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Service Robotics Market to Grow by USD 90.41 Billion (2024-2028), Driven by Robotic Automation Demand, Report Highlights AI-Powered Market Evolution – Technavio

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NEW YORK, Dec. 5, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The global service robotics market size is estimated to grow by USD 90.41 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 30.25% during the forecast period. Growing demand for robotic automation processes is driving market growth, with a trend towards government support for robotics. However, high cost associated with robotic systems poses a challenge. Key market players include Electrolux group, AMP Robotics Corp., Blue Ocean Robotics, Cyberdyne Inc., Daifuku Co. Ltd., Diligent Robotics Inc., Exyn Technologies, Guangzhou XAG Co. Ltd., Harvest CROO Robotics LLC, Intuitive Surgical Inc., Irobot Corp., Kongsberg Gruppen ASA, Northrop Grumman Corp., Samsung Electronics Co. Ltd., Singapore Technologies Engineering Ltd., SoftBank Group Corp., Starship Technologies Inc., SZ DJI Technology Co. Ltd., Tetra Laval SA, and YUJIN ROBOT Co. Ltd..

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Service Robotics Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 30.25%

Market growth 2024-2028

USD 90412.8 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

22.79

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 40%

Key countries

US, China, Japan, Germany, and South Korea

Key companies profiled

Electrolux group, AMP Robotics Corp., Blue Ocean Robotics, Cyberdyne Inc., Daifuku Co. Ltd., Diligent Robotics Inc., Exyn Technologies, Guangzhou XAG Co. Ltd., Harvest CROO Robotics LLC, Intuitive Surgical Inc., Irobot Corp., Kongsberg Gruppen ASA, Northrop Grumman Corp., Samsung Electronics Co. Ltd., Singapore Technologies Engineering Ltd., SoftBank Group Corp., Starship Technologies Inc., SZ DJI Technology Co. Ltd., Tetra Laval SA, and YUJIN ROBOT Co. Ltd.

Market Driver

The service robotics market is experiencing significant growth, driven by trends like IoT, AI, and automation. In healthcare, robots help reduce Hospital-acquired infections (HAIs) through IoT-based devices and AI researchers develop AI for navigation and motion planning. Regulations are being set for delivery robots, such as Nuro, in uncontrolled environments. In industries like construction and agriculture, professional robots, including drones for aerial photogrammetry and surveying, are in high demand due to labor shortages and government funding. For domestic use, autonomous delivery robots navigate stairs and user interfaces ensure accurate results. In critical operations, humanoid robots and exoskeletons are essential. The aging population and immigration laws fuel the demand for service robots in various sectors. Space exploration and filmmaking also utilize professional UAVs and AI for 3D data collection. 

Advanced robotic technologies, such as 5G and artificial intelligence, are backed by various governments worldwide, including Europe, North America, Asia, MEA, and South America. Notable examples include China’s Robot Industry Development Plan, aiming to create multiple internationally competitive robot manufacturers and industrial clusters, with a focus on high-end robots and increasing robot density to 100 robots per 10,000 workers. Germany’s High-Tech Strategy supports the adoption of new digital technologies in the industry. These countries have unique strategic goals for their robotics sectors. 

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Market Challenges

The service robotics market is experiencing significant growth due to increasing demands in various industries. IoT technology plays a crucial role in enhancing robot functionality and connectivity. However, challenges such as hospital-acquired infections (HAIs) and regulations require advanced AI researchers to develop solutions. User interfaces and navigation systems are essential for robots to operate effectively in uncontrolled environments. Drones, like those from Whizpace and Nuro, offer autonomous delivery solutions for food demand in a global population that continues to grow. Regulations, such as those from the Department of Transportation, impact the deployment of delivery robots. Inaccurate results and critical operations necessitate advanced motion planning and natural language processing. Robots are used in construction, agriculture, inspection, and humanoid applications, with professional UAVs providing aerial photogrammetry for surveying and mapping, photography, and filmmaking. Government funding from organizations like the European Space Agency supports the development of professional robots for space exploration. The aging population and labor shortage create opportunities for domestic and industrial robots, while automation and IoT-based devices continue to transform transportation & logistics.The service robotics market relies heavily on advanced software and sensors for image processing and decision-making capabilities. This technology increases the manufacturing cost for vendors. Consumers in emerging economies, such as India, are hesitant to purchase expensive service robots. This reluctance poses a significant challenge to the market acceptance of these robots. Despite this, vendors continue to invest in research and development to integrate advanced technologies. As a result, new and advanced models of service robots are expected to enter the market, further increasing the cost of these robots. This price hike may hinder the adoption of service robots among middle-class consumers in countries like India, Africa, and other developing economies.

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Segment Overview

This service robotics market report extensively covers market segmentation by

Application1.1 Professional robots1.2 Personal robotsEnvironment2.1 Ground2.2 Aerial2.3 MarineGeography3.1 APAC3.2 Europe3.3 North America3.4 Middle East and Africa3.5 South America

1.1 Professional robots- Professional robots, defined as semi or fully autonomous machines designed for commercial tasks outside manufacturing, are undergoing a transformative period. Technological advancements in machine learning, artificial intelligence, adaptive computing, and vision systems significantly enhance robot capabilities. The Robots-as-a-Service (RaaS) ownership model broadens professional robot adoption. Furthermore, the integration of 5G telecom services and advanced AI processors fuels market growth, driving demand for these advanced machines over the forecast period.

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Research Analysis

The service robotics market is experiencing significant growth, driven by the integration of IoT technology and AI in various industries. In healthcare, robots are being used to reduce Hospital-acquired infections (HAIs), while in construction, drones equipped with aerial photogrammetry and 3D data analysis are revolutionizing infrastructure inspections. AI researchers are developing advanced user interfaces for professional robots, enabling them to perform complex tasks with greater accuracy. Regulations are being put in place to ensure the safe operation of drones in critical operations, with the Department of Transportation leading the way. Wi-Fi and Super Wi-Fi technologies are enabling remote control and data transfer for professional UAVs and agricultural robots. However, challenges such as inaccurate results and the need for government funding continue to hinder market growth. The European Space Agency is also investing in the development of advanced robotic systems for space exploration and terrestrial applications. Overall, the service robotics market is poised for continued expansion as it addresses the food demand of a growing global population and the need for efficient, accurate, and safe automation in various industries.

Market Research Overview

The service robotics market is experiencing significant growth due to the integration of IoT technology and AI in various applications. In healthcare, robotics are being used to reduce Hospital-acquired infections (HAIs) and assist in critical operations. AI researchers are developing advanced user interfaces for service robots, enabling seamless interaction between humans and machines. Drones, equipped with Wi-Fi and Super Wi-Fi, are being used for aerial photogrammetry, surveying and mapping, filmmaking, and inspection in uncontrolled environments. Delivery robots, such as Nuro, are revolutionizing transportation & logistics with autonomous navigation and motion planning. The market is also witnessing the emergence of agricultural, inspection, humanoid, exoskeleton, construction, and domestic robots. Government funding from organizations like the European Space Agency is driving innovation in professional robots and space exploration. The global population growth, food demand, labor shortage, aging population, immigration laws, and free trade agreements are further fueling the demand for service robots in various industries, including automation and industrial applications. IoT-based devices and inaccurate results are some of the challenges facing the market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationProfessional RobotsPersonal RobotsEnvironmentGroundAerialMarineGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Sidus Space Announces Closing of Offering

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CAPE CANAVERAL, Fla., April 21, 2026 /PRNewswire/ — Sidus Space, Inc. (Nasdaq: SIDU) (“Sidus” or the “Company”), an innovative space and defense technology company, today announced the closing of its previously announced best-efforts offering of 13,453,700 shares of its Class A common stock (or pre-funded warrants (“Pre-funded Warrants”) in lieu thereof). Each share of Class A common stock (or Pre-funded Warrant) was sold at an offering price of $4.35 per share (inclusive of the Pre-funded Warrant exercise price) for gross proceeds of approximately $58.5 million, before deducting the placement agent’s fees and offering expenses. All of the shares of Class A common stock and Pre-funded Warrants were offered by the Company.

The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.

ThinkEquity acted as sole placement agent for the offering.

The securities were offered and sold pursuant to a shelf registration statement on Form S-3 (File No. 333-292839), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) on January 20, 2026, and declared effective on February 4, 2026. The offering was made by means of a written prospectus. A final prospectus supplement and accompanying prospectus related to the offering have been filed with the SEC and made available on the SEC’s website. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained, when available, from the offices of ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Sidus Space

Sidus Space (NASDAQ: SIDU) is an innovative space and defense technology company offering flexible, cost-effective solutions, including satellite manufacturing and technology integration, AI-driven space-based data solutions, mission planning and management operations, AI/ML products and services, and space and defense hardware manufacturing. With its mission of Space Access Reimagined®, Sidus Space is committed to rapid innovation, adaptable and cost-effective solutions, and the optimization of space systems and data collection performance. With demonstrated space heritage, including manufacturing and operating its own satellite and sensor system, LizzieSat®, Sidus Space serves government, defense, intelligence, and commercial companies around the globe. Strategically headquartered on Florida’s Space Coast, Sidus Space operates a 35,000-square-foot space manufacturing, assembly, integration, and testing facility and provides easy access to nearby launch facilities. For more information, visit: sidusspace.com.

Forward-Looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute ‘forward-looking statements’ within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words ‘anticipate,’ ‘believe,’ ‘continue,’ ‘could,’ ‘estimate,’ ‘expect,’ ‘intend,’ ‘may,’ ‘plan,’ ‘potential,’ ‘predict,’ ‘project,’ ‘should,’ ‘target,’ ‘will,’ ‘would’ and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors described more fully in the section entitled ‘Risk Factors’ in Sidus Space’s prospectus supplement and Annual Report on Form 10-K for the year ended December 31, 2025, and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Sidus Space, Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Contacts

Investor Relations
Investor-Relations@sidusspace.com

Media
press@sidusspace.com

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Ezee Fiber Connects First Customers in Santa Fe, Accelerates New Mexico Expansion

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HOUSTON, April 21, 2026 /PRNewswire/ — Ezee Fiber, a fast-growing fiber internet company delivering 100% fiber-to-the-home (FTTH) service, announced it has connected its first customers in Santa Fe, New Mexico. This milestone marks the company’s first major step in building its Santa Fe network and expanding multi-gigabit, symmetrical fiber service across the state.

Installations are now underway, giving residents access to Ezee Fiber’s high-performance network, which features symmetrical multi-gig speeds, no data caps, no hidden fees and transparent lifetime pricing. The company also emphasizes locally staffed customer support and a reliable, high-quality experience that sets it apart from legacy providers.

“We’re excited to bring our modern, 100% fiber network to homes the state capital,” said Carlos Rosas, Senior Vice President and General Manager, Southwest Region at Ezee Fiber. “Communities deserve more than basic connectivity. We are focused on delivering ultra-fast speeds, reliability and long-term infrastructure that supports how people live and work today.”

Ezee Fiber began expanding in New Mexico in 2024 and continues to scale rapidly. In addition to Santa Fe, the company is building fiber infrastructure in Albuquerque and surrounding communities, with service activating on a rolling basis as construction is completed.

Residents can expect construction activity to move efficiently through neighborhoods. Ezee Fiber will provide advance notice before work begins and will restore all areas in line with municipal requirements and industry best practices.

Residents can check availability and learn more at ezeefiber.com.

About Ezee Fiber

Ezee Fiber is a rapidly growing fiber internet company delivering premium multi-gig service to residential, business, and government customers over a 100% fiber-optic network—at exceptional value.

The company’s carrier-grade infrastructure spans Texas, New Mexico, Illinois, Oregon, Michigan and Washington, supported by local teams who live and work in the communities they serve. Ezee Fiber’s industry-leading speeds, award-winning customer service, and transparent pricing model set the company apart. Learn more at www.ezeefiber.com.

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SOURCE Ezee Fiber

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CFA Institute calls for functional, proportionate AI oversight to safeguard UK retail investors and market integrity

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LONDON, April 21, 2026 /PRNewswire/ — CFA Institute, the global association of investment professionals, has published its response to the Financial Conduct Authority’s (FCA) Review into the long-term impact of artificial intelligence on retail financial services (the “Mills Review”). CFA Institute welcomes the FCA’s technology-neutral approach, while urging greater operational clarity to ensure responsible AI deployment.

In its submission, CFA Institute supports anchoring AI oversight within the UK’s existing principles-based framework, including the Consumer Duty and the Senior Managers and Certification Regime (SM&CR), rather than introducing a standalone AI rulebook. However, it emphasizes that supervisory expectations must be clearer and more practical as AI systems move from assistive tools to advisory functions and, ultimately, autonomous agents.

CFA Institute argues that regulation should follow what AI systems do for consumers, not how they are labelled or constructed. AI-enabled retail interfaces may generate “advice-like” outcomes, such as personalized product steering or portfolio construction guidance, without formally crossing regulatory thresholds. A substance-over-form approach is therefore essential to prevent regulatory arbitrage and ensure consistent consumer protection.

While the Consumer Duty provides a robust foundation, CFA Institute calls for AI-specific articulation of how its four outcomes apply where decision-making is increasingly delegated to automated systems. In particular, the response highlights a risk of automation bias, which may reduce effective consumer outcomes, especially among vulnerable customers.

Firms should be expected to test, monitor and evidence outcomes based on how consumers actually use AI systems in practice, not solely on how they are intended to function.

The submission also identifies a potential governance gap where firms report formal accountability for AI systems yet lack deep operational understanding of complex or third-party models. CFA Institute recommends clearer expectations around what “reasonable steps” and “meaningful oversight” mean under SM&CR and SYSC when AI is deployed in material retail use cases.

It further calls for:

A proportionate, tiered governance framework aligned to the assistive–advisory–autonomous spectrumClear allocation of end-to-end accountability for consumer outcomesReinforced oversight of third-party AI dependencies and operational resilience risks.

Although retail-focused, the response underscores broader market structure implications, including model concentration, correlated behavior, and third-party dependencies that could amplify volatility in stressed conditions. CFA Institute encourages close coordination between the FCA and the Bank of England, as well as continued alignment with IOSCO and the Financial Stability Board, to reduce fragmentation and support the UK’s global competitiveness.

Finally, CFA Institute stresses that responsible AI adoption depends on developing “hybrid” talent, professionals who combine technological fluency with fiduciary judgement and market expertise. Strengthening professional standards and supervisory capability should form part of the UK’s long-term AI competitiveness strategy.

Olivier Fines, CFA, Head of Advocacy and Capital Markets Policy at CFA Institute, said: “Artificial intelligence has the potential to expand access, improve efficiency and strengthen retail financial services, but only if trust and accountability remain firmly at the center.

“The UK’s principles-based framework is advantageous. The priority now is operational clarity: clear guidance on how the Consumer Duty and SM&CR apply when decision-making is increasingly delegated to AI systems.

“Regulation should follow function, not technological form. Where AI systems effectively shape or execute consumer decisions, protections must apply in substance, not just in label.

“We encourage the FCA to provide practical supervisory guidance by the end of 2026 and to continue close dialogue with industry and international standard-setters. With proportionate safeguards, meaningful oversight and investment in hybrid professional skills, the UK can play a leading role in responsible AI-enabled finance while preserving market integrity and public trust.”

About CFA Institute

As the global association of investment professionals, CFA Institute sets the standards for professional excellence and credentials. We champion ethical behavior in investment markets and serve as the leading source of learning and research for the investment industry. We believe in fostering an environment where investors’ interests come first, markets function at their best, and economies grow. With more than 200,000 charterholders worldwide across more than 160 markets, CFA Institute has 9 offices and 157 local societies. Find us at https://www.cfainstitute.org/ or follow us on LinkedIn, and subscribe on YouTube.

 

 

 

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