Smart Robots Market Unearthing Opportunities: Player Strategies in Emerging Markets

The new report published by The Business Research Company, titled "Smart Robots Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the smart robots market size has grown exponentially in recent years. It will grow from $13.79 billion in 2023 to $17.46 billion in 2024 at a compound annual growth rate (CAGR) of 26.6%. The smart robots market size is expected to see exponential growth in the next few years. It will grow to $39.49 billion in 2028 at a compound annual growth rate (CAGR) of 22.6%.

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Rapid Industrial Robots Fuels Growth In The Smart Robot Market
The increasing penetration of industrial robots is predicted to boost the growth of the smart robot market over the coming years. Industrial robots are programmable, automated machines designed to perform tasks in manufacturing, assembly, or other industrial processes. These smart robots can perform a wide range of tasks with higher precision and adaptability, making them invaluable in manufacturing, logistics, healthcare, and various other sectors. For instance, in September 2022, according to a report published by the International Federation of Robotics, a Germany-based non-profit organization, 517,385 new industrial robots were installed in companies worldwide in 2021, according to the most recent World Robotics Report. In 2021, Asia installed 74% of the world's newly deployed robots. China, the largest adopter in the region, saw installations grow significantly by 51% with 268,195 units sold. Therefore, the increasing penetration of industrial robots drives the growth of the smart robots market.

Innovative Small Industrial Robots Revolutionize Manufacturing For Enhanced Efficiency
Major companies operating in the smart robot market are developing advanced products, such as the small industrial robots, to meet larger customer bases, more sales, and increase revenue. Small industrial robots are compact robotic systems designed for precise and specialized tasks in industrial applications. For instance, in October 2022, ABB, a Switzerland-based provider of automation technologies, launched the IRB 1010, the smallest industrial robot. The compact system is specifically engineered to assist electronics manufacturers in scaling up production for devices such as smartwatches, earphones, sensors, and health trackers, according to the company. Measuring with a reach of 370 mm (14.5 inches) and a footprint of 135 by 250 mm (5.3 by 9.8 inches), the IRB 1010 surpasses ABB's current smallest robot, the IRB 120, by being 30% smaller. These dimensions open up the possibility of fitting more robotic cells into production spaces, allowing manufacturers to enhance output by optimizing factory layouts with higher density. Furthermore, the IRB 1010 boasts the highest payload capacity in its category, capable of lifting up to three times more weight compared to similar robot arms. Additionally, it features a larger-diameter air hose that enhances vacuum suction power, enabling the robot to handle multiple objects simultaneously and process a greater number of items per hour.

The smart robots market covered in this report is segmented -

1) By Component: Hardware, Software, Services
2) By Product: Professional Service Robots, Personal Service Robots, Collaborative Robots
3) By End-User: Industrial, Residential, Commercial
4) By Application: Manufacturing, Healthcare, Defense, Energy and Utility, Other Applications

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Major companies operating in the smart robots market include Puresight Systems Pvt. Ltd, SoftBank Robotics Group, ABB Group, KUKA AG, FANUC India Pvt Ltd, HaHanson Robotics Limited., Yaskawa Electric Corporation, Rethink Robotics, Blue Frog Robotics SAS, Universal Robots, DeLaval, Intuitive Surgical Inc., Vt Systems Inc., Samsung Electronics, Gecko Systems International Corporation, Honda Motor Company Ltd., Omron Adept Technologies Inc., GreyOrange pte Ltd, Kongsberg Maritime, ECA GROUP, Neato Robotics, Bluefin Robotics, AIBRAIN LLC., Brain Corporation, Cyberdyne Inc., Epson America Inc, Lely Industries N.V., OTC Daihen Inc., F&P Personal Robotics., Nvidia Corporation., Anduril Industries Inc., Boston Dynamics Inc., Diligent Robotics, Starship Technologies, Nuro Inc., Vecna Robotics Inc., Aethon Inc., Universal Robots A/S, DENSO Robotics

Contents of the report:
1. Executive Summary
2. Smart Robots Market Report Structure
3. Smart Robots Market Trends And Strategies
4. Smart Robots Market - Macro Economic Scenario
5. Smart Robots Market Size And Growth
…..
27. Smart Robots Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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