The service robotics market is projected to grow from USD 47.10 billion in 2024 to reach USD 98.65 billion by 2029; it is expected to grow at a CAGR of 15.9% from 2024 to 2029.

Growing emphasis on reducing hospital-acquired infections is one of the major drivers in the service robotics market. Hospital-acquired infections (HAIs) are widespread, particularly in acute care hospitals. Acute care hospitals need to disinfect patient rooms and beds regularly. The necessity to cut labor expenses and HAls has led to the development of disinfection robots. These robots efficiently lower HAls infection rates by using ultraviolet-C (UV-C) light and hydrogen peroxide mist dispersion. Hospitals and medical facilities around the world have been forced by the global pandemic to give social and hand hygiene top priority.

The use of disinfection robots has increased dramatically due to the rising prevalence of HAls, which is currently between 5 and 10%, as well as the continued consequences of the epidemic. In the upcoming years, it is anticipated to keep increasing. Strict criteria have been set by numerous government facilities and hospital management teams to guarantee that all hospital surroundings are free of germs. Installing disinfection robots in hospital facilities has been a top priority in a number of emerging nations due to the growing threat of infectious illnesses and rising mortality rates.

Analysis of key drivers (Mounting adoption of robots to achieve high returns on investment, rising deployment of Internet of Things to enable cost-effective predictive maintenance, growing emphasis on reducing hospital-acquired infections, increasing interest in robotics research, and rising insurance coverage for medical exoskeletons and robotic surgeries), restraints (Concerns regarding data privacy and regulations), opportunities (Increasing reliance on robots to assist handicapped and geriatric population, growing focus on improving endurance and capability of robots, and adoption of swarm intelligence technology to enable robots to perform complex tasks), and challenges (Technical issues of robots) influencing the growth of the service robotics market.

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the service robotics market

Market Development: Comprehensive information about lucrative markets - the report analyses the service robotics market across varied regions

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the service robotics market

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like iRobot Corporation (US), Softbank Robotics Group (Japan), Intuitive Surgical Operations, Inc. (US), Samsung Electronics Co., Ltd. (South Korea), JD.com, Inc. (China), DeLaval (Sweden), Daifuku Co., Ltd. (Japan), DJI (China), KONGSBERG (Norway), Northrop Grumman (US), Neato Robotics, Inc. (US), KUKA AG (Germany), LG Electronics (South Korea), Lely (Netherlands), 3DR, Inc. (US), Stryker (US), and Harvest CROO Robotics LLC (US), among others in the service robotics market strategies. The report also helps stakeholders understand the pulse of the automotive airbags & seatbelts market and provides them with information on key market drivers, restraints, challenges, and opportunities.