AI Robots Market is projected to grow at a CAGR of 29.4% during the forecast period: MRFR

Market Research Future (MRFR) has published on the “Global AI Robots Market”.

The AI Robots Market is predicted to reach USD 89,475.4billion by 2032, registering a 29.4% CAGR during the forecast period, 2023–2032. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the next few years.

The growing adoption of industrial robotics is a significant driver for the AI robotics market, as it revolutionizes manufacturing and industrial processes across various sectors. Industrial robotics involves the use of robotic systems in manufacturing environments to automate tasks, improve efficiency, and enhance productivity. The integration of AI technologies into industrial robotics has led to several benefits, such as enhanced automation and efficiency, improved quality and consistency, safety and risk reduction, flexibility and adaptability, and cost savings and return on investment (ROI) accelerating the adoption of AI robotics solutions.

Moreover, by integrating artificial intelligence capabilities into robotic systems, AI-powered robotics enables advanced automation. They are capable of learning from data, adapting to changing environments, and making intelligent decisions. Unlike traditional automation systems, AI robotics systems can handle complex tasks more accurately, quickly, and autonomously. As a result, they have improved production rates and operational efficiency by performing repetitive, labor-intensive tasks more consistently and accurately.

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Segmental Analysis

The scope of the global AI Robots market has been segmented based on by offering, type, technology and application.

Based on offering, the global AI Robots market is segmented into hardware and software. The software segment is expected to exhibit the fastest CAGR during the projected period.

Based on type, the global AI Robots market is segmented into service robots and industrial robots. The service robots segment will experience the highest CAGR over the forecasted period.

Based on technology, the global AI Robots market is segmented into Machine Learning, Context Awareness, Computer Vision, Natural Language Processing. Further, Natural Language Processing is anticipated to grow at a fastest CAGR during the projected period.

Based on application, the global AI Robots market is segmented into law enforcement, military and defense, public relations, personal assistance and care, education & entertainment robots, healthcare, research & space exploration, industrial, stock management, and others. personal assistance and care is expected to dominate the market in terms of CAGR over the forecasted period.

Regional Analysis

Geographically, the global AI Robots market has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa and South America.

Asia Pacific accounted for the largest share of revenue in 2022 and expected to dominate the market in terms of CAGR in upcoming years. The Asia Pacific region's desire to deploy AI robots has increased decisively in recent years as a result of breakthroughs in artificial intelligence, robotics, and automation technology. Manufacturing is one of the major drivers of AI robot demand in countries such as China, Japan, South Korea, and Taiwan. These machines are used for assembling, material handling, and storekeeping in order to minimize downtime and optimize cost efficiency in the manufacturing.

The Asia Pacific region's demand for AI robots is driven by the need for automation, enhanced productivity, better consumer experiences, and addressing labor shortages. The region's strong technological infrastructure, new developments, investment in R&D, and favorable government regulations all help to drive the growth of the AI robot market. For instance, in February 2022, Yaskawa Motoman, industrial robots manufacturer, has introduced two new six-axis collaborative robots, the. These new robots enable people to operate securely with a wide range of collaborative applications such as assembly, dispensing, machine tending, material handling, packing, and welding.

Key Players

The key players in the global AI Robots market Nvidia Corporation, Abb Ltd, Intel Corporation, 1X, Google (Alphabet Inc), IBM Corporation, Hanson Robotics, Boston Dynamics, Xilinx Inc (AMD), Fanuc Corporation, KUKA AG , Blue Frog Robotics , Promobot , Vicarious FPC, Inc, Neurala Inc. ,Veo Robotics Inc, and Miso Robotics Inc