Beyond Automation: The Influence of Innovation and Technology Optimization on Smart Robot Market Dynamics
Increase in field of automation and robotic advancement for connected world and capability of robots to identify the breakdowns in the industry fuel the growth
WILMINGTON, DELAWARE , UNITED STATES, February 19, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, Smart Robot Market Size, Share, Competitive Landscape and Trend Analysis Report by Component (Hardware and Software), Application (Welding & Painting, Assembling & Disassembling, Mobility, Inspection & Security and Others), Industry Vertical (Automotive, Manufacturing, Electrical & Electronic, Food & Beverage, Chemical, Residential, and Others) – Global Opportunity Analysis and Industry Forecast, 2018-2025
The global smart robot market is expected to value at $4,057 million in 2017, and is projected to reach $17,561 million by 2025, registering a CAGR of 19.6% from 2018 to 2025. At present, North America dominates the market, followed by Europe. In 2017, the U.S. is expected to remain dominant in the North America market, while Germany is projected to lead the overall market in Europe.
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Smart robot is a reprogrammable, multifunctional manipulator designed to move material, parts, tools, or specialized devices through various programmed motions for the performance of a variety of tasks. Autonomous robot uses coding algorithm to perform a specified operation and changes its working in accordance with the changes made in the programming. By use of advanced technology, a smart robot can help people overcome daily obstacles or to teach children, and are majorly used in the industry vertical applications. Some smart robots can replace jobs where human interaction is difficult such as industrial welding, investigation of volcanoes, underwater exploration, and deep space exploration. For specific movements in the operation such as assembling and spot welding, many robots use the pneumatic or air pressure pistons in particular directions.
The increase in field of automation, the rise in demand for robotic advancement for connected world and capability of robots to identify the breakdowns in the industry fuel the growth of the market. In addition, strong government initiative for the factory automation also contribute to the market growth. However, higher manufacturing cost and insecurities regarding the robots hamper this stated growth.
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Research Methodology:
The global smart robot industry was thoroughly researched through a comprehensive approach combining primary and secondary research methodologies. Secondary research provided a broad overview of goods and services, whereas primary research delved deeper into the various factors driving the market. To obtain comprehensive insights into the industry, a meticulous search was undertaken utilizing various sources such as press releases, specialized business periodicals, and government websites. This meticulous research methodology has provided a unique and extensive insight into the global smart robot market.
Segmental Analysis:
The global smart robot market is analyzed across type, configuration, application, industry vertical, and region. Based on component, the hardware segment generated the highest revenue in the smart robot market in 2017, and is expected to remain dominant during the forecast period. In addition, based on application, the assembling & disassembling segment generated the highest revenue followed by welding & painting and mobility.
Based on industry vertical, the automotive industry accounted for the majority market share of the smart robot market followed by the manufacturing industry.
Geographical analysis is a key focus, evaluating market performance across regions such as North America (United States, Canada, and Mexico), Europe (Germany, France, UK, Russia, and Italy), Asia-Pacific (China, Japan, Korea, India, and Southeast Asia), South America (Brazil, Argentina, Colombia), and the Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa) for a thorough understanding of smart robot market penetration.
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Key Market Players & Competitive Insights:
The key players profiled in the report include ABB, iRobot Corporation, Grey orange Pte Ltd., Epson America, Inc., Rethink Robotics, KuKa, F&P Personal Robotics, SoftBank Robotics, Yaskawa Electric, and Fanuc. Market players have adopted various strategies such as product launch, collaboration, partnership, joint venture, and acquisition to expand their foothold in the global smart robot market.
The global smart robot market report also discusses the top industry players in the market. It provides detailed information on companies, operational divisions, business performance, and strategic initiatives, such as collaborations, mergers and acquisitions, partnerships, etc., to enhance their market presence and achieve growth. Moreover, the report highlights the significant progress made by the leading players. This section of the report offers a comprehensive evaluation of the competitive landscape in the market and gives insights into the level of competition prevailing within it. Furthermore, it showcases the strategies employed by the top vendors to boost sales and promote their services.
Key Benefits for Stakeholders:
➡️ This study comprises analytical depiction of the smart robot market size along with the current trends and future estimations to depict the imminent investment pockets.
➡️ The overall smart robot market analysis is determined to understand the profitable trends to gain a stronger foothold.
➡️ The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
➡️ The current market forecast is quantitatively analyzed from 2018 to 2025 to benchmark the financial competency
➡️ Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the market.
➡️ The report includes the market share of key vendors and smart robot market trends.
David Correa
Allied Market Research
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