Transparency Market Research has published a new report "Smart Robots Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023" to its report store.
Albany, NY -- (SBWIRE) -- 08/05/2015 -- Smart robots are built to function autonomously without the need for human interference. These robots are increasing being applied in several areas such as healthcare, automotive industries, process industries and manufacturing industries among others. The market is expected to grow during the forecast period.
Browse Report with Full TOC at
The smart robots are embedded with artificial intelligence which allows them to function on their own. This factor is acting as a driver for the market. In addition, the rising demand for use of robots alongside humans is also aiding to the growth of the market. The smart robots are also being used in the healthcare sector in order to stay with the elderly patients and assist them for a faster recovery. Moreover, the ability of these robots to identify a problem and take a decision on their own to solve a problem is also fuelling the growth for smart robots market. Furthermore, the smart robots are faster and more efficient compared to humans, which gives them added advantages to function in manufacturing industries for better production of goods. These robots are embedded with sensors which enables them to analyze their environment and act accordingly. This enhances their ability to function safely in manufacturing sector. These factors are ensuring the demand for smart robots globally.
However, the smart robots can malfunction if a wrong algorithm is embedded in them. This can have a negative impact and can even pose harm to their surrounding environment. This is a major factor hindering the growth in the market. Moreover, the use of smart robots in manufacturing sectors is resulting in loss of jobs. This, in return is acting a restraint for the demand of smart robots. Moreover, the development of smart robots involves high expenditure in research and development. These factors are expected to slow the growth in the market.
The ongoing technological improvement in robotics is expected to lower the price of smart robotics and ensure commercial production of smart robots in future. Furthermore, the smart robots are expected to be used in the education sector for better understanding of robotics. These factors are expected to drive the smart robots market in future.
Inquiry Before Buying:
The smart robots market can be segmented into three parts: components, application and geography. By components the market can be segregated into hardware which includes sensors, control systems, power sources and actuators among others and Software.
In terms of Application, the smart robots are widely applicable across several areas such as automotive, industrial manufacturing, healthcare, food and beverages, logistics and defense sector among others.
North America and Europe are the early adapters of technology which ensures their dominances in the smart robots market. However, the Asia Pacific region is expected to witness robust growth due to the presence developing countries like China and India. Furthermore, the region also has several vendors of smart robots such as Honda Motors Ltd and Yaskawa Electric Corporation.
Some of the key players in the smart robots market include Irobot Corporation, Honda Motors Ltd, Adept Technology, Inc., Lely Group, Google, Inc., Amazon.com, Inc., Northrop Grumman Corporation, Bluefin Robotics Corporation, ABB Ltd. and Yaskawa Electric Corporation among others.
Latest Press Release Reports:
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
Middle East and Africa
This report provides comprehensive analysis of
Market growth drivers
Factors limiting market growth
Current market trends
Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter's five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
This report provides pin-point analysis for changing competitive dynamics
It provides a forward looking perspective on different factors driving or restraining market growth
It provides a six-year forecast assessed on the basis of how the market is predicted to grow
It helps in understanding the key product segments and their future
It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
It provides distinctive graphics and exemplified SWOT analysis of major market segments
Latest Articles Reports: http://www.transparencymarketresearch.com/articles.htm
About Transparency Market Research
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.