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Service Robotics Worth $21 Billion By 2014

According to a new market study report published by MarketsandMarkets, a global market research and consulting organization, the total worldwide service robotics market is anticipated to be worth $21 billion by 2014, out of which the Asia market will account for nearly 35% from the total revenues. The worldwide market is anticipated to record a CAGR of 49.6% from 2009 to 2014.

Increasing ageing population concerns are driving the require for domestic and personal support robots. Efficient and advanced robots with lower power consumption are the need of the hour.

In individual service robotics marketplace, domestic robotics marketplace is the largest segment; and is expected to reach $1.97 billion by 2014 at a CAGR of 52%. The high market size of domestic robots is mainly due to demand of robots for assistance in household tasks and act as companion. The entertainment marketplace is estimated to become $1.85 billion in 2014. Defense, security and surveillance robots cover the large segment of the professional support robotics marketplace. Nevertheless, they're anticipated to become taken over by field robots by 2014.

Ageing population and continuous study has made Asia the dominant player in the service robotics marketplace. In 2009, the marketplace share is estimated to be 52% with a size of $3.7 billion. Europe is expected to have the second-highest marketplace for support robots. Nevertheless, large consumer base of domestic robots in the U.S. and Europe makes them the most attractive market for vacuum cleaners and other domestic items.

The Advanced material at MarketsandMarkets is pleased to announce its Analyst Briefing Presentation on the Worldwide Service Robotics marketplace to be held on June 8th.

Register @ http://www.marketsandmarkets.com

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