Shashie Pawar

3 months ago · 1 min. reading time · visibility 0 ·

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Service Robotics Market May Set New Growth Story: Major Giants 2022

In this rapidly changing environment, companies are expanding their scale of operations by increasing investments in R&D and innovation. In service robotics innovation is very beneficial. Service robotics has become worldwide. Robotics has established a trend in market. Internet of things (IoT) is also considered as a major component with respect to service robotics therefore industries adopting Internet of Things has increased the demand for service robotics. The study indicates that technological advancements, high demands for automation and increasing human safety concerns are the major driving factors of service robotic market. Service robotics have many benefits which overcome the challenges such as lack of skilled workforce, high labor costs and others. The study indicates a major restrain for the service robotics market as the high costs of service robots. But the study also reveals that robot manufacturers are taking efforts to lower the costs of these service robots.

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