According to a new market research, the total smart robots market is expected to reach USD 7.85 billion by 2020, at an estimated CAGR of 19.22% between 2015 and 2020.
“Smart Robots Market by Component (Software, Hardware), Application (Collaborative Industrial Robots, Personal Service Robots, Professional Service Robots), by Geography (North America, Europe, APAC, RoW) - Analysis & Forecast to 2020”
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Smart robots are the robotic systems which are capable to carry out operation without direct human intervention. They are currently being designed to perform autonomous tasks and work along with humans. The smart robots market for industrial applications consist of collaborative robots which are designed to work along with humans and they are adopted by various industrial sectors such as automotive, electronics among others. The collaborative robots market size is expected to reach USD 1.07 Billion by 2020. In the service industry, smart robots are used in different professional and personal applications.
This report covers the said market in regions, including the North America, Europe, Asia-Pacific, and Rest of the World (RoW). The global smart robots market is dominated by North America and it is expected to contribute around 40% to the total market.
The significant drivers contributing to the growth of the smart robots market include increasing demand from the healthcare sector, adoption of smart robots by the e-commerce giants, the growing domestic service segment, and the growth of elderly assistance robots. However, the slow rate of commercialization and high cost incurred in research and development are the key factors that are restraining the growth of the market.
Smart robots are the intelligent robotic systems with artificial intelligence designed to carry out their operation without direct human intervention. They perform their tasks independently and can work along with humans in various industrial and service applications. The smart robots application market is mainly dominated by service applications broadly categorized into personal and professional services.
The report also discusses the future road-map of the global smart robots market with respect to upcoming technologies, potential markets, and applications. The key players includes iRobot Corporation (U.S.), DeLaval (Sweden), Lely (The Netherlands), KUKA AG (Germany), Amazon (U.S.) Honda (Japan), Kongsberg Maritime (Norway), Google Inc. (U.S.) among others.
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