Smart Robots Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

A smart robot is meant to perform a variety of tasks without the need for human intervention. A smart robot is controlled by an artificial intelligence (AI) system that can learn from its surroundings and experiences. Smart robots can collaborate, cooperate, and learn from human behavior. The rise in industrial automation, advancement of robotics for a connected and digital world, and strong government investment for automation solutions are expected to boost smart robots market.

MARKET SCOPE

The "Global Smart robots Market Analysis to 2031" is a specialized and in-depth study of the Smart robots Market with a special focus on the global market trend analysis. The report aims to provide an overview of smart robots market with detailed market segmentation by component, application and industry vertical. The global smart robots market expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading smart robots market player and offers key trends and opportunities in the smart robots market.

MARKET SEGMENTATION

  Based on component the market is bifurcated as, hardware and software.

  Based on application the market is segmented as, welding and painting, assembling and disassembling, inspection and security, mobility and others.

  Further, on the basis of industry vertical the market is segmented as, automotive, manufacturing, electrical and electronic, food and beverage, chemical, others.

MARKET DYNAMICS

Drivers

•   The rise in industrial automation, advancement of robotics for a connected and digital world, and strong government investment for automation solutions.
  
•   Rise in developments of smart homes, increase in concern of workplace safety is likely to propel market growth forward during the forecast period.
  
•   Increasing integration of IoT in robots is expected to boost market growth.
  
•   Technological advancements.
  

Restraints

•   The smart robots market is restrained by factors such as, high cost of robots and data privacy concerns.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global smart robots market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The smart robots market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting smart robots Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the smart robots market in these regions.

IMPACT OF COVID-19 ON SMART ROBOTS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The reports cover key developments in the smart robots market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from smart robots market are anticipated to lucrative growth opportunities in the future with the rising demand for smart robots market. Below mentioned is the list of few companies engaged in the smart robots market.

The report also includes the profiles of key smart robots market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

•   iRobot
  
•   Hanson Robotics
  
•   YASKAWA
  
•   Omron Corporation
  
•   Aethon Inc.
  
•   Bluefin Robotics
  
•   Intuitive Surgical
  
•   Rethink Robotics
  
•   Locus Robotics
  
•   Epson America, Inc
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Smart Robots Report Scope

Report Attribute	Details
Market size in 2023	US$ XX Million
Market Size by 2031	US$ XX Million
Global CAGR (2023 - 2031)	XX%
Historical Data	2021-2022
Forecast period	2024-2031
Segments Covered	By Component Hardware Software By Application Welding and painting Assembling and disassembling Inspection and Security Mobility By Industry Vertical Automotive Manufacturing Electrical and Electronic Food and Beverage Chemical Residential
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	iRobot Hanson Robotics YASKAWA Omron Corporation Aethon Inc. Bluefin Robotics Intuitive Surgical Rethink Robotics Locus Robotics