Portland, March 26, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global smart robot market was estimated at $4.05 billion in 2017 and is expected to hit at $17.56 billion by 2025, registering a CAGR of 19.60% from 2018 to 2025. The report provides a detailed analysis of top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

Development in industrial automation, robotics advancement for connected & digital world, strong government funding for factory automation solutions and high-end robot capacity to predict breakdowns in the respective industry fuel the growth of the global smart robot market. On the other hand, high manufacturing cost and insecure connections restrain the growth to some extent. Nevertheless, incorporation of smart homes and increasing concern of workplace safety are expected to create multiple opportunities in the near future.

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The hardware segment to lead the trail till 2025-

Based on component, the hardware segment generated the highest market share in 2017, contributing to nearly three-fifths of the total revenue. On the other hand, the software segment is projected to grow at the fastest CAGR of 21.10% through 2018–2025.

The assembling & disassembling segment to dominate throughout the forecast period-

Based on application, the assembling & disassembling segment accounted for nearly one-third of the total market share in 2017 and is anticipated to rule the roost during the study period. Simultaneously, the welding & painting segment is predicted to showcase the fastest CAGR of 23.1% by 2025.

North America garnered the highest share in 2017-

Based on geography, North America contributed to nearly two-fifths of the total market revenue in 2017 and is expected to maintain its top status till 2025. At the same time, the Asia-Pacific region is anticipated to cite the fastest CAGR of 22.30% during the estimated period.

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Leading market players-

The key market players analyzed in the global smart robot market report include KuKa, ABB, Epson America, Inc., Rethink Robotics, F&P Personal Robotics, Grey orange pte ltd, SoftBank Robotics, Fanuc, Yaskawa Electric, iRobot Corporation, and Cyberdyne. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.

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