Smart robots are devices that are programmed to work efficiently with the help of artificial intelligence or AI. It can also collaborate with human beings to make production rate go high and precise with less room for any kind of error. Market Research Future (MRFR) in their global analysis of the market reveals that the market can notably impact several end-user industries by improving their production rate and increasing their profit margin.
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Several factors are expected to set the coming days of the global smart robot market. Growing inclusion of AI and rise in digitalization are expected to make sure that the smart robot market gets better space for its expansion plan. But insecure networks can deter the market growth as that can let hackers tweak the robot. However, increasing government initiatives and surge in demand for residential projects like smart homes and smart cities can boost the global market growth.
Multiple companies are showing keen interest in taking the global smart robot market as they have realized the potential of it. In the coming years, this market could witness multifold hike as more and more people are expected to avail benefits of smart robots. MRFR profiled several companies to understand scope for better market permeation in the coming years. These companies are iRobot Corporation (US), Honda Motor (Japan), GreyOrange pte Ltd (Singapore), Seiko Epson Corporation (Japan), F&P Personal Robotics (Switzerland), Rethink Robotics (US), KUKA AG (Germany), Yaskawa Electric Corporation (Japan), SoftBank Robotics (Japan), and FANUC (Japan).
In 2019, Ecovacs recently launched Deebot N79S that can be classed as a smart robot vacuum. The product is quite cheap and could enjoy a wider reach due to easy affordability. It can sense the floor obstacles and accordingly clean the entire floor without much intervention.
Component and vertical are two distinct segments that can be included in the study of the global smart robot market. This report further carries information regarding various factors that can ensure strong growth in the coming years.
By component, the market for smart robot includes power source, actuators, sensors, and control systems. The actuators segment covers pneumatic, electrical, hydraulic, piezoelectric, and ultrasonic. The Sensor segment includes gyroscope, position sensor, accelerometer, microphone, force/torque sensor, tilt sensor, and vision/image sensor.
By vertical, the market depends on manufacturing, automotive, food & beverage, electrical & electronics, residential, chemical, and entertainment. The automotive and food & beverage industries are expected to make remarkable contribution to the market growth.
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The Asia-Pacific region has the potential to lead the market during the forecast period. This can be attributed to the emerging economies showing substantial expenditure in the industrial development. Various countries are expecting an overhauling impact on their industries due to the amount of interest private investors and governments are showing. From governments, these industries are receiving subsidies to ensure better market traction. China, Japan, Thailand, and others are expected to make sure that smart robots proliferate diverse industries at a rapid pace. Increasing intake in the automotive sector and semiconductor industry are expected to boost the global market positively in the coming years.
North America can expect substantial market growth due to regional supremacy in innovation and technologies. Countries in the region showing substantial growth are the US, Canada, and Mexico. The US has a robust market presence due to its superior infrastructure, better investment capacity, and others. The country has several well-developed industries who are showing substantial demand for the smart robots. On the other hand, increasing number of individuals showing interests in opting for smart robots can be seen as a possible market influencer.
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