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Smart Robot Market See Worldwide Growth by 2025| Honda Motor, FANUC, YASKAWA ELECTRIC, OMRON Adept Technologies, Samsung Electronics

Global Smart Robot Market

Global Smart Robot Market, By Component (Hardware {Sensors and others}& Software), By Industrial Application (Automotive, Electronics, Food and Beverages and others), By Service Application (Personal {Domestic and others} and Professional {Underwater and others}), By Geographical Segments (North America, South America, Europe, Asia-Pacific, Middle East and Africa)- Industry Trends and Forecast to 2025 The Global Smart Robot Market accounted for USD 4.18 million in 2017 and is projected to grow at a CAGR of 24.1% the forecast period of 2018 to 2025.

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The key players in the global smart robot market are Geckosystems, SoftBank, iRobot, KUKA, ABB, Hanson Robotics, Amazon.com, Honda Motor, FANUC, YASKAWA ELECTRIC, OMRON Adept Technologies, Samsung Electronics, Intuitive Surgical, Aethon, Rethink Robotics, Bluefin Robotics, GeckoSystems, BLUE FROG ROBOTICS, AIBrain, Brain Corp, CloudMinds, Energid Technologies, Furhat Robotics, H2O.ai, IBM, Liquid Robotics, Neurala, NVIDIA, Oxbotica among others.

Market Definition: 

A smart robot is a computerized reasoning (AI) framework that can learn from its environment and condition, its experience, and fabricate its abilities in light of that encompassing learning. Smart robots are utilized for proficient, modern and also individual utilize. Furthermore, smart robots are customized uncommonly to deal with industrial applications, for example, automotive assembly, pool cleaning, machinery handling, and robotic pets among others.

Smart robots have substituted man in execution of assignments and tasks that are either risky or repetitive, where man is in fit for performing attributable to body restrictions, or undertakings that happen in outrageous situations, for example, space or the base of the ocean. Furthermore, smart robots are intended to do particular undertakings for individual, proficient, and mechanical applications, for example, elderly help, pool cleaning, and robotic pets among others. Smart robots make utilization of artificial intelligence (AI) and are operational without the need of human information sources. Smart robots can work freely on a predefined assignment and can likewise they can collaborate with individuals in different administration and mechanical applications to perform any specific task. According to Research firm International Data Corporation, by 2019, 30% of commercial service robotic applications will be in the form of a robot-as-a-service (RaaS) business model. This will help cut costs for robot deployment in the commercial sectors.

Market Drivers and Restraints:

  • Growing adoption of autonomous robots for professional services.
  • Emerging technological advancements in the field of robotics.
  • Increasing demand towards AI-based solutions.
  • High initial investment and maintenance costs.

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Segmentation:

The global smart robot market is based on component, industrial application, Service Application and geography.

Based on component:

  • Hardware
  • Software

Based on industrial application:

  • Automotive
  • Electronics
  • Food and Beverages
  • Others

Based on service application:

  • Personal
  • Professional

Based on geography:

  • North America
  • South America
  • Europe
  • Asia-Pacific
  • Middle East & Africa

Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and Brazil among others.

Competitive Analysis:

The global smart robot market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The report includes market shares of smart robot market for global, Europe, North America, Asia Pacific and South America.

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