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- Smart Robots Market – Size, Outlook, Trends and Forecast (2023 – 2030)
A robot is a machine, which is capable of carrying out of complex actions automatically and can be controlled by humans. Smart robots are those, which are capable of handling the things and processes with ease and with no time under critical circumstances. Availability of affordable and energy efficient robots with growing adoption of these robots in various industries are driving the market growth.
Global Smart Robots Market Segments Size & Growth:
Global smart robots market is valued at $4.94 Billion in 2018 and is expected to reach around $15.29 Billion by 2024 at a CAGR of 23.10%. The accelerating factors of smart robots market include the high requirement for automation, emerging technological advancements in the field of robotics, increase in investments towards industrial automation, availability of affordable & energy efficient tools and increase in investments in R & D activities are majorly driving the market. However, high initial investment and installation cost along with safety concerns due to complex high-level interfacing.
Global Smart Robots Market Segments Share:
Global smart robots market share by a component is segmented into software and hardware. Among which equipment is sub-segmented into sensors, actuators, power source, control systems and others. Smart robot market by software is dominating the market and growing at a higher CAGR over the forecast period. Technological advancements, which lead to the complexities of features such as connectivity, artificial intelligence, which is increasing the overall market value in smart robots market.
Smart robots by type are classified into articulated robots, Cartesian robots, Scara robots, cylindrical robots and others. Among which articulated robots are accounting for the significant share in the market owing to their increased usage of these robots in various sectors such as packaging, healthcare and others in emerging economies. These articulated robots can range from simple two-jointed structures to systems with 10 or more interacting robots. However, cylindrical robots have sustainable growth rates in APAC region due to their applications in various industries.
Smart robots by Functionality is categorised into soldering & welding, material handling, assembling & disassembling, painting & dispensing and others (milling, cutting and processing). Among which material handling is holding the most significant revenue as it is utilised under various purposes in various industries, which are used for the administration of the materials to carry out the industrial operations including storage, picking and placing and some other activities.
Smart robots are majorly utilised under various applications such as service robots, industrial robots, commercial robots, professional robots, personal robots and others. Professional robots segment is expected to dominate the market with higher CAGR value as there is a high demand for these robots in defence and security and marine sectors. Service robots are also growing with a higher growth rate, as the usage of these robots is primary in private and educational institutes.
End-user industries in smart robot market include defence and security, medical, marine, food & beverages, automotive, logistics and others. The automotive industry has the share of around 54.5% of overall smart robots market. Adoption of IOT and big data in these applications will increase the efficiency and enhance the safety, which is driving the intelligent robots market in this industry.
Geographical analysis of smart robots market under various regions North America, Asia-Pacific, Europe, South America and the Middle East and Africa in which Asia-Pacific is experiencing the inclination in development owing to the penetration of emerging economies such as China and India. This region is noticed to be the fastest growing region in the market. Americas accounted for the most significant share in the market owing to the adoption of smart robots in industries and high demand for these robots in the market is driving the market in this region.
Industrial Robotics Company in Germany is working on consumer robots, which are used as personal robots and are transforming into interactive connected ply devices that have virtually limitless possibilities. Adoption of industrial robots in France and prevalence of more and more robotic technology in Germany is driving the smart robots market in this region.
North America is the most significant market for smart robots and is driven by rapid commercialisation and progress of their manufacturing industry. Higher adoption of intelligent robots with advanced technologies is majorly driving the market in this region.
Argentina offers smart agro-technologies that are automation and robotics to spray the crops or for low-cost urban agriculture. This newer adoption of these robotic technologies in agriculture sector is majorly driving the market in this region.
Global Smart Robots Market Trends:
- Growth in the deployment of smart robots in the education sector.
- New technologies such as Artificial intelligence is penetrating into the world of robotics.
- KUKA robotics to present plastic processing robotics.
Global Smart Robots Market Research Report includes:
An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.
Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
Identifying DROC in the current market and their impact in altering the market dynamics.
Competitive landscape analysis to identify the mergers and acquisitions, which will have a comparative financial study with significant competitors.
Expertise investment opportunities by the analyst to the individual and organisation to have the better foothold in the market.
The major market players are
- ABB Ltd
- Daihen Corporation
- Denso Corporation
- Fanuc Corporation
- Kawasaki heavy industries Ltd
- KUKA Robotics Corporation
Along with these companies, there were many other companies considered/cited in the report while analysing the global smart robots market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.”
1 Introduction
1.1 Executive Summary
1.2 Market Definition
1.3 Scope of the Study
2 Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Analytic Tools and Model
2.4 Economic Indicator
2.4.1 Base Year, Base Currency, Forecasting Period
2.5 Expert Validation
2.6 Study Timeline
3 Market Analysis
3.1 Industry Value Chain Analysis
3.2 Porter’s Five Analysis
3.2.1 Bargaining Power of Buyers
3.2.2 Bargaining Power of Suppliers
3.2.3 Threats of Substitutes
3.2.4 Threats of New Entrants
3.2.5 Industry Rivalry
3.3 PESTLE Analysis
3.3.1 Political
3.3.2 Economical
3.3.3 Social
3.3.4 Technological
3.3.5 Legal
3.3.6 Environmental
3.4 SWOT Analysis
3.4.1 Strengths
3.4.2 Weakness
3.4.3 Opportunities
3.4.4 Threats
3.5 Y-O-Y Analyses
4 Market Dynamics
4.1 Drivers
4.1.1 High requirement for automation.
4.1.2 Emerging technological advancements in the field of robotics.
4.1.3 High labour cost & dearth of the skilled human workforce.
4.1.4 Availability of affordable & energy efficient robots.
4.1.5 Increase in investments in R & D activities.
4.1.6 Increase in investments towards industrial automation.
4.1.7 Growing adoption of autonomous robots for professional services.
4.2 Restraints & Challenges
4.2.1 High initial investment and installation cost.
4.2.2. Safety concerns due to complex high-level interfacing.
4.3 Opportunities
4.3.1 Increase in Application areas.
4.3.2 Rise in demand for personal services.
4.3.3 Growth in emerging economies.
4.3.4 Huge potential in developing countries.
4.3.5 Adoption of IOT on a broad level.
5 Global Smart Robots Market – By Component
5.1 Introduction
5.2 Software
5.3 Hardware
5.3.1 Sensors
5.3.2 Power sources
5.3.3 Actuators
5.3.4 Control systems
5.3.5 Others
6 Global Smart Robots Market – By Type
6.1 Articulated robots
6.2 Cartesian robots
6.3 Scara robots
6.4 Cylindrical robots
6.5 Others
7 Global Smart Robots Market – By Function
7.1 Soldering & welding
7.2 Material handling
7.3 Assembling and dissembling
7.4 Painting and dispensing
7.5 Milling, cutting and processing
7.6 Others
8 Global Smart Robots Market – By Application
8.1 Service robots
8.2 Industrial robots
8.3 Commercial robots
8.4 Professional robots
8.5 Personal robots
8.6 Others (Entertainment)
9 Global Smart Robots Market – By End-user
9.1 Automotive
9.2 Healthcare
9.3 Defense & security
9.4 Food & beverages
9.5 Logistics
9.6 Marine
9.7 Others
10 Global Smart Robots Market – By Geography
10.1 North America
10.1.1 U.S.
10.1.2 Canada
10.1.3 Mexico
10.2 Europe
10.2.1 U.K
10.2.2 Germany
10.2.3 France
10.2.4 Italy
10.2.5 Spain
10.2.6 Others
10.3 Asia-pacific
10.3.1 China
10.3.2 Japan
10.3.3 India
10.3.4 Australia & New Zealand
10.3.5 South Korea
10.4 South America
10.4.1 Brazil
10.4.2 Argentina
10.4.3 Others
10.5 The Middle East and Africa
10.5.1 Middle East
10.5.2 Africa
10.5.3 Others
11 Global Smart Robots Market – Competitive Landscape
11.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
11.2 Market Share Analysis
11.3 Strategies Adopted By Top Companies
12 Global Smart Robots Market – Company Profiles
12.1 ABB Ltd
12.2 Daihen Corporation
12.3 Denso Corporation
12.4 Fanuc Corporation
12.5 Kawasaki heavy industries Ltd
12.6 KUKA Robotics Corporation
12.7 Mitsubishi Electric Corporation
12.8 Panasonic Corporation
12.9 Nachi-Fujikoshi Corporation
12.10 Seiko Epson Corporation
12.11 Universal robots
12.12 Yaskawa electric Corporation
12.13 Samsung Electronics Co, Ltd
12.14 Omron adept technologies Inc.
12.15 Gecko systems
12.16 Honda motor company Ltd
12.17 Rethink robotics
12.18 Bluefin robotics
12.19 Amazon.com Inc.
12.20 Hanson robotics
13 Market Insights
13.1 Insights of Industry Experts
13.2 Analyst Opinion (Market Understanding)
13.3 Investment Opportunities
14 Appendix
14.1 List of Tables
14.2 List of Figures
- Competitive Analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors.
- Monitoring the external and internal factors which affect the market dynamics with the aid of PESTLE analysis.
- The Regional and Global Variety is taken care of in the report.
- Year on Year basis generation of revenue is studied.
- Porter's Five Forces analyze the intensity of competition in an industry and its profitability level.
- The overview and the sustainability of the market are analyzed through SWOT.
- DROC (Drivers, Restraints, Opportunities and Challenges) is recognized in the current market scenario and see how its effect on market dynamics.
- The segment-level analysis in terms of type and technology.
- The value chain analysis, value that's created and captured by a company is the profit margin.
- Value Created and Captured – Cost of Creating that Value = Margin
- An executive summary consists of the whole report and the outcome is been given in the report to have brief knowledge about the report.
- Basis on the depth of the study we approach using analytical tools
- Expertise investment opportunities are given after analyzing the market to give the organization and the individual to have perfect knowledge about the market.
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Additional information
Report Type | Extensive Report, Miniature report, Snapshot Report |
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A robot is a machine, which is capable of carrying out of complex actions automatically and can be controlled by humans. Smart robots are those, which are capable of handling the things and processes with ease and with no time under critical circumstances. Availability of affordable and energy efficient robots with growing adoption of these robots in various industries are driving the market growth.
Global Smart Robots Market Segments Size & Growth:
Global smart robots market is valued at $4.94 Billion in 2018 and is expected to reach around $15.29 Billion by 2024 at a CAGR of 23.10%. The accelerating factors of smart robots market include the high requirement for automation, emerging technological advancements in the field of robotics, increase in investments towards industrial automation, availability of affordable & energy efficient tools and increase in investments in R & D activities are majorly driving the market. However, high initial investment and installation cost along with safety concerns due to complex high-level interfacing.
Global Smart Robots Market Segments Share:
Global smart robots market share by a component is segmented into software and hardware. Among which equipment is sub-segmented into sensors, actuators, power source, control systems and others. Smart robot market by software is dominating the market and growing at a higher CAGR over the forecast period. Technological advancements, which lead to the complexities of features such as connectivity, artificial intelligence, which is increasing the overall market value in smart robots market.
Smart robots by type are classified into articulated robots, Cartesian robots, Scara robots, cylindrical robots and others. Among which articulated robots are accounting for the significant share in the market owing to their increased usage of these robots in various sectors such as packaging, healthcare and others in emerging economies. These articulated robots can range from simple two-jointed structures to systems with 10 or more interacting robots. However, cylindrical robots have sustainable growth rates in APAC region due to their applications in various industries.
Smart robots by Functionality is categorised into soldering & welding, material handling, assembling & disassembling, painting & dispensing and others (milling, cutting and processing). Among which material handling is holding the most significant revenue as it is utilised under various purposes in various industries, which are used for the administration of the materials to carry out the industrial operations including storage, picking and placing and some other activities.
Smart robots are majorly utilised under various applications such as service robots, industrial robots, commercial robots, professional robots, personal robots and others. Professional robots segment is expected to dominate the market with higher CAGR value as there is a high demand for these robots in defence and security and marine sectors. Service robots are also growing with a higher growth rate, as the usage of these robots is primary in private and educational institutes.
End-user industries in smart robot market include defence and security, medical, marine, food & beverages, automotive, logistics and others. The automotive industry has the share of around 54.5% of overall smart robots market. Adoption of IOT and big data in these applications will increase the efficiency and enhance the safety, which is driving the intelligent robots market in this industry.
Geographical analysis of smart robots market under various regions North America, Asia-Pacific, Europe, South America and the Middle East and Africa in which Asia-Pacific is experiencing the inclination in development owing to the penetration of emerging economies such as China and India. This region is noticed to be the fastest growing region in the market. Americas accounted for the most significant share in the market owing to the adoption of smart robots in industries and high demand for these robots in the market is driving the market in this region.
Industrial Robotics Company in Germany is working on consumer robots, which are used as personal robots and are transforming into interactive connected ply devices that have virtually limitless possibilities. Adoption of industrial robots in France and prevalence of more and more robotic technology in Germany is driving the smart robots market in this region.
North America is the most significant market for smart robots and is driven by rapid commercialisation and progress of their manufacturing industry. Higher adoption of intelligent robots with advanced technologies is majorly driving the market in this region.
Argentina offers smart agro-technologies that are automation and robotics to spray the crops or for low-cost urban agriculture. This newer adoption of these robotic technologies in agriculture sector is majorly driving the market in this region.
Global Smart Robots Market Trends:
- Growth in the deployment of smart robots in the education sector.
- New technologies such as Artificial intelligence is penetrating into the world of robotics.
- KUKA robotics to present plastic processing robotics.
Global Smart Robots Market Research Report includes:
An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.
Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
Identifying DROC in the current market and their impact in altering the market dynamics.
Competitive landscape analysis to identify the mergers and acquisitions, which will have a comparative financial study with significant competitors.
Expertise investment opportunities by the analyst to the individual and organisation to have the better foothold in the market.
The major market players are
- ABB Ltd
- Daihen Corporation
- Denso Corporation
- Fanuc Corporation
- Kawasaki heavy industries Ltd
- KUKA Robotics Corporation
Along with these companies, there were many other companies considered/cited in the report while analysing the global smart robots market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.”
1 Introduction
1.1 Executive Summary
1.2 Market Definition
1.3 Scope of the Study
2 Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Analytic Tools and Model
2.4 Economic Indicator
2.4.1 Base Year, Base Currency, Forecasting Period
2.5 Expert Validation
2.6 Study Timeline
3 Market Analysis
3.1 Industry Value Chain Analysis
3.2 Porter’s Five Analysis
3.2.1 Bargaining Power of Buyers
3.2.2 Bargaining Power of Suppliers
3.2.3 Threats of Substitutes
3.2.4 Threats of New Entrants
3.2.5 Industry Rivalry
3.3 PESTLE Analysis
3.3.1 Political
3.3.2 Economical
3.3.3 Social
3.3.4 Technological
3.3.5 Legal
3.3.6 Environmental
3.4 SWOT Analysis
3.4.1 Strengths
3.4.2 Weakness
3.4.3 Opportunities
3.4.4 Threats
3.5 Y-O-Y Analyses
4 Market Dynamics
4.1 Drivers
4.1.1 High requirement for automation.
4.1.2 Emerging technological advancements in the field of robotics.
4.1.3 High labour cost & dearth of the skilled human workforce.
4.1.4 Availability of affordable & energy efficient robots.
4.1.5 Increase in investments in R & D activities.
4.1.6 Increase in investments towards industrial automation.
4.1.7 Growing adoption of autonomous robots for professional services.
4.2 Restraints & Challenges
4.2.1 High initial investment and installation cost.
4.2.2. Safety concerns due to complex high-level interfacing.
4.3 Opportunities
4.3.1 Increase in Application areas.
4.3.2 Rise in demand for personal services.
4.3.3 Growth in emerging economies.
4.3.4 Huge potential in developing countries.
4.3.5 Adoption of IOT on a broad level.
5 Global Smart Robots Market – By Component
5.1 Introduction
5.2 Software
5.3 Hardware
5.3.1 Sensors
5.3.2 Power sources
5.3.3 Actuators
5.3.4 Control systems
5.3.5 Others
6 Global Smart Robots Market – By Type
6.1 Articulated robots
6.2 Cartesian robots
6.3 Scara robots
6.4 Cylindrical robots
6.5 Others
7 Global Smart Robots Market – By Function
7.1 Soldering & welding
7.2 Material handling
7.3 Assembling and dissembling
7.4 Painting and dispensing
7.5 Milling, cutting and processing
7.6 Others
8 Global Smart Robots Market – By Application
8.1 Service robots
8.2 Industrial robots
8.3 Commercial robots
8.4 Professional robots
8.5 Personal robots
8.6 Others (Entertainment)
9 Global Smart Robots Market – By End-user
9.1 Automotive
9.2 Healthcare
9.3 Defense & security
9.4 Food & beverages
9.5 Logistics
9.6 Marine
9.7 Others
10 Global Smart Robots Market – By Geography
10.1 North America
10.1.1 U.S.
10.1.2 Canada
10.1.3 Mexico
10.2 Europe
10.2.1 U.K
10.2.2 Germany
10.2.3 France
10.2.4 Italy
10.2.5 Spain
10.2.6 Others
10.3 Asia-pacific
10.3.1 China
10.3.2 Japan
10.3.3 India
10.3.4 Australia & New Zealand
10.3.5 South Korea
10.4 South America
10.4.1 Brazil
10.4.2 Argentina
10.4.3 Others
10.5 The Middle East and Africa
10.5.1 Middle East
10.5.2 Africa
10.5.3 Others
11 Global Smart Robots Market – Competitive Landscape
11.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
11.2 Market Share Analysis
11.3 Strategies Adopted By Top Companies
12 Global Smart Robots Market – Company Profiles
12.1 ABB Ltd
12.2 Daihen Corporation
12.3 Denso Corporation
12.4 Fanuc Corporation
12.5 Kawasaki heavy industries Ltd
12.6 KUKA Robotics Corporation
12.7 Mitsubishi Electric Corporation
12.8 Panasonic Corporation
12.9 Nachi-Fujikoshi Corporation
12.10 Seiko Epson Corporation
12.11 Universal robots
12.12 Yaskawa electric Corporation
12.13 Samsung Electronics Co, Ltd
12.14 Omron adept technologies Inc.
12.15 Gecko systems
12.16 Honda motor company Ltd
12.17 Rethink robotics
12.18 Bluefin robotics
12.19 Amazon.com Inc.
12.20 Hanson robotics
13 Market Insights
13.1 Insights of Industry Experts
13.2 Analyst Opinion (Market Understanding)
13.3 Investment Opportunities
14 Appendix
14.1 List of Tables
14.2 List of Figures
- Competitive Analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors.
- Monitoring the external and internal factors which affect the market dynamics with the aid of PESTLE analysis.
- The Regional and Global Variety is taken care of in the report.
- Year on Year basis generation of revenue is studied.
- Porter's Five Forces analyze the intensity of competition in an industry and its profitability level.
- The overview and the sustainability of the market are analyzed through SWOT.
- DROC (Drivers, Restraints, Opportunities and Challenges) is recognized in the current market scenario and see how its effect on market dynamics.
- The segment-level analysis in terms of type and technology.
- The value chain analysis, value that's created and captured by a company is the profit margin.
- Value Created and Captured – Cost of Creating that Value = Margin
- An executive summary consists of the whole report and the outcome is been given in the report to have brief knowledge about the report.
- Basis on the depth of the study we approach using analytical tools
- Expertise investment opportunities are given after analyzing the market to give the organization and the individual to have perfect knowledge about the market.
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