Press release
Smart Robots Market Poised for 21.030% % Growth, Set to Hit $162.72 Billion by 2029
Smart Robots Market
The forecasted rise in the usage of industrial robots is expected to spur the expansion of the smart robot market in the next few years. Manufactured to conduct multiple tasks in industrial settings, such as manufacturing and assembly processes, these automated machines can be programmed to suit specific tasks. These smart robots offer versatility with improved precision, making them indispensable in industries such as healthcare, logistics, and manufacturing, among others. As per data from the International Federation of Robotics, a Germany-based non-profit dedicated to advocating for and safeguarding the global robotics industry, there were 72,000 installations of industrial robots across Europe in 2022, representing a 6% increase compared to 2021. This growing use of industrial robots is a key driver for the development of the smart robot market.
Get Your Smart Robots Market Report Here:
https://www.thebusinessresearchcompany.com/report/smart-robots-global-market-report
What growth opportunities are expected to drive the smart robots market's CAGR through 2034?
In recent years, the market size for smart robots has seen a remarkable growth. It is projected to escalate from $17.35 billion in 2024 to $21.92 billion in 2025, indicating a compound annual growth rate (CAGR) of 26.3%. Factors such as the rising demand for automation, reduction in labor costs, expansion of sectors like manufacturing, healthcare, logistics which necessitate robotic automation, increasing incorporation of collaborative robots or cobots for human-robot interface, an emphasis on safety and efficiency in manufacturing and industrial procedures, breakthroughs in sensing and perception technology for robotics, and the requirement for precision and exactitude in intricate tasks have all contributed to the growth in the past period.
The market for smart robots is anticipated to witness tremendous growth in the upcoming years. The estimated value of this market by 2029 is $47.02 billion, with a projected compound annual growth rate (CAGR) of 21.0%. Factors contributing to this substantial growth include adoption of robots for surgical and rehabilitation operations in healthcare, the rise of smart manufacturing and industry 4.0 initiatives, advances in swarm robotics and multi-robot systems research and development, the requirement of robots in high-risk environments such as nuclear facilities and oil & gas fields, the focus on autonomous farming and smart agriculture, and increase in demand for last-mile delivery robots in e-commerce. Key trends occurring within this growth period comprise of ai-powered adaptive learning, natural language processing (NLP) and voice recognition technologies, the use of robotic process automation (RPA) in business affairs, edge computing in instantaneous decision-making, emotional AI and social robotics, and the incorporation of augmented reality (AR) and mixed reality (MR).
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=4021&type=smp
What are the emerging trends shaping the future of the smart robots market?
Big companies in the smart robot market, such as ABB, a Switzerland-based automation technology provider, are turning their focus to create innovative products like compact industrial robots to increase their customer base, sales, and subsequent revenue. These small industrial robots are precisely built for distinct tasks in industrial setups. ABB introduced the smallest industrial robot, IRB 1010, in October 2022. It was designed specifically to assist producer of electronics in ramping up the production of gadgets like smartwatches, earphones, sensors, and health trackers. The IRB 1010, with a reach of 370mm (14.5 inches) and a footprint of 135 by 250mm (5.3 by 9.8 inches), is 30% tinier than ABB's current smallest robot, the IRB 120. The small size of the robot allows more such cells to be installed in the production area, thereby increasing the output by allowing for a higher density layout. The IRB 1010 also has the highest payload in its class and can lift up to three times more weight than similar robot arms. It also has a wider air hose for improved vacuum suction ability, enabling it to handle several objects at once and process more items per hour.
Which growth-oriented segments of the smart robots market are leading the industry's development?
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
Subsegments:
1) By Hardware: Sensors, Actuators, Chassis and Frames, Power Supply Units
2) By Software: Control Software, AI and Machine Learning Algorithms, Navigation and Mapping Software, User Interface and Monitoring Software
3) By Services: Installation and Integration Services, Maintenance and Repair Services, Training and Support Services, Customization and Development Services
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=4021
What regions are leading the charge in the smart robots market?
North America was the largest region in the smart robots market in 2024. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the smart robot's market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What companies are at the forefront of innovation in the smart robots market?
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
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=4021&type=smp
What Is Covered In The Smart Robots Global Market Report?
•Market Size Forecast: Examine the smart robots market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the smart robots market for a structured understanding.
•Key Players Overview: Analyze major players in the smart robots market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart robots market.
•Segment Contributions: Evaluate how different segments drive overall growth in the smart robots market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart robots market.
•Industry Challenges: Identify potential risks and obstacles affecting the smart robots market.
•Competitive Landscape: Review strategic developments in the smart robots market, including expansions, agreements, and new product launches.
Connect with 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.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Smart Robots Market Poised for 21.030% % Growth, Set to Hit $162.72 Billion by 2029 here
News-ID: 3884716 • Views: …
More Releases from The Business Research Company
Segment Evaluation and Major Growth Areas in the Personalized Testing and Supple …
The personalized testing and supplements sector is gaining remarkable traction, driven by advancements in technology and a rising consumer focus on tailored health solutions. As more individuals seek customized wellness options, this market is set to experience substantial expansion in the coming years. Here's an in-depth look at its current valuation, key players, significant trends, and the main market segments shaping its future.
Market Valuation and Expansion Forecast for Personalized Testing…
Top Players and Market Competition in the Skin Microbiome Industry
The skin microbiome market is emerging as a significant area of interest due to growing awareness about the critical role of skin health and innovative skincare technologies. As research advances and consumer preferences shift towards more natural and science-backed products, this market is set to undergo substantial growth. Let's explore the current market size, key players, driving factors, and upcoming trends shaping the skin microbiome industry.
Projected Expansion in the Skin…
Key Strategic Developments and Emerging Changes Shaping the Upadacitinib Market …
The upadacitinib market is poised for significant expansion over the coming years, driven by advances in treatment options and increasing awareness of autoimmune diseases. This report delves into the market's current size, key drivers, major players, and the emerging trends shaping its future trajectory.
Steady Growth Expected in Upadacitinib Market Size Through 2029
The market for upadacitinib is projected to reach $2.54 billion by 2029, growing at a robust compound annual…
Analysis of Key Market Segments Driving the Alzheimer's Disease Diagnostic Marke …
The Alzheimer's disease diagnostic sector is rapidly evolving as advancements in technology and healthcare infrastructure open new possibilities for early detection and personalized treatment. With rising awareness and innovative approaches, this market is poised for significant growth in the coming years. Let's explore the current market size, key drivers, leading companies, and emerging trends that are shaping this critical healthcare field.
Projected Market Size and Growth Trends in Alzheimer's Disease Diagnostics…
More Releases for Robots
Fully Autonomous Robots: Revolutionizing the Construction Robots Market
The construction industry is on the cusp of a technological revolution, driven by the rise of robotics and automation. Within this rapidly evolving landscape, fully autonomous robots are emerging as a game-changer, poised to reshape how we design, build, and maintain our built environment. These robots leverage cutting-edge technologies like artificial intelligence (AI), machine learning, and advanced sensors to perform tasks with minimal human intervention, leading to increased efficiency, safety,…
Warehouse Robotics Market 2023| Bases on Products- Mobile Robots, Articulated Ro …
The Warehouse Robotics Market is a dynamic and growing segment within the food industry, characterized by the production and distribution of freshly made pasta products. With consumers increasingly seeking high-quality, artisanal, and convenient meal options, the Warehouse Robotics market has witnessed a surge in demand. It encompasses a wide range of pasta varieties, from traditional favorites like spaghetti and fettuccine to innovative, gourmet creations. The market's scope extends across both…
Pharmaceutical Robots Market 2021 Scope by Type (Traditional Robots (Articulated …
Pharmaceutical Robots Market report has been structured after a thorough study of various key market segments like market size, latest trends, market threats and key drivers which drives the market. This market study report has been prepared with the use of in-depth qualitative analysis of the global market. The report displays a fresh market research study that explores several significant facets related to Pharmaceutical Robots Market covering industry environment, segmentation…
Packaging Robots : Robots that Make Packaging Easier
Packaging robots are robotics system used for packaging purposes and reduce labor cost and package time. These packaging robots are flexible and can easily integrate into workspace. Packaging robots are type of industrial robots are used for packaging applications in manufacturing facilities for operations such as filling, primary packaging, placing, picking, palletizing, and de-palletizing.
Packaging robots provide a variety of benefits including reduced part package time, labor cost reduction, and…
Emotional Therapy Robots Market Key Players - BeatBotsPARO RobotsSoftbank Group, …
"Emotional Therapy Robots Market Overview: Introduction
Decisive Markets Insights brings out report on Global Emotional Therapy Robots Market. The comprehensive report presents clear foresight of the booming market owing to the expanding consumer base and technological advancement. Experts predicts the business to grow at a value of USD xx billion during 2020 – 2025 at a steady compounded annual growth of rate (CAGR) of x%, over the…
Global Medical Robots Market (Surgical Robots, Rehabilitation Robots, Telepresen …
The new and innovative report of the Medical Robots Market research has been published by Report Consultant to give desired insights to drive the growth of businesses. The report comprises the summarized data of the current scenario as well as predictions about the upcoming trends.
A medical robot is a robot used in the medical sciences. They include surgical robots. These are in most tele-manipulators, which use the surgeon's actions on…
