AI Robots Market Overview
AI Robots Market is projected to grow from USD 11.34 Billion in 2024 to USD 89.47 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 29.45% during the forecast period (2024 - 2032). Additionally, the market size for AI Robots was valued at USD 8.77 billion in 2023.
There has been a significant surge in investments in artificial intelligence (AI) across various industries, over the past few years. The potential of AI to revolutionize business processes, improve efficiency, and drive innovation has captured the attention of companies and investors worldwide. As a result, AI robotics, which combines AI technologies with robotics systems, has emerged as a promising market with vast opportunities.
The increasing investments in AI can be attributed to several factors. Firstly, advancements in AI technologies, particularly in machine learning and deep learning algorithms, have paved the way for more sophisticated and capable AI systems. This has fueled confidence in the potential of AI to deliver significant value across industries, including robotics.
AI Robots Market SIZE (USD BILLION) (2018-2032)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
AI Robots Market Trends
- Increasing aging population worldwide boosting the demand for AI-based robots for elderly assistance
The global population is experiencing a significant demographic shift, with a rapidly increasing aging population. This demographic trend poses various challenges, including the need for improved healthcare, assistance, and support for the elderly. In response to these challenges, the AI robotics market has identified a significant opportunity in developing AI-based robots for elderly assistance.
The aging population is a result of advancements in healthcare, increased life expectancy, and declining birth rates. According to the World Health Organization, the proportion of people aged 60 years and older is expected to double by 2050, reaching nearly 22% of the global population. This demographic shift creates a growing demand for innovative solutions that can enhance the quality of life for the elderly and alleviate the burden on healthcare systems and caregivers.
AI-based robots offer a range of functionalities that can address the unique needs of the elderly population. These robots can assist with various daily tasks, including medication reminders, monitoring vital signs, providing companionship, and assisting with mobility and personal care. By leveraging AI technologies such as natural language processing, computer vision, and machine learning, these robots can understand and respond to the needs and preferences of individual users.
AI Robots Market Segment Insights:
AI Robots Market Offering Insights
The AI Robots Market segmentation, based on Vehicle Type, includes vans and pickup. The software segment is expected to grow rapidly in upcoming years due to the numerous software components that work together to enable perception, decision-making, and action. AI Robots Market rely on various sensors to perceive & understand their environment. Perception software processes sensor data, such as images from cameras, depth information from depth sensors, and signals from other sensors like lidar or radar. These robots often employ machine learning & artificial intelligence techniques to learn from data and make decisions. This includes algorithms for object recognition, speech recognition, natural language processing, motion planning, reasoning, and decision-making.
AI Robots Market SIZE (USD MILLION) offering 2022 VS 2032
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
AI Robots Market Type Insights
According to type, the segment is divided into service robots and industrial robots. Service robots is anticipated to gain a significant CAGR over the forecasted period. Service AI Robots Market assist humans in various tasks and perform services in a wide range of settings, such as homes, hospitals, hotels, retail stores, and offices. These robots incorporate AI technologies to interact with users, understand their needs, and provide helpful services. It also acts as personal assistants, helping with tasks such as scheduling appointments, managing calendars, setting reminders, and providing information on weather, news, or general knowledge. Further, in retail or hospitality environments, these robots can navigate autonomously, interact with customers, and offer personalized recommendations. Service AI Robots Market are used in various other applications like, cleaning and maintenance, autonomous delivery, educational & entertainment, and elderly care & assistance.
AI Robots Market SIZE (USD MILLION) type 2022 VS 2032
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
AI Robots Market Technology Insights
The AI Robots Market research segmentation, by technology, the market is segmented into machine learning, context awareness, computer vision, natural language processing. Natural language processing segment is anticipated to grow at a higher CAGR level over the forecasted period. Natural Language Processing technology is an essential component in AI Robots Market that allows them to understand & process human language. This technology involves the application of computational algorithms & techniques to analyze, interpret, and create natural language text or speech. Natural Language Processing technology in AI Robots Market include some important factors like, speech recognition, language understanding, intent & sentiment recognition, and language translation. By leveraging these algorithms, robots can engage in natural & meaningful conversations with users, understand their intents, provide accurate information, and perform a wide range of language-based tasks.
AI Robots Market SIZE (USD MILLION) technology 2022 VS 2032
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
AI Robots Market Application Insights
By application, the market is segmented into less than law enforcement, military and defense, public relations, personal assistance and care, education & entertainment robots, healthcare, research & space exploration, industrial, stock management, and others. Stock management segment held a largest market share in 2022 owing to the deployment of AI Robots Market in stock management processes in order to improve efficiency, accuracy, and overall inventory control. AI Robots Market equipped with computer vision technology can separately scan & track inventory in warehouses or retail environments. They can identify & capture product information, such as barcodes or RFID tags, to update inventory records in real-time. These robots can provide accurate and up-to-date information on stock levels, locations, and product details. By evaluating historical data, sales trends, and other factors, they can predict future demand and adjust the replenishment process.
AI Robots Market SIZE (USD MILLION) application 2022 VS 2032
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
AI Robots Market Regional Insights
By Region, the study segments the market into North America, Europe, Asia-Pacific, Middle East & Africa, and South and Central America.
The Asia Pacific region's market for AI Robots Market is developing immensely due to the leading nations such as China, Japan, South Korea, and Singapore. These countries are establishing themselves as pioneers in manufacturing and deploying artificial intelligence robots. These countries have made significant investments in R&D, promoting innovation and boosting market growth. According to the International Federation of Robotics, Asia continues to be the world's largest industrial robot market. In 2021, Asia accounted for 74% of all newly deployed robots where China had a 51% increase in installations, with 268,195 units sold. In addition, Japan remains the second-largest market for industrial robots. In 2021, installations increased by 22% to 47,182 units as well as the operational stock was 393,326 units (+5%).
Further, the countries considered in the scope of the AI Robots Market are the US, Canada, Mexico, UK, France, Italy, Spain, Germany, China, India, Japan, South Korea, GCC Countries, South Africa, Brazil, and Argentina.
GLOBAL AI Robots Market SIZE (USD MILLION) REGION 2022 VS 2032
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
AI Robots Market Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the AI Robots Market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the AI Robots Market industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
Key Companies in the AI Robots Market include
- 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
- Miso Robotics Inc
AI Robots Market Industry Developments
March 2023: AI researchers from Google and the Technical University of Berlin have developed PaLM-E, a multimodal embodied visual-language model (VLM) with 562 million parameters. It combines vision and language for robotic control. They assert that it can carry out a range of activities without the requirement for retraining and is the biggest VLM ever created.
May 2023: NVIDIA Corp. has unveiled several products to support the expanding ecosystem for supercomputing hardware, simulation software, and artificial intelligence. The business also talked about how the electronics sector was leveraging its technology stack and revealed that its Isaac AMR platform for autonomous mobile robots, or AMRs.
June 2021: Neurala has raised USD 12 million funding, led by Zebra Ventures and Pelion Venture Partners, to advance its vision AI software for manufacturing. The funds accelerate the adoption of Neurala's VIA software in industrial and manufacturing sectors globally, helping manufacturers enhance quality inspection and automation efforts as part of Industry 4.0 initiatives.
Intended Audience
- Semi-Conductor Industry
- Technology Investors
- Regulatory Industries
- Government Bodies
- Defense industry
- Transportation Industry
- Retail Industry
- Healthcare Industry
AI Robots Market Segmentation
AI Robots Market Offering Outlook (USD Million, 2018-2032)
AI Robots Market Type Outlook (USD Million, 2018-2032)
- Service Robots
- Industrial Robots
- Traditional Industrial Robots
- Collaborative Industrial Robots
AI Robots Market Technology Outlook (USD Million, 2018-2032)
- Machine Learning
- Context Awareness
- Computer Vision
- Natural Language Processing
AI Robots Market Application Outlook (USD Million, 2018-2032)
- Law Enforcement
- Military And Defense
- Public Relations
- Personal Assistance and Care
- Education & Entertainment Robots,
- Healthcare
- Research & Space Exploration
- Industrial
- Stock Management
- Others
AI Robots Market Regional Outlook
- North America
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Rest of South America
AI Robots Market Highlights:
