Dublin, Feb. 17, 2021 (GLOBE NEWSWIRE) -- The "Global Smart Robots Market By Component, By Mobility, By Operating Environment, By End User, By Region, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The global smart robots market size is expected to reach $25 billion by 2026, rising at a market growth of 27.2% CAGR during the forecast period. Smart robots are considered as artificial intelligence system that provides optimum management of an environment with the combined work of human operators and robots. Smart robots are capable of learning from their environment and experience and develop their abilities on the basis of their knowledge. Also, Smart robots are capable to carry out both manual and cognitive tasks and are extensively used across many industries, like food & beverages, retail, automotive, healthcare, and manufacturing for several applications.
The major factors that push the market growth are the prominence of the Internet of Things (IoT), massive demand for AI applications and service robots. Though, high initial installation costs and low accuracy act as major restraints for the market growth. The market is anticipated to witness better growth prospects with the launch of automated equipment in the consumer electronics and manufacturing sectors. Installation of smart robots is primarily larger in end-use industries like automotive, manufacturing, healthcare, and retail due to features like efficiency and accuracy.
Due to the capability of these systems to work efficiently without the help of humans, the smart robots market is anticipated to display a considerable growth rate. These machines offer multiple advantages like superior efficiency, optimal power consumption, and a high frequency of data and instruction transmission. These factors are set to have a positive impact on market growth in the next few years. Thus, the market is anticipated to provide lucrative growth opportunities for the installation of modern technologies.
By Component
Based on Component, the market is segmented into Hardware and Software. Hardware segment is further segmented into Sensors, Actuators, Control systems, Power Sources and Others. On the basis of component, the software segment is anticipated to develop at a high CAGR during the forecast period in the Smart Robots market. The growing incorporation of advanced technology like the Internet of Things (IoT) and machine learning in smart robot software is boosting the development of the segment. In addition, technological developments in these technologies to manage the complications with respect to functions like inter-device connectivity and autonomous operations, will further fuel the demand for the software segment.
By Operating Environment
Based on Operating Environment, the market is segmented into Ground and Underwater. The Ground based robots market dominated the Global Smart Robots Market by Operating Environment 2019. The Underwater market is expected to showcase promising growth during the forecast period, owing to its rising applications in marine and defense.
By Mobility
Based on Mobility, the market is segmented into Mobile and Stationary. The Mobile market dominated the Global Smart Robots Market by Mobility 2019. The Stationary robots market is estimated to grow at the highest CAGR of 28.7% during (2020 - 2026).
By End User
Based on End User, the market is segmented into Military & Defense, Logistics Management, Inspection & Maintenance, Field/Agricultural, Healthcare, Industrial, Domestic and Others. Fields such as public relations, logistics management, industrial, inspection & maintenance, field & agriculture, healthcare assistance, defense and security, law enforcement, and others come under the professional segment. The primary factor boosting the demand of the segment is the high demand for smart robots in the defense and marine sector in order to safeguard the border of a nation. Moreover, the rising production process complication and miniaturization of semiconductor and electronics devices are encouraging the acceptance of AI-integrated smart industrial robots, thereby fueling the market growth.
By Region
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. On the basis of region, the Asia-pacific region is estimated to develop at a higher growth rate during the forecast period due to the rising adoption of smart robots in multiple industries. The increasing geriatric population in Asia-Pacific nations like China and Japan, and growing need for smart home robots for personal assistance applications are boosting the demand of the market in this region. Further, rising government initiatives with respect to AI-based robots in developing countries of Asia-Pacific is boosting the market growth.
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Amazon.com, Inc., and Samsung Electronics Co., Ltd. are the forerunners in the Smart Robots Market. Companies such as iRobot Corporation, ABB Group, FANUC Corporation, Yaskawa Electric Corporation, Teradyne, Inc., SoftBank Group Corporation, Hanson Robotics Limited, and Kuka AG are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Kuka AG, FANUC Corporation, Yaskawa Electric Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Amazon.com, Inc., iRobot Corporation, SoftBank Group Corporation (SoftBank Robotics), Teradyne, Inc. (Universal Robots) and Hanson Robotics Limited.
Unique Offerings from the Publisher
- Exhaustive coverage
- Highest number of market tables and figures
- Subscription based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Key Topics Covered:
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Smart Robots Market, by Component
1.4.2 Global Smart Robots Market, by Mobility
1.4.3 Global Smart Robots Market, by Operating Environment
1.4.4 Global Smart Robots Market, by End User
1.4.5 Global Smart Robots Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions : 2018, Sep - 2020, Oct) Leading Players
Chapter 4. Global Smart Robots Market by Component
4.1 Global Smart Robots Hardware Market by Region
4.2 Global Smart Robots Market by Hardware Type
4.2.1 Global Smart Robots Control systems Market by Region
4.2.2 Global Smart Robots Actuators Market by Region
4.2.3 Global Smart Robots Sensors Market by Region
4.2.4 Global Smart Robots Power Sources Market by Region
4.2.5 Global Other Hardware Type Smart Robots Market by Region
4.3 Global Smart Robots Software Market by Region
Chapter 5. Global Smart Robots Market by Mobility
5.1 Global Mobile Smart Robots Market by Region
5.2 Global Stationary Smart Robots Market by Region
Chapter 6. Global Smart Robots Market by Operating Environment
6.1 Global Ground Smart Robots Market by Region
6.2 Global Underwater Smart Robots Market by Region
Chapter 7. Global Smart Robots Market by End User
7.1 Global Industrial Smart Robots Market by Region
7.2 Global Logistics Management, Inspection & Maintenance Smart Robots Market by Region
7.3 Global Field/Agricultural Smart Robots Market by Region
7.4 Global Healthcare Smart Robots Market by Region
7.5 Global Military & Defense Smart Robots Market by Region
7.6 Global Domestic Smart Robots Market by Region
7.7 Global Others Smart Robots Market by Region
Chapter 8. Global Smart Robots Market by Region
8.1 North America Smart Robots Market
8.2 Europe Smart Robots Market
8.3 Asia Pacific Smart Robots Market
8.4 LAMEA Smart Robots Market
Chapter 9. Company Profiles
9.1 ABB Group
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research & Development Expense
9.1.5 Recent strategies and developments:
9.1.5.1 Partnerships, Collaborations, and Agreements:
9.1.5.2 Acquisition and Mergers:
9.1.5.3 Product Launches and Product Expansions:
9.1.6 SWOT Analysis
9.2 Kuka AG
9.2.1 Company Overview
9.2.2 Recent strategies and developments:
9.2.2.1 Partnerships, Collaborations, and Agreements:
9.3 FANUC Corporation
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Regional Analysis
9.3.4 Research & Development Expense
9.3.5 Recent strategies and developments:
9.3.5.1 Partnerships, Collaborations, and Agreements:
9.3.5.2 Product Launches and Product Expansions:
9.4 Yaskawa Electric Corporation
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Recent strategies and developments:
9.4.4.1 Partnerships, Collaborations, and Agreements:
9.4.4.2 Product Launches and Product Expansions:
9.5 Samsung Electronics Co., Ltd. (Samsung Group)
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Research & Development Expense
9.5.5 Recent strategies and developments:
9.5.5.1 Product Launches and Product Expansions:
9.5.6 SWOT Analysis
9.6 Amazon.com, Inc.
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental and Regional Analysis
9.6.4 Recent strategies and developments:
9.6.4.1 Acquisition and Mergers:
9.6.4.2 Product Launches and Product Expansions:
9.6.5 SWOT Analysis
9.7 iRobot Corporation
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Regional Analysis
9.7.4 Research & Development Expense
9.7.5 Recent strategies and developments:
9.7.5.1 Partnerships, Collaborations, and Agreements:
9.7.5.2 Acquisition and Mergers:
9.7.5.3 Product Launches and Product Expansions:
9.8 SoftBank Group Corporation (SoftBank Robotics)
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Segmental and Regional Analysis
9.8.4 Research & Development Expense
9.8.5 Recent strategies and developments:
9.8.5.1 Acquisition and Mergers:
9.9 Teradyne, Inc. (Universal Robots)
9.9.1 Company Overview
9.9.2 Financial Analysis
9.9.3 Segmental and Regional Analysis
9.9.4 Recent strategies and developments:
9.9.4.1 Partnerships, Collaborations, and Agreements:
9.9.4.2 Acquisition and Mergers:
9.10. Hanson Robotics Limited
9.10.1 Company Overview
9.10.2 Recent strategies and developments:
9.10.2.1 Partnerships, Collaborations, and Agreements:
9.10.2.2 Product Launches and Product Expansions:
For more information about this report visit https://www.researchandmarkets.com/r/trp5wp