Dallas, Texas, Dec. 17, 2020 (GLOBE NEWSWIRE) — The “Smart Robots Market by Component (hardware, software, services), Product (professional service robots, personal service robots, collaborative robots), Application (automotive, manufacturing, healthcare, defense, energy & utilities, food & beverages, others), and by Region, Global Forecast 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
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The global smart robots market size is anticipated to reach at USD 186 billion by 2025. Smart robots is an emerging technology where-in the robots & automation systems share code and data for performing computation through networks building on evolving research in cloud computing. It uses the network to index images, map, and data helpful in driving trajectories, traffic and weather to evaluate spatial localization and take decisions. It has virtually unrestricted capabilities in terms of storage power and processing among the mature technology till date.
The extended usage of automated reasoning, big data, and machine learning technology, along with artificial intelligence and probabilistic logic has paved the way for a greater development of smart robotics past few years. Furthermore, the evolution of Internet of Things (IoT) has also fueled the growth momentum of the industry with its various applications in the advancements of the interactive software platform. The industry players operating within the smart robots market are investing significant resources to continuous product development in order to keep up with the market dynamics.
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The global smart robots solution market contains hardware, software, and service segment. In 2019, the hardware segment is likely to hold a significant market share due to the growing requirements of hardware components such as sensors, actuators, power systems, control systems and communication systems. However, the solutions segment is anticipated to grow at a significant rate over the forecast period. Most of the industry participants within the smart robots market deliver professional services for managing the smart robots deployment. Also, these services ensure smoother and faster implementation, which enhances the value of business investments.