The Artificial Intelligence Robots Market Size was valued at USD 14.3 Billion in 2023 and is expected to reach USD 162.03 Billion by 2031 and grow at a CAGR of 35.6 % over the forecast period 2024-2031.
The primary market growth driving variables might include the expanding acceptance of Artificial Intelligence (AI) robots for personal use and more government assistance for the development of trendy technologies, and also Continuously Growing Demand for robots in Industries drives market. Increased emphasis on reducing human errors in industrial operations, increased development of business robots, rising conversion in various industries such as banking, financial services, and insurance (BFSI), and strengthening the IT industry in developing economies such as the Republic of India and China may stifle market growth.
Get more information on Artificial Intelligence Robots Market - Request Sample Report
Drivers:
Continuous advancements in artificial intelligence (AI) technologies such as natural language processing, machine learning, and computer vision are driving the growth of AI robots.
The Growing demand for automation across various industries, including manufacturing, healthcare, and logistics.
Labor costs are increasing in many regions, organizations are turning to AI robots as a cost-effective solution for tasks that were traditionally performed by human workers.
AI robots can work round the clock without fatigue, leading to increased productivity and output in industries where repetitive tasks are prevalent.
The demand for automation is consistently growing Due to the Increasing need for Robotics in industries such as manufacturing, healthcare, and logistics is increasing for increased efficiency and productivity. Into The manufacturing sector automation increases the production processes, reduces Human labor and labor cost, and improves product quality. In healthcare industry, automation takes care of patients through technologies like robotic surgeries and automated patient monitoring systems. In logistics, automation optimizes supply chain operations, speeds up deliveries, and reduces costs. Automation addresses the challenges of resource optimization, accuracy, and scalability across various industries.
Restraints:
The initial cost of implementing AI robots, including hardware, software, and training, can be significant, especially for small and medium-sized enterprises (SMEs), limiting adoption.
Integrating AI robots into existing workflows and systems can be complex and time-consuming.
Concerns regarding the ethical implications of AI, such as job displacement and data privacy, along with evolving regulations.
AI robots connected to networks and databases are susceptible to cybersecurity threats, including data breaches and malicious attacks, which can undermine trust and adoption.
The initial cost of implementation of AI robots is expensive, Because of the expenses for hardware, software, and training, can increase a considerable financial challenge for small and medium-sized enterprises (SMEs). SMEs often have limited budgets and resources, making it difficult for them to afford the that much investment required for AI robotics. This financial barrier can limit the SMEs from using the benefits of automation and advanced technologies, and alos limiting their competitiveness and growth in the market. Finding cost-effective solutions and exploring financing options may help SMEs overcome this obstacle and adopt AI robotics more efficiently.
Opportunities:
The growing needs for robotic process automation in finance or surgical robots in healthcare, presents significant growth opportunities.
The development of collaborative robots (cobots) that can work alongside humans safely opens opportunities for collaborative manufacturing and service-oriented tasks.
Leveraging AI capabilities to develop innovative features such as predictive maintenance, autonomous navigation, and cognitive abilities can differentiate products and capture market share.
The adoption of AI robots for tasks that support remote work, such as telepresence robots for virtual meetings and inspections, presents a growing opportunity.
Challenges:
The Improving AI accuracy, ensuring robustness in diverse environments, and reducing latency in real-time applications remains a significant challenge.
Addressing challenges related to human-AI collaboration, including trust-building, user acceptance, and effective communication, is essential for maximizing the benefits of AI robots.
Ensuring data quality, mitigating biases in AI algorithms, and maintaining transparency in decision-making processes are ongoing challenges in AI development and deployment.
The Russia-Ukraine crisis has impacted the global AI Robots market by potentially disrupting supply chains for essential hardware components. it has also highlighted the growing importance of AI robots, especially in modern warfare and other sectors. Collaborations and innovations in Robotics-as-a-Service (RaaS) solutions and AI platforms have advanced, including developments in training AI models for real-world tasks. The challenges such as supply chain disruptions, the crisis also presents opportunities for growth and innovation in the AI robots sector, driven by technological advancement and needs of automation.
During an economic downturn, the AI Robots market may experience reduced demand as businesses cut back on automation investments. Supply chain disruptions can lead to production delays and increased costs. However, sectors prioritizing efficiency may still invest in AI robots, presenting some opportunities amid challenges.
By Robot Type
Service Robots
Industrial Robots
On the basis of Robot Type, the Industrial robot segment Dominates the Artificial Intelligence Robots Market with holding share of more than 56%, because of its widespread adoption across manufacturing and production facilities. Industrial robots equipped with AI capabilities such as machine learning, computer vision, and natural language processing are Developing the manufacturing landscape by Growing automation, precision, and productivity. These AI-powered industrial robots can perform Difficult tasks with speed and accuracy, including assembly, welding, painting, and material handling, helps to improved operational efficiency and savings cost for companies. the advancements in collaborative robots (cobots) that work alongside human workers are driving the growth of the industrial robot segment.
By Technology
Machine Learning
Computer Vision
Context Awareness
Natural Language Processing
By offering.
Software
Hardware
By Deployment mode
Cloud
On-premises
By Application
Military & Defence
Law Enforcement
Personal Assistance and Care giving
Security and Surveillance
Public Relations
Education and Entertainment
Research and Space exploration.
Industrial
Agriculture
Healthcare Assistance
Stock Management
Others
Need any customization research on Artificial Intelligence Robots Market - Enquiry Now
The Asia Pacific region dominates the AI robots market with holding the revenue share of more than 35%, the Growth of APAC region is Driven by driven by growing nations such as China, Japan, South Korea, and Singapore. These countries are emerging in the manufacturing and deployment of artificial intelligence robots, the huge investments in research and development to promote innovation and expansion of the market.
The North America region is expected to grow with a high compound annual growth rate during the forecast period of 2024 to 2031. service robots have been utilized for military and defense purposes in the United States. Drones are being increasingly adopted for a wide range of commercial applications including media and entertainment, precision agriculture, law enforcement, inspections, and surveys. The Increasing demand for AI-integrated professional service robots, particularly in medical and underwater applications, is Drive the growth of the AI robots’ market in North America.
The Middle East and Africa artificial intelligence (AI) robot industry is growing steadily, providing profitable prospects for worldwide artificial intelligence (AI) robot suppliers. The demand for AI robots has been increased by a growth in Internet access and digitalization efforts in most nations.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major key players are ABB, Anki, Robotics Hanson, Inc., Blue Frog Robotics, CloudMinds, Mayfield Robotics, Nvidia Corporation, Promobot LLC, UBTech Robotics Limited, Brain Corporation & Other Players
Blue Frog Robotics-Company Financial Analysis
In February 2021, ABB introduced the new GoFa™ and SWIFTI™ cobot families, which boast higher payloads and speeds, to enhance the existing YuMi® and Single Arm YuMi® in ABB’s cobot lineup. These innovative cobots are poised to drive the company's growth in key sectors such as electronics, healthcare, consumer goods, coordination, and food and beverage, responding to the increasing demand for automation in various industries.
In July 2022, Starship Technologies partnered with Bedford Borough Council in England to provide grocery delivery services using Starship's AI robots to 45,000 residents in 20,000 households in Bedford.
In March 2023, AI researchers from Google and the Technical University of Berlin unveiled PaLM-E, a cutting-edge multimodal embodied visual-language model (VLM) with an impressive 562 million parameters. This groundbreaking model seamlessly integrates vision and language for robotic control, enabling a wide range of activities without the need for retraining. PaLM-E stands as the largest VLM ever developed, showcasing the latest advancements in artificial intelligence technology.
| Report Attributes | Details |
| Market Size in 2023 | US$ 14.3 Billion |
| Market Size by 2031 | US$ 162.03 Billion |
| CAGR | CAGR of 35.6% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Robot Type (Service Robots, Industrial Robots) • By Technology (Machine Learning, Computer Vision, Context Awareness, Natural Language Processing) • By offering (Software, Hardware) • By Deployment mode (Cloud, On-premises) • By Application (Military & Defence, Law Enforcement, Personal Assistance and Care giving, Security and Surveillance, Public Relations, Education and Entertainment, Research and Space exploration, Industrial, Agriculture, Healthcare Assistance, Stock Management, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | ABB, Anki, Robotics Hanson, Inc., Blue Frog Robotics, CloudMinds, Mayfield Robotics, Nvidia Corporation, Promobot LLC, UBTech Robotics Limited, and Brain Corporation |
| Key Drivers | • Robots are often used for personal purposes • Governments all throughout the world have pledged their support |
| Market Opportunities | • The need for AI-based robots to assist the elderly is growing as the world's population ages • Increasing robotics investments based on artificial intelligence |
Ans: - The Artificial Intelligence Robots market size was valued at USD 14.3 Billion in 2023
Ans: - Robots are often used for personal purposes and Governments all throughout the world have pledged their support.
Ans: - The AI robotics market was dominated by service robots, which is expected to increase at the fastest rate over the projected period.
Ans: - The major key players are ABB, Anki, Robotics Hanson, Inc., Blue Frog Robotics, CloudMinds, Mayfield Robotics, Nvidia Corporation, Promobot LLC, UBTech Robotics Limited, and Brain Corporation.
Ans: - The Artificial Intelligence Robots market is to grow at a CAGR of 35.6% over the forecast period 2024-2031.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Artificial Intelligence Robots Market Segmentation, by Product
8.1 Services
8.2 Instrument & Accessories
9. Artificial Intelligence Robots Market Segmentation, by Applications
9.1 Military & Defense
9.2 Public Relations
9.3 Healthcare Assistants
9.4 Industrial
9.5 Stock Management
9.6 Research and Space Exploration
10. Artificial Intelligence Robots Market Segmentation, by Technology
10.1 Machine learning
10.2Computer Vision
10.3 Awareness
11. Artificial Intelligence Robots Market Segmentation, by Offering
11.1 Software
11.2 Hardware
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company Profiles
13.1 ABB
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2. Anki
13.3 Robotics Hanson, Inc.
13.4 Blue Frog Robotics
13.5 CloudMinds
13.6 Mayfield Robotics
13.7 Nvidia Corporation
13.8 Promobot LLC
13.9 UBTech Robotics Limited
13.10 Brain Corporation
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
15. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The E-Cigarette Market size was valued at USD 22.44 billion in 2022 and is expected to grow to USD 188.75 billion by 2030 and grow at a CAGR of 30.5% over the forecast period of 2023-2030.
The Silicon-on-Insulator (SOI) Market Size was valued at USD 1.40 billion in 2022, and expected to reach USD 5.05 billion by 2030, and grow at a CAGR of 17.4% over the forecast period 2023-2030.
The Industrial Sensors Market Size was valued at USD 22.99 billion in 2022, and is expected to reach USD 47.52 billion by 2030, and grow at a CAGR of 9.5% over the forecast period 2023-2030.
The Smart Grid Technology Market Size was valued at USD 61.23 Billion in 2023, and expected to reach USD 249.5 Billion by 2031, and grow at a CAGR of 19.2% over the forecast period 2024-2031.
The Swarm Robotics Market size was valued at USD 0.76 billion in 2022 and is expected to grow to USD 6.53 billion by 2030 and grow at a CAGR of 30.85% over the forecast period of 2023-2030.
The Embedded Antenna Systems Market Size was valued at USD 4.35 billion in 2022 and is expected to reach USD 13.33 billion by 2030, growing at a CAGR of 15% over the forecast period 2023-2030.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
