis
  13.3. Key Trends in the Region
    13.3.1. Supply and Demand
  13.4. Demographic Structure
  13.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    13.5.1. Sub-Segment A
    13.5.2. Sub-Segment B
  13.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    13.6.1. Sub-Segment A
    13.6.2. Sub-Segment B
  13.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    13.7.1. Sub-Segment A
    13.7.2. Sub-Segment B
  13.8. By Country, 2024 - 2030, (US$ Mn and Units)
    13.8.1. India
    13.8.2. China
    13.8.3. Japan
    13.8.4. ASEAN
    13.8.5. Rest of Asia Pacific
  13.9. Opportunity Analysis
Chapter 14. Sub-Saharan Africa Service Robotics Market Forecast and Trend Analysis
  14.1. Regional Overview
  14.2. Pricing Analysis
  14.3. Key Trends in the Region
    14.3.1. Supply and Demand
  14.4. Demographic Structure
  14.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    14.5.1. Sub-Segment A
    14.5.2. Sub-Segment B
  14.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    14.6.1. Sub-Segment A
    14.6.2. Sub-Segment B
  14.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    14.7.1. Sub-Segment A
    14.7.2. Sub-Segment B
  14.8. By Country, 2024 - 2030, (US$ Mn and Units)
    14.8.1. Ethiopia
    14.8.2. Nigeria
    14.8.3. Rest of Sub-Saharan Africa
  14.9. Opportunity Analysis
Chapter 15. Australasia Service Robotics Market Forecast and Trend Analysis
  15.1. Regional Overview
  15.2. Pricing Analysis
  15.3. Key Trends in the Region
    15.3.1. Supply and Demand
  15.4. Demographic Structure
  15.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    15.5.1. Sub-Segment A
    15.5.2. Sub-Segment B
  15.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    15.6.1. Sub-Segment A
    15.6.2. Sub-Segment B
  15.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    15.7.1. Sub-Segment A
    15.7.2. Sub-Segment B
  15.8. By Country, 2024 - 2030, (US$ Mn and Units)
    15.8.1. Australia
    15.8.2. New Zealand
    15.8.3. Rest of Australasia
  15.9. Opportunity Analysis
Chapter 16. Competition Analysis
  16.1. Competitive Benchmarking
    16.1.1. Top Player’s Market Share
    16.1.2. Price and Product Comparison
  16.2. Company Profiles
    16.2.1. Company A
      16.2.1.1. Company Overview
      16.2.1.2. Segmental Revenue
      16.2.1.3. Product Portfolio
      16.2.1.4. Key Developments
      16.2.1.5. Strategic Outlook
    16.2.2. Company B
      16.2.2.1. Company Overview
      16.2.2.2. Segmental Revenue
      16.2.2.3. Product Portfolio
      16.2.2.4. Key Developments
      16.2.2.5. Strategic Outlook
    16.2.3. Company C
      16.2.3.1. Company Overview
      16.2.3.2. Segmental Revenue
      16.2.3.3. Product Portfolio
      16.2.3.4. Key Developments
      16.2.3.5. Strategic Outlook
    16.2.4. Company D
      16.2.4.1. Company Overview
      16.2.4.2. Segmental Revenue
      16.2.4.3. Product Portfolio
      16.2.4.4. Key Developments
      16.2.4.5. Strategic Outlook
    16.2.5. Company E
      16.2.5.1. Company Overview
      16.2.5.2. Segmental Revenue
      16.2.5.3. Product Portfolio
      16.2.5.4. Key Developments
      16.2.5.5. Strategic Outlook
    16.2.6. Company F
      16.2.6.1. Company Overview
      16.2.6.2. Segmental Revenue
      16.2.6.3. Product Portfolio
      16.2.6.4. Key Developments
      16.2.6.5. Strategic Outlook
    16.2.7. Company G
      16.2.7.1. Company Overview
      16.2.7.2. Segmental Revenue
      16.2.7.3. Product Portfolio
      16.2.7.4. Key Developments
      16.2.7.5. Strategic Outlook
    16.2.8. Company H
      16.2.8.1. Company Overview
      16.2.8.2. Segmental Revenue
      16.2.8.3. Product Portfolio
      16.2.8.4. Key Developments
      16.2.8.5. Strategic Outlook
    16.2.9. Company I
      16.2.9.1. Company Overview
      16.2.9.2. Segmental Revenue
      16.2.9.3. Product Portfolio
      16.2.9.4. Key Developments
      16.2.9.5. Strategic Outlook
    16.2.10. Company J
      16.2.10.1. Company Overview
      16.2.10.2. Segmental Revenue
      16.2.10.3. Product Portfolio
      16.2.10.4. Key Developments
      16.2.10.5. Strategic Outlook
Chapter 17. Go-To-Market Strategy

Research Methodology

We follow a robust research methodology to analyze the market in order to provide our clients with qualitative and quantitative analysis which has a very low or negligible deviance. Extensive secondary research supported by primary data collection methods help us to thoroughly understand and gauge the market. We incorporate both top-down and bottom-up approach for estimating the market. The below mentioned methods are then adopted to triangulate and validate the market.

Secondary data collection and interpretation

Secondary research includes sources such as published books, articles in journals, news media and published businesses, government and international body publications, and associations. Sources also include paid databases such as Hoovers, Thomson Reuters, Passport and others. Data derived through secondary sources is further validated through primary sources. The secondary sources also include major manufacturers mapped on the basis of revenues, product portfolios, and sales channels.

Primary data collection

Primary data collection methods include conducting interviews with industry experts and various stakeholders across the supply chain, such as raw material suppliers, manufacturers, product distributors and customers. The interviews are either telephonic or face-to-face, or even a combination of both. Prevailing trends in the industry are gathered by conducting surveys. Primary interviews also help us to understand the market drivers, restraints and opportunities, along with the challenges in the market. This method helps us in validating the data gathered through secondary sources, further triangulating the data and developing it through our statistical tools. We generally conduct interviews with -

  • CEOs, Directors, and VPs
  • Sales and Marketing Managers
  • Plant Heads and Manufacturing Department Heads
  • Product Specialists

Supply Side and Demand Side Data Collection

Supply side analysis is based on the data collected from the manufacturers and the product providers in terms of their segmental revenues. Secondary sources for this type of analysis include company annual reports and publications, associations and organisations, government publications and others.

Demand side analysis is based upon the consumer insights who are the end users of the particular product in question. They could be an individual user or an organisation. Such data is gathered through consumer surveys and focused group interviews.

Market Engineering

As a primary step, in order to develop the market numbers we follow a vigorous methodology that includes studying the parent market of the niche product and understanding the industry trends, acceptance among customers of the product, challenges, future growth, and others, followed by further breaking down the market under consideration into various segments and sub-markets. Additionally, in order to cross-validate the market, we also determine the top players in the market, along with their segmental revenues for the said market. Our secondary sources help us to validate the market share of the top players. Using both the qualitative and quantitative analysis of all the possible factors helps us determine the market numbers which are inclined towards accuracy.

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