A recent report published by Infinium Global Research on the smart robots market provides an in-depth analysis of segments and sub-segments in the global as well as regional smart robots market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional smart robots market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global smart robots market. According to the report, the global smart robots market is projected to grow at a CAGR of 18.83% over the forecast period of 2020-2026.

Market Insight

Robots have become smarter with time and the advancement of technologies. Smart robots are machines integrated with artificial intelligence to augment and assist humans in various activities. Advancements in AI have brought evolution and better capacity in robots. Smart robots collaborate with humans and learn from their behavior while working along-side them. The number and types of operations that can be automated or augmented with the help of smart robots and other smart machines is rapidly increasing. Smart robots have the capability to do manual labor as well as to perform cognitive tasks.     

The COVID-19 pandemic has hit the global economy severely. Many industries have been affected by the spread of coronavirus. The production of hardware and other components used for robots has decreased during the period of pandemic owing to the government restrictions on businesses. Furthermore, the supply chain of the hardware industry has been disrupted during the pandemic. However, as the pandemic situation comes under control, the production and supply of components required for robot manufacturing are expected to restore to their normal state. The growing number of advancements in robotic technology is driving the growth of the smart robot market. The fast-paced technological advancements in the fields of engineering, automation, artificial intelligence, and machine learning are augmenting the development of innovative smart robots. Moreover, increasing labor shortages across various regions are anticipated to boost the demand for smart robots. Several countries across the world are facing a shortage of labor and smart robots offer better solutions to address the workforce shortage. However, the concerns over data privacy and security are anticipated to hamper the market growth. The major issue with respect to privacy involves data protection and data transfer by smart robots. On the other hand, technological progress in automation encourages the higher adoption of smart robots. The technical ability to automate a variety of tasks with changing complexities has encouraged an exponential demand for smart robots in numerous industries.

North American region generated the highest revenue in the global smart robots market owing to the early adoption of technically advanced products in the end-use industries. Owing to the rising demand from the medical field for rehabilitation in the region, favorable funding for assistive technologies for research, various hospitals are adopting surgical robots, and availability of technologically innovative robots are driving factors for the service robotics market in the region.

Segment Covered

The report on the global smart robots market covers segments such as component and applications. On the basis of components, the sub-markets include hardware. On the basis of application, the sub-markets include industrial.

Companies Profiled:

The report provides profiles of the companies in the market such as DeLaval, SoftBank Robotics Co, Hanson Robotics, Sanbot Innovation Technology, Intelitek Inc, ABB Ltd, Intuitive surgical, iRobot Corp, and Samsung Corp.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the smart robots market. Moreover, the study highlights current market trends and provides forecasts from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.