Service Robotics: How Multiple Industries Are Streamlining Their Operations with This Innovation

Highlights

• Introduction
• Potential of Robotics as a Service
• Advent of humanoid robots
• Growth of the Asia-Pacific service robotics industry
• Recent developments in the industry

Service robots are revolutionizing consumer experiences and enhancing productivity across industries by offering indoor food delivery, automated valet parking, and wayfinding directions, making life easier for consumers and businesses. They significantly improve productivity across all assigned tasks by continuous operations. In the past, service robotics were adopted primarily in the automotive and manufacturing sectors.

However, industries such as aerospace, healthcare, defense & security, electronics, and entertainment have now integrated robotics technology to boost productivity and streamline operations. There's also a growing demand for service robots in agriculture, farming, green plantation, and dairy production, presenting opportunities for developing innovative products with robotic assistance.

 

Streamlining automation for small and medium enterprises with RaaS

Robotics as a Service is an emerging model that enables businesses to utilize service robots without the significant upfront investment of purchasing the equipment. This model reduces the barriers to adopting robotic automation, benefiting small and medium-sized enterprises. It enables businesses to flexibly scale their robotic automation up or down according to changing market conditions and business needs. Robots can be added or removed without significant capital expenditures, offering agility and cost-efficiency in operations.

Designing and constructing robots from scratch is expensive and requires significant time, investment, and ongoing maintenance. Due to these challenges, many companies opt for the RaaS model to integrate robots into their operations. Under this model, companies acquire a license to use a service robot without owning the physical unit or its underlying technology. They also pay a subscription fee for ongoing access to RaaS services. This approach reduces upfront costs and simplifies scalability and maintenance.

A new era of humanoid robots

Humanoid robots are designed to resemble humans both in form and function. Their human-like appearance and capabilities make them particularly effective in communication, especially with children. These robots can engage in conversations, recognize emotions, and respond appropriately. Humanoid robots communicate naturally and empathetically with built-in AI, facial recognition, and natural language processing.  They are being developed for service roles such as receptionists, bartenders, and household assistants, with a focus on making them more approachable and interactive. Advances in control systems, sensors, and AI algorithms are enabling humanoid robots to mimic human movements and interact with their surroundings more naturally.

By assuming repetitive, hazardous, or physically demanding tasks, humanoid robots enhance the efficiency and productivity of hospitals. This allows healthcare workers to concentrate on high-value, patient-facing activities. As a result, hospitals achieve faster patient turnover, fewer complications, and ultimately, improved outcomes for patients.

Understanding the landscape of the Asia-Pacific service robotics industry

The APAC’s robust economic growth and emphasis on industrial automation are fueling the adoption of service robots. This adoption is especially noticeable in countries such as China, Japan, and India, a key center for manufacturing and automation. Moreover, governments in the Asia-Pacific region are offering substantial financial and regulatory support to incorporate these technologies across various sectors. 

Among the emerging economies of Asia-Pacific, India is projected to showcase a notable CAGR of 29.6% in the service robotics industry during the forecast period. The manufacturing industry in India, including automotive, semiconductor, and others, is extensively adopting service robots for tasks such as welding, assembly, painting, part replacement, testing, and quality control.

LG and KT partnered to introduce advanced service robots

In August 2022, KT Corp., South Korea's prominent telecommunications company, collaborated with LG Electronics Inc. to co-develop and launch next-generation customer service robots. The partnership includes an MOU focused on advancing robots for industrial settings and customer service applications. They also agreed to explore new business opportunities both in Korea and internationally and collaborate on government-led robotics initiatives. 

KT again introduced two new AI service robots in May 2023 with enhanced features, focusing on improved driving stability and weight detection abilities. The robots were developed through a collaboration with Bear Robotics and LG Electronics Inc., and they seamlessly integrate with tablets, kiosks, and in-store calling systems to facilitate customer order processing.

To conclude, service robotics are revolutionizing industries from healthcare to agriculture, enhancing productivity and consumer experiences. Robotics as a Service and Humanoid robots, with advanced AI, are transforming customer service and healthcare roles. Moreover, a surge in demand for service robots from developing regions is expected to offer remunerative opportunities for the growth of the industry in the upcoming years. 

Contact our experts todayfor an in-depth analysis of the competitive landscape and investment opportunities in the service robotics industry!

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