Leading market players are investing heavily in research and development in order to expand their product lines, which will help the smart robot market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, smart robot industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the smart robot industry to benefit clients and increase the market sector. In recent years, the smart robot industry has offered some of the most significant advantages to market. Major players in the smart robot market attempting to increase market demand by investing in research and development operations include Honda Motor (Japan), iRobot Corporation (US), Seiko Epson Corporation (Japan), GreyOrange Pte Ltd (Singapore), Rethink Robotics (US), KUKA AG (Germany), F&P Personal Robotics (Switzerland), SoftBank Robotics (Japan), Yaskawa Electric Corporation (Japan) and FANUC (Japan).
Factory automation and industrial robots are two business specialties of Fanuc Corp. The company creates, manufactures, and markets computer numerical control (CNC) systems, lasers, robotics, and factory automation solutions. The business provides a wide selection of robot models with various payloads for aerospace, automotive, alternative energy, consumer goods, education, food, pharmaceuticals, medical devices, and other industries. Fanuc distributes its goods via a network of branch offices, central technical centers, and international group companies. In August 2020, a cooperation between FANUC and Deep Learning Robotics Ltd., a pioneer in autonomous robotic learning, was formed.
The collaboration aimed to provide compatibility between the industrial robots made by FANUC and DLR's Smart Robot Learning Technology.
Manufacturing servos, motion controllers, switches, AC motor drives, and industrial robots are all products of the Japanese company Yaskawa Electric Corporation. Their Motoman robots are robust industrial machines for welding, packaging, assembly, painting, cutting, material handling, and general automation. The company's head office is in Kitakyushu, Fukuoka Prefecture, established in 1915. In September 2020, a contract was struck by Yaskawa and Phoenix Contact, a provider of industrial automation, connectivity, and interface solutions.
According to this contract, Yaskawa will lead the development of the i3-Mechatronics solution, which will leverage PLCnext Technology from Phoenix Contact as the basis for the next-generation machine controller and PLC.