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Smart Robots Market to Hit $7.85B by 2020
July 24, 2015 | PRNewswireEstimated reading time: 2 minutes
According to a new market research report "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", published by MarketsandMarkets, the total Smart Robots Market is expected to reach USD 7.85 Billion by 2020, at an estimated CAGR of 19.22% between 2015 and 2020.
Browse 70 market data Tables and 71 Figures spread through 200 Pages and in-depth TOC on "Smart Robots Market"
Smart robots are the robotic systems which are capable to carry out operation without direct human intervention. They are currently being designed to perform autonomous tasks and work along with humans. The smart robots market for industrial applications consist of collaborative robots which are designed to work along with humans and they are adopted by various industrial sectors such as automotive, electronics among others. The collaborative robots market size is expected to reach USD 1.07 Billion by 2020. In the service industry, smart robots are used in different professional and personal applications.
The report also covers the segmentation of Smart Robots Market on the basis of software and hardware component. The hardware components are further segmented into sensors, actuators, power source, and controller systems among others. The software market size for smart robots is expected to grow at a CAGR of 30.24% from 2015 to2020.
The Smart Robots Market for different geographic regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW), has also been covered in the report. The North American region comprised the largest market for smart robots as of 2014.
The report profiles the major players along with their SWOT analysis in the smart robots market. The market has been witnessing a series of new product launch announcements and partnerships across the value chain. The key players includes iRobot Corporation (U.S.), DeLaval (Sweden), Lely (The Netherlands), KUKA AG (Germany), Amazon (U.S.) Honda (Japan), Kongsberg Maritime (Norway), Google Inc. (U.S.) among others.
About MarketsandMarkets
MarketsandMarkets is world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. 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.
M&M'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. The new included chapters on Methodology and Benchmarking presented with high quality analytical info graphics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
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