Global Smart Robot Market Size study & Forecast, by Component (Hardware and Software), by Application (Welding & Painting, Assembling & Disassembling, Mobility, Inspection & Security and Others), by Industry Vertical (Automotive, Manufacturing, Electrical

Global Smart Robot Market Size study & Forecast, by Component (Hardware and Software), by Application (Welding & Painting, Assembling & Disassembling, Mobility, Inspection & Security and Others), by Industry Vertical (Automotive, Manufacturing, Electrical & Electronic, Food & Beverage, Chemical, Residential, and Others) and Regional Analysis, 2023-2030

Global Smart Robot Market is valued at approximately USD billion xxx in 2022 and is anticipated to grow with a healthy growth rate of more than xxx% over the forecast period 2023-2030. Smart robots are advanced AI systems that possess the ability to learn from their surroundings, adapt their knowledge, and apply their skills accordingly. They find applications in scientific research, industrial settings, and even personal use. smart robots are specifically engineered to meet the demands of industrial applications. The Smart Robot market is expanding because of factors such as the rising integration of IoT Internet of Things and growing industrial automation. Moreover, the adoption of IoT in robots for predictive maintenance resulted in substantial reductions in maintenance costs and downtime. Its prevalence has importance increased during the forecast period of 2023-2030.

According to Statista in 2022, The global count of Internet of Things (IoT) devices is projected to nearly triple, reaching over 29 billion by 2030 from 9.7 billion in 2020. By 2030, China is expected to have the largest number of IoT devices, with approximately 5 billion devices catering to consumer markets. IoT devices find applications across various industry verticals and consumer sectors, with the consumer segment representing approximately 60% of all connected IoT devices in 2020. The expansion of the smart robot market is propelled by the increasing adoption of industrial automation. Industries such as manufacturing and automobile are swiftly embracing automation, resulting in a higher demand for smart robots. According to Statista in 2020, The global industrial automation market was valued at around USD 175 billion and is expected to grow at a compound annual growth rate of approximately 9% until 2025.In addition, the rising demand of smart homes and increasing technological advancements in robotic process automation would create a lucrative growth opportunity for the market. However, data privacy concerns and stringent regulations stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Smart Robot Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market during the forecast period owing to the, advanced technologies, strong investment in research and development. Moreover, numerous hospitals are embracing the use of surgical robots and the presence of technologically advanced and intelligent robots contributes to the growth of the service robotics market in the region. Asia Pacific is the fastest growing region during the forecast period owing to the factors such as the rising adoption of robots and the growing awareness of innovative manufacturing techniques and industrial automation in the region.

Major market player included in this report are:
Omron Adept Technology, Inc.
Intuitive Surgical, Inc.
Gecko Systems International Corporation
Neato Robotics, Inc.
SoftBank Group corp.
Honda Motor Co., Ltd.
Yaskawa Electric Corporation
Hanson Robotics Limited
Samsung Electronics Co., Ltd.
Asea Brown Boveri Ltd.

Recent Developments in the Market:
 In February 2023, Xiaomi announced its plans to launch the CyberOne and CyberDog robots, along with smartphones, at Mobile World Congress 2023. The CyberOne robot was a bipedal robot, while the CyberDog robot was a quadrupedal robot.

Global Smart Robot Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Component, Application, Industry Vertical, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Component:
Hardware
Software

By Application:
Welding & Painting
Assembling & Disassembling
Mobility
Inspection & Security
Others

By Industry Vertical:
Automotive
Manufacturing
Electrical & Electronic
Food & Beverage
Chemical
Residential
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Omron Adept Technology, Inc.
Intuitive Surgical, Inc.
Gecko Systems International Corporation
Neato Robotics, Inc.
SoftBank Group corp.
Honda Motor Co., Ltd.
Yaskawa Electric Corporation
Hanson Robotics Limited
Samsung Electronics Co., Ltd.
Asea Brown Boveri Ltd.

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