Smart Robot Market Size to Reach US$ 24.28 Billion, Globally, by 2027 at 17.9% CAGR

IMARC Group has recently released a new research study titled "Smart Robot Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 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.

What are the growth prospects of the smart robot industry?

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.

What is a smart robot?

Smart robots refer to 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), deep learning (DL), etc. Smart robots consist of electric motors, controllers, sensors, effectors, actuators, etc. They are widely used for assembling, welding, painting, material handling, inspection, sorting, security applications, etc. 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. Consequently, they are extensively utilized in the chemical, automotive, electrical and electronics, and food and beverage (F&B) sectors.

Impact of COVID-19:

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.

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What are the major market drivers in the smart robot market?

The expanding healthcare sector across the globe is primarily augmenting the smart robot market. Furthermore, the inflating need for modifying manufacturing facilities into connected factories is positively influencing the global market. Apart from this, the growing prevalence of cognitive, sensory, and motor impairments and the widespread adoption of smart robots as they can perform repetitive and less ergonomic tasks, which allows seamless sharing of information and increases product quality and productivity, are acting as significant growth-inducing factors. Moreover, they are utilized for distributing hand sanitizer and measuring temperatures to avoid human contact, owing to the sudden outbreak of the COVID-19 pandemic, which is also bolstering the market growth. Besides this, the introduction of smart robots equipped with advanced digital technologies, such as the Internet of Things (IoT), that aid in speeding up the production process, reducing human errors, improving accuracy, etc., is further catalyzing the global market. Additionally, the increasing consumer security concerns and extensive R&D activities are expected to fuel the smart robot market in the coming years.

Smart Robot Market 2022-2027 Competitive Analysis and Segmentation:

The report has segmented the market based on component, mobility, application and vertical.

Breakup by Component:
Hardware
Software
Services

Breakup by Mobility:
Stationary
Mobile

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

List of Major Key Players:

The major players in the market are
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.

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

Ask Customization and Browse full report with TOC & List of Figure: https://www.imarcgroup.com/smart-robot-market

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.

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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