LONDON--(BUSINESS WIRE)--Technavio projects the global smart robots market to post a CAGR of close to 32% during the forecast period. The technological advances in smart robots will drive the growth of the market. Key vendors in the market are introducing smart robots to expand their offerings. Manufacturers are expected to focus on areas such as obstacle avoidance and detection, mapping, and HRI to improve the capabilities of their robots.
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In this report, Technavio highlights the improvement in mobile robot platforms as one of the key emerging trends in the global smart robots market:
Improvement in mobile robot platforms
Vendors are focusing on three basic areas of improvement for robot platforms which include terrain, locomotion, and kinematics. Although vendors are focusing on indoor smart robots, there is scope for applications in more rugged terrains such as mining and agriculture.
According to a senior analyst at Technavio for robotics research, “The robots path mobility and planning is largely dependent on whether its locomotion is wheeled, legged, serpentine, or tracked. The market is witnessing an increased preference for wheeled mechanisms.”
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Market segmentation - personal service robots to dominate the market
This market research report segments the global smart robots market by product (personal service robots, professional service robots, and collaborative robots), and key regions (the Americas, APAC, and EMEA).
The global smart robots market was dominated by the personal service robots with a market share of over 54% in 2017. Technological innovations that improve user-friendliness along with affordability and awareness about personal service robots are major factors resulting in the high market share of this segment. However, the share of this segment in the market is expected to fall by close to 12% by 2022, due to the burgeoning growth of collaborative robots.
In 2017, the Americas dominated the global smart robots market with a share of over 42%, followed by APAC and EMEA. APAC countries such as China, Japan, South Korea, and India are expected to register considerable adoption during the forecast period. The market will also witness considerable adoption by Taiwan and Australia. In EMEA, countries such as the UK, Germany, France, Italy, and the Netherlands are major revenue contributors to the market. The market will be dominated by Western European countries, while Eastern Europe will show gradual progress during the forecast period.
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