Smart Robots Market Size

The global smart robots market size was valued at $16.38 billion in 2024 and is projected to reach $61.31 billion by 2030, growing at a CAGR of 24.6% during the forecast period.

Smart Robots Market Overview

Smart robots, also known as intelligent robots, are advanced machines that incorporate various technologies to enhance their capabilities for perception, decision-making, and interaction with their surroundings. These robots are designed to perform tasks autonomously or with minimal human intervention. Smart robots are equipped with a variety of sensors, such as cameras, LiDAR, ultrasonic sensors, and more, which enable them to perceive and understand their environment. They can detect objects, obstacles, people, and even changes in their surroundings. Smart robots have the ability to make decisions and perform tasks without continuous human guidance. They can navigate autonomously, plan routes, and adapt to changes in their environment. hey play a pivotal role in automation, AI integration, and the development of robotic systems that can work alongside humans.

Smart Robots Market Dynamics

• The smart robots market is expected to witness significant growth in the future due to growing integration of IoT in robots, rising funding for research on robots, and the increasing adoption of robots for new applications. 

• Additionally, increasing demand for local production and consumption and rising adoption of autonomous robots for professional services are the prominent factors driving the growth of the Smart Robots market demand. 

• However, the data privacy concerns and stringent regulations are restraining the market growth. 

• On the contrary, labor shortage due to the COVID-19-responsive ban on migration, new developments in robotics technology, a rise in the inclination for industrial robots for cost-efficient predictive maintenance are creating opportunities for the market growth.

Impact of COVID-19 on the Smart Robots Market

The global economy has experienced a significant contraction due to the COVID-19 pandemic, leading to a decrease in the demand for domestic robots. However, various governments, particularly in developed countries, have initiated efforts to deploy robots for tasks such as sanitizing buildings, providing assistance in medical facilities, and offering support to isolated patients. China has been at the forefront of implementing robots to combat COVID-19, with a collaboration between Meituan Dianping, a Chinese consumer delivery application, and UNIDO's Investment and Technology Promotion Office (ITPO) in Shanghai. They have expanded contactless delivery options using autonomous vehicles and robots. Similar initiatives involving the deployment of robots have been observed in various regions worldwide. For instance, in Denmark, Life Science Robotics (LSR) has created 'ROBERT,' a device incorporating a lightweight KUKA robot from Germany. ROBERT assists physiotherapists in training patients while maintaining social distancing measures.

By Application, the Professional Segment is projected to be the Largest Segment in the Smart Robots Market

The professional segment is projected to be the largest segment in the market during the forecast period. Professional robots have found extensive use in agricultural and field applications. These robots play a crucial role in monitoring and ensuring compliance with social distancing and lockdown measures. They are actively engaged in direct interactions with symptomatic patients, performing tasks such as temperature monitoring, logistics management, and material handling in healthcare facilities. Amid the COVID-19 pandemic, professional robots have garnered significant attention, particularly in the context of disinfecting buildings and premises. Additionally, in the quest to develop a COVID-19 vaccine, robots are once again being employed to handle samples, and AI-based robots are assisting in expediting data analysis to expedite the research and development process. The burgeoning e-commerce industry has driven a surge in demand for professional robots within warehouses and for the facilitation of delivery services.

By Geography, North America Region Holds the Dominant Position in the Market Revenue

North America region holds the dominant position in the Smart Robots market revenue due to the increasing need for smart robots across various end-use industries. These sectors include automotive, manufacturing, healthcare, food and beverages, consumer goods, and more. The growth in demand for robotics in the region can be attributed to advancements in technology, trade policies, and wage pressures. Automation has become a prevailing trend in North American nations, creating opportunities for the domestic and global development of robotics strategies. In the United States, venture capital firms are significantly channeling investments into startups specializing in robotics technology. This support is instrumental in driving the expansion of the robotics market in the United States and beyond.

Key Target Audience:

• Research Institutes and Organizations 

• ODM and OEM Technology Solution Providers

• Technology Investors 

• Raw Material and Manufacturing Equipment Suppliers 

• Electronic Design Automation (EDA) and Design Tool Vendors 

• Government and Other Regulatory Bodies 

• Assembly, Testing, And Packaging Vendors

List of the Key Players Profiled in the Report Includes:

• ABB    

• Samsung Electronics Co. Ltd          

• Epson America Inc

• FANUC Corporation       

• Honda Motor Company Ltd.            

• iRobot              

• KUKA AG                

• Aethon

• Amazon Inc              

• Bluefin Robotics             

• DeLaval              

• GeckoSystems             

• Hanson Robotics Ltd

• SoftBank Corporation

Recent Developments:

• In October 2022, ABB has launched its most compact industrial robot to date, opening up new opportunities for faster, highly flexible, and top-quality production of wearable smart devices. The IRB 1010, with its small footprint, exceptional payload capacity, and unmatched precision, empowers electronics manufacturers to enhance their automation capabilities and boost the production of products like smartwatches, earphones, sensors, and health trackers. 

• In September 2022, iRobot has unveiled the Roomba Comboo j7+, a highly advanced robot that serves as both a vacuum and mop. Alongside this innovation, iRobot introduces the iRobot OS 5.0 updates. Specifically designed for households with a mix of flooring, including carpets, rugs, and hard floors, the Roomba Combo j7+ distinguishes itself from other 2-in-1 robotic devices by seamlessly vacuuming and mopping in a single cleaning session, saving time and maintaining floors in a fresh and pristine condition. The iRobot OS 5.0 brings with it new features and digital enhancements that enhance intelligence and personalization across the company's range of connected robots.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Type:

• Service Robots 

• Industrial Robots

Market by, Operating Environment:

• Ground              

• Underwater/Marine

Market by, Mobility:

• Stationary

• Mobile

Market by, Component:

• Software

• Hardware

Market by, Application:

• Personal and Domestic

• Professional

Market by, Geography:

The smart robots report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:

• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis

• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis

• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis

• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis

• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

What can be explored with this research report:

• Understand the key trends that will drive the market and the challenges it faces in the current market scenario.

• Identify growth opportunities.

• Porter's five force analysis.

• In-depth analysis of market segments, and regions/countries predicted to observe promising growth.

• Historical and forecast size of the market in terms of revenue (USD Million).

• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.