Smart Robot Market to Reach USD 51.2 Billion by 2031, Growing at 16.4% CAGR | SkyQuest Technology

Skyquest Technology
Smart Robot Market Size, Share, Growth Analysis, By Component(Hardware (Sensor, Actuator, Power Source, Control System)), By Type(Personal/Domestic Robots, Professional Robots), By Mobility(Mobile, Fixed/Stationary), By Application(Inspection, Maintenance, Material Handling, Sorting), By Operating Environment(Ground, Underwater), By End-User(Manufacturing, Healthcare, Agriculture, Military), By Region – Industry Forecast 2024-2031

Global Smart Robots Market size was valued at USD 10.3 Billion in 2022 and is poised to grow from USD 13.5 Billion in 2023 to USD 51.2 Billion by 2031, at a CAGR of 16.4% during the forecast period (2024-2031).

The increased demand for assistance in manufacturing and production facilities caused robots to be used. Robots can do labor-intensive manual tasks or dangerous human jobs more effectively and with fewer risks. Robots are being used by manufacturing companies in many different nations to replace human labour with intelligent robots, therefore saving labour expenses. According to statistics from The International Federation of Robotics (IFR), South Korea had the highest industrial robots’ adoption rate among all countries globally in 2017, with 710 robots employed for every 10,000 employees. Similarly, Singapore came second after South Korea concerning adopting industrial robots, having 658 robots per 10,000 workers.

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Stellar Interplay of Leaders and Visionaries in Smart Robotics

Ground-breaking smart robot manufacturers, for instance ABB, KUKA, and FANUC are redefining industrial applications in this vibrant sector. Blue River Technology and Savioke are two companies that focus on hotel and agriculture industries respectively by deploying recent advancements in artificial intelligence (AI) including machine learning. During this period, Universal Robots is moving ahead in collaborative robots also known as cobots which are in a way enhancing the human touch to technology. The healthcare industry is witnessing an enormous transformation as far as Robotic surgery procedures are concerned by Intuitive Surgical while Amazon Robotics is completely changing logistics that were becoming inefficient. This complex ecosystem demonstrates the dynamic interaction between seasoned leaders and quick-thinking entrepreneurs.

Dynamic Interplay of Industry Giants and Agile Trailblazers in Robotics

The global market for smart robots is a dynamic patchwork of creativity and rivalry. Industry titans like ABB, KUKA, and FANUC, known for their state-of-the-art automation solutions, are at the forefront. Companies like Savioke and Blue River Technology are showing the way to a future where AI and machine learning will dominate the hotel and farming sectors. Universal Robots is the leading collaborative robot (cobot) for enhanced human-robot interaction.

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Amazon Robotics is the best in logistics field as far as efficiency is concerned; Intuitive Surgical does well to keep up with modern technology in healthcare especially in terms of robotic assistance during surgical operations. This vibrant ecosystem demonstrates the rich interaction between seasoned pioneers and quick-thinking upstarts, propelling intelligent robotics forward on a global scale.

Dynamic Interplay of Industrial Powerhouses and Cutting-Edge Innovators in Smart Robot

ABB, a leader in the industry, improved factory productivity by revolutionising automation with its IRB series of robots. Robotic arms from KUKA are essential to worldwide auto manufacturing lines. Blue River Technology utilized AI for improved crop management by employing precision agriculture, resulting in its acquisition by John Deere. At present, the Savioke produced hotel service effectiveness has been increasing courtesy of Relay robots. SMEs like Universal Robots’ cobots- UR3 or UR5 for their adaptability and usability features. Intuitive Surgical’s da Vinci system is the industry leader for robotically assisted surgeries, unlike Amazon Robotics, which offers operational optimization by employing technologies in warehouses.

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Grand Symphony of Innovation and Agile Visionaries in the Global Market

The global market for smart robots is a prime example of the dynamic combination of competition and innovation. Manufacturing has been revolutionised by industry titans such as ABB, KUKA, and FANUC through enhanced automation that increases productivity and lowers risks. AI and machine learning are being used by up-and-coming companies like Blue River Technology and Savioke to revolutionise the hospitality and agriculture industries. Intuitive Surgical is a healthcare pioneer using robotic assistance in surgeries, whereas Universal Robots is a leader in collaborative robotics, bridging human-robot contact. Logistics are revolutionised by the efficiency of Amazon Robotics. The global evolution of intelligent robotics is driven by the dynamic interplay between established giants and agile trailblazers, exhibiting a rich tapestry of technological advancement and inventiveness.

Related Report:

Global Robotics Market

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