Global Smart Robot Market was valued at USD 3.5 Billion in the year 2017. Global Smart Robot Market is further estimated to grow at a CAGR of 25.3% from 2019 to reach USD 21.35 Billion by the year 2025. Asia-Pacific region holds the highest Market share in 2017 and Asia-Pacific Market is considered as the fastest growing Market in the forecasted period. At country level China, Japan, India are projected to grow strongly in the coming years.
Major market players in the Smart Robot Market are Robot Corp., LG Electronics Inc., Samsung Electronics Co. Ltd., Israel Aerospace Industries, Lockheed Martin Corp, The Boeing Company, ABB Group, KUKA Aktiengesel lschaft, Rethink Robotics, Universal Robots, Northrop Grumman Corp, and other 8 more companies detailed information is provided in the report. Rising research and development expenses to cater changing demand of end users, similarly growth strategies such as acquisition, merger and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
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SWOT Analysis of Smart Robot Market:
Adoption of IoT across the globe
Higher Cost and maintenance
Growth in Automation Market
Government Regulations and norms.
The Global Smart Robot Market is segmented on the basis of service, application, technology and region. The major shares of the Market comes from Electronics, by application in Global Smart Robot Market. On the other hand, Professional, by service for this Market is expected to grow at highest CAGR during year 2019-2025.
Smart Robot Market Segmentation:
*Food & Beverages
o Rest of Europe
o Rest of Asia-Pacific
o Latin America
o Middle East & Africa
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This post was originally published on The Picayune Current