Market Scenario
The smart robots are made for doing autonomous tasks and for working along with human being. In other words, smart robots are the mechanical devices which help humans for developing accuracy, flexibility, and reducing manual labor in industrial processes. Growth of industrial automation along with the ability of robots to predict breakdowns in the industry are likely to drive the Smart Robotics market during the forecast period. However, safety concerns due to complex high-level interfacing can limit the adoption of smart robots. High initial R&D expenditure can also contribute to the restrining factors of the smart robot market during the forecast period.
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Segments:
The segments of vertical and component have segmented the global smart robot market.
In terms of component segment, the market has included sensors, actuators, power source, and control systems. Actuators segment has included pneumatic, electrical, piezoelectric, hydraulic, and ultrasonic. At the same time, the sensor segment included a microphone, gyroscope, tilt sensor, accelerometer, position sensor, force/torque sensor, and vision/image sensor.
In terms of vertical segment, the smart robot market share has included manufacturing, automotive, food & beverage, electrical & electronics, residential, chemical, and entertainment.
Smart Robots Market: Region-wise Outlook
In terms of geography, North America and Europe, smart robots markets were the first smart robots markets that collected high shares in the past, and now these regions lead the overall market.
The Asia Pacific is poised to experience the most exponential development in the market owing to the infiltration of nations such as India and China in the smart robots market. Besides, this region also comprises numerous smart robot vendors such as Yaskawa Electric Corporation and Honda Motors Ltd, which will further boost the expansion of the market in the Asia Pacific. China, Japan, and South Korea might lead the global smart robot market in the Asia-Pacific region. The rising number of robot applications and the expansion in the semiconductor industries are motivating the smart robot market in Asia-Pacific during the assessment period.
Key players in the Report are:
The foremost players in the market are iRobot Corporation (US), Honda Motor (Japan), GreyOrange Ltd (Singapore), Seiko Epson Corporation (Japan), KUKA AG (Germany), Yaskawa Electric Corporation (Japan), Rethink Robotics (US), SoftBank Robotics (Japan), F&P Personal Robotics (Switzerland), and FANUC (Japan) among others.
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