Global Smart Robots Market, By Component (Hardware and Software), Industrial Application (Automotive, Electronics, Food and Beverages and others), Service Application (Personal and Professional), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights : Global Smart Robots Market
Data Bridge Market Research analyses that the smart robots market will exhibit a CAGR of 19.8% in the forecast period of 2022 to 2029.
A smart robot is a type of a computerized reasoning (AI) system which is capable of learning from its environment and situation, its knowledge, and producing its skills in light of that wide-ranging learning. Smart robots are highly used for scientific, industrial and even individual use. In addition, smart robots are especially designed to handle industrial applications.
The high adoption of autonomous robots for professional services is the major factor accelerating the growth of the market. Furthermore, the new developments in robotics technology, labor shortage due to COVID-19-responsive ban on migration, rise in the integration of IoT in robots for cost-efficient predictive maintenance and high investment in industrial automation are also expected to drive the growth of the smart robots market. However, the strong initial spending on research and development and stringent regulations restrains the smart robots market, whereas, the safety concern owing to complex high-level interfacing will challenge market growth.
In addition, adoption of robots for companionship, handicap assistance, and elderly care and the high adoption of swarm intelligence technology enabling robots to perform various complex tasks with ease will create ample opportunities for the smart robots market.
This smart robots market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on smart robots market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Smart Robots Market Scope and Market Size
The smart robots market is segmented on the basis of component, industrial application, and service application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- Based on component, the smart robot market is segmented into hardware and software. The hardware segment is further sub segmented into sensor, actuator, power source, control system/controller and others. Others are further sub-segments into body material and other electronic, electrical, and mechanical components.
- Based on industrial application, the smart robot market is segmented into automotive, electronics, food and beverages and others.
- Based on service application, the smart robot market is segmented into personal and professional. Personal segment is further sub segmented into domestic, entertainment and others. The professional segment is further sub segmented into defence & security, field, medical, underwater, logistics, telepresence, inspection & maintenance and others.
Smart Robots Market Country Level Analysis
The smart robots market is segmented on the basis of component, industrial application, and service application.
The countries covered in the smart robots market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the smart robots market and will continue to flourish its trend of dominance during the forecast period due to high adoption of autonomous robots for professional services, new developments in robotics technology and rising investment. Asia-Pacific will however, register the highest CAGR in the forecast period of 2022 to 2029 due to presence of smart robot vendors.
The country section of the smart robots market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Robots Market Share Analysis
The smart robots market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points are only related to the companies’ focus on the smart robots market.
The major players operating in the smart robots market report are Geckosystems Intl. Corporation, SoftBank Corporation, Puresight Systems Pvt. Ltd., KUKA AG, ABB, Hanson Robotics Ltd., Amazon Inc., Honda Motor Company Ltd., FANUC Corporation, YASKAWA ELECTRIC CORPORATION, OMRON Adept Technology Inc., Samsung Electronics Co. Ltd., Intuitive Surgical, Aethon, AIBRAIN Inc., Brain Corporation, Cyberdyne Inc., Greyorange, Epson America Inc., Lely, and DeLaval among others.