Smart Robot Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Smart Robot Market
The smart robot market size was valued at USD 5.98 billion in 2019, and the market is now projected to grow USD 31.11 billion in 2027 exhibiting a CAGR of 23.1% during the forecast period of 2020-2027.
The outbreak of COVID-19 around the globe has changed people’s interactions and work-related processes and turned intelligent robots into means to replace human workers because of social distancing. Since these measures could stretch into 2021, the need for robot employees also increases. The current pandemic has enhanced the health consciousness of consumers, and therefore are willing to use more of automation. This shift comes with great opportunities for robotics in different industries such as in the healthcare industry and manufacturing. Thus, the market for robotics will expand as incorporation of automation is now seen to solve challenges related to post-pandemic conditions.
Traditional industrial robots are already becoming important enablers in various applications as many developers begin the process of applying robotics technology to new domains. The healthcare segment is also likely to be the largest, with robotics being already widely used in invasive surgeries. Now, robots are employed in comparatively minor operations such as urological and gynecological, but they are set to get involved in more serious operations. It means that future evolutions in robotics will increase exactness and efficacy for healthcare purposes. They jointly opined that advancement will take robotics into operating theaters as a natural and important part of advancing medical therapies and operations.
The use of robots in manufacturing and production factories has been on the rise because human beings need help in executing dangerous or tedious tasks with less danger and time. Whenever robots are used, they eliminate the need for people especially in some of the working phases thereby minimizing the cost aspect associated with people. Korea remained the global leader in the number of installed new industrial robots in 2017, followed by China, with 710 robots deployed per ten thousand laborers. Singapore only behind South Korea in second place with 658 robots for every 10,000 human workers. This trend envisages the use of robots in production processes to increase efficiency and work productivity, and to lessen the occurrence of risky events.
Comprehensive Analysis of Smart Robot Market
The smart robot market growth is rising at an exponential rate due to its market segmentation. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by type analysis, by mobility analysis, by application analysis and by end-use analysis. By type analysis includes personal or domestic robots and professional robots. By mobility analysis includes mobile and fixed or stationary robots. By application analysis includes inspection and maintenance, material handling and sorting, security and surveillance, education and entertainment, sanitation and disinfection, and others. By end-use analysis includes manufacturing, healthcare, agriculture, military and defense, logistics and warehouse, education and entertainment, and others.
The Asia Pacific region lead the smart robot market share by benefitting a market size of USD 2.41 billion in 2019 due to its technological advancements.
The top players in the markets have a central responsibility in the information & communication technology industry to be sure of industrial prospectus development and to establish the market norms. These players include, SoftBank Corp, GeckoSystems Intl. Corp., Aethon, Inc., Neato Robotics, Inc., Samsung Electronics Co., Ltd, ABB Ltd, KUKA Aktiengesellschaft, FANUC CORPORATION, Hanson Robotics Limited, YASKAWA ELECTRIC CORPORATION, BLUE FROG ROBOTICS SAS, Kongsberg Gruppen ASA, Universal Robots A/S, ECA GROUP, iRobot Corporation, DeLaval Inc., Intuitive Surgical, Inc., Rethink Robotics GmbH, and Honda Motor Co., Ltd these market players provide a level-playing competitive landscape.
In October 2020, ABB, LTD. acquired Codian Robotics B.V., a Netherlands-based delta robots manufacturer, to accelerate its engagement in the delta robots application area.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2016–2027
Base Year 2019
Forecast Period 2020–2027
Historical Period 2016– 2018
Unit Value (USD billion)
Segmentation Type; Mobility; Application; End-User and Region
By Type
Personal/Domestic Robots
Professional Robots
By Mobility
Mobile
Fixed/Stationary
By Application
Inspection and Maintenance
Material Handling and Sorting
Security and Surveillance
Education and Entertainment
Sanitation and Disinfection
Others
By End-User
Manufacturing
Healthcare
Agriculture
Military and Defense
Logistics and Warehouse
Education and Entertainment
Others
By Region
North America (Type; Mobility; Application; End-User; and Country)
The U.S. (By Application)
Canada (By Application)
Mexico (By Application)
South America (Type; Mobility; Application; End-User; and Country)
Brazil (By Application)
Argentina (By Application)
Rest of South Africa
Europe (Type; Mobility; Application; End-User; and Country)
The U.K.(By Application)
Germany (By Application)
France (By Application)
Italy (By Application)
Spain (By Application)
Russia (By Application)
Benelux (By Application)
Nordics (By Application)
Rest of Europe
Middle East & Africa (Type; Mobility; Application; End-User; and Country)
Turkey (By Application)
Israel (By Application)
GCC (By Application)
North Africa (By Application)
South Africa (By Application)
Rest of MEA
Asia Pacific (Type; Mobility; Application; End-User; and Country)
China (By Application)
India (By Application)
Japan (By Application)
South Korea (By Application)
ASEAN (By Application)
Oceania (By Application)
Rest of Asia-Pacific
- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Key Takeaways
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 3.3. Impact of COVID-19
- 3.3.1. Short-term Impact
- 3.3.2. Long-term Impact
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. PESTLE Analysis
- 4.4. Porter’s Five Force Analysis
- 4.5. Ecosystem Analysis
- 4.6. Global Market Share Analysis and Matrix, 2019
- 5. Key Market Insights and Strategic Recommendations
- 6. Profiles of Key Players (Would be provided for 10 players only)
- 6.1. Overview
- 6.1.1. Key Management
- 6.1.2. Headquarters etc
- 6.2. Offerings/Business Segments
- 6.3. Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- 6.3.1. Employee Size
- 6.3.2. Key Financials
- 6.3.2.1. Past and Current Revenue
- 6.3.2.2. Gross Margin
- 6.3.2.3. Geographical Share
- 6.3.2.4. Business Segment Share
- 6.4. Recent Developments
- 7. Primary Interview Responses
- 8. Annexure / Appendix
- 8.1. Global Smart Robot Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- 8.1.1. By Type (Value)
- 8.1.1.1. Personal/Domestic Robots
- 8.1.1.2. Professional Robots
- 8.1.2. By Mobility (Value)
- 8.1.2.1. Mobile
- 8.1.2.2. Fixed/Stationary
- 8.1.3. By Application (Value)
- 8.1.3.1. Inspection and Maintenance
- 8.1.3.2. Material Handling and Sorting
- 8.1.3.3. Security and Surveillance
- 8.1.3.4. Education and Entertainment
- 8.1.3.5. Sanitation and Disinfection
- 8.1.3.6. Others
- 8.1.4. By End-User (Value)
- 8.1.4.1. Manufacturing
- 8.1.4.2. Healthcare
- 8.1.4.3. Agriculture
- 8.1.4.4. Military and Defense
- 8.1.4.5. Logistics and Warehouse
- 8.1.4.6. Education and Entertainment
- 8.1.4.7. Others
- 8.1.5. By Region (Value)
- 8.1.5.1. North America
- 8.1.5.2. South America
- 8.1.5.3. Europe
- 8.1.5.4. Middle East & Africa
- 8.1.5.5. Asia Pacific
- 8.2. North America Smart Robot Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- 8.2.1. By Type (Value)
- 8.2.1.1. Personal/Domestic Robots
- 8.2.1.2. Professional Robots
- 8.2.2. By Mobility (Value)
- 8.2.2.1. Mobile
- 8.2.2.2. Fixed/Stationary
- 8.2.3. By Application (Value)
- 8.2.3.1. Inspection and Maintenance
- 8.2.3.2. Material Handling and Sorting
- 8.2.3.3. Security and Surveillance
- 8.2.3.4. Education and Entertainment
- 8.2.3.5. Sanitation and Disinfection
- 8.2.3.6. Others
- 8.2.4. By End-User (Value)
- 8.2.4.1. Manufacturing
- 8.2.4.2. Healthcare
- 8.2.4.3. Agriculture
- 8.2.4.4. Military and Defense
- 8.2.4.5. Logistics and Warehouse
- 8.2.4.6. Education and Entertainment
- 8.2.4.7. Others
- 8.2.5. By Country (Value)
- 8.2.5.1. The U.S. (By Application)
- 8.2.5.2. Canada (By Application )
- 8.2.5.3. Mexico (By Application)
- 8.3. South America Smart Robot Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- 8.3.1. By Type (Value)
- 8.3.1.1. Personal/Domestic Robots
- 8.3.1.2. Professional Robots
- 8.3.2. By Mobility (Value)
- 8.3.2.1. Mobile
- 8.3.2.2. Fixed/Stationary
- 8.3.3. By Application (Value)
- 8.3.3.1. Inspection and Maintenance
- 8.3.3.2. Material Handling and Sorting
- 8.3.3.3. Security and Surveillance
- 8.3.3.4. Education and Entertainment
- 8.3.3.5. Sanitation and Disinfection
- 8.3.3.6. Others
- 8.3.4. By End-User (Value)
- 8.3.4.1. Manufacturing
- 8.3.4.2. Healthcare
- 8.3.4.3. Agriculture
- 8.3.4.4. Military and Defense
- 8.3.4.5. Logistics and Warehouse
- 8.3.4.6. Education and Entertainment
- 8.3.4.7. Others
- 8.3.5. By Country (Value)
- 8.3.5.1. Brazil (By Application)
- 8.3.5.2. Argentina (By Application)
- 8.3.5.3. Rest of South Africa
- 8.4. Europe Smart Robot Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- 8.4.1. By Type (Value)
- 8.4.1.1. Personal/Domestic Robots
- 8.4.1.2. Professional Robots
- 8.4.2. By Mobility (Value)
- 8.4.2.1. Mobile
- 8.4.2.2. Fixed/Stationary
- 8.4.3. By Application (Value)
- 8.4.3.1. Inspection and Maintenance
- 8.4.3.2. Material Handling and Sorting
- 8.4.3.3. Security and Surveillance
- 8.4.3.4. Education and Entertainment
- 8.4.3.5. Sanitation and Disinfection
- 8.4.3.6. Others
- 8.4.4. By End-User (Value)
- 8.4.4.1. Manufacturing
- 8.4.4.2. Healthcare
- 8.4.4.3. Agriculture
- 8.4.4.4. Military and Defense
- 8.4.4.5. Logistics and Warehouse
- 8.4.4.6. Education and Entertainment
- 8.4.4.7. Others
- 8.4.5. By Country (Value)
- 8.4.5.1. The U.K.(By Application)
- 8.4.5.2. Germany (By Application)
- 8.4.5.3. France (By Application)
- 8.4.5.4. Italy (By Application)
- 8.4.5.5. Spain (By Application)
- 8.4.5.6. Russia (By Application)
- 8.4.5.7. Benelux (By Application)
- 8.4.5.8. Nordics (By Application)
- 8.4.5.9. Rest of Europe
- 8.5. Middle East & Africa Smart Robot Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- 8.5.1. By Type (Value)
- 8.5.1.1. Personal/Domestic Robots
- 8.5.1.2. Professional Robots
- 8.5.2. By Mobility (Value)
- 8.5.2.1. Mobile
- 8.5.2.2. Fixed/Stationary
- 8.5.3. By Application (Value)
- 8.5.3.1. Inspection and Maintenance
- 8.5.3.2. Material Handling and Sorting
- 8.5.3.3. Security and Surveillance
- 8.5.3.4. Education and Entertainment
- 8.5.3.5. Sanitation and Disinfection
- 8.5.3.6. Others
- 8.5.4. By End-User (Value)
- 8.5.4.1. Manufacturing
- 8.5.4.2. Healthcare
- 8.5.4.3. Agriculture
- 8.5.4.4. Military and Defense
- 8.5.4.5. Logistics and Warehouse
- 8.5.4.6. Education and Entertainment
- 8.5.4.7. Others
- 8.5.5. By Country (Value)
- 8.5.5.1. Turkey (By Application)
- 8.5.5.2. Israel (By Application)
- 8.5.5.3. GCC (By Application)
- 8.5.5.4. North Africa (By Application)
- 8.5.5.5. South Africa (By Application)
- 8.5.5.6. Rest of MEA
- 8.6. Asia Pacific Smart Robot Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- 8.6.1. By Type (Value)
- 8.6.1.1. Personal/Domestic Robots
- 8.6.1.2. Professional Robots
- 8.6.2. By Mobility (Value)
- 8.6.2.1. Mobile
- 8.6.2.2. Fixed/Stationary
- 8.6.3. By Application (Value)
- 8.6.3.1. Inspection and Maintenance
- 8.6.3.2. Material Handling and Sorting
- 8.6.3.3. Security and Surveillance
- 8.6.3.4. Education and Entertainment
- 8.6.3.5. Sanitation and Disinfection
- 8.6.3.6. Others
- 8.6.4. By End-User (Value)
- 8.6.4.1. Manufacturing
- 8.6.4.2. Healthcare
- 8.6.4.3. Agriculture
- 8.6.4.4. Military and Defense
- 8.6.4.5. Logistics and Warehouse
- 8.6.4.6. Education and Entertainment
- 8.6.4.7. Others
- 8.6.5. By Country (Value)
- 8.6.5.1. China (By Application)
- 8.6.5.2. India (By Application)
- 8.6.5.3. Japan (By Application)
- 8.6.5.4. South Korea (By Application)
- 8.6.5.5. ASEAN (By Application)
- 8.6.5.6. Oceania (By Application)
- 8.6.5.7. Rest of Asia-Pacific
- 9. Companies Analyzed (In order to estimate the market size and/or understanding the market ecosystem) (Note that the purpose of the below list is to highlight the exhaustiveness of coverage. Only top 10 players are profiled in the scope. Additionally, we are open to profile additional company(s) on specific request)
- 9.1. SoftBank Corp
- 9.2. GeckoSystems Intl. Corp.
- 9.3. Aethon, Inc.
- 9.4. Neato Robotics, Inc.
- 9.5. Samsung Electronics Co., Ltd
- 9.6. ABB Ltd
- 9.7. KUKA Aktiengesellschaft
- 9.8. FANUC CORPORATION
- 9.9. Hanson Robotics Limited
- 9.10. YASKAWA ELECTRIC CORPORATION
- 9.11. BLUE FROG ROBOTICS SAS
- 9.12. Kongsberg Gruppen ASA
- 9.13. Universal Robots A/S
- 9.14. ECA GROUP
- 9.15. iRobot Corporation
- 9.16. DeLaval Inc.
- 9.17. Intuitive Surgical, Inc
- 9.18. Rethink Robotics GmbH
- 9.19. Honda Motor Co., Ltd.
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