Smart Robot Market to Reach USD 31.11 Billion by 2027; Emphasis on Smart Infrastructure Projects by Governments to Foster Growth, states Fortune Business Insights™

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Pune, Jan. 21, 2021 (GLOBE NEWSWIRE) — The global smart robot market size is expected to reach USD 31.11 billion by 2027, exhibiting a CAGR of 23.1% during the forecast period. Rapid industrialization coupled with intelligent infrastructure projects will contribute positively to the growth of the market, states Fortune Business Insights, in a report, titled “Smart Robot Market Size, Share & COVID-19 Impact Analysis, By Type (Personal/Domestic Robots and Professional Robots), By Mobility (Mobile, Fixed/Stationary), By Application (Inspection and Maintenance, Material Handling and Sorting, Security and Surveillance, Education and Entertainment, Sanitation and Disinfection, and Others), By End User (Manufacturing, Healthcare, Agriculture, Military and Defense, Logistics and Warehouse, Education and Entertainment, Others), and Regional Forecast, 2020-2027.” The market size stood at USD 5.98 billion in 2019.

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The report on the smart robot market features:

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  • COVID-19 effect on the global market


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Market Driver:

Integration of AI in Advanced Robots to Boost Adoption

The advent of artificial intelligence (AI) in robotics has transformed the dynamics of industrial technology. AI-powered robots can determine, acclimatize, and act in more and more complex environments or situations. AI simulators have increasingly become accurate to drive real-world applications efficiently. These simulators can run hundreds of iterative processes within seconds, generating massive amounts of valuable data. The growing popularity of AI-powered intelligent robotics will have a tremendous impact on the market. The evolving technologies in artificial intelligence have made interactions and processes with humans more profound. AI robots have become more accurate, smarter, and more profitable for industrial operations, which, in turn, will enable speedy expansion of the market.

Coronavirus: No-Touch Policy to Incite Robots Demand Amid Pandemic

The global COVID-19 crisis has intensified the demand for intelligent robots in the healthcare industry. The policies pertaining to coronavirus such as …

Full story available on Benzinga.com

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