Smart Robots Market Scope
A smart robot refers to artificial intelligence (AI) system which learns from its experience and environment and build on its abilities based on that knowledge. Smart robots market has high growth prospects owing to increasing adoption of smart robots in the industrial application such as automotive, electronics, food & beverages. Further, increasing demand from the developing countries and technological advancement in the robotics industry expected to drive the demand for smart robots over the forecasted period.
According to AMA, the Global Smart Robots market is expected to see growth rate of 15.16%
Number of players are present in the market hence fragmented nature of the market. Market players are focusing on technological developments such as integration of artificial intelligence, internet of things, machine learning, and others with smart robots. Increasing adoption of smart robots at manufacturing plants expected to generate lucrative opportunities for the players engaged in the smart robotics industry. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Smart Robots market throughout the predicted period.
SoftBank (Japan), IRobot (United States), KUKA (Germany), ABB (Switzerland), Hanson Robotics (Hong Kong), Amazon.com (United States), Honda Motor (Japan), FANUC (Japan), YASKAWA ELECTRIC (Japan), ECA (France), OMRON Adept Technologies (United States), Samsung Electronics (South Korea), Intuitive Surgical (United States), DeLaval (Sweden) and Aethon (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Rethink Robotics (United States), Bluefin Robotics (United States), GeckoSystems (United States), BLUE FROG ROBOTICS (France) and Anki (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Smart Robots market and Region with country level break-up.
On the basis of geography, the market of Smart Robots has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
9th May 2019, Ford introduced an autonomous robot at Motor manufacturing plant in Valencia, this self-driving robot integrated with lidar (light detection and ranging) technology to visualize its surroundings and deliver spare parts to where they’re needed in the manufacturing plant.
Market Trend
- Emphasizing On Technological Advancement in the Robotics Industry
- Emergence of AI-Enabled Smart Robots
Market Drivers
- Growing Focus on Industrial Automation
- Increasing Adoption of Autonomous Robots for Professional Services
Opportunities
- Increasing Application of IoT in Smart Robots
- Rising Demand from the Developing Countries
Restraints
- High Manufacturing Cost Associated With Smart Robots
Challenges
- Safety Concerns Associated With Smart Robots
Key Target Audience
Raw Material and Manufacturing Equipment Suppliers, Electronic Design Automation (EDA) and Design Tool Vendors, ODM and OEM Technology Solution Providers, Assembly, Testing, And Packaging Vendors, Government and Other Regulatory Bodies, Technology Investors, Research Institutes and Organizations and Others