Global service robotics market valued at US20.73B

The market is driven by factors like ageing population, value enhancement by robots, increasing grants and funds by governments, increasing venture capital investments in service robotics companies, enhancements in complementary technologies and integration of robotics with mobile technologies, other smart products, and appliances. In the coming ten years, service robotics evolution is expected to continue with its application in Unmanned Ground Vehicles (UGVs) or self-driving cars, Unmanned Aerial Vehicles (UAVs) or self-piloting airplanes, and autonomous wheelchairs, as well as C3PO-like anthropomorphic robots and less complex simple cleaning robots. The more sophisticated service robots applications include robot snipers, minding children, caring for the elderly, acting as tour guides, and giving people baths or doses of medicine. As with all the digital technologies, the prices of robots are expected to fall, while, at the same time, their capabilities are expected to grow rapidly.