Smart Robot Market Surges: Revenue Set to Reach $17,561M by 2025, With 19.6% CAGR

WILMINGTON, DELAWARE, UNITED STATES, March 22, 2024 /EINPresswire.com/ -- Smart Robot Market Size, Share, Competitive Landscape and Trend Analysis Report by Component, Application, Industry Vertical - Global Opportunity Analysis and Industry Forecast, 2018-2025

The Global Smart Robot Market is expected to value at $4,057 million in 2017, and is projected to reach $17,561 million by 2025, registering a CAGR of 19.6% from 2018 to 2025.

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Smart robot is a reprogrammable, multifunctional manipulator designed to move material, parts, tools, or specialized devices through various programmed motions for the performance of a variety of tasks. Autonomous robot uses coding algorithm to perform a specified operation and changes its working in accordance with the changes made in the programming. By use of advanced technology, a smart robot can help people overcome daily obstacles or to teach children, and are majorly used in the industry vertical applications. Some smart robots can replace jobs where human interaction is difficult such as industrial welding, investigation of volcanoes, underwater exploration, and deep space exploration. For specific movements in the operation such as assembling and spot welding, many robots use the pneumatic or air pressure pistons in particular directions.

The increase in field of automation, the rise in demand for robotic advancement for connected world and capability of robots to identify the breakdowns in the industry fuel the growth of the market. In addition, strong government initiative for the factory automation also contribute to the market growth. However, higher manufacturing cost and insecurities regarding the robots hamper this stated growth.

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Competitive Analysis:
The smart robot industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

Some of the major key players of the smart robot market include,
● GREYORANGE PTE LTD.,
● RETHINK ROBOTICS,
● KUKA,
● ASEA BROWN BOVERI LTD. (ABB),
● IROBOT CORPORATION,
● F&P PERSONAL ROBOTICS,
● SEIKO EPSON CORPORATION,
● SOFTBANK ROBOTICS,
● YASKAWA ELECTRIC,
● FANUC

Top Impacting Factors:
Developments in automotive sector, use of robots in agriculture sector and government regulation boost the growth of the smart robot market. In addition, factors such as growth in industrial automation, advancement of robotics for connected and digital world, and strong government funding for automation solutions, high manufacturing cost, insecure connections with robots, difficulty of reprogramming, regular maintenance, and software updates of the system are anticipated to either drive or hamper the market growth.

Research Methodology:
The research uses both primary and secondary research to assemble data on the various facets of the international security screening market. Using interviews or surveys, primary market research has been used to collect highly authenticated data from direct sources, such as consumers in a particular market. Secondary market research is a method for gathering information from previously released data that has been produced by international organizations, business groups, government and research institutions, and so on.

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Key Benefits for Stakeholders:

● This study comprises of the analytical depiction of the global smart robot market with current trends and future estimations to depict the imminent investment pockets.
● The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
● The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
● The current market is quantitatively analyzed from 2018 to 2025 to benchmark the financial competency.
● Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

About Us:
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

David Correa
Allied Market Research
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