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.
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.
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.
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.
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.