Posted in | News | Consumer Robotics

Smart Robots Market to Witness Prominent Growth Due to Increased Demands

The collaborative smart robots market size is expected to reach USD 1.07 Billion by 2020 whereas the software market size for smart robots is expected to grow at a CAGR of 30.24% from 2015 to2020 says this new 2015 research on robots that are getting 'smart'.

This report provides a bird's eye-view of the industry with regard to the smart robots market, along with the qualitative analysis of each and every aspect of the classification done on the basis of components, application, and geography. The report provides a forecast of the growth of the smart robots market between 2014 and 2020. The competitive landscape of the current market of smart robots has been analyzed completely based on the market share analysis of the key players. The competitive information provided in this report, includes market shares of the leading companies in the smart robots ecosystem and the key developments, core strategies deployed by various players, mergers and acquisitions, new product developments, collaborations, and joint ventures related to the same.

The adoption rate of smart robots for personal applications such as vacuum cleaning, pool cleaning, robotic pets, and elderly assistance, among others has increased due to the increase in the urban population and per capita income. This report is based on an extensive research study of the smart robots market and aims to analyze the entire market and all its sub segments through extensively detailed classifications. The demand for smart robots is likely to witness a prominent growth, thereby garnering the interest of the industry players across various verticals. The North American region is projected to be the fastest-growing market due to growing needs, growing economies, high adoption rate of smart robots across the different application areas such as industrial, professional service, and personal service applications.

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. 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.

Source: http://www.reportsnreports.com/

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit