The application of service robotics is inevitable globally in the coming years as the technology progresses and many industries try to find new solutions to tackle existing problems. Market players operating in the service robotics market are adopting various strategies such as partnerships, new product launches, and raising investments to develop new solutions and raise their market shares. Various sectors such as healthcare, medical, hospitality, wind & energy, and others are deploying service robots to improve efficiency, assist human workers, and save costs.
The application scope of service robotics is expected to increase in the coming years. More and more service robots will be tested and deployed in the next few years to improve operational efficiency. This factor will also raise the market size consequently. According to the report published by Next Move Strategy Consulting, the
global service robotics market is expected to reach USD 192.29 billion by 2030. With the rise in implementation of service robots, following are some of the trends that are taking place in the market:
New service robot launch to solve staffing problems
As the service robotics industry continuous to tackle various problems related to the healthcare sector, staffing shortages is one of the major issues that needs attention. According to the World Health Organization, the shortage of healthcare workers across the globe is estimated to be nearly 18 million. Market players operating in the service robotics market are bringing new solutions to by automating the tasks using advanced technology and robotics. Disinfection is one of the tasks that can be automated using service robots.
OhmniLabs launched OhmniClean UV-C robot for providing automated disinfection. The robot utilizes advanced artificial intelligence (AI) technology for navigating the space in rooms and delivers a UV light to the surface for disinfection. The robot is developed for hospitals and medical organizations that are suffering from the staffing crunch issue. As this robot carries out the disinfection task autonomously, the medical staff can focus on other major responsibilities and invest their time to take care of patients. Furthermore, the service robots can effectively provide a safe and clean environment for patients as well as the hospital staff. This, in turn, improves the overall safety of the medical organization. The development of service robots for solving various problems in the healthcare sector will continue in the coming years.
The launch of new service robots continues as manufacturers look forward to address various challenges in different industries. AT&T launches robotic dogs by partnering with Ghost Robotics. This launch is a part of its FirstNet emergency responder service. The company plans to launch these robotic dogs to ensure safety of human personnel in dangerous situations. These robots can be used by public safety, federal defense, and state agencies. Moreover, local police and fire departments can also utilize them in emergency operations.
AT&T stated that there will be many internet of things (IoT) use cases in which robotic dogs will be deployed. These use cases include facility surveillance, disaster response and recovery, and security operations. They can carry out search and rescue operations in areas that can be deemed as dangerous for humans. Furthermore, they can detect chemical lakes, explosives, and radiation. They can also be trained to inspect high voltage equipment and mines. The company developed these robotic dogs in such a way that they can launch and land drones from their backs. They also contain wireless cameras that can be used for patrol and surveillance operations in the military sector. The development of such robots can save a lot of humans in the future.
The launch of new robots continues in the service robots industry as manufacturers eye for increasing their stakes. SK Telecom launched a coffee-making robot powered by artificial intelligence (AI). The robot, known as AI Barista Robot, has been developed by partnering with Doosan Robotics. SK combined its AI, big data, and technological expertise with Doosan's robot manufacturing and service expertise. This robot can prepare nearly 20 different coffee drinks along with enabling customers customize their coffee. Furthermore, it can also close the lids before serving.
The company developed this robot for optimizing operational efficiency of coffee stores. The robot also carries out an extensive analysis of sales status based on raw material consumption, menu, and equipment used. It also sends notifications about the current status to store owners through mobile applications. It also has a built-in surveillance camera to ensure security of unmanned stores. It can manage and operate the store around the clock with higher efficiency and more ease than human workers. The company plans to become a leader in the coffee robot market and solve the challenges regarding staff shortages in coffee stores. The launch of new robots is expected to improve the experience of customers and help store owners earn more profitability than before.
New investments for expansion and new offerings
Market players are raising funding for the development of service robots in different industries. Investors are also willing to invest their money in the revolutionizing the technology that would solve the problem faced by different industries. Along with solving the problems, the market players also plan for an expansion across the globe. Aerones secured a funding of USD 30 million in a funding round led by Lightrock and Haniel. Moreover, Blume Equity also participated in the funding round along with existing investors.
Aerones specializes in wind turbine maintenance and inspection through service robots. It aims to utilize the funding for the global expansion and serving the growing demand for maintenance and inspection tasks for wind turbines. The service robots developed by Aerones can carry out the tasks nearly six times faster, around 40% more efficient, and with higher safety than the certified technicians. The funding will also be utilized for expanding the technical and sales functionalities, surging number of employed service robots, and expanding the presence in the Australian and African markets. The company also aims to invest funding in developing advanced technology and increasing its offerings.
Such robots give a boost to market players in enhancing their presence, achieve growth, and raise their market stakes in the industrial robotics market as well. According to the report published by Next Move Strategy Consulting, the
global industrial robotics market is expected to reach USD 88.55 billion by 2030. These robots have a scope for applications in inspection and maintenance of industrial equipment and machinery as well.
Along with the wind & energy and other industrial sectors, investors are looking forward to invest their money in other sectors such as hospitality. The dry-cleaning robotic kiosks are gaining popularity from different industries such as hospitality, filmmaking, and others. Presso, one of the leading firms in manufacturing of service robotic kiosks for dry cleaning, raised of the funding of USD 8 million. The investors were Uncork Capital, Pathbreaker Ventures, YETI Capital, 1517 Fund, and others.
Presso aims to utilize the new funding in growing the team and scaling up its product offering. Currently, the company is focused on building and distributing its dry cleaning robotic kiosks. In the future, it will develop its eco-friendly liquid that uses industrial solvents, and can be used for dry-cleaning purposes. The investments will give rise to greener products as well as surge the market stake across the globe.
The trend of raising investments continue in the service robotics industry to expand product offerings and raise market reach. Bear Robotics raised a funding of USD 81 million. The investors where KT Corp, IMM, and Cleveland Avenue. With this new funding, the total raised capital of the company amounts to USD 117 million. BR Robotics develops its robots to address the labor shortage challenge in restaurants and hotels. It will use the recently raised funding for development of new products and expand its market reach. Moreover, it will hire more employees to help in development.
The company partnered with giant corporations such as Google, Marriott, Pepsi, and others. It delivered nearly 5,000 food service robots in senior care facilities, casinos, and restaurants. It will also launch to new service robots using the funding. One of the robots will analyze the air quality while moving and another robot will deliver packages from lobby to upper floors through elevators.
The efforts to tackle challenges of staff shortages in the hospitality sector continues with more service robot manufacturers deploying their robots. Pudu Robotics joined hands with a few major hospitality brands including Hilton and Marriott for deploying their robots. The company also deployed its robotics solutions in more than 600 cities across 60 countries.
The company also decided to focus on research and development of its technology and robotic parts to expand its international presence and market share. In the post-Covid era, the hospitality sector is adopting various advanced technologies to address challenges related to staffing and contactless delivery. The deployment of food service robots will is the recruitment pressure off the shoulders of hospitality brands. Moreover, these robots will serve their customers in an efficient manner.
Partnerships for production of service robots
Among many strategies used by the market players to raise their stakes in the service robotics industry, partnerships to manufacturer new robots is one of them. The partnership strategy helps market players in utilizing each other’s expertise and maximizing the speed of production. Abhiman Engineering joined hands with Xtend Robotics for producing service robots that can be utilized for medical assistance and other applications. They joined hands for production of 8,000 service robots in the next two years. The production is expected to start in 2023 only. The total cost of production is expected to be approximately KRW 100 billion.
As per the partnership agreement, Abhiman will focus on development of hardware, Xtend will focus on software development and robot design. Both companies plan to produce nearly 3000 units in 2023 and 5000 units in 2024. The companies plan to utilize these robots for providing medical assistance to the North American market. These robots are expected to provide assistance in various medical services such as nursing, remote medical care, and others. Such partnerships aim to utilize the potential of service robots for solving the existing problems in the medical sector.
The trend of partnerships continues for trialing service robots. Market players are partnering with airports for carrying out trials of new service robotics solutions for improving the overall customer experience. Belfast International Airport partnered with SSP UK for conducting a trial of service robots at a restaurant. The test will be carried out to determine the effectiveness of service robots in helping staff with their daily tasks. The objective behind deploying and trialing these robots is to free up the time of human personnel in delivering customer service, answering customer needs, and providing remarkable experience.
Two types of robots will be deployed at a restaurant inside the airport. Tthe first type of service robot is known as BellaBot, which will bring drinks and food from kitchen. It also contains a voice and screen system that can be used for greeting customers. On the other hand, HolaBot will collect cutlery and plates after customers leave their tables. The trial will enable customers experience the advanced technology that the hospitality sector can offer.
These robots are expected to provide rapid service and improve cleaning. This will enhance a dining experience and improve efficiency. Investments in new technologies to improve customer experience is one of the major objectives behind the deployment of food service robots. When the number of customers increase in a restaurant, there are challenges in serving them in a rapid manner. These robots will provide assistance to the restaurant staff and provide a unique and original experience.
The demand for service robots will continue to increase as the need to tackle issues arising in daily operations in various sectors increases. Market players will find new ways to incorporate robotics in daily operations of many industries. Moreover, they will find new solutions with the help of advanced technology and robotics. In the next few years, there will be plethora of service robots in place for tasks that were performed by humans.
