The Europe Smart Robots Market would witness market growth of 26.3% CAGR during the forecast period (2020-2026). The major drivers for the growth of the market are innovation and the expansion of technology. Consequently, the cost of smart robots is anticipated to reduce in the upcoming years. Additionally, the demand for smart robots is boosted by factors like aging population, mobile technology, and other smart devices integrating robotics. Moreover, supportive government grants and funds, venture capital investments, and the development of associated technologies are anticipated to bode well for the demand.
Smart robots are integrated with a high-sensitive sensor that observes the surrounding environment and provides features like self-learning and self-correction with the help of deep learning technology. The global COVID-19 pandemic is creating various developmental possibilities for the market. The strict social distancing norms and stay-at-home culture is significantly impacting the total number of the working population. As a result, manufacturers have been encouraged to choose smart robots to carry out the manual tasks generally performed by the workers. However, the high initial manufacturing and R&D expenditure costs may hinder the development of the Smart Robots market.
The revenue share of the smart robots market is boosted by the development of industrial automation and enhancement in robotics for a connected and digital world. On the other side, the growth of the market is restricted by insecure network connections. In spite of the insecure network connections, the market is anticipated to display many growth opportunities in the forthcoming years. The growing number of government initiatives and the growth of smart homes and smart cities are anticipated to present attractive opportunities for growth for enterprises to improve their existing smart robot product portfolio.
Based on Component, the market is segmented into Hardware and Software. Hardware segment is further segmented into Sensors, Actuators, Control systems, Power Sources and Others. Based on Mobility, the market is segmented into Mobile and Stationary. Based on Operating Environment, the market is segmented into Ground and Underwater. Based on End User, the market is segmented into Military & Defense, Logistics Management, Inspection & Maintenance, Field/Agricultural, Healthcare, Industrial, Domestic and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: Smart Robots Market in Europe is expected to register a CAGR of 26.3% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Kuka AG, FANUC Corporation, Yaskawa Electric Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Amazon.com, Inc., iRobot Corporation, SoftBank Group Corporation (SoftBank Robotics), Teradyne, Inc. (Universal Robots) and Hanson Robotics Limited.
By Component
By Mobility
By Operating Environment
By End User
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Companies Profiled
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