Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Smart Robot Market to Grow at 23.7% CAGR to 2023


News provided by

ReportsnReports

26 Feb, 2018, 13:00 GMT

Share this article

Share toX

Share this article

Share toX

PUNE, India, February 26, 2018 /PRNewswire/ --

ReportsnReports.com adds Smart Robot Market is forecast to reach $14.29 billion by 2023 from $4.94 billion in 2018 at a CAGR of 23.7% during (2018-2023) driven by the growing adoption of autonomous robots for professional services, emerging technological advancements in the field of robotics, increasing investments toward industrial automation and growing government aid for R&D of AI-enabled robots.

Browse 77 Market Data Tables and 52 Figures spread through 157 Pages and in-depth TOC on "Smart Robot Market by Component (Hardware and Software), Industrial Application (Automotive, Electronics, and Food & Beverages), Personal Service Application, Professional Service Application, and Geography - Global Forecast to 2023" http://www.reportsnreports.com/reports/405623-smart-robots-market-by-component-software-hardware-application-collaborative-industrial-robots-personal-service-robots-professional-service-robots-by-geography-north-america-europe-apac-row-analysis-forecast-to-2020.html .

The key players in the smart robot market include SoftBank (Japan), iRobot (US), KUKA (Germany), ABB (Switzerland), Hanson Robotics (Hong Kong), Amazon.com (US), Honda Motor (Japan), FANUC (Japan), YASKAWA ELECTRIC (Japan), ECA (France), OMRON Adept Technologies (US), Samsung Electronics (South Korea), Intuitive Surgical (US), DeLaval (Sweden), Aethon (US), Rethink Robotics (US), Bluefin Robotics (US), Gecko Systems (US), BLUE FROG ROBOTICS (France), and Anki (US).

The smart robot market for electronics applications is expected to grow at the highest CAGR during the forecast period. With the increasing complexity of manufacturing processes and miniaturization of semiconductor and electronics equipment, there is an increase in the use of AI-based smart industrial robots. Smart robots in the electronics equipment industry are used for designing and planning stages of the manufacturing process; thereby creating a huge potential for the growth of the smart robot market in the near future.

Inquire for DISCOUNT on "Smart Robot Market by Component (Hardware and Software), Industrial Application (Automotive, Electronics, and Food & Beverages), Personal Service Application, Professional Service Application, and Geography - Global Forecast to 2023" research report at http://www.reportsnreports.com/contacts/discount.aspx?name=405623 .

The professional service applications held the largest share of the smart robot market, by service application in 2017. The market is expected to be driven by the increasing demand from defense and marine applications. The professional service application is also expected to grow faster during the forecast period. The rise in demand for personal services, adoption of IoT on a wide level, and huge potential in developing countries are expected to generate opportunities for the players in the smart robot market.

The Americas held the largest share of the Smart Robot Market in 2017. The Americas is the early adopter of smart robots for all major industrial and service applications, thereby resulting in the maximum demand for robots from this region. The market in APAC is expected to grow at the highest CAGR between 2018 and 2023. APAC is likely to adopt smart robots for almost all major industrial and service applications during the forecast period. As the elderly population in APAC countries, such as China and Japan, is on the rise, the region is expected to employ smart robots, e.g., humanoids for personal assistance and care giving applications. Also, the presence of a large number of manufacturing companies in China and Japan, along with the strong presence of automobile and electronics and semiconductor companies, is driving the growth of the smart robot market in this region.

The hardware component held a larger share of the smart robot market in 2017. The hardware components add major value to the overall smart robot cost; hence, the hardware segment accounted for a larger share of the overall smart robot market in 2017. Among different hardware components, control systems accounted for the largest market share in 2017.

Order a copy of "Smart Robot Market by Component (Hardware and Software), Industrial Application (Automotive, Electronics, and Food & Beverages), Personal Service Application, Professional Service Application, and Geography - Global Forecast to 2023" research report at http://www.reportsnreports.com/purchase.aspx?name=405623 .

This report includes the smart robot market statistics pertaining to the smart robot component, industrial application, service application, and geography, along with their respective market size. Major drivers, restraints, opportunities, and challenges pertaining to the smart robot market have been detailed in the report. Opportunities in the market have been defined for stakeholders, along with the details of the competitive landscape for the market leaders. Strategic profiling of the key players in the smart robot market has been done, and players' ranking has been provided and core competencies have been comprehensively analyzed.

The APAC would be the fastest-growing region in the smart robot market during the forecast period. The breakup of primaries conducted during the study is depicted below.

  • By Company Type: Tier 1 - 55%, Tier 2 - 20%, and Tier 3 - 25%
  • By Designation: C-Level Executives - 75% and Directors - 25%
  • By Region: Americas - 10%, Europe - 20%, APAC - 40%, and RoW - 30%

Another research titled Robot Software Market Global Forecast to 2022 says, the robot software market size is expected to grow from $1,142.2 million in 2017 to $7,527.1 million by 2022, at a CAGR of 45.8%. Recognition software is estimated to hold the largest market size in 2017 in the robot software market. Asia Pacific (APAC) is expected to have the highest growth rate during the forecast period in the robot software market by region. Companies such as ABB (Switzerland), AIBrain (US), Brain Corp (US), CloudMinds (US), Energid Technologies (US), Furhat Robotics (Sweden), H2O.ai (US), IBM (US), Liquid Robotics (US), Neurala (US), NVIDIA (US), Oxbotica (UK) have been profiled in this 132 pages research report available at http://www.reportsnreports.com/purchase.aspx?name=1354222 .

Explore more reports on Semiconductor and Electronics Market at http://www.reportsnreports.com/market-research/semiconductor-and-electronics/ .

About Us: 

ReportsnReports.com is an online market research reports library of 500,000+ in-depth studies of over 5000 micro markets. Not limited to any one industry, ReportsnReports.com offers research studies on agriculture, energy and power, chemicals, environment, medical devices, healthcare, food and beverages, water, advanced materials and much more.

Contact:
Hrishikesh Patwardhan
2nd Floor, Metropole Building,
Next to Inox Theatre,
Bund Garden Road, Pune - 411001.
Maharashtra, India.
+1-888-391-5441
sales@reportsandreports.com

Connect with Us:  

LinkedIn: http://www.linkedin.com/company/reportsnreports

RSS/Feeds: http://www.reportsnreports.com/feed/l-latestreports.xml

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.