Robot rental Market Projected to Reach over USD 102.8 Billion by the End Of 2025
- by KD Market Insights
- Sep, 2021
The global robot rental market was capitalized for USD 38.2 Billion in 2019 and is estimated to reach USD 102.8 Billion by the end of 2025, developing at a compound annual growth rate (CAGR) of over 8% during the forecast period 2019–2025. The Rental Robot is an automated material logistics system for safety equipment that may be rented. The issue-and-return station provides each registered user with the appropriate work equipment as well as any required consumables immediately on site, at any time of day, without the requirement for people to stand by and man the station.
Some of the key players in the robotics rental market are SMP Robotics, Mahajan Automation, Reliable Robotics LLC and Robot Rentals. Leading robot manufacturer includes 3DR, AMP Robotics, CYBERDYNE, Diligent, DJI, ECA Group Exyn Technologies, General Electric, HARVEST CROO , Kongsberg Maritime, KUKA, Lely ,Neato Robotics, Northrop Grumman, PARROT SA, Starship Technologies, S tryker Corporation, UVD Robots , XAG.
Increase in incidences of respiratory diseases to boost the global robot rental Market
The market for rental robotics is being driven by the increasing acceptance of robots for novel applications that provide significant returns on investment, as well as increased financing for robot research. Furthermore, in the aftermath of the COVID-19 epidemic, there is a growing need to eliminate hospital-acquired infections on a regular basis, which has increased the demand for robots for disinfection and sanitation. The COVID-19 pandemic, a lethal respiratory disease, has now spread over the world. The COVID-19 epidemic has had a significant impact on the service robotics market's value chain. The United States, China, and Japan, which have all been hit hard by the pandemic, are anticipated to dominate the service robotics market.
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The global robot rental market is bifurcated on the basis of the component, type, application and regional analysis. Based on the component, the market segmented into hardware, and software. Based on the type, market is divided into Professional, Personal and Domestic. By application, market is segmented into Domestic, Medical, Field, Defense, Rescue, and Security, Entertainment, Education, and Personal, Public Relation, and Others.
The Asia Pacific Region Expected to Witness fastest Growth in the Global Robot rental Market
Based on geographical analysis, the global robot rental market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The growth of the robot rental market across Asia Pacific is due to the presence of countries like Japan, China, and Korea, who were the fourth, fifth, and sixth largest manufacturers of service robots in 2017, according to IFR. Furthermore, the surge inhealthcare expenditure and new technological advancements will propel the growth of the industry in the region. Rising per capita income as well as growth in the middle-class population is expected to drive the growth of the market.
“Robot rental Market - By Component (Hardware, and Software), By Type (Professional, Personal and Domestic), By Application (Domestic, Medical Field, Defense, Rescue, and Security, Entertainment, Education, and Personal, Public Relation Others),and By Region - Global Comprehensive Analysis, Forecast (2019-2025) , Industry Perspective.
The global robot rental market is segmented as follows:
- Power Supply
- Control Systems
- Navigation Systems
- Propulsion Systems
- Personal and Domestic
- Defense, Rescue, and Security
- Entertainment, Education, and Personal
- Public Relation
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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