Smart Robot Market size worth $ 26.25 Billion, Globally, by 2026 at 23.6% CAGR: Verified


The rising adoption of industrial automation along with the advancements of robotic for the connected and digital world is driving the growth of the Global Smart Robot Market.

/EIN News/ — Jersey City, New Jersey, Sept. 30, 2021 (GLOBE NEWSWIRE) — Verified Market Research recently published a report, “Smart Robot Market” By Component (Hardware and Software), By Industrial Application (Automotive, Electronics, Food & Beverages, And Others), By Service Application (Domestic, Entertainment, Medical, Underwater, and Logistics), and By Geography. According to Verified Market Research, the Global Smart Robot Market size was valued at USD 4.83 Billion in 2018 and is projected to reach USD 26.25 Billion by 2026, growing at a CAGR of 23.6% from 2019 to 2026.

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Global Smart Robot Market Overview

Smart robots are criticized in the market because people think that they will take their job, but this is simply not the case. Smart robots have more advantages than disadvantages. Smart robots help in improving people’s lives and keep operations of the company running smoothly. There are various advantages of smart robots such as safety, speed, consistency, perfection, job creation, happier employees, productivity.

Global Smart Robot Market Overview The growth of the global Smart Robot Market is being driven by the rapid adoption of autonomous robots for professional services. With the advent of technology, various new technological advancements are happening in the field of robotics. Owing to this, the smart global market is growing at a fast rate.

Despite the growing demand for smart robots in numerous industries, the skyrocketing prices of these robots might hinder the growth of the market in the coming years. Furthermore, these robots have a tendency to malfunction in case a wrong algorithm is utilized them. This factor may negatively impact the growth of this market. Furthermore, the manufacturing of smart robots includes huge expenditure on research and development. All these factors might hamper the growth of the global Smart Robot Market.

Key Developments in Smart Robot Market

• iRobot announced a collaboration with Google in order to integrate robotic and smart home technologies that will advance the next-generation smart home.

• GreyOrange launched next-gen AI, GreyMatter, for robotics warehouse automation at new logistics center of Nitori, Japan’s largest home furnishing chain

• Northrop Grumman Remotec announced the launch of the Next-generation Andros FX Robot on Display at DSEI

The major players in the market are Irobot Corporation, Honda Motors Ltd, Adept Technology, Inc., Lely Group, Google, Inc.,, Inc., Northrop Grumman Corporation, Bluefin Robotics Corporation, ABB Ltd. and Yaskawa Electric Corporation, among others.

Verified Market Research has segmented the Global Smart Robot Market On the basis of Component, Industrial Application, Service Application, and Geography.

  • Smart Robot Market, By Industrial Application

    • Automotive
    • Electronics
    • Food & beverages
    • Others
  • Smart Robot Market, By Component
  • Smart Robot Market, By Service Application

    • Domestic
    • Entertainment
    • Medical
    • Underwater
    • Logistics
  • Smart Robot Market by Geography

    • North America
    • Europe

      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific

      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW

      • Middle East & Africa
      • Latin America

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6 major types of industrial robots engineered to offer limitless possibilities

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