Smart Robot Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global smart robot market size reached US$ 10.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 28.3 Billion by 2028, exhibiting a growth rate (CAGR) of 17.78% during 2022-2028.
Smart robots collaborate with humans and adapt their behavior according to experience for performing cognitive tasks and manual labor work. They are integrated with advanced technologies, such as artificial intelligence (AI), machine learning (ML), sensors, and deep learning (DL). They can digitally connect with a cloud platform to improve operational efficiency and agility of business processes. As a result, they are widely utilized in industrial settings to automate manufacturing processes and warehouse management systems.
Smart Robot Market Trends:
The emergence of the Fourth Industrial Revolution (Industry 4.0) and the growing trend of precision manufacturing are catalyzing the need to modify manufacturing facilities into connected factories. This represents one of the major factors driving the demand for smart robots as they can perform repetitive and less ergonomic tasks, which allows seamless sharing of information and increases product quality and productivity. Moreover, several retail stores are deploying in-store robots to recognize actions in real-time, assist operators, and reduce human errors. Apart from this, service-enabled robotics is gaining traction in the healthcare industry to assist complex surgeries, elderly care, assistive technologies, and patient care at home. This, coupled with the growing prevalence of chronic diseases, is positively influencing the demand for smart robots to aid people with cognitive, sensory, and motor impairments. Furthermore, as smart robotic vacuum cleaners are lightweight, small-in-size, and require low maintenance, they are extensively utilized for mopping, cleaning, and ultraviolet (UV) sterilization of residential and commercial spaces. This, in confluence with the outbreak of the coronavirus disease (COVID-19) and the growing emphasis of individuals on maintaining health and hygiene, is positively influencing the demand for smart robots to prevent the spread of the pandemic and create a safe workplace.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart robot market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, mobility, application and vertical.
Breakup by Component:
Hardware
Software
Services
Breakup by Mobility:
Stationary
Mobile
Breakup by Application:
Welding and Painting
Assembling and Disassembling
Material Handling and Sorting
Inspection and Security
Others
Breakup by Vertical:
Automotive
Manufacturing
Electrical and Electronics
Food and Beverages
Chemical
Residential
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., F&P Robotics AG, Fanuc Corporation, Hanson Robotics Limited, Honda Motor Co. Ltd, iRobot Corporation, KUKA AG (Midea Group), Neato Robotics Inc. (Vorwerk), Rethink Robotics GmbH, Samsung Electronics Co. Ltd., Seiko Epson Corporation, SoftBank Robotics Corp and Yaskawa Electric Corporation.
Key Questions Answered in This Report
1. How big is the global smart robot market?
2. What is the expected growth rate of the global smart robot market during 2023-2028?
3. What are the key factors driving the global smart robot market?
4. What has been the impact of COVID-19 on the global smart robot market?
5. What is the breakup of the global smart robot market based on the component?
6. What is the breakup of the global smart robot market based on the mobility?
7. What is the breakup of the global smart robot market based on the application?
8. What is the breakup of the global smart robot market based on the vertical?
9. What are the key regions in the global smart robot market?
10. Who are the key players/companies in the global smart robot market?
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Smart Robot Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
- 6 Market Breakup by Component
- 6.1 Hardware
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Software
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Services
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 7 Market Breakup by Mobility
- 7.1 Stationary
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Mobile
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 8 Market Breakup by Application
- 8.1 Welding and Painting
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Assembling and Disassembling
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Material Handling and Sorting
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Inspection and Security
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Others
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 9 Market Breakup by Vertical
- 9.1 Automotive
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Manufacturing
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Electrical and Electronics
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Food and Beverages
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
- 9.5 Chemical
- 9.5.1 Market Trends
- 9.5.2 Market Forecast
- 9.6 Residential
- 9.6.1 Market Trends
- 9.6.2 Market Forecast
- 9.7 Others
- 9.7.1 Market Trends
- 9.7.2 Market Forecast
- 10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.2 Asia-Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
- 11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
- 12 Value Chain Analysis
- 13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
- 14 Price Analysis
- 15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 ABB Ltd.
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.1.3 Financials
- 15.3.1.4 SWOT Analysis
- 15.3.2 F&P Robotics AG
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.3 Fanuc Corporation
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.3.3 Financials
- 15.3.3.4 SWOT Analysis
- 15.3.4 Hanson Robotics Limited
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.5 Honda Motor Co. Ltd
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.5.3 Financials
- 15.3.5.4 SWOT Analysis
- 15.3.6 iRobot Corporation
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.6.3 Financials
- 15.3.6.4 SWOT Analysis
- 15.3.7 KUKA AG (Midea Group)
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.7.3 Financials
- 15.3.7.4 SWOT Analysis
- 15.3.8 Neato Robotics Inc. (Vorwerk)
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.9 Rethink Robotics GmbH
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.10 Samsung Electronics Co. Ltd.
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.10.3 Financials
- 15.3.10.4 SWOT Analysis
- 15.3.11 Seiko Epson Corporation
- 15.3.11.1 Company Overview
- 15.3.11.2 Product Portfolio
- 15.3.11.3 Financials
- 15.3.11.4 SWOT Analysis
- 15.3.12 SoftBank Robotics Corp
- 15.3.12.1 Company Overview
- 15.3.12.2 Product Portfolio
- 15.3.13 Yaskawa Electric Corporation
- 15.3.13.1 Company Overview
- 15.3.13.2 Product Portfolio
- 15.3.13.3 Financials
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