Published Date: 3-Feb-2021
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According to a new report Global Smart Robots Market, published by KBV research, The Global Smart Robots Market size is expected to reach $25 billion by 2026, rising at a market growth of 27.2% CAGR during the forecast period.
Control systems procure the highest growth rate of the smart robots hardware market in 2020. Controllers are the most necessary and relevant element of smart robots as the speed and precision of processing information relies on them. On the basis of the complexity of the system, the costs of controllers can increase, resulting in the optimum value addition to the overall smart robot hardware circuitry.
On the other hand, the sensors segment is anticipated to develop at the highest CAGR during the forecast years as sensors are anticipated to be major factor in increasing the scope of applications carried out by robots. To get a competitive advantage, manufacturers are creating robots which are interactive, smarter, and user friendly, combined with additional new features to their products. These new functions are resulting in the incorporation of various new kinds of sensors into the overall smart robot design.
On the basis of end-user, the industrial segment is expected to obtain the highest growth in the smart robots market during the forecast years due to the increasing deployment of smart robots in manufacturing plants. There are various advantages provided by smart robot such as it expands the production ability, improves workplace safety, decrease labor costs, and enhances quality.
North America and Europe are considered as the major smart robotics market; hence these regions dominate the major portion of market revenue. However, due to the penetration of smart robots in nations like India and China, Asia-Pacific is expected to have the highest growth rate across the world. Moreover, this region also includes various smart robot vendors including Honda Motors Ltd and Yaskawa Electric Corporation, thereby propelling the market development in the Asia-Pacific region.
Full Report: https://www.kbvresearch.com/smart-robots-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of ABB Group, Kuka AG, FANUC Corporation, Yaskawa Electric Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Amazon.com, Inc., iRobot Corporation, SoftBank Group Corporation (SoftBank Robotics), Teradyne, Inc. (Universal Robots) and Hanson Robotics Limited.
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By End User
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