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. Early and future assessments of the rapidly changing market scenarios and their impact are covered in the report. 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 report also examines the impact of the COVID-19 pandemic on the global smart robot market. This research report furthermore combines industry-wide statistically significant quantitative statistics and insightful qualitative analysis.
The Smart Robot Market is expected to observe various growth opportunities during the forecast period. 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 Billion
The 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&P Personal Robotics (Switzerland), SoftBank Robotics (Japan), Yaskawa Electric Corporation (Japan), and FANUC (Japan) among others.
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Segmentation:
- By component, the market is segmented into actuators, sensors, power source, and control systems. Actuators market is segmented into electrical, pneumatic, hydraulic, piezoelectric, and ultrasonic. 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:
North America is expected to grow at faster rate during the forecast period. The presence of big players and early adoption of new technologies such as IoT and AI are also contributing to the regional market growth significantly. Asia-Pacific is expected to dominate 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.
Intended Audience
- Raw material and manufacturing equipment suppliers
- Electronic design automation (EDA) and design tool vendors
- Original equipment manufacturers (OEMs)
- Integrated device manufacturers (IDMs)
- Original design manufacturers (ODMs)
- ODM and OEM technology solution providers
- Assembly, testing, and packaging vendors
- Technology, service, and solution providers
- Intellectual property (IP) core and licensing providers
- Suppliers and distributors
- Government and other regulatory bodies
- Technology investors
- Research institutes and organizations
- Market research and consulting firms
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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.
(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.
In addition, can be programmed to handle complex operations such as patient assisting, automotive assembly, microscopic nano robots.
However, high initial investments, huge expenditure on research and development of robots are the major factors restraining the growth of the smart robot market.
Since North America was among the first smart robots market it is expected to dominate the overall smart robot market during the forecast periodAPAC 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.
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) in the Smart Robot MarketThe 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 geographyComplete quantitative analysis of the industry from 2017 to 2026 to enable the stakeholders to capitalize on the prevailing market opportunitiesIn-depth analysis of the industry on the basis of market segments, market dynamics, market size, competition & companies involved value chainAnalysis of the Smart Robot Market with respect to individual growth trends, prospects, and contribution to the total marketSegment wise business performance detailed in the report will be worthwhile for the organizations willing to enhance its businessProvides 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 – 2016Estimated Year – 2017Forecast Period – 2017 to 2026 For company profiles, 2016 has been considered as the base year.
Top-down and bottom-up approaches have been used to estimate the global and regional size of this market.
