Dallas, Texas, Dec. 17, 2020 (GLOBE NEWSWIRE) — The “Smart Robots Market by Component (hardware, software, services), Product (professional service robots, personal service robots, collaborative robots), Application (automotive, manufacturing, healthcare, defense, energy & utilities, food & beverages, others), and by Region, Global Forecast 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
The global smart robots market size is anticipated to reach at USD 186 billion by 2025. Smart robots is an emerging technology where-in the robots & automation systems share code and data for performing computation through networks building on evolving research in cloud computing. It uses the network to index images, map, and data helpful in driving trajectories, traffic and weather to evaluate spatial localization and take decisions. It has virtually unrestricted capabilities in terms of storage power and processing among the mature technology till date.
The extended usage of automated reasoning, big data, and machine learning technology, along with artificial intelligence and probabilistic logic has paved the way for a greater development of smart robotics past few years. Furthermore, the evolution of Internet of Things (IoT) has also fueled the growth momentum of the industry with its various applications in the advancements of the interactive software platform. The industry players operating within the smart robots market are investing significant resources to continuous product development in order to keep up with the market dynamics.
The global smart robots solution market contains hardware, software, and service segment. In 2019, the hardware segment is likely to hold a significant market share due to the growing requirements of hardware components such as sensors, actuators, power systems, control systems and communication systems. However, the solutions segment is anticipated to grow at a significant rate over the forecast period. Most of the industry participants within the smart robots market deliver professional services for managing the smart robots deployment. Also, these services ensure smoother and faster implementation, which enhances the value of business investments.
The global smart robots market has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
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The global smart robots solution industry is a wide range to North America, Asia Pacific, Europe, South America, and the Middle East & Africa. The Asia Pacific region is expected to be the prominent region with India as the largest smart robots market. Countries such as Japan, China, and South Korea are anticipated to be at the forefront in the adoption of smart robots owing to increased technological investment in the countries. Moreover, rising trend of cloud-based solution in medium and large industries propels the demand for smart robots in the region.
The major players of the global smart robots solution market are SoftBank, iRobot, KUKA, Hanson Robotics, Amazon, ABB, FANUC, YASKAWA ELECTRIC, Universal Robots, Blue Frog Robotics, Rethink Robotics, and more. The smart robots solution market is fragmented with the existence of well-known global and domestic players across the globe.