Professional Service Robots Global Market Report 2024

The global professional service robots market has grown exponentially in recent years. It will grow from $46.2 billion in 2023 to $64.29 billion in 2024 at a compound annual growth rate (CAGR) of 39.1%. The growth observed in the historical period was driven by several factors, including labor shortages, the development of industry-specific solutions, initiatives aimed at cost reduction, the impact of an aging population, and a collective focus on enhancing safety and efficiency within various sectors.

The global professional service robots market is expected to see exponential growth in the next few years. It will grow to $244.91 billion in 2028 at a compound annual growth rate (CAGR) of 39.7%. Anticipated growth in the upcoming period is linked to several factors, including advancements in AI, innovation within healthcare, developments in logistics and warehousing, the rise of collaborative robots (cobots), and the integration of autonomous vehicles. Noteworthy trends expected in this period encompass a focus on customization and adaptability, adjustments in regulations to accommodate technological advancements, the emergence of personal assistance robots, the increasing use of remote operations and monitoring, as well as advancements in agricultural robotics.

Increasing demand for automation across industries is poised to drive the growth of the professional service robot market in the foreseeable future. Automation, encompassing various technological applications such as IT, business process automation, and personal applications like home automation, offers benefits like enhanced productivity, efficient resource utilization, improved safety, and higher product quality. For instance, as per Bank of America analysis in June 2021, software firms in the US are projected to trim headcount by 3 million by 2022, with around 0.7 million roles expected to be replaced by Robotic Process Automation (RPA) alone, leading to substantial cost savings. This surge in automation demand significantly influences the professional service robot market.

The surge in urbanization is expected to fuel the growth of the professional service robot market in the coming years. Urbanization, characterized by increased population concentration in urban areas, drives a heightened demand for various services. Professional service robots play a pivotal role in meeting the needs of densely populated urban environments across sectors like healthcare, logistics, security, and hospitality. According to a 2022 World Bank report, over half of the global population resides in urban regions, with projections indicating a 1.5-fold increase to 6 billion people by 2045. As urban areas expand at a rate faster than population growth, the demand for professional service robots continues to rise, driving market growth.

Leading companies in the professional service robot market are focused on developing cutting-edge products, such as state-of-the-art robots, to cater to larger customer bases, boost sales, and increase revenue. These state-of-the-art robots represent the pinnacle of technological advancements in robotics, offering advanced features and capabilities. For instance, Amazon introduced Sparrow in November 2022, an intelligent robotic system designed for autonomous identification and management of products in warehouses. Utilizing computer vision and AI, Sparrow revolutionizes industrial robotics technology, enhancing warehouse operations significantly.

Major players in the professional service robot market are innovating by introducing AI-serving robots to expand customer bases, drive sales, and enhance revenue streams. These AI-serving robots are equipped with AI capabilities enabling them to perform diverse service-oriented tasks. For instance, in May 2023, KT Corporation launched two AI service robots with improved weight detection and driving stability features. These robots, equipped with displays for marketing and guidance purposes, are tailored for use in restaurants and various indoor facilities, showcasing the evolving capabilities of service robots.

In April 2021, Accenture expanded its portfolio by acquiring Pollux, a Brazil-based company specializing in automation and industrial robotics. This acquisition bolstered Accenture's offerings across multiple industries by integrating Pollux Automation's expertise in providing industrial robot solutions. Pollux Automation, known for its professional robot solutions, became a significant addition to Accenture's service portfolio.

Major companies operating in the professional service robots market report are Northrop Grumman Corporation, Boston Dynamics Inc., Daifuku Co. Ltd., Aethon Inc., Electrolux AB, Kuka AG, iRobot Corporation, Robert Bosch GMBH, Elbit Systems Ltd., Gecko Systems International Corporation, Yujin Robot Co. Ltd., Cyberdyne Inc., Ontario Drive & Gear Ltd., Softbank Robotics Group, Ryonic Robotics, Brokk AB, Husqvarna Group, Beijing Borui Intelligent Control Technology, Honeybee Robotics LLC, Pure Technologies Ltd., Hanool Robotics Crop., Diakont, Conjet AB, TopTec Spezialmaschinen GmbH, ULC Robotics International Limited, Giant Hydraulic Tech Co. Ltd., Intuitive Surgical Inc., JD.com Inc., Samsung Electronics Co. Ltd., SZ DJI Technology Co. Ltd., Kongsberg Maritime AS, DeLaval International AB, Exyn Technologies, XAG Co Ltd., Diligent Corporation

North America was the largest region in the professional service robots market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the professional service robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the professional service robots market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

These robots encompass UAVs, unmanned ground-based vehicles, demining robots, defense robots, construction robots, and more. UAVs, for instance, are autonomous or remotely guided military aircraft equipped with sensors, munitions, or electronic transmitters used for various applications across industries like oil and gas, construction, mining, defense, automotive, medical, logistics, and more, catering to residential, commercial, and industrial needs. These robots offer both hardware and software solutions to meet diverse operational requirements.

This report provides professional service robots market statistics, including professional service robots industry global market size, regional shares, competitors with a professional service robots market share, detailed professional service robots market segments, market trends and opportunities, and any further data you may need to thrive in the professional service robots industry. This professional service robots market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The professional service robots market consists of sales of articulated robots, cartesian robots, SCARA robots, and delta robots. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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