Smart Robots Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, September 12, 2024 /EINPresswire.com/ -- The smart robots market has experienced robust growth in recent years, expanding from $13.79 billion in 2023 to $17.46 billion in 2024 at a compound annual growth rate (CAGR) of 26.6%. The growth in the historic period can be attributed to growth in demand for automation and labor cost reduction, expansion of industries requiring robotic automation (manufacturing, healthcare, logistics, etc.), increased adoption of collaborative robots (cobots) for human-robot interaction, focus on safety and efficiency in manufacturing and industrial processes, advances in sensing and perception technologies for robotics, need for precision and accuracy in complex tasks.

Strong Future Growth Anticipated
The smart robots market is projected to continue its strong growth, reaching $39.49 billion in 2028 at a compound annual growth rate (CAGR) of 22.6%. The growth in the forecast period can be attributed to adoption of robots in healthcare for surgical and rehabilitation applications, expansion of smart manufacturing and industry 4.0 initiatives, research and development in swarm robotics and multi-robot systems, need for robots in hazardous environments (nuclear, oil & gas, etc.), emphasis on smart agriculture and autonomous farming practices, growing demand for last-mile delivery robots in e-commerce.

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Growth Driver Of The Smart Robots Market
The increasing penetration of industrial robots is predicted to boost the growth of the smart robot market over the coming years. Industrial robots are programmable, automated machines designed to perform tasks in manufacturing, assembly, or other industrial processes. These smart robots can perform a wide range of tasks with higher precision and adaptability, making them invaluable in manufacturing, logistics, healthcare, and various other sectors.

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Major Players And Market Trends
Key players in the smart robots market include Puresight Systems Pvt. Ltd., SoftBank Robotics Group, ABB Group, KUKA AG, FANUC India Pvt Ltd., HaHanson Robotics Limited., Yaskawa Electric Corporation.
Major companies operating in the smart robot market are developing advanced products, such as the small industrial robots, to meet larger customer bases, more sales, and increase revenue. Small industrial robots are compact robotic systems designed for precise and specialized tasks in industrial applications.

Segments:
1) By Component: Hardware, Software, Services
2) By Product: Professional Service Robots, Personal Service Robots, Collaborative Robots
3) By End-User: Industrial, Residential, Commercial
4) By Application: Manufacturing, Healthcare, Defense, Energy and Utility, Other Applications

Geographical Insights: North AmericaLeading The Market
North America was the largest region in the smart robots market in 2023. Asia Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the smart robots market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Smart Robots Market Definition
A smart robot is a computerized reasoning (AI) device that is capable of observing its environment and context and producing its skills in the light of the comprehensive learning process. Smart robots are used for research, manufacturing and even human applications.

Smart Robots Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Smart Robots Global Market Report 2024by The Business Research Company is the most comprehensive report that provides insights on smart robots market size, smart robots market driversand trends, smart robots market major players, smart robots competitors' revenues, smart robots market positioning, and smart robots market growth across geographies. The smart robots market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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