According to the latest report by IMARC Group, titled, “Smart Robot Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global smart robot market reached a value of US$ 8.94 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 24.28 Billion by 2027, exhibiting at a CAGR of 17.9% during 2022-2027. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
Smart robots are machines that are designed to assist humans with laborious and complex tasks. They are integrated with advanced technologies, such as machine learning (ML), artificial intelligence (AI), and deep learning (DL). They consist of electric motors, controllers, sensors, effectors, and actuators. Smart robots are widely used for assembling, welding, painting, material handling, inspection, sorting, and security applications. As compared to traditionally used robots, smart robots collaborate with human beings, learn from their environment, and experience and refine or modify their actions accordingly. As a result, they are widely used in the chemical, automotive, electrical and electronics, and food and beverage (F&B) industries.
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Global Smart Robot Market Trends and Drivers:
The significant growth in the healthcare industry across the globe is creating a positive outlook for the market. Smart robots are widely used for minor invasive surgeries in urology or gynecology. In line with this, the increasing prevalence of chronic diseases, such as cognitive, sensory, and motor impairments, and rising demand for elderly care are favoring the market growth. Apart from this, the widespread product utilization to distribute hand sanitizer and measure temperatures to avoid human contact due to the outbreak of COVID-19 is providing a considerable boost to the market growth. Additionally, the increasing demand for smart robots equipped with advanced digital technologies, such as the Internet of Things (IoT) and artificial intelligence (AI) that assist in speeding up the production process, reducing human errors, and improving accuracy, are positively impacting the market growth. Other factors, including the rising demand for lightweight and miniaturized smart robots, widespread product adoption due to the increasing security concerns, and extensive research and development (R&D) activities, are anticipated to drive the market toward growth.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Smart Robot Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- ABB Ltd.
- F&P Robotics AG
- Fanuc Corporation
- Hanson Robotics Limited
- Honda Motor Co. Ltd
- iRobot Corporation
- KUKA AG (Midea Group)
- Neato Robotics Inc. (Vorwerk)
- Rethink Robotics GmbH
- Samsung Electronics Co. Ltd.
- Seiko Epson Corporation
- SoftBank Robotics Corp
- Yaskawa Electric Corporation.
The report has segmented the market based on component, mobility, application and vertical.
Breakup by Component:
- Hardware
- Software
- Services
Breakup by Mobility:
Breakup by Application:
- Welding and Painting
- Assembling and Disassembling
- Material Handling and Sorting
- Inspection and Security
- Others
Breakup by Vertical:
- Automotive
- Manufacturing
- Electrical and Electronics
- Food and Beverages
- Chemical
- Residential
- Others
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
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