The report is titled as ‘Smart Robots Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the smart robots market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market. The smart robots market is expected to grow with significant rate in the near future.
The global smart robots market in 2020 is estimated for more than US$ 5.9 Bn and expected to reach a value of US$ 30.1 Bn by 2028 with a significant CAGR of 22.6%
Smart Robots Market Definition
In the present-day world, robots have replaced the application of humans in various industries in accomplishment of jobs that are repetitive, dangerous, or where humans are incompetent of operating owing to body restraints, or jobs that need to be performed in extreme environments such as the bottom of the sea or outer space.
In addition, the robots are designed technologically advanced and smart in order to carry out specific tasks in an efficient and easy manner, which further adds to its numerous applications in various industries.
A smart robot can be perceived as an artificial intelligence (AI) that carries the potential to learn from its personal experience and the surroundings and creates its knowledge and capabilities on the basis on personal’s understanding. It is not necessary that robots are meant to replace the job of man as it can also work alongside the humans and learn from their behavior. Owing to which, smart robots are projected to witness huge demand in several different industries in the forthcoming years.
Smart Robots Market Dynamics
The penetration of artificial intelligence (AI) in numerous industries all across the world and growing demand for applications of AI is one of the key factors that is expected to elevate the growth of the global smart robots market in the near future.
Along with that, the constantly developing domestic service sector in present times and penetration of smart robots in the e-commerce sector is also projected to propel the growth of the global smart robots market in the forthcoming years. In addition to that, the global adoption of smart robots in giant industries like healthcare and hospitality industries, specifically for the elderly assistance, is further expected to give a positive push to the growth of the global smart robots market during the forecast timeframe.
Moreover, the huge potential of smart robots to learn and develop their abilities on their own on the basis of personal understanding and from surroundings is also escalating its demand in the global market, thereby boosting the growth of the global smart robots market.
However, the money-exhaustive initial investment and risk of malfunction are few factors that may hold back the growth of the global smart robots market in the coming years.
Smart Robots Market Key Players
Some of the key participating players in the smart robots market are
• SoftBank
• iRobot
• KUKA
• ABB
• Hanson Robotics
• Amazon
• Honda Motor
• FANUC
• YASKAWA
• ECA
• OMRON Adept Technologies
• Samsung Electronics
• Intuitive Surgical
• DeLaval
• Aethon
• Rethink Robotics
• Bluefin Robotics
• GeckoSystems
• BLUE FROG ROBOTICS
• Anki
Smart Robots Market Segmentation
The smart robots market is segmented on the basis of component, industry, service application, and region.
By Component
• Hardware
o Sensor
Gyroscope
Microphone
Accelerometer
Tilt Sensor
Force/Torque Sensor
Position Sensor
Vision/Image Sensor
Others
o Actuator
Electrical
Pneumatic
Hydraulic
Piezoelectric
Ultrasonic
Power Source
Control System/Controller
Others
• Software
By Industry
• Automotive
• Electronics
• Food & Beverages
• Others
By Service Application
• Personal
o Domestic
o Entertainment
o Others
• Professional
o Defense and Security
o Field
o Medical
o Underwater
o Logistics
o Telepresence
o Inspection and Maintenance
o Others
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East
• Africa
MMC Overview on Smart Robots Market Report
The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give better opportunity for the customers to put their effort.
A research report on the Smart Robots market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that supports market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.
Factors that are benchmarked while estimating the market
Various factors that are benchmarked while estimating the market growth include (but not restricted to):
• New product designs and launches
• Current product compliance
• Reimbursement
• Concerns for use of Smart Robots
• Advantages of Smart Robots
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make an informed decisions.
A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.
1. Global Smart Robots Market Report Overview
1.1. Introduction
1.2. Report Description
1.3. Methodology
2. Global Smart Robots Market Overview
2.1. Introduction
2.1.1. Market Definition
2.1.2. Market Taxonomy
2.2. Executive Summary
2.3. Global Smart Robots Market Snapshot
2.4. Global Smart Robots Market Size and Forecast, 2020–2028
2.4.1. Introduction
2.4.2. Market Value Forecast and Annual Growth Rate (AGR) Comparison (2020–2028)
2.5. Global Smart Robots Market Dynamics
2.5.1. Drivers
2.5.2. Restraints
2.5.3. Opportunity
2.5.4. Trends
2.6. Key Regulations
2.7. Porter’s Five Forces Model
3. Global Smart Robots Market, By Component
3.1. Introduction
3.1.1. Annual Growth Rate Comparison, By Component
3.1.2. BPS Analysis, By Component
3.2. Market Revenue (US$Mn) Forecast, By Component
3.2.1. Hardware
3.2.1.1. Sensor
3.2.1.1.1. Gyroscope
3.2.1.1.2. Microphone
3.2.1.1.3. Accelerometer
3.2.1.1.4. Tilt Sensor
3.2.1.1.5. Force/Torque Sensor
3.2.1.1.6. Position Sensor
3.2.1.1.7. Vision/Image Sensor
3.2.1.1.8. Others
3.2.1.2. Actuator
3.2.1.2.1. Electrical
3.2.1.2.2. Pneumatic
3.2.1.2.3. Hydraulic
3.2.1.2.4. Piezoelectric
3.2.1.2.5. Ultrasonic
3.2.1.2.6. Power Source
3.2.1.2.7. Control System/Controller
3.2.1.2.8. Others
3.2.2. Software
3.3. Global Smart Robots Market Attractiveness Index, By Component
4. Global Smart Robots Market, By Industry
4.1. Introduction
4.1.1. Annual Growth Rate Comparison, By Industry
4.1.2. BPS Analysis, By Industry
4.2. Market Revenue (US$Mn) Forecast, By Industry
4.2.1. Automotive
4.2.2. Electronics
4.2.3. Food & Beverages
4.2.4. Others
4.3. Global Smart Robots Market Attractiveness Index, By Industry
5. Global Smart Robots Market, By Service Application
5.1. Introduction
5.1.1. Annual Growth Rate Comparison, By Service Application
5.1.2. BPS Analysis, By Service Application
5.2. Market Revenue (US$Mn) Forecast, By Service Application
5.2.1. Personal
5.2.1.1. Domestic
5.2.1.2. Entertainment
5.2.1.3. Others
5.2.2. Professional
5.2.2.1. Defense and Security
5.2.2.2. Field
5.2.2.3. Medical
5.2.2.4. Underwater
5.2.2.5. Logistics
5.2.2.6. Telepresence
5.2.2.7. Inspection and Maintenance
5.2.2.8. Others
5.3. Global Smart Robots Market Attractiveness Index, By Service Application
6. Global Smart Robots Market, By Region
6.1. Introduction
6.1.1. Annual Growth Rate Comparison, By Region
6.1.2. BPS Analysis, By Region
6.2. Market Revenue (US$Mn) Forecast, By Region
6.2.1. North America
6.2.2. Latin America
6.2.3. Europe
6.2.4. Asia Pacific
6.2.5. Middle East
6.2.6. Africa
6.3. Global Smart Robots Market Attractiveness Index, By Region
7. North America Smart Robots Market Analysis and Forecast, 2020–2028
7.1. Introduction
7.1.1. Annual Growth Rate Comparison, By Country
7.1.2. BPS Analysis, By Country
7.2. Market Revenue (US$Mn) Forecast, By Country
7.2.1. U.S. Smart Robots Market
7.2.2. Canada Smart Robots Market
7.3. North America Smart Robots Market, By Component
7.3.1. Hardware
7.3.1.1. Sensor
7.3.1.1.1. Gyroscope
7.3.1.1.2. Microphone
7.3.1.1.3. Accelerometer
7.3.1.1.4. Tilt Sensor
7.3.1.1.5. Force/Torque Sensor
7.3.1.1.6. Position Sensor
7.3.1.1.7. Vision/Image Sensor
7.3.1.1.8. Others
7.3.1.2. Actuator
7.3.1.2.1. Electrical
7.3.1.2.2. Pneumatic
7.3.1.2.3. Hydraulic
7.3.1.2.4. Piezoelectric
7.3.1.2.5. Ultrasonic
7.3.1.2.6. Power Source
7.3.1.2.7. Control System/Controller
7.3.1.2.8. Others
7.3.2. Software
7.4. North America Smart Robots Market, By Industry
7.4.1. Automotive
7.4.2. Electronics
7.4.3. Food & Beverages
7.4.4. Others
7.5. North America Smart Robots Market, By Service Application
7.5.1. Personal
7.5.1.1. Domestic
7.5.1.2. Entertainment
7.5.1.3. Others
7.5.2. Professional
7.5.2.1. Defense and Security
7.5.2.2. Field
7.5.2.3. Medical
7.5.2.4. Underwater
7.5.2.5. Logistics
7.5.2.6. Telepresence
7.5.2.7. Inspection and Maintenance
7.5.3. Others
7.6. North America Smart Robots Market Attractiveness Index
7.6.1. By Country
7.6.2. By Component
7.6.3. By Service Application
7.6.4. By Industry
8. Latin America Smart Robots Market Analysis and Forecast, 2020–2028
8.1. Introduction
8.1.1. Annual Growth Rate Comparison, By Country
8.1.2. BPS Analysis, By Country
8.2. Market (US$Mn) and Volume (Units) Forecast, By Country
8.2.1. Brazil Smart Robots Market
8.2.2. Mexico Smart Robots Market
8.2.3. Argentina Smart Robots Market
8.2.4. Rest of Latin America Smart Robots Market
8.3. Latin America Smart Robots Market, By Component
8.3.1. Hardware
8.3.1.1. Sensor
8.3.1.1.1. Gyroscope
8.3.1.1.2. Microphone
8.3.1.1.3. Accelerometer
8.3.1.1.4. Tilt Sensor
8.3.1.1.5. Force/Torque Sensor
8.3.1.1.6. Position Sensor
8.3.1.1.7. Vision/Image Sensor
8.3.1.1.8. Others
8.3.1.2. Actuator
8.3.1.2.1. Electrical
8.3.1.2.2. Pneumatic
8.3.1.2.3. Hydraulic
8.3.1.2.4. Piezoelectric
8.3.1.2.5. Ultrasonic
8.3.1.2.6. Power Source
8.3.1.2.7. Control System/Controller
8.3.1.2.8. Others
8.3.2. Software
8.4. Latin America Smart Robots Market, By Industry
8.4.1. Automotive
8.4.2. Electronics
8.4.3. Food & Beverages
8.4.4. Others
8.5. Latin America Smart Robots Market, By Service Application
8.5.1. Personal
8.5.1.1. Domestic
8.5.1.2. Entertainment
8.5.1.3. Others
8.5.2. Professional
8.5.2.1. Defense and Security
8.5.2.2. Field
8.5.2.3. Medical
8.5.2.4. Underwater
8.5.2.5. Logistics
8.5.2.6. Telepresence
8.5.2.7. Inspection and Maintenance
8.5.3. Others
8.6. Latin America Smart Robots Market Attractiveness Index
8.6.1. By Country
8.6.2. By Component
8.6.3. By Service Application
8.6.4. By Industry
9. Europe Smart Robots Market Analysis and Forecast, 2020–2028
9.1. Introduction
9.1.1. Annual Growth Rate Comparison, By Country
9.1.2. BPS Analysis, By Country
9.2. Market (US$Mn) and Volume (Units) Forecast, By Country
9.2.1. U.K. Smart Robots Market
9.2.2. Germany Smart Robots Market
9.2.3. Italy Smart Robots Market
9.2.4. France Smart Robots Market
9.2.5. Spain Smart Robots Market
9.2.6. Russia Smart Robots Market
9.2.7. Poland Smart Robots Market
9.2.8. BENELUX Smart Robots Market
9.2.9. NORDIC Smart Robots Market
9.2.10. Rest of Europe Smart Robots Market
9.3. Europe Smart Robots Market, By Component
9.3.1. Hardware
9.3.1.1. Sensor
9.3.1.1.1. Gyroscope
9.3.1.1.2. Microphone
9.3.1.1.3. Accelerometer
9.3.1.1.4. Tilt Sensor
9.3.1.1.5. Force/Torque Sensor
9.3.1.1.6. Position Sensor
9.3.1.1.7. Vision/Image Sensor
9.3.1.1.8. Others
9.3.1.2. Actuator
9.3.1.2.1. Electrical
9.3.1.2.2. Pneumatic
9.3.1.2.3. Hydraulic
9.3.1.2.4. Piezoelectric
9.3.1.2.5. Ultrasonic
9.3.1.2.6. Power Source
9.3.1.2.7. Control System/Controller
9.3.1.2.8. Others
9.3.2. Software
9.4. Europe Smart Robots Market, By Industry
9.4.1. Automotive
9.4.2. Electronics
9.4.3. Food & Beverages
9.4.4. Others
9.5. Europe Smart Robots Market, By Service Application
9.5.1. Personal
9.5.1.1. Domestic
9.5.1.2. Entertainment
9.5.1.3. Others
9.5.2. Professional
9.5.2.1. Defense and Security
9.5.2.2. Field
9.5.2.3. Medical
9.5.2.4. Underwater
9.5.2.5. Logistics
9.5.2.6. Telepresence
9.5.2.7. Inspection and Maintenance
9.5.3. Others
9.6. Europe Smart Robots Market Attractiveness Index
9.6.1. By Country
9.6.2. By Component
9.6.3. By Service Application
9.6.4. By Industry
10. Asia Pacific Smart Robots Market Analysis and Forecast, 2020–2028
10.1. Introduction
10.1.1. Annual Growth Rate Comparison, By Country
10.1.2. BPS Analysis, By Country
10.2. Market (US$Mn) and Volume (Units) Forecast, By Country
10.2.1. China Smart Robots Market
10.2.2. India Smart Robots Market
10.2.3. Japan Smart Robots Market
10.2.4. Australia and New Zealand Smart Robots Market
10.2.5. South Korea Smart Robots Market
10.2.6. ASEAN Smart Robots Market
10.2.7. Rest of Asia Pacific Smart Robots Market
10.3. Asia Pacific Smart Robots Market, By Component
10.3.1. Hardware
10.3.1.1. Sensor
10.3.1.1.1. Gyroscope
10.3.1.1.2. Microphone
10.3.1.1.3. Accelerometer
10.3.1.1.4. Tilt Sensor
10.3.1.1.5. Force/Torque Sensor
10.3.1.1.6. Position Sensor
10.3.1.1.7. Vision/Image Sensor
10.3.1.1.8. Others
10.3.1.2. Actuator
10.3.1.2.1. Electrical
10.3.1.2.2. Pneumatic
10.3.1.2.3. Hydraulic
10.3.1.2.4. Piezoelectric
10.3.1.2.5. Ultrasonic
10.3.1.2.6. Power Source
10.3.1.2.7. Control System/Controller
10.3.1.2.8. Others
10.3.2. Software
10.4. Asia Pacific Smart Robots Market, By Industry
10.4.1. Automotive
10.4.2. Electronics
10.4.3. Food & Beverages
10.4.4. Others
10.5. Asia Pacific Smart Robots Market, By Service Application
10.5.1. Personal
10.5.1.1. Domestic
10.5.1.2. Entertainment
10.5.1.3. Others
10.5.2. Professional
10.5.2.1. Defense and Security
10.5.2.2. Field
10.5.2.3. Medical
10.5.2.4. Underwater
10.5.2.5. Logistics
10.5.2.6. Telepresence
10.5.2.7. Inspection and Maintenance
10.5.3. Others
10.6. Asia Pacific Smart Robots Market Attractiveness Index
10.6.1. By Country
10.6.2. By Component
10.6.3. By Service Application
10.6.4. By Industry
11. Middle East Smart Robots Market Analysis and Forecast, 2020–2028
11.1. Introduction
11.1.1. Annual Growth Rate Comparison, By Country
11.1.2. BPS Analysis, By Country
11.2. Market (US$Mn) and Volume (Units) Forecast, By Country
11.2.1. GCC Countries Smart Robots Market
11.2.2. Israel Smart Robots Market
11.2.3. Oman Smart Robots Market
11.2.4. Rest of Middle East Smart Robots Market
11.3. Middle East Smart Robots Market, By Component
11.3.1. Hardware
11.3.1.1. Sensor
11.3.1.1.1. Gyroscope
11.3.1.1.2. Microphone
11.3.1.1.3. Accelerometer
11.3.1.1.4. Tilt Sensor
11.3.1.1.5. Force/Torque Sensor
11.3.1.1.6. Position Sensor
11.3.1.1.7. Vision/Image Sensor
11.3.1.1.8. Others
11.3.1.2. Actuator
11.3.1.2.1. Electrical
11.3.1.2.2. Pneumatic
11.3.1.2.3. Hydraulic
11.3.1.2.4. Piezoelectric
11.3.1.2.5. Ultrasonic
11.3.1.2.6. Power Source
11.3.1.2.7. Control System/Controller
11.3.1.2.8. Others
11.3.2. Software
11.4. Middle East Smart Robots Market, By Industry
11.4.1. Automotive
11.4.2. Electronics
11.4.3. Food & Beverages
11.4.4. Others
11.5. Middle East Smart Robots Market, By Service Application
11.5.1. Personal
11.5.1.1. Domestic
11.5.1.2. Entertainment
11.5.1.3. Others
11.5.2. Professional
11.5.2.1. Defense and Security
11.5.2.2. Field
11.5.2.3. Medical
11.5.2.4. Underwater
11.5.2.5. Logistics
11.5.2.6. Telepresence
11.5.2.7. Inspection and Maintenance
11.5.3. Others
11.6. Middle East Smart Robots Market Attractiveness Index
11.6.1. By Country
11.6.2. By Component
11.6.3. By Service Application
11.6.4. By Industry
12. Africa Smart Robots Market Analysis and Forecast, 2020–2028
12.1. Introduction
12.1.1. Annual Growth Rate Comparison, By Country
12.1.2. BPS Analysis, By Country
12.2. Market (US$Mn) and Volume (Units) Forecast, By Country
12.2.1. South Africa Smart Robots Market
12.2.2. Egypt Smart Robots Market
12.2.3. North Africa Smart Robots Market
12.2.4. Rest of Africa Smart Robots Market
12.3. Africa Smart Robots Market, By Component
12.3.1. Hardware
12.3.1.1. Sensor
12.3.1.1.1. Gyroscope
12.3.1.1.2. Microphone
12.3.1.1.3. Accelerometer
12.3.1.1.4. Tilt Sensor
12.3.1.1.5. Force/Torque Sensor
12.3.1.1.6. Position Sensor
12.3.1.1.7. Vision/Image Sensor
12.3.1.1.8. Others
12.3.1.2. Actuator
12.3.1.2.1. Electrical
12.3.1.2.2. Pneumatic
12.3.1.2.3. Hydraulic
12.3.1.2.4. Piezoelectric
12.3.1.2.5. Ultrasonic
12.3.1.2.6. Power Source
12.3.1.2.7. Control System/Controller
12.3.1.2.8. Others
12.3.2. Software
12.4. Africa Smart Robots Market, By Industry
12.4.1. Automotive
12.4.2. Electronics
12.4.3. Food & Beverages
12.4.4. Others
12.5. Africa Smart Robots Market, By Service Application
12.5.1. Personal
12.5.1.1. Domestic
12.5.1.2. Entertainment
12.5.1.3. Others
12.5.2. Professional
12.5.2.1. Defense and Security
12.5.2.2. Field
12.5.2.3. Medical
12.5.2.4. Underwater
12.5.2.5. Logistics
12.5.2.6. Telepresence
12.5.2.7. Inspection and Maintenance
12.5.3. Others
12.6. Africa Smart Robots Market Attractiveness Index
12.6.1. By Country
12.6.2. By Component
12.6.3. By Service Application
12.6.4. By Industry
13. Recommendation
13.1. Market Strategy
14. Competitive Landscape
14.1. Competition Dashboard
14.2. List and Company Overview of Global Key Players
14.3. Company Profiles
14.3.1. SoftBank
14.3.1.1. Company Overview
14.3.1.2. Financial Overview
14.3.1.3. Product Portfolio
14.3.1.4. Key Developments
14.3.1.5. Business Strategies
14.3.2. iRobot
14.3.3. KUKA
14.3.4. ABB
14.3.5. Hanson Robotics
14.3.6. Amazon.com
14.3.7. Honda Motor
14.3.8. FANUC
14.3.9. YASKAWA
14.3.10. ECA
14.3.11. OMRON Adept Technologies
14.3.12. Samsung Electronics
14.3.13. Intuitive Surgical
14.3.14. DeLaval
14.3.15. Aethon
14.3.16. Rethink Robotics
14.3.17. Bluefin Robotics
14.3.18. GeckoSystems
14.3.19. BLUE FROG ROBOTICS
14.3.20. Anki
15. Acronyms
Frequently Asked Questions
What is the projected market size & Compound Annual Growth Rate (CAGR) of the market?
The global smart robots market in 2020 is estimated for more than US$ 5.9 Bn and expected to reach a value of US$ 30.1 Bn by 2028 with a significant CAGR of 22.6%
What are the key factors driving the growth of market?
The penetration of artificial intelligence (AI) in numerous industries all across the world and growing demand for applications of AI is one of the key factors that is expected to elevate the growth of the global smart robots market in the near future.
What segments are covered in market report?
The smart robots market is segmented on the basis of component, industry, service application, and region.
What are the key participating players in the market?
Some of the key participating players in the smart robots market are SoftBank, iRobot, KUKA, ABB, Hanson Robotics, Amazon, Honda Motor, FANUC, YASKAWA, ECA, OMRON Adept Technologies, Samsung Electronics, Intuitive Surgical, DeLaval, Aethon, Rethink Robotics, Bluefin Robotics, GeckoSystems, BLUE FROG ROBOTICS, and Anki
