Smart Robot Market to Reach USD 31.11 Billion by 2027; Emphasis on Smart Infrastructure Projects by Governments to Foster Growth, states Fortune Business Insights™

Pune, Jan. 21, 2021 (GLOBE NEWSWIRE) -- The global smart robot market size is expected to reach USD 31.11 billion by 2027, exhibiting a CAGR of 23.1% during the forecast period. Rapid industrialization coupled with intelligent infrastructure projects will contribute positively to the growth of the market, states Fortune Business Insights, in a report, titled “Smart Robot Market Size, Share & COVID-19 Impact Analysis, By Type (Personal/Domestic Robots and Professional Robots), By Mobility (Mobile, Fixed/Stationary), By Application (Inspection and Maintenance, Material Handling and Sorting, Security and Surveillance, Education and Entertainment, Sanitation and Disinfection, and Others), By End User (Manufacturing, Healthcare, Agriculture, Military and Defense, Logistics and Warehouse, Education and Entertainment, Others), and Regional Forecast, 2020-2027.” The market size stood at USD 5.98 billion in 2019.

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The report on the smart robot market features:

  • Extraordinary insights into the market
  • All-inclusive facts and figures
  • Latest industry development
  • Data about the prominent players
  • Dominating regions in the market
  • COVID-19 effect on the global market

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Market Driver:

Integration of AI in Advanced Robots to Boost Adoption

The advent of artificial intelligence (AI) in robotics has transformed the dynamics of industrial technology. AI-powered robots can determine, acclimatize, and act in more and more complex environments or situations. AI simulators have increasingly become accurate to drive real-world applications efficiently. These simulators can run hundreds of iterative processes within seconds, generating massive amounts of valuable data. The growing popularity of AI-powered intelligent robotics will have a tremendous impact on the market. The evolving technologies in artificial intelligence have made interactions and processes with humans more profound. AI robots have become more accurate, smarter, and more profitable for industrial operations, which, in turn, will enable speedy expansion of the market.

Coronavirus: No-Touch Policy to Incite Robots Demand Amid Pandemic

The global COVID-19 crisis has intensified the demand for intelligent robots in the healthcare industry. The policies pertaining to coronavirus such as social-distancing, no-touch, and mandatory masks will heighten the need for robots in various sectors, especially healthcare. For instance, Doctors are utilizing robots to assist and automate the testing, diagnosis, and treatment of the COVID-infected patient. The increasing number of coronavirus-infected patients has consequently elevated the requirement for robots. Various hospitals have started using robots to treat infected patients distantly and effectively. As per the press released by ABB, Ltd in October 2020, high precision robots have been implemented at testing laboratories in Singapore to enhance and speed-up the COVID-19 testing process. Similarly, the Danish robot manufacturing company called 'UVD Robots' has shipped hundreds of ultraviolet-light disinfection robots to hospitals in Europe and China. 

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Regional Analysis:

Ongoing Industrialization to Foster Growth in Asia Pacific

The market for smart robot in Asia Pacific is expected to witness a rapid growth rate during the forecast period. The increasing adoption robots in China and South Korea will promote expansion in Asia Pacific. The development of robotic technologies can have a tremendous impact on the market in the region. As per the 'Robot-ready: adopting a new generation of industrial robots report' published by the PWC in June 2018, china has recorded the shipments of 115,000 industrial robots in 2017. South Korea, Japan, Singapore, and China are leading in the production and usage of industrial robots. The rising industrialization in developing countries will facilitate the healthy growth of the market in Asia Pacific. Europe is expected to expand radically during the forecast period owing to the industrial automation in various European countries.

Key Development:

July 2019: BluHaptics, Inc (Olis Robotics) signed a partnership agreement with Tethers Unlimited, Inc. to introduce distantly operated smart robots applicable for space stations.

The Report Lists the Key Companies in the Smart Robot Market:

  • SoftBank Corp (Tokyo, Japan)
  • GeckoSystems Intl. Corp. (Georgia, United States)
  • Aethon, Inc. (Pittsburgh, Pennsylvania, United States)
  • Neato Robotics, Inc. (San Jose, California, United States)
  • Samsung Electronics Co., Ltd (Suwon, Korea)
  • ABB Ltd (Zürich, Switzerland)
  • KUKA Aktiengesellschaft (Augsburg, Germany)
  • FANUC CORPORATION (Oshino, Yamanashi, Japan)
  • Hanson Robotics Limited (Hong Kong)
  • YASKAWA ELECTRIC CORPORATION (Kitakyushu, Fukuoka, Japan)
  • BLUE FROG ROBOTICS SAS (Paris, France)
  • Kongsberg Gruppen ASA (Kongsberg, Norway)
  • Universal Robots A/S (Odense, Denmark.)
  • ECA GROUP (La Garde, France)
  • iRobot Corporation (Bedford, Massachusetts, United States)
  • DeLaval Inc. (Tumba, Botkyrka, Sweden)
  • Intuitive Surgical, Inc (Sunnyvale, California, United States)
  • Rethink Robotics GmbH (Bochum, Germany)
  • Honda Motor Co., Ltd. (Minato City, Tokyo, Japan)

Quick Buy- Smart Robot Market:

Major Table of Content:

  • Introduction
    • Definition, By Segment
    • Research Methodology/Approach
    • Data Sources
  • Key Takeaways
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
    • PESTLE Analysis
    • Porter’s Five Force Analysis
    • Ecosystem Analysis 
    • Global Market Share Analysis and Matrix, 2019
  • Key Market Insights and Strategic Recommendations
  • Profiles of Key Players (Would be provided for 10 players only)
    • Overview
      • Key Management
      • Headquarters etc
    • Offerings/Business Segments
    • Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
      • Employee Size
      • Key Financials
        • Past and Current Revenue
        • Gross Margin
        • Geographical Share
        • Business Segment Share
    • Recent Developments
  • Primary Interview Responses
  • Annexure / Appendix
    • Global Smart Robot Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
      • By Type (Value)
        • Personal/Domestic Robots
        • Professional Robots
      • By Mobility (Value)
        • Mobile
        • Fixed/Stationary 
      • By Application (Value)
        • Inspection and Maintenance
        • Material Handling and Sorting
        • Security and Surveillance
        • Education and Entertainment
        • Sanitation and Disinfection
        • Others
      • By End-User (Value)
        • Manufacturing
        • Healthcare
        • Agriculture
        • Military and Defense
        • Logistics and Warehouse
        • Education and Entertainment
        • Others
      • By Region (Value)
        • North America
        • South America
        • Europe
        • Middle East & Africa
        • Asia Pacific

TOC Continued..

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