Smart Robots Market Share

North America Market Forecast

North America smart robots market is anticipated to hold revenue share of over 45.5% by the end of 2037, backed by a growing e-commerce business and rise in the number of warehouses. According to Cyngn, an AI-powered autonomous technology provider, over 11,000 smart warehouses are located in North America.  These advanced warehouses make widespread use of smart robots to minimize human errors and increase work efficiency. The region also has a presence of market giants like Tesla, which is known for advancements in humanoid and industrial robots including the Tesla Optimus.

The U.S. Department of Agriculture also revealed that in 2022, around 20% of individuals in the country bought groceries online. In the coming years, the number of online buyers in the U.S. is anticipated to increase substantially, creating a burden on warehouse and logistics. Thus, to combat this work pressure, warehousing companies are making considerable investments in adding network-linked devices including smart robots to their warehouses to make them more connected. These modifications make smart robot adoption more feasible since they depend on a fast network and digital data.

In Canada, to encourage the development of cutting-edge technologies in the robotics sector, the local government is offering supportive policies in the form of funds, subsidies, and tax benefits. In November 2022, the local government under the Strategic Innovation Fund (SIF) contribution invested around USD 30 million in Sanctuary Cognitive Systems Corporation, a robotics and AI-focused business in Vancouver. This investment increases the company’s total funding to USD 100 million to create the first general-purpose robots with similar human intelligence. The government aims to put Canada at the forefront of the commercialization of artificial intelligence with this investment.

Asia Pacific Market Statistics

The Asia Pacific smart robots market is estimated to increase at a robust CAGR over the forecast period. The adoption of smart robots is increasing in several industries as a result of the growing requirement for automation systems in various workplaces to improve quality by lowering errors and enhancing variety. Smart industrial robots are largely used in the region’s automotive sector to manage welding, painting, and assembly processes on manufacturing lines. They also improve operational precision and contribute to breakdown prediction.

In China, the sales of smart robots are anticipated to be fueled by the enormous demand for electronic items and new products, the need to automate manufacturing, and the expanding demand for processors, batteries, and displays. China is one the major producers of electronics products; to meet the growing demand for electronics, the manufacturers are implementing smart robotic technologies to minimize production time and error. According to the Information Technology & Innovation Foundation, China held 52% of the global robot installations in 2022. This highlights how lucrative is the China smart robots market.

In India, the rapid digital shift across several industries such as automotive, textile, healthcare, chemical, residential, and manufacturing is augmenting the sales of smart robots. For instance, according to the International Federation of Robotics (IFR), India reached a new record of 4,945-unit installation of industrial robots, in 2023. In terms of annual robot installations, India holds 10^th rank, globally. Thus, the rise in industrial activities in the country coupled with digitalization & automation is set to push the adoption of smart robots market in the coming years.