ID: MRFR/ICT/5221-HCR | February 2021 | Region: Global | 100 pages
The AI robots market is expected to grow at a robust CAGR of 28.24% over the 2018-2023 forecast period. It was valued at USD 2.96 billion in 2017 and is expected to rise to USD 12.01 billion by 2023, as per Market Research Future (MRFR). AI robotics represents the zenith of robotics as we know it at present. The AI robots market is expected to make smooth progress over the coming years due to widespread popular and government support. AI robots represent the peak of what is technically possible in the robotics field at present and are being used in an increasingly diverse range of applications. The applicability of AI robots is highly diverse and is becoming increasingly diversified as new applications are discovered regularly. The increasing demand for the adoption of AI robots for companionship and entertainment is likely to be a major driver for the AI robots market over the forecast period.
On the other hand, the absence of a universal set of AI robot standards could hamper the growth of the AI robots market over the coming years. While AI robots have been a technical masterstroke, different innovations have been attributed to disparate players, leading to a diverse set of standards. As the technology becomes more user-accessible over the coming years, the development of a uniform set of standards can be expected, which would help smoothen the growth of the AI robots market.
The development of AI robots for the assistance of the differently abled and geriatrics is likely to be a major avenue for the AI robots market over the forecast period. While the application of AI robots for companionship and entertainment has captured the public’s imagination, the immense utility of AI robots means they are more likely to be put to better use in the coming years, with geriatric care and assisting the differently abled likely to be near the top of the list. The healthcare sector would enjoy a considerable boost with the incorporation of AI robots, as the easy programmability of robots would lessen the burden on the primary caregiver and ensure consistency in healthcare delivery.
AI Robots Market Segmentation:
The AI robots market is segmented on the basis of offering, type, technology, application, and region. By offering, the market is divided into software and hardware. Software is segmented into AI platform and AI solutions. While, hardware is segmented into processors, storage devices, and network devices.
By type, the AI robots market is segmented into service and industrial robots. Service robots are classified into ground, underwater, and aerial. On the other hand, industrial robots are categorized into traditional and collaborative industrial robots. Traditional robots comprise articulated robots, parallel robots, Scara Robots, cartesian robot, and others. By technology, it is segmented into machine learning, context awareness, computer vision, and natural language processing.
Major market applications include law enforcement, military & defense, public relations, personal assistance and care, education & entertainment robots, research & space exploration, agriculture, healthcare, industrial, stock management, and others.
Geographically, the AI robots market covers the latest trends in North America, Europe, Asia Pacific, and Rest-of-the-World.
Leading players in the global AI robots market include NVIDIA, ABB, Intel, Microsoft, Alphabet, IBM, Harman International Industries, Xilinx, Fanuc, Kuka, Amazon, Blue Frog Robotics, Promobot, Softbank, Hanson Robots, Mayfield Robotics, Neurala, LG, Asustek Computer, and Jibo.
Accuracy of the data has been maintained at all cost in the report. The report contains information gathered from primary interviews with the industry’s leading lights as well as information gathered from reliable secondary research. The research is carried out according to a domain-specific formula to ensure the accuracy of the data gathered. A comprehensive look at the market is provided through the report’s granular look at the market’s segmentation, and the use of a top-down and bottom-up approach supports this premise.
Global AI Robots Market by Offering
Global AI Robots Market by Type
Industrial Robot Traditional Industrial Robots
Collaborative Industrial Robots
Global AI Robots Market by Technology
Global AI Robots Market by Application
Military & Defense
Personal Assistance and Care
Education & Entertainment robots Research & Space Exploration Agriculture Healthcare Industrial Stock Management Others
Global AI Robots Market by Region
Frequently Asked Questions (FAQ) :
Alphabet, IBM, Microsoft, Harman International Industries, Kuka, Amazon, Xilinx, Fanuc, and Blue Frog Robotics are the contenders shaping the market.
A CAGR of 28.24% is predicted to encourage the development of the market.
The innovation in the robotics sector in the North American region is estimated to power the market’s development.
The use of AI robots for the assistance of the geriatrics and differently-abled is spurring the market.
The improvement of a uniform set of standards is estimated to change the market.