Smart Robots Market

SoftBank (Japan) and iRobot (US) are the Most Players in the Smart Robot Market

The smart robot market is expected to grow from USD 4.94 Billion in 2018 to USD 14.29 Billion by 2023, at a CAGR of 23.7% between 2018 and 2023. The smart robot market is highly competitive with the presence of numerous big and small players. The market is largely dominated by the companies in APAC, followed by those in Europe and the US. While the big players dominate the market through their brand image, the small players offer low-cost components and generate pricing pressure in the market. As of 2017, the smart robot market was dominated by SoftBank (Japan), iRobot (US), KUKA (Germany), ABB (Switzerland), Hanson Robotics (Hong Kong), (US), Honda Motor (Japan), FANUC (Japan), YASKAWA ELECTRIC (Japan), ECA (France), OMRON Adept Technologies (US), Samsung Electronics (South Korea), Intuitive Surgical (US), DeLaval (Sweden), Aethon (US), Rethink Robotics (US), Bluefin Robotics (US), GeckoSystems (US), BLUE FROG ROBOTICS (France), and Anki (US), among many others.

Most players have adopted the strategies of product launches and expansions to expand their product portfolio, sales, and distribution network and to strengthen their market share and position in the overall smart robot market. Other adopted strategies include agreements, collaborations, acquisitions, and partnerships. These strategies have been adopted to achieve growth and to stay competitive in the smart robot market. The increasing demand for technically advanced robots with high sensing capabilities, and the emergence of several new industrial and service applications encouraged companies to adopt these strategies.

SoftBank is a holding company engaged in the management of its group companies. It provides information technology and telecommunications services. The company was founded in September 1981 and has headquarters in Tokyo, Japan. The company operates its business through the following segments: Domestic Telecommunications, Sprint, Yahoo Japan, Distribution, Arm, and Others. The Others segment handles business related to robotics. Softbank has established SoftBank Robotics Group (formerly SoftBank Robotics Holdings) as an intermediate holding company within the SoftBank Group to oversee robotics businesses both in Japan and abroad with even greater levels of collaboration while promoting the development of its operating companies. The companies under the SoftBank Robotics Group umbrella develop smart robots and are dedicated to continuing research in the field of robotics and related products and services. Some of the robots of SoftBank are Pepper, NAO, and Romeo. Also, in June 2107, the company acquired Boston Dynamics (US) and Schaft (Japan) from Alphabet (US) which has provided SoftBank a leading edge in the smart robot market.

iRobot is among the major providers of advanced robots for several purposes and sells robots in the consumer market worldwide. The company was founded in 1990 and has its headquarters in Massachusetts, US. Being a consumer robot company, iRobot operates in only one business segment—Consumer Robots. The company offers Roomba and Braava family of mopping robots, featuring proprietary technologies and advanced concepts in cleaning, mopping, and navigation. The home robots include robots for different purposes such as vacuum cleaning, floor scrubbing, floor mopping, underwater pool cleaning, and outdoor maintenance. iRobot invests in adjacent applications and its core business includes consumer technology, machine learning and AI, robotic mobility and manipulation, localization and mapping, computer vision, and cloud services and infrastructure. iRobot has also made several acquisitions in recent years for instance, in July 2017, iRobot acquired Robopolis (France) which helped iRobot expand its presence in Europe.

Related Reports:

Smart Robot Market by Component (Hardware and Software), Industrial Application (Automotive, Electronics, and Food & Beverages), Personal Service Application, Professional Service Application, and Geography - Global Forecast to 2023

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