The report is titled as ‘Smart Robots Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the smart robots market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market. The smart robots market is expected to grow with significant rate in the near future.
The global smart robots market in 2020 is estimated for more than US$ 5.9 Bn and expected to reach a value of US$ 30.1 Bn by 2028 with a significant CAGR of 22.6%
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Smart Robots Introduction
In the present-day world, robots have replaced the application of humans in various industries in accomplishment of jobs that are repetitive, dangerous, or where humans are incompetent of operating owing to body restraints, or jobs that need to be performed in extreme environments such as the bottom of the sea or outer space.
In addition, the robots are designed technologically advanced and smart in order to carry out specific tasks in an efficient and easy manner, which further adds to its numerous applications in various industries.
A smart robot can be perceived as an artificial intelligence (AI) that carries the potential to learn from its personal experience and the surroundings and creates its knowledge and capabilities on the basis on personal’s understanding. It is not necessary that robots are meant to replace the job of man as it can also work alongside the humans and learn from their behavior. Owing to which, smart robots are projected to witness huge demand in several different industries in the forthcoming years.
Smart Robots Market Dynamics
The penetration of artificial intelligence (AI) in numerous industries all across the world and growing demand for applications of AI is one of the key factors that is expected to elevate the growth of the global smart robots market in the near future.
Along with that, the constantly developing domestic service sector in present times and penetration of smart robots in the e-commerce sector is also projected to propel the growth of the global smart robots market in the forthcoming years. In addition to that, the global adoption of smart robots in giant industries like healthcare and hospitality industries, specifically for the elderly assistance, is further expected to give a positive push to the growth of the global smart robots market during the forecast timeframe.
Moreover, the huge potential of smart robots to learn and develop their abilities on their own on the basis of personal understanding and from surroundings is also escalating its demand in the global market, thereby boosting the growth of the global smart robots market.
However, the money-exhaustive initial investment and risk of malfunction are few factors that may hold back the growth of the global smart robots market in the coming years.
Smart Robots Market Key Players
Some of the key participating players in the smart robots market are
OMRON Adept Technologies
BLUE FROG ROBOTICS
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Smart Robots Market Segmentation
The smart robots market is segmented on the basis of component, industry, service application, and region.
ï‚§ Tilt Sensor
ï‚§ Force/Torque Sensor
ï‚§ Position Sensor
ï‚§ Vision/Image Sensor
ï‚§ Power Source
ï‚§ Control System/Controller
Food & Beverages
By Service Application
o Defense and Security
o Inspection and Maintenance
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