Report Description

Forecast Period

2025-2029

Market Size (2023)

USD 4.61 billion

CAGR (2024-2029)

28.55%

Fastest Growing Segment

Mobile

Largest Market

North America

Market Size (2029)

USD 20.99 billion

Market Overview

Global Smart Robots Market was valued at USD 4.61 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 28.55% through 2029. The integration of smart robots represents a transformative leap in optimizing operational efficiency across various industries. These advanced robotic systems are equipped with artificial intelligence and machine learning capabilities, enabling them to autonomously perform complex tasks with precision and reliability. In manufacturing environments, smart robots streamline assembly processes by executing repetitive tasks quickly and accurately, thereby reducing human error and enhancing product quality. Their ability to handle intricate assembly tasks ensures consistent output, ultimately contributing to increased productivity and operational efficiency. In logistics and warehouse management, smart robots play a pivotal role in enhancing material handling operations. They can efficiently sort, pick, and pack goods, significantly reducing order fulfillment times and minimizing downtime in distribution centers. By automating these critical tasks, smart robots optimize inventory management processes and enable seamless integration with supply chain operations. This integration not only improves overall efficiency but also enhances customer satisfaction through faster and more reliable order processing and delivery. As industries continue to embrace automation technologies, the deployment of smart robots is poised to redefine operational standards, driving sustainable growth and competitiveness in today's dynamic market 

Key Market Drivers

Advancements in Artificial Intelligence and Machine Learning

The rapid evolution of artificial intelligence (AI) and machine learning (ML) technologies is a primary driver propelling the growth of the global smart robots market. As these technologies continue to advance, smart robots become increasingly sophisticated, intelligent, and capable of performing complex tasks. AI and ML algorithms empower robots with the ability to learn from experience, adapt to changing environments, and make real-time decisions.

In recent years, there has been a surge in the development of advanced AI algorithms that enhance the cognitive abilities of smart robots. These robots can now analyze vast amounts of data, recognize patterns, and make decisions with a level of accuracy and efficiency that was previously unattainable. This has expanded the range of applications for smart robots across various industries, including manufacturing, healthcare, logistics, and consumer services.

The integration of AI and ML technologies into smart robots also contributes to the development of autonomous and collaborative robotic systems. These robots can work alongside humans, performing tasks that require a high degree of precision, speed, and adaptability. The continuous progress in AI and ML is expected to drive further innovation in the smart robots market, fostering the creation of robots with enhanced problem-solving abilities and improved human-machine interaction.

Increasing Adoption of Robotics in Manufacturing

Another significant driver for the global smart robots market is the increasing adoption of robotics in manufacturing processes. The manufacturing industry has witnessed a paradigm shift with the integration of smart robots to enhance efficiency, reduce costs, and improve overall productivity. Smart robots are deployed in tasks such as assembly, welding, packaging, and quality control, where they can perform repetitive and precision-oriented tasks with high accuracy.

Manufacturers are recognizing the benefits of smart robots in streamlining operations, reducing errors, and achieving higher production volumes. The use of smart robots in manufacturing also contributes to the concept of Industry 4.0, where automation, connectivity, and data exchange play a central role in creating "smart factories." These smart factories leverage the capabilities of interconnected robots to create a more flexible and responsive manufacturing environment.

The demand for smart robots in manufacturing is driven by the need for increased production efficiency, improved product quality, and a competitive edge in the global market. As manufacturing industries continue to embrace smart technologies, the smart robots market is poised for substantial growth, with a focus on developing robots that can seamlessly integrate into existing manufacturing processes.

Rising Labor Costs and the Need for Automation

The escalating costs of labor in various industries, coupled with the increasing need for operational efficiency, have emerged as key drivers for the global smart robots market. As businesses strive to remain competitive in a globalized economy, many are turning to automation solutions to reduce labor costs, minimize errors, and enhance overall productivity.

Smart robots offer a compelling solution to address the challenges associated with rising labor costs. These robots can perform tasks 24/7 without the need for breaks, vacations, or benefits, providing a cost-effective alternative to human labor in certain applications. Industries such as logistics, e-commerce, and agriculture are increasingly adopting smart robots to handle repetitive and labor-intensive tasks, allowing human workers to focus on more complex and value-added activities.

The COVID-19 pandemic has accelerated the adoption of smart robots in various sectors, as businesses seek to minimize human contact and maintain operations during disruptions. The pandemic highlighted the vulnerabilities of global supply chains and the importance of automation in ensuring business continuity.

The rising demand for automation driven by increasing labor costs and the need for operational efficiency is a significant driver for the growth of the global smart robots market. As businesses continue to prioritize cost-effective and efficient solutions, the adoption of smart robots is expected to expand across diverse industries.



Download Free Sample Report

Key Market Challenges

High Initial Costs and Return on Investment Concerns

One of the primary challenges facing the global smart robots market is the high initial costs associated with the development, implementation, and integration of advanced robotic systems. The upfront investment required for acquiring smart robots equipped with cutting-edge technologies, such as artificial intelligence and machine learning, can be substantial. Additionally, businesses often need to invest in infrastructure upgrades, training programs, and customization to seamlessly integrate smart robots into their existing workflows.

For many organizations, especially small and medium-sized enterprises (SMEs), the financial burden of adopting smart robots can act as a significant barrier. Concerns about the return on investment (ROI) further complicate the decision-making process. Businesses are cautious about committing to large-scale robotic deployments without a clear understanding of the time it takes to recoup the initial investment and realize tangible benefits. This challenge requires manufacturers and solution providers to explore cost-effective alternatives, promote flexible financing options, and demonstrate the long-term value proposition of smart robots to potential adopters.

Complex Regulatory Environment and Ethical Considerations

The global smart robots market faces challenges arising from the complex regulatory landscape and ethical considerations surrounding the deployment of advanced robotic systems. Governments and regulatory bodies are grappling with the task of establishing comprehensive frameworks that address safety standards, data privacy, and liability issues associated with smart robots. The lack of standardized regulations can lead to uncertainty for businesses looking to invest in smart robotics, as they must navigate varying legal requirements across different regions.

Ethical concerns also pose challenges for the smart robots market, particularly in industries where robots interact closely with humans, such as healthcare and customer service. Questions about job displacement, the ethical use of AI, and the potential consequences of autonomous decision-making by robots raise important considerations for policymakers, businesses, and society at large. Addressing these concerns requires collaboration between industry stakeholders, policymakers, and ethicists to develop guidelines and standards that ensure the responsible and ethical deployment of smart robots.

Technological Limitations and Interoperability Issues

Despite significant advancements, smart robots still face technological limitations that can impede their widespread adoption and effectiveness in certain applications. Challenges such as limited dexterity, difficulty navigating complex environments, and the inability to handle unstructured tasks can restrict the range of tasks that smart robots can perform effectively. Overcoming these limitations requires continuous research and development efforts to enhance the capabilities of smart robots, making them more versatile and adaptable to diverse scenarios.

Interoperability issues also present a challenge for the smart robots market. As organizations seek to integrate smart robots into existing systems and workflows, compatibility and seamless communication between different robotic systems become crucial. The lack of standardized communication protocols and interfaces can hinder the interoperability of smart robots with other automation technologies, limiting their potential to work collaboratively and efficiently.

To address these challenges, industry stakeholders must invest in research and development to overcome technological limitations, actively engage with regulatory bodies to shape a conducive environment, and work collaboratively to establish interoperability standards that facilitate the integration of smart robots into various industries.

Key Market Trends

Increasing Integration of Internet of Things (IoT) in Smart Robots

A prominent trend shaping the global smart robots market is the growing integration of Internet of Things (IoT) technologies. As the IoT ecosystem expands, smart robots are becoming more connected and capable of leveraging real-time data to enhance their decision-making and operational efficiency. IoT-enabled sensors, actuators, and communication modules are being integrated into smart robots, allowing them to collect and exchange data with other devices and systems.

The integration of IoT in smart robots offers several advantages. Firstly, it enables enhanced perception and environmental awareness for robots, allowing them to navigate dynamic and complex environments more effectively. Sensors can provide information about the surroundings, detect obstacles, and optimize the robot's path. Secondly, IoT connectivity facilitates remote monitoring and control, enabling operators to manage and supervise robotic systems from a centralized location. This is particularly valuable in scenarios where robots are deployed in hazardous or challenging environments.

The IoT integration in smart robots contributes to predictive maintenance and data-driven decision-making. Sensors can monitor the health and performance of robotic components, predicting potential failures and enabling proactive maintenance measures. This not only minimizes downtime but also extends the lifespan of the robotic systems.

As industries increasingly recognize the benefits of IoT-enabled smart robots, the trend is expected to gain momentum. The interconnectivity facilitated by IoT technologies will likely lead to the development of more sophisticated and collaborative robotic systems, capable of seamlessly integrating into smart factories, logistics networks, and other industrial settings.

Surge in Demand for Collaborative Robots (Cobots)

A significant trend influencing the global smart robots market is the increasing demand for collaborative robots, commonly known as cobots. Unlike traditional industrial robots that often operate in isolation or behind safety barriers, cobots are designed to work alongside humans in a shared workspace. This trend is driven by the need for flexible and adaptive automation solutions that can enhance productivity while ensuring the safety and well-being of human workers.

The surge in demand for cobots is particularly evident in industries such as manufacturing, healthcare, and logistics. In manufacturing, cobots are deployed for tasks that require precision and dexterity, collaborating with human workers to optimize production processes. In healthcare, cobots assist in various capacities, including patient care, rehabilitation, and routine tasks in medical facilities. In logistics and warehouses, cobots play a crucial role in material handling, order fulfillment, and inventory management.

The appeal of cobots lies in their ability to facilitate human-robot collaboration, fostering a synergistic relationship between human workers and robotic systems. Cobots are equipped with advanced sensors and safety features that allow them to detect and respond to the presence of humans, ensuring a secure working environment.

The trend towards cobots is expected to continue as businesses recognize the value of collaborative automation in improving efficiency, reducing labor costs, and addressing evolving market demands. As technology evolves, cobots will likely become more sophisticated, adaptable, and accessible, further expanding their application across various industries.

Segmental Insights

Component Insights

The Software segment emerged as the dominating segment in 2023. The integration of AI and machine learning (ML) software is a key driver for the smart robots market. AI algorithms enable smart robots to learn from data, recognize patterns, and make intelligent decisions in real-time. Machine learning algorithms enhance the robots' ability to adapt to changing environments, improving their performance over time. These software components are instrumental in tasks such as object recognition, path planning, and decision-making, making smart robots more versatile and adaptable across diverse applications. As AI and ML technologies continue to advance, the software segment is witnessing innovations that contribute to the development of more sophisticated and autonomous smart robots. The ability of these robots to analyze complex data sets and learn from experience is reshaping industries such as manufacturing, healthcare, and logistics.

Control and navigation software are essential components that enable smart robots to move, navigate, and perform tasks with precision. This software includes algorithms for motion planning, obstacle avoidance, and localization. Advanced control software allows robots to operate in dynamic environments, collaborate with humans, and execute tasks with a high degree of accuracy. The effectiveness of smart robots in industries like manufacturing and logistics heavily relies on their ability to navigate complex spaces and interact with their surroundings. Control and navigation software contribute to the development of robots capable of efficient and safe movement, reducing the need for human intervention in routine and repetitive tasks.

The human-machine interface (HMI) software is a critical aspect of smart robots, particularly in applications where robots collaborate with human workers. HMI software facilitates the interaction between humans and robots, providing an intuitive interface for programming, monitoring, and controlling robotic systems. In collaborative robot applications, HMI software ensures that human operators can easily communicate with and supervise the actions of smart robots. This includes features such as touchscreens, graphical user interfaces (GUIs), and programming environments that enable users to define tasks and workflows for the robots.

 


Download Free Sample Report

Regional Insights

North America emerged as the dominating region in 2023, holding the largest market share. North America is at the forefront of technological innovation, with a strong ecosystem of research and development in the fields of artificial intelligence and robotics. The region benefits from a well-established network of universities, research institutions, and technology companies that drive advancements in smart robot capabilities. The manufacturing sector in North America has been a pioneer in adopting smart robots for various applications, including assembly, welding, and material handling. The emphasis on increasing production efficiency, reducing operational costs, and maintaining a competitive edge has led to widespread adoption of smart robots in manufacturing facilities. The healthcare sector in North America is witnessing a growing need for automation, especially in tasks such as surgery, rehabilitation, and patient care. Smart robots are increasingly being integrated into healthcare systems to improve precision, enhance patient outcomes, and address the challenges posed by an aging population.

The adoption of collaborative robots, or cobots, is a notable trend in North America. Cobots are designed to work alongside humans, enhancing productivity and flexibility in manufacturing and other industries. The ability of cobots to collaborate with human workers is particularly appealing for businesses looking to optimize their operational workflows. North America is witnessing a significant shift toward Industry 4.0, where smart robots play a central role in creating connected and intelligent manufacturing ecosystems. The integration of smart robots with data analytics, the Internet of Things (IoT), and cloud computing is transforming traditional manufacturing processes into highly efficient and adaptive systems. The healthcare sector in North America is increasingly focusing on robotics to address challenges such as labor shortages and the need for precise medical procedures. Surgical robots, rehabilitation robots, and telepresence robots are gaining traction, contributing to advancements in patient care and medical technology. Governments in North America, at both the federal and state levels, are actively supporting initiatives related to robotics and automation. Funding for research and development projects, as well as incentives for businesses adopting smart robotic technologies, further accelerates the growth of the market.

The dynamics of the smart robots market in North America are influenced by ongoing technological advancements, industry collaborations, and the evolving needs of businesses across various sectors.  North America is expected to remain a global leader in driving innovation in artificial intelligence and robotics. Ongoing research and development efforts will lead to the creation of more advanced and sophisticated smart robots with enhanced capabilities. The adoption of smart robots is anticipated to expand across diverse industries beyond manufacturing, including healthcare, logistics, agriculture, and services. The versatility of smart robots makes them applicable to a wide range of tasks, contributing to their increasing prevalence in different sectors.

The North American smart robots market is characterized by robust technological innovation, a strong industrial base, and a dynamic ecosystem that fosters collaboration between academia, research institutions, and industry players. The region's commitment to advancing robotics technologies positions it as a key player in shaping the future of smart robots across diverse applications and industries.

Recent Developments

  • In November 2023, ABB Ltd. introduced the IRB 930 SCARA robot aimed at revolutionizing pick-and-place and assembly tasks. This new robot, available in three variants capable of managing payloads of 12 kg and 22 kg, is tailored to capitalize on emerging opportunities in both established and emerging markets.
  • In October 2023, Hikrobot showcased its innovations at Automation Expo, unveiling four new machine vision products and demonstrating their lineup of mobile robots. The event highlighted Hikrobot's commitment to advancing industrial Internet of Things (IIoT), smart logistics, and smart manufacturing solutions. 

Key Market Players

  • ABB Ltd
  • iRobot Corporation
  • Kuka Aktiengesellschaft
  • Fanuc Corporation
  • Yaskawa Electric Corporation
  • Omron Electronics, LLC
  • SGBI Inc.

By Component

By Mobility

By Application

By Region

  • Hardware
  • Software
  • Stationary
  • Mobile
  • Automotive
  • Manufacturing
  • Electrical & Electronics
  • Others
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Smart Robots Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Smart Robots Market, By Component:

o   Hardware

o   Software                    

  • Smart Robots Market, By Mobility:

o   Stationary

o   Mobile         

  • Smart Robots Market, By Application:

o   Automotive

o   Manufacturing

o   Electrical & Electronics

o   Others                

  • Smart Robots Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

§  Netherlands

§  Belgium

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

§  Thailand

§  Malaysia

o   South America

§  Brazil

§  Argentina

§  Colombia

§  Chile

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Smart Robots Market.

Available Customizations:

Global Smart Robots Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Smart Robots Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.         Product Overview

1.1.    Market Definition

1.2.    Scope of the Market

1.2.1.Markets Covered

1.2.2.Years Considered for Study

1.2.3.Key Market Segmentations

2.         Research Methodology

2.1.    Objective of the Study

2.2.    Baseline Methodology

2.3.    Formulation of the Scope

2.4.    Assumptions and Limitations

2.5.    Sources of Research

2.5.1.Secondary Research

2.5.2.Primary Research

2.6.    Approach for the Market Study

2.6.1.The Bottom-Up Approach

2.6.2.The Top-Down Approach

2.7.    Methodology Followed for Calculation of Market Size & Market Shares

2.8.    Forecasting Methodology

2.8.1.Data Triangulation & Validation

3.         Executive Summary

4.         Impact of COVID-19 on Global Smart Robots Market

5.         Voice of Customer

6.         Global Smart Robots Market Overview

7.         Global Smart Robots Market Outlook

7.1.    Market Size & Forecast

7.1.1.By Value

7.2.    Market Share & Forecast

7.2.1.By Component (Hardware and Software)

7.2.2.By Mobility (Stationary and Mobile)

7.2.3.By Application (Automotive, Manufacturing, Electrical & Electronics and Others)

7.2.4.By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)

7.3.    By Company (2023)

7.4.    Market Map

8.         North America Smart Robots Market Outlook

8.1.    Market Size & Forecast

8.1.1.By Value

8.2.    Market Share & Forecast

8.2.1.By Component

8.2.2.By Mobility

8.2.3.By Application

8.2.4.By Country

8.3.    North America: Country Analysis

8.3.1.United States Smart Robots Market Outlook

8.3.1.1.      Market Size & Forecast

8.3.1.1.1.    By Value

8.3.1.2.      Market Share & Forecast

8.3.1.2.1.    By Component

8.3.1.2.2.    By Mobility

8.3.1.2.3.    By Application

8.3.2.Canada Smart Robots Market Outlook

8.3.2.1.      Market Size & Forecast

8.3.2.1.1.    By Value

8.3.2.2.      Market Share & Forecast

8.3.2.2.1.    By Component

8.3.2.2.2.    By Mobility

8.3.2.2.3.    By Application

8.3.3.Mexico Smart Robots Market Outlook

8.3.3.1.      Market Size & Forecast

8.3.3.1.1.    By Value

8.3.3.2.      Market Share & Forecast

8.3.3.2.1.    By Component

8.3.3.2.2.    By Mobility

8.3.3.2.3.    By Application

9.         Europe Smart Robots Market Outlook

9.1.    Market Size & Forecast

9.1.1.By Value

9.2.    Market Share & Forecast

9.2.1.By Component

9.2.2.By Mobility

9.2.3.By Application

9.2.4.By Country

9.3.    Europe: Country Analysis

9.3.1.Germany Smart Robots Market Outlook

9.3.1.1.      Market Size & Forecast

9.3.1.1.1.    By Value

9.3.1.2.      Market Share & Forecast

9.3.1.2.1.    By Component

9.3.1.2.2.    By Mobility

9.3.1.2.3.    By Application

9.3.2.France Smart Robots Market Outlook

9.3.2.1.      Market Size & Forecast

9.3.2.1.1.    By Value

9.3.2.2.      Market Share & Forecast

9.3.2.2.1.    By Component

9.3.2.2.2.    By Mobility

9.3.2.2.3.    By Application

9.3.3.United Kingdom Smart Robots Market Outlook

9.3.3.1.      Market Size & Forecast

9.3.3.1.1.    By Value

9.3.3.2.      Market Share & Forecast

9.3.3.2.1.    By Component

9.3.3.2.2.    By Mobility

9.3.3.2.3.    By Application

9.3.4.Italy Smart Robots Market Outlook

9.3.4.1.      Market Size & Forecast

9.3.4.1.1.    By Value

9.3.4.2.      Market Share & Forecast

9.3.4.2.1.    By Component

9.3.4.2.2.    By Mobility

9.3.4.2.3.    By Application

9.3.5.Spain Smart Robots Market Outlook

9.3.5.1.      Market Size & Forecast

9.3.5.1.1.    By Value

9.3.5.2.      Market Share & Forecast

9.3.5.2.1.    By Component

9.3.5.2.2.    By Mobility

9.3.5.2.3.    By Application

9.3.6.Netherlands Smart Robots Market Outlook

9.3.6.1.      Market Size & Forecast

9.3.6.1.1.    By Value

9.3.6.2.      Market Share & Forecast

9.3.6.2.1.    By Component

9.3.6.2.2.    By Mobility

9.3.6.2.3.    By Application

9.3.7.Belgium Smart Robots Market Outlook

9.3.7.1.      Market Size & Forecast

9.3.7.1.1.    By Value

9.3.7.2.      Market Share & Forecast

9.3.7.2.1.    By Component

9.3.7.2.2.    By Mobility

9.3.7.2.3.    By Application

10.      South America Smart Robots Market Outlook

10.1. Market Size & Forecast

10.1.1.     By Value

10.2. Market Share & Forecast

10.2.1.     By Component

10.2.2.     By Mobility

10.2.3.     By Application

10.2.4.     By Country

10.3. South America: Country Analysis

10.3.1.     Brazil Smart Robots Market Outlook

10.3.1.1.   Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2.   Market Share & Forecast

10.3.1.2.1. By Component

10.3.1.2.2. By Mobility

10.3.1.2.3. By Application

10.3.2.     Colombia Smart Robots Market Outlook

10.3.2.1.   Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2.   Market Share & Forecast

10.3.2.2.1. By Component

10.3.2.2.2. By Mobility

10.3.2.2.3. By Application

10.3.3.     Argentina Smart Robots Market Outlook

10.3.3.1.   Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2.   Market Share & Forecast

10.3.3.2.1. By Component

10.3.3.2.2. By Mobility

10.3.3.2.3. By Application

10.3.4.     Chile Smart Robots Market Outlook

10.3.4.1.   Market Size & Forecast

10.3.4.1.1. By Value

10.3.4.2.   Market Share & Forecast

10.3.4.2.1. By Component

10.3.4.2.2. By Mobility

10.3.4.2.3. By Application

11.      Middle East & Africa Smart Robots Market Outlook

11.1. Market Size & Forecast

11.1.1.     By Value

11.2. Market Share & Forecast

11.2.1.     By Component

11.2.2.     By Mobility

11.2.3.     By Application

11.2.4.     By Country

11.3. Middle East & Africa: Country Analysis

11.3.1.     Saudi Arabia Smart Robots Market Outlook

11.3.1.1.   Market Size & Forecast

11.3.1.1.1. By Value

11.3.1.2.   Market Share & Forecast

11.3.1.2.1. By Component

11.3.1.2.2. By Mobility

11.3.1.2.3. By Application

11.3.2.     UAE Smart Robots Market Outlook

11.3.2.1.   Market Size & Forecast

11.3.2.1.1. By Value

11.3.2.2.   Market Share & Forecast

11.3.2.2.1. By Component

11.3.2.2.2. By Mobility

11.3.2.2.3. By Application

11.3.3.     South Africa Smart Robots Market Outlook

11.3.3.1.   Market Size & Forecast

11.3.3.1.1. By Value

11.3.3.2.   Market Share & Forecast

11.3.3.2.1. By Component

11.3.3.2.2. By Mobility

11.3.3.2.3. By Application

11.3.4.     Turkey Smart Robots Market Outlook

11.3.4.1.   Market Size & Forecast

11.3.4.1.1. By Value

11.3.4.2.   Market Share & Forecast

11.3.4.2.1. By Component

11.3.4.2.2. By Mobility

11.3.4.2.3. By Application

12.      Asia Pacific Smart Robots Market Outlook

12.1. Market Size & Forecast

12.1.1.     By Value

12.2. Market Share & Forecast

12.2.1.     By Component

12.2.2.     By Mobility

12.2.3.     By Application

12.2.4.     By Country

12.3. Asia-Pacific: Country Analysis

12.3.1.     China Smart Robots Market Outlook

12.3.1.1.   Market Size & Forecast

12.3.1.1.1. By Value

12.3.1.2.   Market Share & Forecast

12.3.1.2.1. By Component

12.3.1.2.2. By Mobility

12.3.1.2.3. By Application

12.3.2.     India Smart Robots Market Outlook

12.3.2.1.   Market Size & Forecast

12.3.2.1.1. By Value

12.3.2.2.   Market Share & Forecast

12.3.2.2.1. By Component

12.3.2.2.2. By Mobility

12.3.2.2.3. By Application

12.3.3.     Japan Smart Robots Market Outlook

12.3.3.1.   Market Size & Forecast

12.3.3.1.1. By Value

12.3.3.2.   Market Share & Forecast

12.3.3.2.1. By Component

12.3.3.2.2. By Mobility

12.3.3.2.3. By Application

12.3.4.     South Korea Smart Robots Market Outlook

12.3.4.1.   Market Size & Forecast

12.3.4.1.1. By Value

12.3.4.2.   Market Share & Forecast

12.3.4.2.1. By Component

12.3.4.2.2. By Mobility

12.3.4.2.3. By Application

12.3.5.     Australia Smart Robots Market Outlook

12.3.5.1.   Market Size & Forecast

12.3.5.1.1. By Value

12.3.5.2.   Market Share & Forecast

12.3.5.2.1. By Component

12.3.5.2.2. By Mobility

12.3.5.2.3. By Application

12.3.6.     Thailand Smart Robots Market Outlook

12.3.6.1.   Market Size & Forecast

12.3.6.1.1. By Value

12.3.6.2.   Market Share & Forecast

12.3.6.2.1. By Component

12.3.6.2.2. By Mobility

12.3.6.2.3. By Application

12.3.7.     Malaysia Smart Robots Market Outlook

12.3.7.1.   Market Size & Forecast

12.3.7.1.1. By Value

12.3.7.2.   Market Share & Forecast

12.3.7.2.1. By Component

12.3.7.2.2. By Mobility

12.3.7.2.3. By Application 

13.      Market Dynamics

13.1. Drivers

13.2. Challenges

14.      Market Trends and Developments

15.      Company Profiles

15.1.  ABB Ltd

15.1.1.     Business Overview

15.1.2.     Key Revenue and Financials  

15.1.3.     Recent Developments

15.1.4.     Key Personnel/Key Contact Person

15.1.5.     Key Product/Services Offered

15.2.  iRobot Corporation

15.2.1.     Business Overview

15.2.2.     Key Revenue and Financials  

15.2.3.     Recent Developments

15.2.4.     Key Personnel/Key Contact Person

15.2.5.     Key Product/Services Offered

15.3.  Kuka Aktiengesellschaft

15.3.1.     Business Overview

15.3.2.     Key Revenue and Financials  

15.3.3.     Recent Developments

15.3.4.     Key Personnel/Key Contact Person

15.3.5.     Key Product/Services Offered

15.4.  Fanuc Corporation

15.4.1.     Business Overview

15.4.2.     Key Revenue and Financials  

15.4.3.     Recent Developments

15.4.4.     Key Personnel/Key Contact Person

15.4.5.     Key Product/Services Offered

15.5.  Yaskawa Electric Corporation

15.5.1.     Business Overview

15.5.2.     Key Revenue and Financials  

15.5.3.     Recent Developments

15.5.4.     Key Personnel/Key Contact Person

15.5.5.     Key Product/Services Offered

15.6.  Omron Electronics, LLC

15.6.1.     Business Overview

15.6.2.     Key Revenue and Financials  

15.6.3.     Recent Developments

15.6.4.     Key Personnel/Key Contact Person

15.6.5.     Key Product/Services Offered

15.7.  SGBI Inc.

15.7.1.     Business Overview

15.7.2.     Key Revenue and Financials  

15.7.3.     Recent Developments

15.7.4.     Key Personnel/Key Contact Person

15.7.5.     Key Product/Services Offered

16.      Strategic Recommendations

17.    About Us & Disclaimer

Figures and Tables

Frequently asked questions

down-arrow

The market size of the Global Smart Robots Market was USD 4.61 billion in 2023.

down-arrow

In 2023, the software component segment exhibited significant dominance. AI and machine learning (ML) software integration is a major driver for the smart robots market. AI algorithms enable smart robots to learn from data, recognize patterns, and make intelligent decisions in real-time. Additionally, machine learning algorithms improve the robots' adaptability to changing environments, enhancing their performance over time.

down-arrow

North America dominated the market in 2023 as the region is hub for technological innovation, with leading companies and research institutions driving advancements in artificial intelligence (AI), robotics, and automation. The region is home to major players in the smart robots market, including Boston Dynamics, a pioneer in advanced robotics technology..

down-arrow

Increasing Adoption of Robotics in Manufacturing and Surge in Demand for Collaborative Robots are the major drivers for the Global Smart Robots Market.

profile

Sakshi Bajaal

Business Consultant
Press Release

Smart Robots Market is expected to grow at a CAGR of 28.55% through 2029

Jun, 2024

Smart Robots Market is expected to grow owing to increasing adoption of automation in various industries, such as manufacturing, healthcare, and logistics throughout the forecast period