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ABU DHABI, United Arab Emirates, May 1, 2021 /PRNewswire-PRWeb/ -- We are in a world where machine technology and artificial intelligence have taken their rightful place today. The global service robotics market is expected to reach $23.90 Billion by 2022, at a CAGR of 15.18% between 2016 and 2022. The market is expected to grow substantially owing to factors such as high demand from the medical and healthcare sector, increase usage of robots for education & research purposes and short- to medium-term payback period, and high return on investment (ROI). Demand for service robots in various sectors such as defense, healthcare, and agriculture are driving service robot growth, along with high layouts, scarcity of skilled workers, and increasing awareness of service applications. However, post-COVID, the market scenario has changed significantly, and presently the projection will be achieved well before the anticipated time.