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Leasing Options Will Make Service Robots a Reality for SMEs: TechNavio

London, United Kingdom, October 03, 2014 –(– TechNavio, a global tech-focused research firm has announced the publication of its market research report on the Global Service Robot Market 2014-2018.

A service robot is an intelligent machine that performs a variety of tasks that might be simple or complex, time-consuming or repetitive. These robots are classified into two broad divisions: Professional robots and personal/domestic robots. The Global Service Robot market is expected to grow at a CAGR of 16.50 percent during the forecast period.

About the Report

The latest report by TechNavio focuses on the increased demand for professional robots for medical applications. The acceptance of service robots for surgical applications has improved their usage, particularly in minimally invasive surgeries, as they reduce scarring and allow remote access.

Additionally, the report highlights the availability of service robots on lease, as the higher cost of these robots hinder their adoption by small and medium-sized enterprises.

“Some vendors have started offering service robots on lease, which allows cost-driven organizations to obtain the latest technology service robots at minimal cost, thus improving their productivity. Therefore, the availability of service robots on lease will encourage customers to use a wide range of professional service robots,” says Faisal Ghaus, Vice President of TechNavio.

Key Information Covered in the Report:

Market segmentation, size and forecast through 2018

Market Growth Drivers:
-Increased Demand for Service Robots for Medical Applications
-For a full detailed list, view the report.

Market Challenges:
-Lack of Effective Product Differentiation
-For a full detailed list, view the report.

Market Trends:
-Availability of Service Robots on Lease
-For a full detailed list, view the report.

Key Vendors:
-GeckoSystem Intl. Corp.
-Honda Motor Co. Ltd.
-iRobot Corp.
-Toyota Motor Corp.

Other Prominent Vendors:
-AB Electrolux
-Bluefin Robotics
-Deep Ocean Engineering
-ECA Hytec

If you are interested in more information, please contact our media team at [email protected]

About TechNavio

TechNavio is a leading global technology research and advisory company. Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.

TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

Contact Information:
Jes Ellacott
+44 207 291 0882
Contact via Email

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