The
global smart robots market size is anticipated to reach
USD 16.46 billion by 2025, according to a new report by Grand View Research,
Inc. It is anticipated to expand at a CAGR of 22.4% over the forecast period.
Factors such as increasing adoption of autonomous robots for carrying out
iterative tasks, rapid technological developments in robotics, and increasing
investments in industrial automation have boosted the adoption of smart robots
in various end use segments.
Smart
robots are commonly used for performing various tasks in field applications,
metal fabrication, packaging and palletizing, among others. These robots
perform tasks independently as well as can work with humans in various
manufacturing and maintenance operations. Smart robots are widely used in
industries such as automotive and manufacturing to enhance productivity and to
reduce labor cost. In addition, benefits such as minimal accidents and higher accuracy
are driving the market growth.
The
introduction of smart collaborative robots and Artificial Intelligence (AI)
enabled systems with enhanced reliability and accuracy is expected to drive
growth of the smart robots market over the forecast period. Numerous companies
such as Fanuc Corporation, ABB Ltd., and Yaskawa Electric Corporation, among
others, are implementing advanced robotics technologies for versatile end-use
applications. This factor is anticipated to further boost the market expansion
in the forthcoming years.
The
industrial robot segment is anticipated to witness substantial growth in near
future owing to their wide adoption in process automation in various
industries. Increasing investment in industrial automation has boosted the
adoption of smart robots among packaging, manufacturing, and material handling
among other industries. Moreover, rising adoption of Internet of Things (IoT)
and Artificial Intelligence (AI) has also encouraged end users to implement the
smart robotics technology.
The
market for smart robots is expected to witness volatility owing to mergers and
acquisitions, high competition, and presence of new as well as well-established
participants. In August 2016, Panasonic Corporation acquired OpenSynergy GmbH,
a German software company. OpenSynergy is a high-tech company specializing in
embedded automotive software for cockpit solutions. This acquisition is
expected to enhance its business in the automotive sector.
Browse full research report on Smart
Robots Market:
https://www.grandviewresearch.com/industry-analysis/smart-robots-market
Further key
findings from the study suggest:
- Demand for smart
robots has increased over the years owing to benefits such as automation,
safety, cost reduction, and reliability
- Governments across
the globe are promoting industrial automation to improve productivity
- The Asia Pacific
region is projected to witness remarkable growth over the forecast period
owing to increasing application of smart robots in manufacturing and
automotive industries
- The market is
expected to grow at exponential pace as numerous diverse applications come
to light and different types of niche products including application
specific robots are commercialized
- Key players in the
smart robots market include ABB Ltd., Kuka AG, iRobot Corporation, and
Fanuc Corporation, among others.
Browse request sample of this report by
Grand View Research:
https://www.grandviewresearch.com/industry-analysis/smart-robots-market/request/rs1
Grand
View Research has segmented the global smart robots market based on component,
application, end use, vertical, and region:
Smart Robots
Component Outlook (Revenue, USD Million, 2014 - 2025)
- Hardware
- Software
- Service
Smart Robots
Application Outlook (Revenue, USD Million, 2014 - 2025)
- Industrial Robots
- Field Applications
- Metal Fabrication
- Packaging and
Palletizing
- Others
- Service Robots
- Mobility
- Security &
Inspection
- Healthcare
Applications
- Others
Smart Robots
End Use Outlook (Revenue, USD Million, 2014 - 2025)
- Industrial
- Commercial
- Residential
Smart Robots
Vertical Outlook (Revenue, USD Million, 2014 - 2025)
- Automotive
- Healthcare
- Manufacturing
- Food & Beverages
- Retail
- Energy & Utility
- Others
Smart Robots
Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- South Korea
- Japan
- South America
- Brazil
- Middle East &
Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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