Service Robotics Market Size Will Grow At A 23.7% CAGR from 2014 to 2020: Grand View Research, Inc.
The global service robotics market is projected to reach USD 15.69 billion by 2020, at an expected CAGR of 23.7% from 2014 to 2020. The demand for the global service robotics is anticipated to surpass 18 million units by 2020. The major factor driving the industry is the rising occurrences of supported living and the demand to fight against increasing costs of labor in the developed countries. Global service robotics market by application, 2012 - 2020 (USD Billion) The foremost advantage offered by service robotics includes assistance in carrying out those tasks which would otherwise have been tough and risky. Moreover, the ordinary routine tasks can be effortlessly dealt with having a high degree of accuracy with the help of these devices. The global industry has witnessed a massive growth in the number of companies trying to enter the industry and gain share by evolving and refining their automation techniques. The components involved in the manufacturin...