DUBLIN, November 08, 2016 /PRNewswire/ -- Research and Markets has announced the addition of the "Global and China Service Robot Industry Report, 2016-2020" report to their offering.
In 2015, the global market size of service robots reported USD8.49 billion, surging by 42.2% on a year-on-year basis, and it is expected during 2016-2020 to show an annual average growth rate of 16.5%, which will be mainly driven by: Compared with industrial robot, the global service robot market is still at an early stage in industrialization, which is dominated by the players from Japan, Germany, the United States, etc. As the most potential market of service robots around the globe, China's market scale reached RMB8.2 billion in 2015, and will be over RMB30 billion by 2020 with the help of markets like artificial intelligence (AI) and the Internet. According to the type of service, service robots can be divided into personal/household service robot and professional service robot. In 2015, professional service robots contributed to 63.1% of sales, while personal/household service robots 36.9%. Nevertheless, due to the merits of small body and low cost, personal/household service robots represented by cleaning robot are easy to be mass-produced, which therefore are anticipated to achieve explosive growth in the future and sweep an estimated market share of nearly 50% till 2020. For that reason, numerous companies such as Irobot, Ecovacs, Fmart, Xiaoi Robot, and Minleo have set foot in the field of cleaning robots. Key Topics Covered: 1 Introduction to Service Robot 2 Development of Global Service Robot Industry