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The artificial intelligence robots market size is forecast to increase by USD 31.54 billion at a CAGR of 37.2% between 2023 and 2028. The high adoption of private-use robots, driven by advancements in robotic technology and the need for automation in various industries, is fueling market growth. The miniaturization of sensors, which allows for the development of smaller and more versatile robots, is also driving market expansion by enabling new applications and improving robot capabilities. Additionally, changing global labor force trends, such as the increasing cost of labor and the need for safer and more efficient work environments, are driving demand for robotics solutions. Overall, these factors are expected to contribute to significant growth in the robotics market in the coming years. It also includes an in-depth analysis of market trends and analysis, market growth analysis , and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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Artificial Intelligence Robots are at the forefront of technological innovation, combining AI (Artificial Intelligence) with advancements in computer science and machinery. These leverage machine learning and adaptive computing to enhance their capabilities, enabling them to perform complex tasks in various industries. Equipped with advanced vision systems, they can perceive their surroundings, analyze data from connected sensors, and respond to changes in temperature, air pressure, and climate. The latest-generation smart robots are transforming warehouses with their ability to execute tasks autonomously, learning naturally from their environment. They rely on AI solutions and platforms, powered by high-performance storage devices, processors, and memory. Their networking capabilities allow them to communicate with other systems, while advanced sensors, batteries, and actuators enable them to interact with the physical world. Computer vision and Natural Language Processing (NLP) further enhance their versatility and adaptability. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The high adoption of private-use robots is a key factor driving the market growth. Technological innovation plays a significant role in long-term economic growth. The increasing demand for home automation has led to the widespread adoption of cleaning and security robots, driven by advancements in connected sensors, AI solutions, and AI platforms. Additionally, growing consumer awareness of various types of personal robots has contributed to a high level of acceptance of robots for private use.
A study by the Massachusetts Institute of Technology (MIT) suggests that countries with older populations are more likely to adopt robotics technology. Consequently, there has been a significant adoption of companion robots, particularly in developing countries and regions with an increasing elderly population, driven by advancements in machine learning, adaptive computing, vision systems, and robotics technology. These factors are driving the use of private-use robots, thereby fueling the growth of the market.
The increase in demand for enhanced productivity and performance in robots will fuel market growth. In the highly competitive manufacturing environment, many companies have increased their focus on automating their manufacturing facilities. They are installing automated control systems enabled with advanced technologies, such as AI, Machine Learning (ML), robotics, and analytics. These companies are focusing on improving their productivity, enhancing product quality, and reducing labor costs.
To eliminate repetitive manual and clerical tasks and reduce labor costs, companies are replacing human labor with robots such as collaborative and professional. Various industries, including automotive, consumer electronics, healthcare, and industrial end-users, are increasingly adopting robots to automate operations in their manufacturing facilities, thereby driving the growth of the market during the forecast period.
The increasing manufacturing cost is a major challenge to the market growth. With rapid digitalization, many companies have increased their focus on automating their functions, such as security, painting, material transfer, machine tending, and quality inspection. Several end-user industries, such as healthcare, automotive, industrial, and transportation, are investing heavily in advanced technologies such as AI, ML, and robotics.
Companies are adopting robots such as collaborative robots and industrial AI robots to automate processes. Robots include hardware such as sensors, actuators, power sources, controllers, and software, all of which enable the robot to perform the assigned tasks. To enhance the capabilities of robots, companies are integrating multiple sensors and control systems. The cost of these components is high, which increases the overall cost of manufacturing robots and thus hinders the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bluefrogrobotics - The company offers an AI-based humanoid robot named Buddy, a smart and mobile robot that can express emotions and could be used as an adult assistant, teenage buddy, childcare assistant, and companion for senior citizens. Also, the company deals with the development of smart robots that are integrated with AI, technology, computer vision, natural language processing, and gesture controls.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the software segment will be significant during the forecast period. Software is an integral part of AI robots, which allows programs to run on these devices. The integration of advanced technologies such as AI, ML, facial recognition, and gesture recognition is made possible with the use of software programs. Major companies such as KUKA, FANUC, and OMRON offer software that is specifically developed for AI robots.
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The software segment showed a gradual increase in market share from USD 1.47 billion in 2018. Some companies are utilizing open-source robot software frameworks, such as the Robot Operating System (ROS), Gazebo, and Robot Framework, to develop software. The Gazebo can be used to develop applications for indoor and outdoor AI robots. It uses a robot simulation tool that can rapidly test algorithms, perform regression testing, and train AI systems. Some of the advanced features of Gazebo are generating sensor-based data, developing a custom plugin, and accessing multiple physics engines such as Open Dynamics Engine (ODE), Bullet, and Dynamic Animation and Robotics Toolkit (DART). It is expected that the increasing focus of companies on enhancing the capabilities and the integration of advanced technologies will accelerate the development of new software platforms during the forecast period. Furthermore, our report provides a brief analysis of the historical and forecast market share and their segment along with their reasons for growth from 2017 to 2027. The growth of this segment is primarily attributed to the increasing adoption of Artificial Intelligence, which is driven by an increase in the global demand for the artificial intelligence industry. Hence, such factors are driving the market during the forecast period.
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APAC is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC dominates the market because of the increasing adoption of AI-based robotics in retail, inventory management, healthcare, defense, and security applications. Countries such as China, Japan, and South Korea are the major contributors to the regional market. The growing adoption of advanced technologies and mobile devices such as smartphones, tablets, and laptops in emerging economies is creating the need for artificial intelligence robots. Artificial intelligence and machine learning, for instance, are triggering a major technical shift in the industrial robotics industry.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market is witnessing significant growth due to advancements in AI, machine learning, and robotics technology. These robots, equipped with latest-generation smart capabilities, are transforming industries like healthcare, automobile, and warehouses. They exhibit intelligent behavior and can adapt to changing environments, thanks to adaptive computing and vision systems. Connected sensors enable them to gather data on temperature, air pressure, and climate, enhancing their performance and efficiency. With NLP technologies, they can understand and respond to human language, making them valuable in various applications, including robotics execution and learning naturally.
In the market, advancements are aimed at reducing human interference through AI solutions and smart supporters. The integration of AI platforms and 5G setups enhances connectivity and enables real-time data processing. These robots utilize storage devices, processors, and memory for efficient operation. The market landscape depends on healthcare, good link, proficiency, 5G setup, and the robotic structures. They rely on technological load management to handle complex tasks and use networking capabilities to communicate with other devices. Hospitality robots specifically cater to the service industry, leveraging AI and 5G technologies to enhance guest experiences in hotels, restaurants, and other hospitality settings. By automating routine tasks like room service delivery and concierge services, hospitality robots optimize operational efficiency and improve service quality. Their integration into the market underscores the trend towards smart, connected solutions that streamline operations and elevate customer satisfaction levels.
With logic and sensors, they can navigate environments and perform tasks autonomously. The market also sees innovations in batteries and actuators for prolonged operation. These robots leverage computer vision and NLP for interaction, while ML procedures enhance their capabilities over time. Industries such as warehouse automation and the food and beverage industry benefit from their use. This market growth is supported by advancements in GPU and MPU, enabling faster machine learning methods and data sets processing. Furthermore, they utilize voice recognition and voice search for intuitive operation, along with recommendation engines for enhanced decision-making. Overall, these smart robots are revolutionizing industries with their warehouse automation, human potential augmentation, and software advancements.
Market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2023 |
Historic period |
2018- 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 37.2% |
Market growth 2024-2028 |
USD 31.54 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
35.42 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 43% |
Key countries |
US, China, Japan, India, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., Advanced Micro Devices Inc., Alphabet Inc., Amazon.com Inc., ASUSTeK Computer Inc., BLUE FROG ROBOTICS SAS, FANUC Corp., HANSON ROBOTICS Ltd., Intel Corp., International Business Machines Corp., LG Electronics Inc., Microsoft Corp., MIDEA Group Co. Ltd., Miso Robotics Inc., Neurala Inc., NTT Disruption Europe SL, NVIDIA Corp., Promobot LLC, Robert Bosch GmbH, and SoftBank Robotics Group Corp. |
Market dynamics |
Parent market analysis, Market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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