DUBLIN--(BUSINESS WIRE)--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.
- 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
- High Initial R&D Expenditure
- Rise in Demand for Personal Services
- Adoption of IoT on Wide Level
- Huge Potential in Developing Countries
- Safety Concerns Due to Complex High-Level Interfacing
Key Topics Covered:
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
- Blue Frog Robotics
- Bluefin Robotics
- Hanson Robotics
- Honda Motor
- Intuitive Surgical
- Omron Adept Technologies
- Rethink Robotics
- Samsung Electronics
- Yaskawa Electric
For more information about this report visit https://www.researchandmarkets.com/research/63q6z7/global_smart?w=4