The global Robots for Commercial Service market size was valued at $21.02 billion in 2020, and is projected to reach $110.7 billion by 2030, growing at a CAGR of 22.6% from 2021 to 2030.
Global Robots for Commercial Service Market: Breakup by Region, 2022 & 2031
Source: Primary Research and Secondary Research Analysis
Robots for commercial service refer to autonomous machines designed and programmed to perform various tasks in service industries such as retail, hospitality, healthcare, and more. These robots are equipped with various sensors, cameras, and artificial intelligence technologies that enable them to perform a wide range of tasks, such as customer service, cleaning, delivery, and even medical procedures. Robots for commercial service are becoming increasingly popular due to their ability to enhance service quality, increase efficiency, and reduce costs. They are also seen as a solution to the growing demand for automation and the need to minimize human contact in the wake of the COVID-19 pandemic.
Commercial robotics have increased widespread acceptance in a variation of professional and personal applications owing to benefits such as delivery of precise and high-quality services that decreased operating expenses & human mistakes and improved usability & dependability. Besides, owing to rise in labor costs and scarcity of trained workers, numerous companies have adopted robotic technology to overcome human error operations and enhance productivity. Additionally, development in awareness regarding the benefits of robots, rise in R&D investments, and surge in demand for automation in personal & professional sector has increased the demand for service robots. Though, factors such as upsurge in raw material and semiconductor chips prices have negatively impacted the marketplace development. Also, high initial investment and high maintenance cost has also restrained the commercial robotics marketplace development.
One of the main drivers of this market is the growing demand for automation in various commercial service sectors such as retail, healthcare, and hospitality. Robots can be programmed to perform a wide range of tasks, from providing customer service and support to performing complex medical procedures. This has the potential to improve service quality, reduce costs, and increase efficiency.
Another key driver of the robots for commercial service market is the increasing use of artificial intelligence (AI) and machine learning technologies. These technologies enable robots to learn and adapt to their surroundings, making them more effective at performing tasks and improving overall performance. As a result, more and more businesses are investing in AI-powered robots to enhance their service offerings and stay competitive in today's market.
Global Robots for Commercial Service Market Research Report, 2020-2031.
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Global Robots for Commercial Service Market Research Report, 2020-2031.
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