Global Service Robotics Market to grow with 24.6% CAGR from 2022-2027

According to Renub Research, report titled “Service Robotics Market, Size, Global Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis” the Global Service Robotics Market is predicted to be US$ 42.25 Billion by 2027. Globally, service robots are the kind of robots that are designed to aid humans and perform practical tasks, excluding industrial and manufacturing automation applications. They work semi-automatically or entirely autonomously and are capable of doing repetitive and risky tasks while increasing efficiency and safety.

Due to benefits such as improved usability, delivery of accurate and high-quality service, reliability, reduced operational expenses, and human errors, service robots are utilized in various industries, including healthcare, defense & security, agriculture, forestry, logistics, and construction. Furthermore, because of the fast-paced technical developments converging in automation, machine learning, engineering, and artificial intelligence, the robotics industry is rapidly allowing the service robotics market trends around the world.