Smart robots have substituted man in execution of tasks that are
either dangerous or repetitive, where man is in capable of performing owing to
body limitations, or tasks that occur in extreme environments such as outer
space or the bottom of the sea. Additionally, smart robots are designed to
carry out specific tasks for personal, professional, and industrial
applications such as elderly assistance, pool cleaning, and robotic pets among
others. Smart robots make use of artificial intelligence (AI) and are
operational without the need of human inputs. Smart robots can work
independently on a specified task and can also work in tandem with human beings
in various service and industrial applications.
The global smart
robot market is segmented on the basis of application into service
robots and industrial robots. Further, the service robots are sub-segmented
into professional service robots and personal service robots. Furthermore,
professional service robots are used across security & defense, logistics,
firefighting, medical, demining, maintenance, inspection, and various other
applications, while personal service robots are used across household, leisure,
and entertainment applications. Industrial robots are further sub-segmented on
the basis of their applications into beverages, food, electronics, and
automotive segments. In addition, the global smart robot market is segmented on
the basis of components into software and hardware.
Within the professional service robot segment, medical domain has
been a key growth segment where there is a growing demand for smart hospital
delivery and robot surgeons. Comparatively, industrial robots are more popular
than service robots and these are anticipated to drive the smart robots market
during the forecast period. Moreover, the growth in the deployment of smart
robots in the education sector is expected to be a promising prospect for the
smart robot vendors
.
The noteworthy drivers of smart robots market include adoption of
smart robots by e-commerce sector, growing demand from the healthcare industry,
the increasing domestic service sector, and the rising demand of robots for
elderly assistance. The growing service robot segment is a fundamental part of
the advanced computer industry and much of the processing unit, sensor
technology, and software is developed by smart robot manufacturers. Contrariwise,
the smart robots market is hindered by high initial investment associated with
the research & development department activities and reduced pace of
commercialization of this technology. Further, the smart robots can be a threat
if there is an error in the software algorithm embedded in them. This can have
a negative impact, harm the surrounding environment and act as a major
hindrance to the market. Additionally, the utilization of smart robots in
manufacturing vertical is resulting in growing unemployment problem. These
factors are anticipated to restrict the global smart robots market.
Europe and North America are the biggest markets for smart robots
and are driven by rapid commercialization and the progress of their
manufacturing industry. Additionally, the early acceptance of technology in
these geographies has encouraged the smart robot market to prosper at a brisk
rate. On the contrary, it is expected that Asia Pacific (APAC) would be the
front-runner, registering fastest growth rate due to significant technological
advancements. Additionally, the present boom in the automotive sector is
predicted to drive the smart robots markets in APAC. Within APAC, service
robots market demand is likely to grow in countries such as China and India
owing to the advancements in the manufacturing sector..
Global Smart
Robots Market Players:
-
Aethon Inc.
- Lely Group
-
Irobot Corp.
-
Northrop Grumman Corp.
-
Google Inc.
-
Intuitive Surgical Inc.
-
Delaval Group
- Honda
Motor Co. Ltd.
-
Amazon.Com
- KUKA
AG
- ABB
Ltd.
- Fanuc
Corp.
- ECA
Group
-
Geckosystems Intl. Corp.
-
Yaskawa Electric Corp.
- Adept
Technology Inc.
-
Bluefin Robotics Corp
Key questions answered in this report
- What
will the market size be in 2025 and what will the growth rate be?
- What
are the key market trends?
- What
is driving this market?
- What
are the challenges to market growth?
- Who are
the key vendors in this market space?
- What
are the market opportunities and threats faced by the key vendors?
- What
are the strengths and weaknesses of the key vendors?
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