According to a new market report by Lucintel, the future of the smart robot market looks promising with opportunities in services and industrial sectors. The smart robot market is expected to grow with a CAGR of 23% from 2019 to 2024. The major drivers for this market are growing adoption of autonomous robots for professional services, increasing investments for industrial automation, and technological advancement in the field of robotics.
In this market, smart robots are used in personal & professional service and various industrial applications, such as automotive, electronics, and food and beverage industries. Lucintel forecasts that automotive will remain the largest segment during the forecast period due to the increasing use of computer vision cameras in machinery vision and increasing use of big data. Proffesional service robot is expected to witness the highest growth over the forecast period.
Hardware, sensor, actuator, power source, and control system/controller are the major component for smart robots. North America will remain the largest region over the forecast period due to the early adoption of smart robots in various applications.
Softbank, Irobot, Kuka, ABB, Hanson Robotics, Amazon.Com, Honda Motor, Fanuc, Yaskawa Electric, Omron Adept Technologies are among the major companies in the smart robot market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the smart robot market by end use industry, component, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Smart Robots Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the smart robots market by end use industry, component, and region as follows:
By End Use Industry [$M shipment analysis for 2013 – 2024]:
• Service
o Personal
o Professional
• Industrial
o Automotive
o Electronics
o Food & Beverages
o Others
By Component [$M shipment analysis for 2013 – 2024]:
• Hardware
o Sensor
o Actuator
o Control system/controller
o Others
• Software
By Region [$M shipment analysis for 2013 – 2024]:
• North America
– United States
– Canada
– Mexico
• Europe
– Germany
– Italy
– UK
• Asia Pacific
– China
– Japan
– India
• Rest of the World

A more than 150 pages research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at [email protected].
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for the smart robots market by by end use industry (automotive, electronics, food & beverages, others personal, domestic, entertainment, professional, defense & security, field, medical, underwater, logistics, telepresence, inspection & maintenance), component (hardware, sensor, actuator, power source, control system/controller, others (body material and other electronic, electrical, and mechanical components), software) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?