The Smart Robot Market is expected to exceed more than US$ 14 Billion by 2024 at a CAGR of 24% in the given forecast period, according to the Smart Robot Market report by Market Research Engine.
A smart robot is an artificial intelligence (AI) system that can learn from its environment and its experience and build on its capabilities based on that knowledge. Increasing rate of adoption for personal applications such as elderly assistance, robotic pets, pool cleaning, and vacuum cleaning, among others. These robots are presently being designed to carry on autonomous tasks and for working along with human beings.
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Key players profiled in the report include Google, Amazon, Lenovo, Harman Kardon, FABRIQ, Invoxia, JAM Audio, Pan Ocean (HK) Technology Co., LTD. (Clazio), Sonos, Apple, LG, and Onkyo Corporation. Company profile includes assign such as company summary, financial summary, business strategy and planning, SWOT analysis and current developments.
The Smart Robot Market is segmented on the Basis of Product Type, Application Type, Component Type and Regional Analysis. By Product Type this market is segmented on the basis of Personal, Professional and Defence and Security. Personal is segmented into Domestic, Entertainment and Others. Defence and Security is segmented into Field, Medical, Underwater, Logistics, Telepresence, Inspection and Maintenance and Others. By Application Type this market is segmented on the basis of Automotive, Electronics, Food & Beverages and Others. By Component Type this market is segmented on the basis of Hardware, Sensor, Actuator and Software. Sensor is segmented into Gyroscope, Microphone, Accelerometer, Tilt Sensor, Force/Torque Sensor, Position Sensor, Vision/Image Sensor and Others. Actuator is segmented into Electrical, Pneumatic, Hydraulic, Piezoelectric and Ultrasonic. Power Source is segmented into Control System/Controller and Others.
Regional Analysis this market is segmented on the basis of North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The major restraining factors of Smart Robot Market are as follows:
- High Initial R&D Expenditure
The major driving factors of Smart Robot Market are as follows:
- Growing Adoption of Autonomous Robots for skilled Services
- Rising Technological Advancements within the Field of AI
- Increasing Investments Toward Industrial Automation
- Growing Government Aid for R&D of AI-Enabled Robots
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