According to the latest report by IMARC Group, titled, “Smart Robot Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, the global smart robot market reached a value of US$ XX Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2021-2026.

Smart robots are computerized reasoning (AI) systems integrated with modern technologies, such as artificial intelligence (AI), machine learning (ML), sensors, and deep learning (DL). They are capable of collaborating and adapting the behavior of humans to perform cognitive tasks and manual labor work. Consequently, they find extensive application in industrial settings to automate the manufacturing process.

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Market Trends

The rising adoption of autonomous robots for professional services, in confluence with new developments in robotics technologies, represents one of the key factors driving the market. Moreover, several retail stores are relying on in-store robots to recognize actions in real-time, assist operators, and reduce human errors. Besides this, there is a rise in the utilization of service-enabled robots in the healthcare industry to assist complex surgeries, testing, and diagnosis. This, coupled with the increasing prevalence of chronic diseases, is increasing the sales of smart robots as they assist people with cognitive, sensory, and motor impairments.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

ABB Ltd.
FP 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
Yaskawa Electric Corporation.

The report has segmented 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
Asia-Pacific
Europe
Latin America
Middle East and Africa

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