The Report pegs the Global Service Robotics Market at close to US$5.6 bn in 2014. The market is expected to reach US$22.5 bn by 2021. If the figures hold true, the market will exhibit a robust CAGR of 18.80% between 2015 and 2021.

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As the demand for automation rises from every sector of an economy, companies invest more on research and development of the latest technologies and equipment aimed at reducing the burden on human labor. A trend similar to this is observed in the defense and military sectors globally, which the report evaluates and examines in detail. Demand for service robotics, particularly from the defense industry, is expected to rise as tensions pertaining to bilateral relations between several neighboring countries escalate. Unmanned aerial vehicles and ground vehicles are the most popular service robots deployed by the defense sector. The use of these robots is likely to reduce the number of casualties and deaths during war.

Apart from increasing demand from the defense sector, rapid industrialization is also aiding growth of the global service robotics market. Service robots are faster and more efficient than humans at almost any task. Thus, they help improve efficiency and reduce work time particularly, in the manufacturing sector. Service robots are used across industries to carry out different functions such as packaging, welding, painting, and lifting heavy objects.

For the purpose of the study, the report segments the global service robotics market into personal and professional service robots based on product type. Of these, professional service robots led the market in 2014. Rapid industrialization and increasing demand for automation have been fuelling the demand for professional service robots worldwide.Based on application, the market is segmented into agriculture, defense, logistics, healthcare, infrastructure, aerospace, research and development, entertainment, and others. Of these, the defense sector accounted for the majority of demand. The defense segment accounted for 17.8% of the market, trailed by the healthcare segment, which held 14.1% of the market in 2014.

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Regionally, the global service robotics market is segmented into Asia Pacific, Europe, North America, and Rest of the World. Of these, North America held the largest share of market in 2014, followed by Asia Pacific, Europe, and Rest of the World.

Global Service Robotics Market, by Product

> Professional service robots
> Personal service robots

Global Service Robotics Market, by Application:

> Defense
> Agriculture
> Health care
> Logistics
> Aerospace
> Infrastructure
> Entertainment
> Research and development
> Others

Global Service Robotics Market, by Geography:

> North America
> Europe
> Asia Pacific
> RoW

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