The Global Artificial Intelligence Robots Market size was valued at USD 6,214 Million in 2021 and is expected to reach USD 66,662 Million by 2030 growing at a CAGR of 30.5% during the forecast period from 2022 to 2030.
The artificial intelligence (AI) robots market has expanded significantly in recent years as a result of increased demand for automation technologies and increased use of AI robots in the medical industry to regulate Covid-19. Furthermore, the high adoption of robots for private use, such as media and entertainment, as well as the rising demand for industrial robots in the automotive industry, will drive the artificial intelligence (AI) robot market growth during the forecast timeframe.
Robotics and artificial intelligence are an effective combination for automating tasks within and around the manufacturing environment. In recent years, AI has become a much more diverse application in industrial robot alternative solutions, bringing versatility and analytical thinking to previously constrained applications. Moreover, robotic technology, which employs various AI technologies such as computer vision, machine learning, deep learning, and so on, is governed by AI programs. The number of use cases has exploded, with entrepreneurs from industries and markets as diverse as medical services, hospitality, manufacturing, and finance taking part. A constantly learning robot energized by machine learning algorithms is an important consumer proposition in the AI robots market.
Artificial Intelligence (AI) Robots Market Dynamics
|Market||Artificial Intelligence Robots Market|
|Market Size 2021||USD 6,214 Million|
|Market Forecast 2030||USD 66,662 Million|
|CAGR During 2022 - 2030||30.5%|
|Analysis Period||2018 - 2030|
|Forecast Data||2022 - 2030|
|Segments Covered||By Offering, By Robot Type, By Technology, By Application, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||SoftBank, Blue Frog Robotics, NVIDIA, Harman International Industries, Intel, Alphabet, IBM, Hanson Robotics, Xilinx, Microsoft, ABB, and Fanuc.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
10 hrs of free customization and expert consultation
Increased emphasis on reducing human errors in industrial applications and the healthcare sector, increased development of industrial robots, increased conversion in numerous industries such as financial services, banking, and insurance, and strengthening the IT market in emerging economies such as the Democratic Republic of India and Japan can all exacerbate market expansion. Other factors driving market growth include increased 5G infrastructure readiness and a growing preference for intelligent virtual personal assistants.
Furthermore, factors such as an increase in the number of government-sponsored projects to improve sophisticated technology, as well as increasing adoption of robots in the industrial production and automobile industries, are anticipated to propel the growth of the artificial intelligence (AI) robots market over the forecast period. Furthermore, the increasing use of AI robots for commercial and personal purposes is expected to increase the demand for artificial intelligence (AI) robot market size.
However, the artificial intelligence (AI) robots market's trend will be hampered by a lack of skilled labor and specific methodology in developing and underdeveloped economic systems. Furthermore, the high construction costs for low-volume manufacturing application areas will stymie market growth. Furthermore, market growth will be hampered by a lack of willingness to introduce new technology and a lack of risk-controlling regulations.
AI Robots Market Segmentation
The global artificial intelligence (AI) robots market segmentation based on the offering, robot type, technology, application and geography.
Market by Offering
Based on offering, the artificial intelligence robots market has been segmented into hardware and software. The hardware segment is even further subcategorized into network devices, storage devices, and processing units. AI platforms and AI solutions are sub-segments of the software segment. AI combined with learning algorithms can be used to provide consumers with the functionality they require while also simplifying business operations. Machine learning and deep learning functionality are used in AI software to create and develop intelligent applications from the ground up.
Market by Robot Type
Based on the robot type, the Artificial Intelligence (AI) robots industry has been segmented into industrial robots and service robots. The service robots sector of the Artificial Intelligence (AI) robots market is expected to grow at the fastest rate during the forecast period due to rising overall organizational demand for automated processes. Furthermore, AI-integrated service robots assist humans in a variety of applications such as lawn mowing, pool cleaning, spying, coast guard operations, border enforcement, and military operations, driving segment growth during the forecast period.
Market by Technology
The artificial intelligence robots market is divided into four categories based on technology: machine learning, context awareness, natural language processing (NLP), and computer vision. According to the artificial intelligence robots market forecast, the machine learning segment is expected to grow significantly in the market over the next few years. Machine learning is the process of teaching an Optimization technique to think for itself and perform specific tasks or actions. A large amount of data is fed into the ML algorithms, ensuring that Ai technologies such as robotic systems can perform precisely.
Market by Application
Based on the application, the stock management segment is expected to lead the Artificial Intelligence (AI) robots market share during the forecast period due to the increasing penetration of the e-commerce industry all over the world. AI-enabled robots are used to enforce stock management for a multitude of activities such as sequence analysis, product sorting, and delivery. For example, Amazon Robotics, a subsidiary of Amazon, is a prominent player in the AI robots industry for effective inventory management application fields, able to offer Kiva, an AI-integrated robot. Amazon has extensively used this robot in its storage facilities.
Artificial Intelligence (AI) Robots Market Regional Outlook
The Middle East & Africa (MEA)
North America is expected to grow at the fastest rate during the forecast period, owing to rising demand for service and industrial robots. The potential demand for automatons in the region includes Canada, the United States, and Mexico. For many years, service robots have been used in the United States for security and intelligence, as well as military and defense applications. Drones are also used in a variety of applications such as entertainment and media, law enforcement, precision farming, inspection, and surveys. Furthermore, the rising demand for AI-integrated robots in healthcare and underwater applications is driving the growth of the region's Artificial Intelligence (AI) robots market.
AI Robots Market Player
Some of the prominent global artificial intelligence (AI) robots market companies are SoftBank, Blue Frog Robotics, NVIDIA, Harman International Industries, Intel, Alphabet, IBM, Hanson Robotics, Xilinx, Microsoft, ABB, and Fanuc.
The estimated market size of global artificial intelligence (AI) robots market in 2021 was accounted to be USD6,214 Million.
The projected CAGR of artificial intelligence (AI) robots during the analysis period of 2022 to 2030 is 30.5%.
The prominent players of the global artificial intelligence (AI) robots market involve SoftBank, Blue Frog Robotics, NVIDIA, Harman International Industries, Intel, Alphabet, IBM, Hanson Robotics, Xilinx, Microsoft, ABB, and Fanuc.
Asia-Pacific held the dominating share for artificial intelligence (AI) robots during the analysis period of 2022 to 2030
North America region exhibited fastest growing CAGR for artificial intelligence (AI) robots during the analysis period of 2022 to 2030
Increase in consumption of industrial robots, advancements in industrial automation, such as Industry 4.0, and technological developments in the healthcare sector are the prominent factors that fuel the growth of global artificial intelligence (AI) robots market
Based on robot type, service robots held the maximum share for artificial intelligence (AI) robots market in 2021