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Smart Robot Market Worth 14.29 Billion USD by 2023


News provided by

MarketsandMarkets

22 Feb, 2018, 15:30 GMT

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PUNE, India, February 22, 2018 /PRNewswire/ --

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According to the new market research report on the "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", published by MarketsandMarkets™ , the market is valued at USD 4.94 Billion in 2018 and is expected to reach USD 14.29 Billion by 2023, at a CAGR of 23.7% between 2018 and 2023. The market is mainly driven by the factors such as growing adoption of autonomous robots for professional services, emerging technological advancement in the field of robotics, increasing investments toward industrial automation, and growing government aid for R&D of AI-enabled robots.

     (Logo: http://photos.prnewswire.com/prnh/20160303/792302 )

Browse 77 tables and 52 figures spread through 157 pages and in-depth TOC on "Smart Robot Market - Global Forecast to 2023"

https://www.marketsandmarkets.com/Market-Reports/smart-robots-market-48470534.html

Early buyers will receive 10% customization on this report

Smart robot market for software to grow at a higher CAGR during the forecast period 

The smart robot market for software is expected to grow at a higher CAGR during the forecast period. As technological advancements lead to the growing complexity in terms of features such as inter device connectivity, artificial intelligence (AI), and autonomous operations, the value of the software part in the overall smart robot market will increase more than that of hardware as software assists complex functionalities to process efficiently and accurately.

Automotive industrial application held a larger share of the smart robot market in 2017 

Among all major industrial applications, automotive held the largest share of 54.5% of the overall smart robot market in 2017. Extensive use of computer vision cameras in machinery inspection, installations of IIoTs, and use of big data are the factors driving the growth of the smart robot market for automobile applications.

Download PDF Brochure : https://www.marketsandmarkets.com/pdfdownload.asp?id=48470534

Professional service application to grow at faster rate during the forecast period 

The market for professional service applications is also expected to grow at a higher CAGR during the forecast period. Also, the professional service application accounted for the larger share in 2017. The market is expected to be driven by the increasing demand from defense and marine applications. As the demand for domestic, education and research, and personal assistance robots across the world is increasing, the market for personal service applications is also expected to grow at a significant rate.

Americas is the major consumer of smart robots 

The Americas accounted for the largest share of the overall smart robot market in 2016. 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.

Inquiry Before Buy @ https://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=48470534

The report profiles the most promising players in the market. The competitive landscape of the market is highly dynamic because of the presence of a significant number of big and small players. Key players in the market are 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), GeckoSystems (US), BLUE FROG ROBOTICS (France), and Anki (US).

Browse Related Reports 

Service Robotics Market by Operating Environment (Aerial, Ground, Marine), Application (Professional, Personal), and Geography (North America, Europe, Asia-Pacific, and Row) - Global Forecast to 2022
http://www.marketsandmarkets.com/Market-Reports/service-robotics-market-681.html

Collaborative Robots Market by Payload Capacity (Up to 5 kg, Up to 10 kg, Above 10 kg), Industry (Automotive, Electronics, Metals & Machining, Plastics & Polymer, Food & Agriculture, Healthcare), Application, and Geography - Global Forecast to 2023
https://www.marketsandmarkets.com/Market-Reports/collaborative-robot-market-194541294.html

Subscribe Reports from Semiconductor Domain @ http://www.marketsandmarkets.com/Knowledgestore.asp

About MarketsandMarkets™  

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

Visit Our Blog@ http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors

Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets

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