Global Smart Robots Market is Expected to Reach US$ 12.84 Bn Growing at CAGR 21.5% during 2018-2023

The global smart robots market was valued at US$ 4.85 Bn in 2018 and is expected to reach US$ 12.84 Bn by the end of the forecast period, growing at a CAGR of 21.5% during the period from 2018 to 2023.

Dublin, United States - March 15, 2019 /MarketersMedia/ —

Smart robots are Artificial Intelligence systems that have the ability to learn from its environment with the help of sensors present in them and also improve their capabilities based on that knowledge. The devices can work in collaboration with humans and also learn from their behaviour and work alongside humans.

The major factors driving the growth of the smart robots market are their increasing use in several personal applications such as robotic pets, elderly assistance, and vacuum cleaning, among others. The robots are increasingly being adopted in manufacturing industries, healthcare, automotive, and process industries. Presently, robots are mainly designed to carry out autonomous tasks and also to work along with humans.

However, the high initial investment and increasing prices of these robots are expected to impede the market growth. As the robots are programmed, the chances are there that they can malfunction in case a wrong algorithm is used by them. This factor can discourage the adoption of smart robots and thereby, negatively impact the market.

The smart robots market for electronics application is expected to grow at a higher CAGR as compared to other applications. This growth is mainly fuelled by the fact that smart robots are being increasingly used in the electronics industry for the planning and design stages in the manufacturing process.

Geographically, North America currently has the highest share in the smart robots market. However, the Asia-pacific region is expected to show the highest CAGR, owing to the growing manufacturing and electronics industries in this region.

Ask for a sample copy of this report at https://www.inforgrowth.com/sample-request/1334629/smart-robots-market

Recent Developments in the Market:

Service Application (Personal): In Jan 2019, Trifo announces the launch of its new product Ironpie. Ironpie is a smart AI-powered vacuum cleaner. The product has 10 times more cleaning efficiency than competitive products and has better obstacle sensing technologies. The smart home robot also has a multi-sensory system of IRs and SONARS that enable it to function more efficiently than various environments. The product is much cheaper than the other products currently available in the market. The company is also trying to add new features such as integration with Alexa or Google Home, in order to make it an essential smart home robot.

China: In Sept 2017, KUKA to double its production capacity at the company’s Shanghai facility. China accounted for about 35%-38% of the company’s revenue in 2016. The company has doubled its operational capacity and will produce 20,000 robots in 2018. The company is shifting its focus from more mature European markets to China and other countries in the Asia-Pacific region. The company also expects that by 2020, it will generate 50% of its revenue from China.

ABB: In April 2018, ABB to invest € 100 million in a Global Innovation and Training Campus in Austria. The company has invested this money to start a new Global Innovation and Training Campus at its newly acquired B&R Campus (Bernecker + Rainer Industrie-Elektronik GmbH) at Austria. The new campus will develop technologies that can be used for the factory of the future, where production will be done autonomously by cloud-connected machines and smart robots. With this campus that is spread across 35,000 m², the company aims to strengthen its position in the machine and factory automation.

Key Questions Answered in the Report:
• What is the market value of the overall market and its segments?
• What are the key segments and sub-segments in the market?
• Which is the largest sub-segment in each segment in the scope of the study?
• What are the key drivers, restraints, opportunities, and challenges in the market and how are they expected to impact the market?
• What are the attractive segments and geographies to invest in?
• What is the market value at the regional and the country level?
• Who are the key market players and their key competitors?
• Who are the key market players at different stages of the value chain?
• What are the strategies for growth adopted by the key players in the market?
• How does a particular company rank against its competitors with respect to revenue, profit comparison, operational efficiency, cost competitiveness, and market capitalization?
• How financially strong are the key players in the market (on the basis of revenue and profit margin, market capitalization, expenditure analysis, investment analysis)?
• What are the recent trends in the market? (M&A, partnerships, new product developments, expansions)

Enquire more about this report at https://www.inforgrowth.com/enquiry/1334629/smart-robots-market

Contact Info:
Name: Mr. Rohan
Email: Send Email
Organization: InForGrowth
Address: 6400 Village Pkwy suite # 104, Dublin, CA 94568, USA
Phone: +1-909-329-2808
Website: https://www.inforgrowth.com/

Source URL: https://marketersmedia.com/global-smart-robots-market-is-expected-to-reach-us-12-84-bn-growing-at-cagr-21-5-during-2018-2023/492836

Source: MarketersMedia

Release ID: 492836

File says Smollett couldn't contact brothers after arrest

May 24, 2019

CHICAGO — One of Jussie Smollett's conditions after posting $10,000 bail amid charges he lied about being the victim of a racist, anti-gay attack was that he have no contact with two brothers police say he paid to help stage the incident, according to a case file unsealed Thursday in Chicago. Besides that detail, the "Empire" actor's criminal case file appears to contain little new information. The bulk of the more-than-250-page file centers on the legal battle between media organizations that wanted access to the file and Smollett's attorneys who wanted it kept sealed. In his order for the file...

US charges WikiLeaks founder with publishing classified info

May 24, 2019

WASHINGTON — The U.S. filed new charges Thursday against Wikileaks founder Julian Assange, accusing him of placing the United States at risk of serious harm by publishing thousands of secret and classified documents, including the names of confidential sources for American armed forces. In an 18-count, superseding indictment, Justice Department prosecutors allege that Assange directed former Army intelligence analyst Chelsea Manning in one of the largest compromises of classified information in U.S. history. The case presents immediate questions about media freedom, including whether the Justice Department is charging Assange for actions — such as soliciting and publishing classified information —...

Trade impasse: Trump pledges $16B to farmers; markets buckle

May 24, 2019

WASHINGTON — President Donald Trump is delivering another $16 billion in aid to farmers hurt by his trade policies, an effort to relieve economic pain among his supporters in rural America and another sign that the U.S.-China trade war likely won't end anytime soon. U.S. Agriculture Secretary Sonny Perdue said the first of three payments is likely to be made in July or August. He suggested it was unlikely a trade deal would be done by then, a sign that U.S. negotiators could be months away from settling a bitter trade dispute with China. "The package we're announcing today ensures...

The Latest: Calk lawyer: He's done 'nothing wrong'

May 24, 2019

NEW YORK — The latest on the charges against bank CEO Stephen Calk (all times local): 2:45 p.m. A lawyer for a banker charged in New York with trying to issue loans to win a role in President Donald Trump's administration says his client has done nothing wrong. Attorney Jeremy Margolis said in a statement Stephen Calk will be exonerated on the "baseless isolated charge" following the bank executive's arrest Thursday. He was charged with a financial institution bribery charge. Calk was CEO of Chicago's The Federal Savings Bank when allegedly approved $16 million in loans to former Trump campaign...

Bank CEO charged with trying to trade loans for Trump post

May 24, 2019

NEW YORK — A banker who prosecutors say tried to buy himself a senior post in President Donald Trump's administration by making risky loans to former Trump campaign chairman Paul Manafort was arrested Thursday on a financial institution bribery charge. Stephen M. Calk, 54, was scheduled to appear in Manhattan federal court in the afternoon. A message was left with his attorney for comment. Authorities said Calk committed the crime while serving as CEO of The Federal Savings Bank based in Chicago. Federal prosecutors described the charge in a release, saying Calk abused his bank position by approving $16 million...

About Us

Buzzing Globe explores the numerous events which causes a “buzz” to the everyday individual and to shed light onto these events.

Contact us: sales[at]buzzingglobe.com

Subscribe Now!