Pune, India -- (SBWIRE) -- 04/18/2018 -- Global Smart Robot Market accounted for USD 4.18 million in 2017 and is projected to grow at a CAGR of 24.1% the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.

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Market Drivers and Restraints:

Growing adoption of autonomous robots for professional services.
Emerging technological advancements in the field of robotics.
Increasing demand towards AI-based solutions.
High initial investment and maintenance costs.

Market Definition:

A smart robot is a computerized reasoning (AI) framework that can learn from its environment and condition, its experience, and fabricate its abilities in light of that encompassing learning. Smart robots are utilized for proficient, modern and also individual utilize. Furthermore, smart robots are customized uncommonly to deal with industrial applications, for example, automotive assembly, pool cleaning, machinery handling, and robotic pets among others.

Smart robots have substituted man in execution of assignments and tasks that are either risky or repetitive, where man is in fit for performing attributable to body restrictions, or undertakings that happen in outrageous situations, for example, space or the base of the ocean. Furthermore, smart robots are intended to do particular undertakings for individual, proficient, and mechanical applications, for example, elderly help, pool cleaning, and robotic pets among others. Smart robots make utilization of artificial intelligence (AI) and are operational without the need of human information sources. Smart robots can work freely on a predefined assignment and can likewise they can collaborate with individuals in different administration and mechanical applications to perform any specific task. According to Research firm International Data Corporation, by 2019, 30% of commercial service robotic applications will be in the form of a robot-as-a-service (RaaS) business model. This will help cut costs for robot deployment in the commercial sectors.

Competitive Analysis:

The global smart robot market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The report includes market shares of smart robot market for global, Europe, North America, Asia Pacific and South America.

Key Players:

The key players in the global smart robot market are Geckosystems, SoftBank, iRobot, KUKA, ABB, Hanson Robotics, Amazon.com, Honda Motor, FANUC, YASKAWA ELECTRIC, OMRON Adept Technologies, Samsung Electronics, Intuitive Surgical, Aethon, Rethink Robotics, Bluefin Robotics, GeckoSystems, BLUE FROG ROBOTICS, AIBrain, Brain Corp, CloudMinds, Energid Technologies, Furhat Robotics, H2O.ai, IBM, Liquid Robotics, Neurala, NVIDIA, Oxbotica among others.

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Market Segmentation:

The global smart robot market is based on component, industrial application, Service Application and geography.
Based on component, the global smart robot market is segmented into hardware and software. The hardware segment is further sub segmented into sensor, actuator, power source, control system/controller and others (body material and other electronic, electrical, and mechanical components).

Based on industrial application, the global smart robot market is segmented into automotive, electronics, food and beverages and others.

Based on service application, the global smart robot market is segmented into personal and professional. Personal segment is further sub segmented into domestic, entertainment and others. The professional segment is further sub segmented into defense & security, field, medical, underwater, logistics, telepresence, inspection & maintenance and others.

Based on geography, the global smart robot market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.

Research Methodology:

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.

Demand Side Primary Contributors: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.

Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.

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