A smart robot is an artificial intelligence (AI) system that can learn from its environment, its experience, and build its capabilities based on that surrounding knowledge. Smart robots are used for professional, industrial as well as personal use. Additionally, smart robots are programmed specially to handle specific industrial applications such as automotive assembly, pool cleaning, machinery handling, and robotic pets among others.

Primary factors driving the growth of the smart robots are high used in various sectors such as manufacturing industries, process industries, automotive industries, and healthcare. In addition, smart robots are specially programmed with the ability to identify any issue and take decision by their own to tackle that issue with proper solution is another factor driving market growth. Moreover, smart robots are comparatively more efficient and faster than human beings favouring the global smart robot market growth. Additionally, in healthcare sectors, smart robots are employed to stay with the patient for supporting them in fast recovery boost growth of target market.

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However, high cost of smart robot is a key factor restraining growth of the global smart robot market. Additionally, in case any wrong algorithm is applied with them, they have a tendency to malfunction, it negatively impacts to the development of global smart robot market. Moreover, increasing use of smart robots in the manufacturing sector instead of human has resulting unemployment is one of the factor restraining growth of the global smart robot market.

The global smart robot market report has been segmented on the basis of component, type, application and region. On the basis of region covered, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Amongst the various geographical region, North America and Europe are the biggest markets for global smart robots are attributed to rapid commercialization and manufacturing industry. The global smart robot market in North America is expected to witness growth in terms of revenue over the forecast period, owing to significant technological adaption, and innovation.

Key player in the market includes, iRobot, Corporation, DeLaval, Lely, KUKA AG, Amazon, Honda Motors Ltd, Kongsberg Maritime, Google Inc., LG, Neato Robotics, and Others.

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