Smart Robots Market by Product, Solution, and Geography - Forecast and Analysis 2021-2025

  • Published: Mar 2021
  • Pages: 120
  • SKU: IRTNTR40828
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The smart robots market has the potential to grow by USD 44.44 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 25.87%.

This smart robots market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (professional service robots, personal service robots, and collaborative robots), solution (software, service, and hardware), and geography (APAC, North America, Europe, South America, and MEA). The smart robots market report also offers information on several market vendors, including ABB Ltd., FANUC Corp., Husqvarna AB, Kawasaki Heavy Industries Ltd., L3Harris Technologies Inc., LG Electronics Inc., Midea Group Co. Ltd., OMRON Corp., QinetiQ Group Plc, and Yaskawa Electric Corp. among others.

What will the Smart Robots Market Size be in 2021?

Smart-Robots-Market-Market-Size-2020-2025

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Smart Robots Market: Key Drivers and Trends

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increasing focus of companies on factory automation is notably driving the smart robots market growth, although factors such as high cost of smart robots may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the smart robots industry get your FREE report sample now.

  • Many companies are replacing human labor with smart robots such as collaborative robots and professional robots, which have advanced technologies, including artificial intelligence (AI), machine learning (ML), and analytics. 
  • Collaborative robots can perform tasks such as order pick and place, packaging and palletizing, machine tending, and quality inspections.
  • Smart robots with AI have decision-making capabilities related to operations and can solve issues that occur in the assembly and manufacturing processes.
  • Industries such as automotive, consumer electronics, healthcare, and industrial are significantly deploying smart robots owing to the mentioned beneficial functions. 
  • Automotive manufacturers are increasingly deploying smart robots to increase the production yield, which is one of the key smart robots market trends.
  • Smart robots can perform various functions such as welding, painting, material removal, assembly, part transfer, and machine learning during automotive manufacturing.
  • The use of smart robots in automotive manufacturing reduces production time and labor costs.
  • The high growth potential of the smart robots market is encouraging venture capitalists to invest in robotic companies.

This smart robots market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Smart Robots Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • FANUC Corp.
  • Husqvarna AB
  • Kawasaki Heavy Industries Ltd.
  • L3Harris Technologies Inc.
  • LG Electronics Inc.
  • Midea Group Co. Ltd.
  • OMRON Corp.
  • QinetiQ Group Plc
  • Yaskawa Electric Corp.

 

The smart robots market is fragmented and the vendors are deploying growth strategies such as product differentiation and technology innovation to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the smart robots market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Smart Robots Market?

Smart-Robots-Market-Market-Share-by-Region-2020-2025

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41% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for smart robots in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The rise in the focus of end-users on home automation and factory automation will facilitate the smart robots market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Product Segments in the Smart Robots Market?

Smart-Robots-Market-Market-Share-by-Product-2020-2025

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The smart robots market share growth by the professional service robots segment will be significant during the forecast period. One of the major reasons for the growing demand for professional service robots is the rise in the deployment of smart robots in warehouses. Many companies are utilizing smart robots in their warehouses for automating the work, such as delivering parcels from one place to another and loading or unloading materials. 

Besides the above-mentioned factors, the post COVID-19 impact has fast tracked the demand for professional service robots, especially from the healthcare industry. Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the smart robots market size.

 

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What are the Key Factors Covered in this Smart Robots Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive smart robots market growth during the next five years
  • Precise estimation of the smart robots market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the smart robots industry across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of smart robots market vendors

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Smart Robots Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 26%

Market growth 2021-2025

$ 44.44 billion

Market structure

Fragmented

YoY growth (%)

10.35

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 41%

Key consumer countries

US, China, Japan, Germany, and South Korea (Republic of Korea)

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ABB Ltd., FANUC Corp., Husqvarna AB, Kawasaki Heavy Industries Ltd., L3Harris Technologies Inc., LG Electronics Inc., Midea Group Co. Ltd., OMRON Corp., QinetiQ Group Plc, and Yaskawa Electric Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The smart robots market growth will increase by $44439.77 million during 2020-2025.
The smart robots market is expected to grow at a CAGR of 25.87% during 2020-2025.
Technavio has segmented the smart robots market by product (Professional service robots, Personal service robots, and Collaborative robots) and geographic (APAC, North America, Europe, South America, and MEA).
ABB Ltd., FANUC Corp., Husqvarna AB, Kawasaki Heavy Industries Ltd., L3Harris Technologies Inc., LG Electronics Inc., Midea Group Co. Ltd., OMRON Corp., QinetiQ Group Plc, Yaskawa Electric Corp. are a few of the key vendors in the smart robots market.
APAC will register the highest growth rate of 41.25% among the other regions. Therefore, the smart robots market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • China
  • Japan
  • Germany
  • South Korea (Republic of Korea)
The key factors driving the smart robots market growth are:
  • Increasing focus of companies on factory automation
The smart robots market vendors should focus on grabbing business opportunities from the professional service robots segment as it accounted for the largest market share in the base year.
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