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Smart Robots Market Key Trends, Size And Forecast To 2024-2033
"The Business Research Company recently released a comprehensive report on the Global Smart Robots Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
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According to The Business Research Company's, 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 growth in the historic period can be attributed to growth in demand for automation and labor cost reduction, expansion of industries requiring robotic automation (manufacturing, healthcare, logistics, etc.), increased adoption of collaborative robots (cobots) for human-robot interaction, focus on safety and efficiency in manufacturing and industrial processes, advances in sensing and perception technologies for robotics, need for precision and accuracy in complex tasks.
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%. The growth in the forecast period can be attributed to adoption of robots in healthcare for surgical and rehabilitation applications, expansion of smart manufacturing and industry 4.0 initiatives, research and development in swarm robotics and multi-robot systems, need for robots in hazardous environments (nuclear, oil & gas, etc.), emphasis on smart agriculture and autonomous farming practices, growing demand for last-mile delivery robots in e-commerce. Major trends in the forecast period include ai-powered adaptive learning, natural language processing (nlp) and voice recognition, robotic process automation (rpa) in business processes, edge computing for real-time decision-making, emotional ai and social robotics, augmented reality (ar) and mixed reality (mr) integration.
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Market Drivers and Trends:
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.
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.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
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
Smart Robots Market 2024 Key Insights:
• 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%.
• Rapid Industrial Robots Fuels Growth In The Smart Robot Market
• Innovative Small Industrial Robots Revolutionize Manufacturing For Enhanced Efficiency
• North America was the largest region in the smart robots market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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