Utilization of Internet of Things (IoT) in Robotics to Fuel Global Smart Robots Market

Published Date : Aug 01, 2016

ALBANY, New York, July 27, 2016 - MarketResearchReports.biz has added a new report, titled ‘Global Smart Robots Market 2016-2020,’ to its offering. This study explains the growth prospects as well as the current scenario of the market for smart robots. The report evaluates the market based on different parameters such as types of smart robots, trends, and geography. 

The report is a comprehensive study on the prime drivers, opportunities, and restraints in the market for smart robots. It also encapsulates an evaluation of the current technological developments taking place and their impact on the growth of this market. The Porter’s five forces model and in-depth profiles of chief players dominant in the market have also been presented in the report.

The market landscape section of the report throws light on the current size of the market and its predicted size by the end of the forecast period. In addition, the definition of smart robots has also been presented in this section of the study. The global smart robots market is predicted to rise at a whopping 20.65% CAGR between 2016 and 2020. 

Smart robots are manufactured to function in a self-governing manner and have artificial intelligence embedded into them. This helps them function on their own without the requirement of a human-machine interference. These robots are increasingly being deployed in automotive manufacturing and the healthcare industry.

The best example of smart robots as elaborated upon in the study is of robotic vacuum cleaners. Due to the increasing research and development by a number of vendors, cutting-edge vacuum cleaners, including advancements such as Wi-Fi-enabled robots, have been introduced in the market. Robotic vacuum cleaners are being highly demanded globally due to their increasing flexibility.

Moving further, the segmentation of the market for smart robots has been presented. In terms of type, the report segments the market into collaborative, smart mobile, and personal service robots. Amongst these, the segment of personal service robots led the market with a share of 60% in 2015. The growing demand for vacuum cleaners is a prime factor augmenting the growth of the segment of personal service robots.

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Geographically, the report segments the market into the Americas, Europe, the Middle East, and Africa (EMEA), and Asia Pacific (APAC). Of these, EMEA is poised to represent a share of approximately 39% in the market by 2020. The increasing demand for smart mobile robots from the automotive industry will drive the growth of this market in EMEA.

The market dynamics influencing the development of the global smart robots market come next in the report. The soaring cost of human labor globally is a chief factor fuelling the growth of this market. In addition, the use of the Internet of Things (IoT) in robotics is a prime growth opportunity seen in the market. However, the increasing issues in the performance of smart robots owing to battery constraints may inhibit their demand in the coming years.

As per the report, the prominent vendors in the global smart robots market are iRobot, LG Electronics, Neato Robotics, Samsung Electronics, Anybots Inc., Hajime Research Institutes Ltd., Robosoft Services, and Savioke Inc., among others.

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