Smart Robot Market is expected to grow from USD 4.54 Billion in 2017 to USD 29.46 Billion by 2026, at a CAGR of 23.1% between 2017 and 2026. (Detailed analysis of the market CAGR is provided in the report)
Smart Robot is an artificial intelligence system capable of carrying out a complex series of actions automatically and can learn from its environment, its experience, and build its capabilities based on that surrounding knowledge. Smart robots are used in a variety of applications such as industrial, professional and personal use. In addition, can be programmed to handle complex operations such as patient assisting, automotive assembly, microscopic nano robots.
Smart Robot Market
Increasing investments toward industrial automation, growing use of artificial intelligence in robot applications, growing adoption of autonomous robots for professional services, growing government aid for R&D of AI-enabled robots, emerging technological advancements in the field of robotics, and growth in adoption of robots in various sectors such as manufacturing industries, process industries, automotive industries, and healthcare. However, high initial investments, huge expenditure on research and development of robots are the major factors restraining the growth of the smart robot market.
Further key findings from the report:
- From service application segment professional service application held the largest share in 2016. And is also expected to grow at CAGR of 22.2 during the forecast period. Increasing demand in medical and marine applications is expected to drive this market
- Among the geographical regions, North America accounted for the largest revenue of smart robots market in 2016 owing to significant technological adaptions, and innovation. Since North America was among the first smart robots market it is expected to dominate the overall smart robot market during the forecast period
- APAC to hold the largest share of smart robot market by 2026, this growth can be attributed to factors such as the increase in the adoption rate of robots for almost all the major industrial and service applications. The increased elderly population in populous countries in APAC such as China, India, and Japan is expected to employ humanoids for personal assistance and caregiving applications
- Smart robot market for software is expected to grow at a higher CAGR between 2017 and 2026. Technological advancements in various applications lead to increased complexity in terms of artificial intelligence, autonomous applications this, in turn, demands accurate and efficient software system. Hence smart robot market for software as compared to hardware assists complex functionalities to process efficiently and accurately
Key Highlights:
- Analyzes competitive developments such as contracts, joint ventures, mergers & acquisitions, collaborations, product launches & developments, and research and development (R&D) in the Smart Robot Market
- The objective of the report is to provide a detailed analysis of the Smart Robot Market on the basis of a component, industrial application, service application, and geography
- Complete quantitative analysis of the industry from 2017 to 2026 to enable the stakeholders to capitalize on the prevailing market opportunities
- In-depth analysis of the industry on the basis of market segments, market dynamics, market size, competition & companies involved value chain
- Analysis of the Smart Robot Market with respect to individual growth trends, prospects, and contribution to the total market
- Segment wise business performance detailed in the report will be worthwhile for the organizations willing to enhance its business
- Provides detailed information regarding the major factors influencing the growth of the Smart Robot Market (drivers, restraints, opportunities, and challenges)
- This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business
Years that have been considered for the study are as follows:
- Base Year – 2016
- Estimated Year – 2017
- Forecast Period – 2017 to 2026
For company profiles, 2016 has been considered as the base year. In cases, wherein information was unavailable for the base year, the years prior to it have been considered
Research Methodology:
Bloomberg, Hoovers, Factiva are some of the sites that are being referred to gain insights about Smart Robot Market. Experts from top manufacturing companies along with other stakeholders have been considered. This is done to validate and collect critical information for evaluating trends related to Smart Robot Market during the forecast period. Top-down and bottom-up approaches have been used to estimate the global and regional size of this market. Data triangulation techniques along with other comparative analysis are also used to calculate the exact size of the Smart Robot Market globally
Key Players in the Smart Robot Market Are:
- Irobot
- Softbank
- Kuka
- Hanson Robotics
- ABB
- Honda Motor
- Amazon.Com
- Yaskawa Electric
- Fanuc
- Omron Adept Technologies
- Samsung Electronics
- Delaval
- Eca
- Intuitive Surgical
- Aethon
- Rethink Robotics
- Geckosystems
Key Target Audience:
- Electronic design automation (EDA) and design tool vendors
- ODM and OEM technology solution providers
- Assembly, testing, and packaging vendors
- Intellectual property (IP) core and licensing providers
- End-users/enterprise-users
- Research institutes and organizations
- Enterprise data center professionals
- Market research and consulting firms
- Government bodies,venture capitalists, and private equity firms.
For More Information Visit
https://www.maximizemarketresearch.com/market-report/smart-robot-market/2317/
The scope of the Smart Robot Market:
Research report categorizes the Smart Robot Market based on component, industrial application, service application and geography (region wise). Market size by value is estimated and forecasted with the revenues of leading companies operating in the Smart Robot Market with key developments in companies and market trends.
Smart Robot Market, By Component:
- Hardware
- Software
Smart Robot Market, by Industrial Application:
- Electronics
- Automotive
- Food & Beverages
Smart Robot Market, By Service Application:
- Personal
- Professional
Smart Robot Market, By Geography:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
This Report Is Submitted By @Maximize Market Research Company
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According to the latest research report from Market Research Future (MRFR), the global Smart Robot Market is estimated to grow from USD 4.5 Billion in 2017 to USD 15 Billion by 2023, with a CAGR of 23% during the forecast period.
The report is an important dynamic of the market and gives an idea of the types, processes and value chains contained in the report.
The increase in government initiatives and the development of smart homes and smart cities are expected to open up new growth paths for enterprises to strengthen their existing smart robot product portfolio.
The smart robots are made for doing autonomous tasks and for working along with human being.
In other words, smart robots are the mechanical devices which help humans for developing accuracy, flexibility, and reducing manual labor in industrial processes.
Growth of industrial automation along with the ability of robots to predict breakdowns in the industry are likely to drive the smart robot market during the forecast period.Smart Robot Market, USD BillionThe outstanding players in smart robot market are Honda Motor (Japan), iRobot Corporation (US), Seiko Epson Corporation (Japan), GreyOrange pte Ltd (Singapore), Rethink Robotics (US), KUKA AG (Germany), F Personal Robotics (Switzerland), SoftBank Robotics (Japan), Yaskawa Electric Corporation (Japan), and FANUC (Japan) among others.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/6622Segmentation:By component, the market is segmented into actuators, sensors, power source, and control systems.
Market ScenarioThe smart robots are made for doing autonomous tasks and for working along with human being.
In other words, smart robots are the mechanical devices which help humans for developing accuracy, flexibility, and reducing manual labor in industrial processes.
High initial R expenditure can also contribute to the restrining factors of the smart robot market during the forecast period.Key Players:The prominent players in smart robot market are Honda Motor (Japan), iRobot Corporation (US), Seiko Epson Corporation (Japan), GreyOrange pte Ltd (Singapore), Rethink Robotics (US), KUKA AG (Germany), F Personal Robotics (Switzerland), SoftBank Robotics (Japan), Yaskawa Electric Corporation (Japan), and FANUC (Japan) among others.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/6622Segments:The global smart robot market is segmented on the basis of component, vertical, and region.By Component, the market is segmented into actuators, sensors, power source, and control systems.
Sensor market is segmented into gyroscope, microphone, accelerometer, tilt sensor, force/torque sensor, position sensor, and vision/image sensor.By Vertical, the market is segmented into automotive, manufacturing, electrical & electronics, food & beverage, chemical, residential, and entertainment.By Region, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.Regional Analysis:The global market for smart robot is estimated to grow at a significant rate during the forecast period from 2018 to 2023.
The geographical analysis of smart robot market is studied for North America, Europe, Asia-Pacific, and the rest of the world.North America is expected to grow at rapid pace during the forecast period due to countries like the US, Canada, and Mexico that are considered as the early adopters of robots in various verticals such as medical, consumer electronics, entertainment robots and the largest markets which contribute to the overall regional growth.Asia-Pacific is expected to domainate the global smart robot market during the forecast period.
Asia-Pacific is on a verge of leading the global market economically and technologically owing to continuous advancements in countries such as China, Japan, and South Korea which are expected to dominate the global smart robot market in Asia-Pacific.
