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Smart robots market to approach $7.85B in 2020

Posted: 28 Jul 2015 ?? ?Print Version ?Bookmark and Share

Keywords:smart robot? automotive? sensor? actuator?

MarketsandMarkets has released a report titled "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." According to the market research firm, the total smart robots market is expected to hit $7.85 billion by 2020, at an estimated CAGR of 19.22 per cent between 2015 and 2020.

Smart robots are the robotic systems capable of carrying out operation without direct human intervention. They are being designed to perform autonomous tasks and work along with humans. The smart robots market for industrial applications consist of collaborative robots that 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 $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 per cent from 2015 to 2020.

The key players includes iRobot Corp. (U.S.), DeLaval (Sweden), Lely (The Netherlands), KUKA AG (Germany), Amazon (U.S.) Honda (Japan), Kongsberg Maritime (Norway), Google (U.S.) among others.





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