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Smart Robots Market worth $127.32 billion by 2030, growing at a CAGR of 34.14% - Exclusive Report by 360iResearch
Smart Robots Market | 360iResearch
The Global Smart Robots Market to grow from USD 16.28 billion in 2023 to USD 127.32 billion by 2030, at a CAGR of 34.14%.
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The smart robot market encompasses robotic systems that can perform autonomous tasks, learn from their environments, and work in collaboration with human beings. These robots are integrated with advanced technologies such as artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT). Smart robots have a diverse range of applications, with end-uses spanning from industrial automation to personal assistance and entertainment. Increased adoption of automation by various industries is expanding the usage of smart robots. The growing elderly population requiring caregiving solutions and increased consumer spending on robots for personal use is expanding the scope of the market. Government initiatives supporting the integration of automation in industries and the investment in IoT technologies also contribute significantly to market growth. High initial costs of deployment, technical complexities associated with the integration of robots, and a lack of skilled workforce to manage and maintain these systems hamper the market growth. The development of collaborative robots (cobots) that work alongside humans and the rising adoption of smart robots in small and medium-sized enterprises (SMEs) are expected to create opportunities for market growth.
The Americas represents a highly developing landscape for the smart robots market, with high consumer adoption rates due to strong purchasing power and a keen interest in innovative technologies. The region is home to leading tech companies investing heavily in R&D. Recent patents highlight advancements in AI, machine learning, and robotics. Moreover, there is significant government and private sector investment in robotics research, evidenced by initiatives such as the Robotic Industries Association (RIA). In the European Union, the smart robot market is sophisticated, with a focus on innovation and compliance with stringent regulations, including GDPR. EU consumers tend to prioritize ethical considerations and data security in their purchasing decisions. The EU has numerous collaborative research projects and funding opportunities, such as Horizon 2020, to foster advancements in robotics. The Middle East exhibits a fast-growing market for smart robots, particularly in the Gulf Cooperation Council (GCC) countries. The use of robots in service industries, such as hospitality and government services, is increasing. With high disposable incomes, consumers in the Middle East are willing to invest in advanced robotic systems. Africa's market for smart robots has significant potential due to its young demographic and increasing focus on technological education. Asia-Pacific's smart robots market is growing, driven by vast manufacturing capabilities and government incentives for automation. Chinese consumers are rapidly adopting robots for personal and professional use, leading to a surge in domestic production.
Market Segmentation & Coverage:
This research report categorizes the Smart Robots Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Component, market is studied across Hardware and Software. The Hardware is further studied across Actuators, Control systems, Power sources, and Sensors. The Hardware commanded largest market share of 77.30% in 2023, followed by Software.
Based on Mobility, market is studied across Mobile and Stationary. The Mobile commanded largest market share of 79.50% in 2023, followed by Stationary.
Based on Operating Environment, market is studied across Ground and Underwater. The Ground commanded largest market share of 62.00% in 2023, followed by Underwater.
Based on Application, market is studied across Personal & Domestic and Professional. The Professional is further studied across Agricultural, Healthcare Assistants, Inspection & Maintenance, Law Enforcement, Logistics Management, Military & Defense, and Public Relations. The Professional commanded largest market share of 92.99% in 2023, followed by Personal & Domestic.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 36.86% in 2023, followed by Asia-Pacific.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Smart Robots Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Smart Robots Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Smart Robots Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Amazon.com, Inc., Blue Frog Robotics SAS, Brain Corporation, ECA Group, Epson America Inc., F&P Robotics AG, FANUC Corporation, Fetch Robotics, Inc., Gecko Systems International Corporation, HAHN Group GmbH, Hanson Robotics Limited, Honda Motor Co., Ltd., Honeywell International Inc., Intuitive Surgical, Inc., iRobot Corporation, Kongsberg Gruppen ASA, KUKA AG, Mitsubishi Electric Corporation, Neato Robotics, Inc., Omron Corporation, Panasonic Holdings Corporation, Samsung Electronics Co., Ltd., SharkNinja Operating LLC, Siemens AG, SoftBank Robotics Group Corporation, ST Engineering Aethon, Inc., Universal Robots A/S, Visevi Robotics GmbH, and YASKAWA Electric Corporation.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Smart Robots Market, by Component
7. Smart Robots Market, by Mobility
8. Smart Robots Market, by Operating Environment
9. Smart Robots Market, by Application
10. Americas Smart Robots Market
11. Asia-Pacific Smart Robots Market
12. Europe, Middle East & Africa Smart Robots Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Smart Robots Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Smart Robots Market?
3. What is the competitive strategic window for opportunities in the Smart Robots Market?
4. What are the technology trends and regulatory frameworks in the Smart Robots Market?
5. What is the market share of the leading vendors in the Smart Robots Market?
6. What modes and strategic moves are considered suitable for entering the Smart Robots Market?
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