The introduction of robots to our daily lives is becoming closer to reality, with a Global Market Insights report forecasting the service robotics market size to grow over 17.8% from 2016 to 2022, reaching USD 21.7 billion. A number of factors are attributed to this, such as an aging population, increasing investment and integration with other technologies. The growing need for automation across a range of industries has pushed organizations to utilize service robotics for higher productivity, precise operations and reduced operating costs.
The report states that professional service robotics market share was more than 70% of the global revenue in 2014; these products include those in agriculture, assisted surgery and in the UAV market for military applications. To provide an example, market demand for robot assisted surgery is growing, with Cambridge Medical Robotics recently raising USD 20 million. Keyhole surgery is not available widely, as the techniques are hard to master and the procedure is physically demanding to perform. Making life easier for the surgeon, these robots also offer the benefits of manual minimal access surgery.
However, the challenge remains to convince industry that robotic technology in general, is sufficiently robust to move from lab to field and secure the investment to go beyond prototypes. After all, many of the technologies behind the advancement of robotics are now mature.
The Global Market Insights report is available here: http://bit.ly/2b9fkUR