Market Insight

Service Robots - A Greenfield Opportunity for Electric Motor Manufacturers

July 19, 2018

Joanne Goh Joanne Goh Analyst, Electric Motor Systems & Capital Equipment

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Robotics and automation technologies have been available in the industrial sector for decades and are now integrating into the daily lives of consumers. The global market for professional and domestic service robots has driven the surge in the electric motor market and will continue to in the future. The latest topline report by IHS Markit, “Electric Motors in Service Robots”, shows that the global electric motor market was worth $438 million in 2017, with 36 million units shipped. Market revenues are forecast to grow at an 18.6% compound annual growth rate (CAGR) from 2017 to 2022, when they will total approximately $1.0 billion. 

Professional service robots – Artificial intelligence and augmented reality

Electric motors in professional service robots was is a niche market, accounting for 7% of global electric motor market revenues for service robot applications. It was traditionally a niche market because the professional service robots were designed and applied to a limited number of industries and applications such as military, defense and space due to the limitation of traditional machine capabilities.

Currently, professional service robots are starting to be more commercialized and experience greater adoption, not only within the high-risk industrial sectors, but also in those more closely related to lifestyle and health such as education, hotels, restaurants, and medical and healthcare. The United States, Japan and Europe are leading the electric motors market in professional service robot market globally, namely in the logistics, and medical and healthcare sectors.

The growth of emerging technologies like artificial intelligence and augmented reality is fueling the penetration of professional service robots globally. Coupled with the accelerated adoption of Industry 4.0 and the Internet of Things (IoT) concepts, the demand for electric motors in professional service robot is expected to grow substantially. IHS Markit forecasts the electric motor market in professional service robots to grow at a 31.3% CAGR over the forecast period as electric motors revenues more than quadruple from $28.8 million in 2017 to $125 million by 2022.

Domestic service robots – Smart home initiative and lower average selling prices

The use of robotic technology is not new to the domestic and household sector as applications such as robotic vacuums have been available for almost one decade. The technology of electric motors in domestic service robots is more mature and the market as a whole is larger compared that of professional service robots. In 2017, nearly 36 million motors are estimated to have been shipped for domestic service robotic applications, generating approximately $406 million in revenue (of which DC brushed motors accounted for 68%). Revenues for the electric motor market in domestic service robots are forecast to grow at a CAGR of 17.3% from 2017 through 2022, when they will reach $904 million.

Despite the more mature motor technologies and larger market size, market growth has been hindered by the slow penetration of robotic applications into the global consumer market. Increasing penetration of domestic service robots into the consumer market in recent years has mainly come from robotic vacuum cleaners, and social robots have spurred the demand for electric motors in this segment. Smart home initiatives, prolonged lifespans and increased affordability and functionality of domestic robots are the key drivers behind the growing penetration into the consumer market.

This social domestic robot is gaining a lot of attention and represents a greenfield opportunity for robotic and component manufacturers. IHS Markit expects the electric motor market for social domestic robots to be the fastest growing of the robot markets. The multiple functionalities of this robot are driving the penetration into the consumer market. These robots are able to communicate, entertain, educate, monitor, remind, and perform some household chores.

Electric Motors in Service Robots Topline Report

This topline report provides an up-to-date status on current global market conditions as well as forecasts through 2022. The market is segmented by motor type, region, and domestic and professional service robot type among other factors.

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Manufacturing Technology
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