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A rapid growth in the service industries and the pressing need to adapt to the changing demand of the consumers, market challenges and a rapid advancement in technology with a backdrop of cut throat competition are the factors responsible for the growth of the professional services robots market.
Robots have made their presence felt already in the realm of industrial automation where they are employed for carrying out repetitive tasks. However, with advancements in the fields of machine learning, artificial intelligence, cognitive science and adaptive computing are enabling the robots to assist humans in a variety of tasks. The development of technologically advanced robots that have an improved intelligence and can perform touch-sensitive tasks in a better manner and in addition also have the ability to interact with humans seamlessly will help their better adoption in fields such as healthcare.
According to Persistence Market Research, the global professional services robots market is slated to touch a value of about $7.4 billion by 2022 and grow at a robust CAGR during the assessment period.
- As per the forecast of Persistence Market Research, the professional cleaning segment is slated to touch a value of nearly $650 million in the year 2022. This represents a robust CAGR growth during the assessment period of 2017-2022. The professional cleaning segment is estimated to account for nearly one-tenth of the revenue share of the application segment by the year 2017 and is forecasted to lose market share by 2022 over 2017.
- As per the forecast of Persistence Market Research, the inspection & maintenance segment will reach a value of about $180 million in the year 2017. This represents a robust CAGR growth during the forecast period. The inspection & maintenance segment is forecasted to account for a miniscule share of the total revenue share of the application segment by the end of the year 2017 and is expected to lose in market share by 2022 as compared with the year 2017.
- As per the forecast of Persistence Market Research, the water-based segment is slated to reach a value of nearly $1.8 billion in 2022. The water-based segment is expected to gain market share by the end of the year 2022. The largest share is contributed by the North America region in the water based segment.
- Persistence Market Research forecasts the U.S. professional services robots market to exhibit a compound annual growth rate (CAGR) of more than 20% from 2017 to 2022.