NEWS PROVIDED BYTechnavio
Jun 24, 2024, 10:24 ET
NEW YORK, June 24, 2024 /PRNewswire/ — The global artificial intelligence robots market size is estimated to grow by USD 31.53 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 37.2% during the forecast period. High adoption of private-use robots is driving market growth, with a trend towards increase in demand for productivity and performance of robots. However, increasing manufacturing cost of robots poses a challenge. Key market players include 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..
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| Forecast period | 2024-2028 |
| Base Year | 2023 |
| Historic Data | 2018 – 2022 |
| Segment Covered | Technology (Software and Hardware), Type (Service and Industrial), and Geography (APAC, Europe, North America, South America, and Middle East and Africa) |
| Region Covered | APAC, Europe, North America, South America, and Middle East and Africa |
| 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. |
Key Market Trends Fueling Growth
In today’s manufacturing sector, companies are prioritizing automation to boost productivity, enhance product quality, and cut labor costs. They are integrating AI, ML, robotics, and analytics into their operations through automated control systems. Industries like automotive, consumer electronics, healthcare, and industry are adopting robots, such as collaborative and professional models, to automate tasks and streamline production. This trend is fueling the growth of the Artificial Intelligence Robots Market.
The Artificial Intelligence (AI) robots market is experiencing significant growth, with companies investing in advanced technologies such as machine learning, natural language processing, and computer vision. The use of AI robots is becoming increasingly common in various industries, including manufacturing, healthcare, and logistics. These robots are designed to perform repetitive tasks, improve efficiency, and enhance productivity. The adoption of cloud technology and the integration of IoT devices are also driving the growth of the AI robots market. Furthermore, the development of adaptive and autonomous robots is expected to further boost market trends. The market is projected to continue its upward trajectory in the coming years.
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Market Challenges
- The global AI robots market is experiencing significant growth as companies in various sectors, including healthcare, automotive, industrial, and transportation, invest in automation using advanced technologies like AI, ML, and robotics. Robots, consisting of hardware such as sensors, actuators, power sources, controllers, and software, are being adopted for functions like security, painting, material transfer, machine tending, and quality inspection. Vendors integrate multiple sensors and control systems to enhance robot capabilities, but the high cost of these components remains a challenge, potentially hindering market expansion during the forecast period.
- The Artificial Intelligence (AI) robots market is experiencing significant growth, with companies producing advanced robots for various industries. However, challenges persist in this sector. One major challenge is ensuring the compatibility of these robots with existing technology and infrastructure. Another issue is the high cost of implementing and maintaining AI robots, which can be a barrier for smaller businesses. Additionally, ethical concerns regarding the use of AI robots in the workforce continue to surface. Despite these challenges, the potential benefits of AI robots, such as increased efficiency and productivity, make them an attractive investment for many businesses. The future of this market depends on how these challenges are addressed.
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Segment Overview
This artificial intelligence robots market report extensively covers market segmentation by
- Technology
- 1.1 Software
- 1.2 Hardware
- Type
- 2.1 Service
- 2.2 Industrial
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and Africa
1.1 Software- Artificial Intelligence (AI) robots rely on software to operate advanced technologies such as AI, ML, facial recognition, and gesture recognition. Major vendors like KUKA, FANUC, and Miso Robotics offer specialized software for AI robots, including application software, system software, and cloud software. Vendors are investing heavily in software development to support advanced AI robot features. NVIDIA’s GR00T model is an example, understanding natural language and emulating human movements. Open-source robot software frameworks like ROS, Gazebo, and Robot Framework are used for AI robot software development, offering features like sensor data generation and access to multiple physics engines. The focus on enhancing AI robot capabilities is expected to accelerate software platform advancements.
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Research Analysis
The Artificial Intelligence (AI) Robots Market is experiencing significant growth due to the integration of advanced technologies such as machine learning, adaptive computing, and computer vision systems. Latest-generation smart robots are being employed in various industries, including warehouses, to execute complex tasks with precision and efficiency. These robots are designed to learn naturally through connected sensors and AI solutions, enabling them to adapt to changing climate conditions, temperature, air pressure, wind, and other environmental factors. The technological load of these robots includes powerful processors, large memory capacity, and advanced networking capabilities. AI platforms are being utilized to enhance the logic and decision-making abilities of these robots, making them more autonomous and efficient. Batteries, actuators, and sensors are essential components of these robots, ensuring their smooth operation. Overall, the AI Robots Market is poised for continued growth as the demand for advanced automation solutions increases.
Market Research Overview
The Artificial Intelligence (AI) Robots Market is experiencing significant growth due to the increasing demand for automation and digital transformation across various industries. These robots, powered by advanced technologies such as machine learning, natural language processing, and computer vision, are designed to perform complex tasks with high precision and efficiency. The market is segmented based on types of robots, applications, and end-users. The types of robots include industrial robots, service robots, and collaborative robots. The applications include manufacturing, healthcare, education, and logistics, among others. The end-users include small and medium enterprises (SMEs) and large enterprises. The market is driven by factors such as the need for labor savings, productivity enhancement, and improved accuracy. The adoption of AI robots is expected to continue to grow as more industries embrace digitalization and automation.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Technology
- Software
- Hardware
- Type
- Service
- Industrial
- Geography
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio