Smart Robots to Rule the Industrial World Soon; New Strategies and Innovative Launches to Flourish the Field
21 Dec 2021
The nineteenth century accelerated the adoption of industrial processes and pushed it to undergo a lot of transformations. Followed by this, the advent and advancements in robots have taken the industrial processes to another level. And therefore, smart robots are on an edge now to rule the world soon.
Rapid innovations in smart robotics not only aided with high potential and astounding output but also with a variety of features. All these features have supported to lessen human efforts and improve productivity. And, undeniably, the integration of Artificial Intelligence (AI) made these smart robots appear more realistic. For a fact, the novel technological advancements in this field can be foreseen to carry huge potential in the future.
Owing to the facts smart robots are gaining a lot of popularity in the industrial world. This, in turn, has led the industry players to adopt different strategies such as new product launches and joint ventures to expand the market growth. Moreover, the market field is proliferating with a number of activities. So, here are some of the recent happenings in the industry.
New product launch is one of the most followed trends nowadays. The market players are introducing new technologies and advanced features to enhance their customer base. Xiaomi, a multinational electronics brand, has recently launched Mi Robot Vacuum Cleaner equipped with a laser detection system. Moreover, with this, the company aims to expand its portfolio in the smart home device.
Other than this, the market players are highly adopting the trend of a joint venture to advance their products. A Hong-Kong-based Engineering and Robotics company Hanson Robotics and Singularity Studio, an AI developer have lately teamed up to unveil their new healthcare assistant robot, Grace. The launch is a part of their joint venture named Awakening Health. Moreover, Grace aims to assists organizations that offer technological solutions for healthcare.
Smart robots are highly gaining huge tract. Along with collaborating, it can work together and learn from human behavior. Owing to the advantages and concerns related to labor costs, the demand for the smart robot is increasing. According to a report published by Allied Market Research, the global smart robot market is estimated to garner $17.56 billion by a CAGR of 19.6% from 2018 to 2025.
Industries are highly switching towards automation. In addition, the advancement in robotics for a connected and digital world is further boosting the smart robot market growth. Moreover, the government in various regions are also investing in automation solutions to aid with further development. Though the industry is dealing with certain challenges including high manufacturing costs and insecure connections with robots.
However, the growth in advancements of smart homes and the surge in concerns related to workplace safety are expected to present a number of opportunities to the market players. At the same time, with numerous strategies followed by the market players and innovative products, the market is anticipated to gather huge prospects and exponential growth in the approaching time
Chief editor of review team at FinancesOnline
Chief editor of review team at FinancesOnline Alex Hillsberg is an expert in the area of B2B and SaaS related products. He has worked for several B2B startups in the past and gathered a lot of first hand knowledge about the industry during that time.