Global Smart Robot Market 2018-2023 - Opportunities and Challenges - Market to Reach $14.3 Billion Growing at a CAGR of 23.7% - ResearchAndMarkets.com

DUBLIN--()--The "Smart Robot Market by Component (Hardware and Software), Industrial Application (Automotive, Electronics, and Food & Beverages), Personal Service Application, Professional Service Application, and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The smart robot market is valued at USD 4.94 Billion in 2018 and is estimated to reach USD 14.29 Billion by 2023, at a CAGR of 23.7% between 2018 and 2023.

The smart robot market is mainly driven by the factors such as growing adoption of autonomous robots for professional services, emerging technological advancements in the field of robotics, increasing investments toward industrial automation, and growing government aid for R&D of AI-enabled robots.

The smart robot market is segmented on the basis of components into hardware and software. The hardware component is subsegmented into sensor, actuator, power source, control system/controller, and others. The other components include body material and other electronic, electrical, and mechanical components.

The smart robot market for software is expected to grow at a higher CAGR during the forecast period. As technological advancements will lead to the growing complexity in terms of features such as inter-device connectivity, artificial intelligence (AI), and autonomous operations, the software segment is likely to get more importance than that of the hardware segment in the overall smart robot market as software will assist the complex functionalities to process efficiently and accurately.

Market Dynamics

Drivers

  • Growing Adoption of Autonomous Robots for Professional Services
  • Emerging Technological Advancements in the Field of Robotics
  • Increasing Investments Toward Industrial Automation
  • Growing Government Aid for R&D of AI-Enabled Robots

Restraints

  • High Initial R&D Expenditure

Opportunities

  • Rise in Demand for Personal Services
  • Adoption of IoT on Wide Level
  • Huge Potential in Developing Countries

Challenges

  • Safety Concerns Due to Complex High-Level Interfacing

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Smart Robot Market, by Component

7 Smart Robot Market, by Industrial Application

8 Smart Robot Market, by Service Application

9 Smart Robot Market, by Region

10 Competitive Landscape

11 Company Profiles

  • ABB
  • Aethon
  • Amazon
  • Anki
  • Blue Frog Robotics
  • Bluefin Robotics
  • Delaval
  • ECA
  • Fanuc
  • Geckosystems
  • Hanson Robotics
  • Honda Motor
  • Intuitive Surgical
  • iRobot
  • Kuka
  • Omron Adept Technologies
  • Rethink Robotics
  • Samsung Electronics
  • Softbank
  • Yaskawa Electric

For more information about this report visit https://www.researchandmarkets.com/research/63q6z7/global_smart?w=4

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
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For GMT Office Hours Call +353-1-416-8900
Related Topics: Robotics, Industrial Automation , Consumer Services

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Robotics, Industrial Automation , Consumer Services