The Market for Service Robots is Expanding Rapidly

Service Robots

A professional service robot is defined as a semi- or fully autonomous robot for automation of commercial tasks, excluding manufacturing operations.

Service robots for professional use are experiencing a technological revolution. A rapid proliferation in robot capabilities – driven by innovations in machine learning, artificial intelligence, adaptive computing and vision systems – is causing the market to nearly triple in value. The combined market value for 2019 through 2021 for professional service robots is estimated to be worth $37 Billion, according to the International Federation of Robotics World Robotics 2018 Service Robots report.

A major factor in the strong future of service robots for professional use is the introduction of the Robots-as-a-Service (RaaS) model of ownership. By leasing either the cloud computing capabilities or the robot itself, the capital barriers to adoption are effectively minimized. As investment increases and technology advances, ample opportunity awaits those interested in finding success in this dynamic, emerging industry.

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