The Latin America, Middle East and Africa Smart Robots Market would witness market growth of 31% CAGR during the forecast period (2020-2026).
A smart robot is developed with the help of AI (artificial intelligence) system that can acquire knowledge from its experience and its surroundings and build on its capabilities based on knowledge. Smart robots can work in collaboration with humans, learning from their actions, and working together with them.
Smart robots are extensively adopted in multiple areas like process industries, manufacturing industries, healthcare, and automotive industries, thereby boosting the growth of the smart robots market. Additionally, smart robots are capable of functioning on their own because of the presence of artificial intelligence in them, accelerating the growth of the smart robots market. Further, the growth of the smart robots market is pushed by the increasing demand for using robots along with human beings.
In addition, the utilization of smart robots in the healthcare industry for helping elderly patients for quick recovery is also boosting the development of the global market. Further, smart robots are capable to identify a problem and make a decision, hence boosting the growth of the smart robots market. However, the high cost associated with the manufacturing of smart robots is hampering the growth of the smart robots market. In addition to this, high utilization of smart robots results in the loss of jobs, which is further expected to hinder the growth of the smart robots market.
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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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.
Scope of the Study
Market Segments covered in the Report:
o Control systems
o Power Sources
By Operating Environment
By End User
• Military & Defense
• Logistics Management, Inspection & Maintenance
• Saudi Arabia
• South Africa
• Rest of LAMEA
• 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)
• Hanson Robotics Limited
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