Global Smart Robots Market to be Driven by Rising Set of Application Areas

Press release   •   Jul 05, 2016 09:35 EDT

There has been a significant rise in demand for smart robot across the globe in the past few years owing to the increased need for automation felt by companies in several industrial operations and processes. The smart robot market is the center of analysis of a market research report by Transparency Market Research.

The report, titled “Smart Robots Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” provides a thorough and professional overview of the market and its crucial segments. The report presents a detailed view of the present state of the global smart robots market and evaluates the major growth opportunities and their projected impact on the development the market over the forecast period.

As companies invest substantially on the modernization of their infrastructures, to improve productivity and effectively operate in the increasingly competitive business scenario, the global market for smart robots will expand at a significant pace.

The global smart robots market is experiencing significant growth owing to the increasing application of smart robots across several industries. Some of the industries exhibiting rising demand for smart robots include healthcare, automotive, manufacturing, and a number of process industries are increasingly integrating smart robots across a range of application areas. With an increased set of application areas, the global smart robots market is expected to witness growth at a rapid pace over the report’s forecast period.

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However, high prices of smart robots and limited set of features are currently some of the major constraints for the market. Nevertheless, these limitations are being rapidly mitigated with several technological advancements and the entry of new companies in the market.

Of the key regional markets for smart robots examined in the report, North America and Europe, being the early adopters of major technological developments, also lead the global smart robots market. However, Asia Pacific is also expected to present manifold growth opportunities for the global smart robots market owing to the flourishing industrial sectors and increased focus of companies on modernizing their infrastructures. Moreover, Asia Pacific is also a prominent market for smart robots owing to the presence of some of the most influential smart robot manufacturers of the world, including Yaskawa Electric Corporation and Honda Motors Ltd. in the region.

The report also presents a thorough overview of the competitive landscape of the global smart robot market. It furnishes details regarding aspects such as business profile, finances, revenues, strengths and weaknesses, product portfolio, participation in mergers and acquisitions, and product and technological development for some of the major vendors operating in the market.

Some of the major vendors operating in the global smart robots market are Google, Inc.,, Inc., Honda Motors Ltd, Irobot Corporation, ABB Ltd., Adept Technology, Inc., Northrop Grumman Corporation, Lely Group, Yaskawa Electric Corporation, and Bluefin Robotics Corporation.

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.