November 2, 2020

Smart Robot Market to Gain Prominence in Electronics Industry with Rising Demand

Industrial automation and robotics have grown considerably in recent years due to increased investment and research. Reports that investigate the semiconductors and electronics industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The market exhibits the potential to achieve an earning level of USD 15 billion by 2023, with the aid of a CAGR of 23 % in the forecast period.

The need to achieve production efficiencies and cost savings is driving the smart robot market globally. The presence of strong contenders is a vital factor adding to the growth of the market for smart robots. Moreover, increased demand traction for smart homes is expected to increase the market share for smart robots significantly.

Smart robots are viewed to have ceaseless advantages. Over time, they have become quicker, accurate and efficient. Reduced manual intervention and more reactive nature make modern robots highly dynamic. Market players are actively focusing on product innovation and adopting both organic and inorganic growth strategies to improve their market position. Collaboration and partnerships are expected to remain major industry trend during the forecast period. Nevertheless, rising threats from cyber attacks and increased incidences of robot misuse continue to rattle the robotics industry.

Global Smart Robot Market: Competition Analysis

MRFR in its report has mentioned some of the top-notch companies operating in the market iRobot Corporation (US), GreyOrange pte Ltd (Singapore), KUKA AG (Germany), SoftBank Robotics (Japan), FANUC (Japan), Honda Motor (Japan), Yaskawa Electric Corporation (Japan), Seiko Epson Corporation (Japan), F&P Personal Robotics (Switzerland) and Rethink Robotics (US).

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Global Smart Robot Market: Segmental Analysis

MRFR’s report includes a comprehensive segmental analysis of the market conducted based on vertical and component.

·         On the basis of vertical, The market has been segmented into manufacturing, food & beverage, residential, entertainment, electrical & electronics, automotive and chemical.

·         On the basis of component, The market has been segmented into sensors, control systems, actuators and power source. The sensor segment covers microphone, tilt sensor, position sensor, gyroscope, vision/image sensor, force/torque sensor and accelerometer. The actuators segment covers ultrasonic, piezoelectric, pneumatic, electrical and hydraulic.

Global Smart Robot Market: Regional Analysis

Key regions covered in the report include Asia Pacific (APAC), North America, South America, the Middle East & Africa (MEA) and Europe. Asia Pacific (APAC) is expected to remain a highly profitable market for smart robots over the next several years. In terms of revenue, countries such as Japan, China and South Korea are expected to make signification contribution to the APAC smart robot market. These countries are technologically advanced and present widespread robot application.

APAC is projected to retain its leading position the global smart robot market throughout the assessment period. Meanwhile, the North America smart robot market is anticipated to exhibit the highest growth during the assessment period. The US is home to some of major technology companies in the world, which have tremendous expertise in AI, machine learning and IoT. This is benefiting the smart robot market in North America. Additionally, increased adoption of smart robots in countries such as the US and Canada is reflecting favorably on the region’s market. Adoption of robotics in service and industrial application is also a major market driver.

Major Highlights of TOC Covers:

1.      Executive Summary

2.      Key Business Trends

3.      Regional Trends and Growth

4.      Product Trends

5.      End-use Trends

6.      Definition and Forecast Parameters

7.      Smart Robot Market Segmentation

8.      Smart Robot Market Landscape

9.      Vendor Matrix

10.  Company Profiles

11.  Business Overview

12.  Financial Data

13.  Product Landscape

14.  Strategic Outlook

15.  SWOT Analysis

16.  Regional Smart Robot Market Share

17.  Country Smart Robot Market Share

18.  Revenue and Sales Forecast

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