The global Artificial Intelligence (AI) in robotics market size was valued at USD 11.2 Billion in 2022 and is likely to reach USD 48.5 Billion by 2031, expanding at a CAGR of 22.5% during 2023 – 2031. The growth of the market is attributed to the increasing demand for robots to perform complex operations with high precision and consistency.
The rising focus on automation across various industries is resulting in the growing adoption of robotics solutions to streamline industrial operations and reduce human errors. The various industries, such as manufacturing, logistics, healthcare, exploration, agriculture, and transportation, heavily rely on this technology to improve their efficiency and productivity.
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According to the reports published by the International Federation of Robotics in 2021, approximately three million industrial robots were used worldwide in 2020. Furthermore, around 518,000 new industrial robots are expected to be deployed in 2024.
Incorporating intelligent algorithms and computational models into robotic systems empowers them to operate independently, exercise decision-making capabilities, and acquire knowledge through experiential learning. This integration of advanced technologies into robotics facilitates autonomous tasks, execution, and cognitive abilities, enhancing the overall performance of these systems.
Artificial Intelligence (AI) driven robots are employed for various tasks, such as automated picking, packing, and sorting, streamlining the supply chain and reducing operational costs. This technology improves productivity in various industries. In logistics, Artificial Intelligence (AI) - driven robots are used for automated picking, packing, and sorting of packages, which streamlines the supply chain and reduces operational costs. Furthermore, the service industry is utilizing Artificial Intelligence (AI) - powered robots to assist customers, clean spaces, and deliver goods.
The COVID-19 pandemic moderately impacted the market. The pandemic has accelerated the adoption of Artificial Intelligence (AI) - driven robots in the healthcare industry. Maintaining social distancing has become mandatory. This generated the need to accomplish many routine tasks that require large amounts of human labor. However, preventive measures imposed by the government created a labor shortage, which forced many industries to temporarily shut down or halt their projects. This led to a decline in the demand for robots, which hampered the market.
Artificial Intelligence (AI) in Robotics Market Dynamics
Major Drivers
Increasing need for automation to reduce reliance on human intervention in various industries is expected to drive the market. Implementation of automation technologies throughout the production process allows industries to reduce overall operational costs and enhance productivity. Thus, several industries are proactively integrating Artificial Intelligence (AI) - driven robots into their practice to maximize efficacy and streamline workflows, as it enhances productivity without compromising on professional and formal standards. These robots perform tasks autonomously with high precision while saving costs. Moreover, the use of robotics is prevalent in manufacturing, logistics, healthcare, and other service-oriented industries, which is boosting the market.
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As per the report published by the International Federation of Robotics in 2023, the installations of robots in manufacturing reached 41624 units in 2022 in North America, a 12% increase from the previous years. Whereas, the US, Canada, and Mexico installed about 20,391 industrial robots in the automotive industry, a 30% increase compared to 2021.
Existing Restraints
High cost associated with advanced technologies, including generative Artificial Intelligence (AI) technology, is expected to hinder the market. Advanced Artificial Intelligence (AI) systems require substantial investment in research, development, and infrastructure, which makes them costly to implement. Thus, small and medium-sized companies find it difficult to afford such expenses, which further reduces the demand for Artificial Intelligence (AI) - powered robots in the market.
Emerging Opportunities
Rising development of collaborative robots (cobots) that work safely and seamlessly alongside humans is expected to create immense opportunities for key players competing in the market. These cobots have the potential to enhance industries by improving human-robot collaboration leading to efficient and flexible workflows. Moreover, the surging emphasis on telemedicine and remote healthcare solutions is creating a huge demand for Artificial Intelligence (AI) - powered robots in the market.
Scope of the Artificial Intelligence (AI) in Robotics Market Report
The report on the market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Artificial Intelligence (AI) in Robotics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Offering (Software and Hardware), Technology (Machine learning, Context Awareness, Natural Language Processing, and Computer Vision), Robot Type (Industrial Robots, Service Robots, and Others), Industry Vertical (Food & Beverages, Manufacturing, Retail & E-commerce, Healthcare, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Alphabet Inc; Blue Frog Robotics; Boston Dynamics; Canvas; Brain Corporation; DRONESENSE, INC; FANUC Corporation; HANSON ROBOTICS LTD.; IBM Corporation; iRobot; KUKA AG; Miso Robotics; NEURALA, INC; NVIDIA Corporation; Rethink Robotics; and Softbank Group Corp
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Artificial Intelligence (AI) in Robotics Market Segment Insights
Offerings Segment Analysis
Based on offerings, the Artificial Intelligence (AI) in robotics market is bifurcated into software and hardware. The hardware segment is expected to hold a major market share during the projection period, due to the rising advancements in hardware technology, enabling the development of capable and efficient robots. High-performing sensors and actuators improve robots' perception and mobility, which allows them to interact efficiently and effectively. Moreover, increasing demand for cost-effective hardware components further boosts the segment.
The software segment is anticipated to register a robust growth rate, as it provides intelligence capabilities to robots. The software is a core of Artificial Intelligence (AI) systems, facilitating various tasks that are essential for robots to interact effectively. Furthermore, the software component is comparatively easier to update and upgrade compared to the hardware component contributing to segment growth.
Technology Analysis
In terms of technology, the Artificial Intelligence (AI) in robotics market is fragmented into machine learning, context awareness, natural language processing, and computer vision. The machine learning segment is expected to grow at a significant CAGR in the coming years, as it enables robots to make intelligent decisions based on patterns and trends in data. These advanced capabilities enhance the efficiency of Artificial Intelligence (AI) - powered robots and reduce the need for constant human supervision. Furthermore, machine learning enables robots to adapt to changing environments and tasks effectively, which further propels the segment.
Robot Type Analysis
On the basis of robot type, the market is classified as industrial robots, service robots, and others. The industrial robots segment is estimated to hold a key market share during the projected period, due to the increasing implementation of this technology in various industries to improve efficiency and productivity. These robots handle repetitive and labor-intensive tasks with speed and precision, which further reduces labor costs. Moreover, the growing need for automation in the industries is expected to boost the demand for industrial robots.
Industry Vertical Analysis
Based on industry vertical, the market is divided into food & beverages, manufacturing, retail & e-commerce, healthcare, and others. The manufacturing segment is projected to hold a large share of the market, due to the wide use of robots in the manufacturing industry. Robots handle complex tasks with high precision and speed, which streamline operations. It boosts productivity while reducing cycle times. Furthermore, the integration of Artificial Intelligence (AI) in robotics enables predictive maintenance in manufacturing machinery, which further fuels their demand in the market.
The healthcare segment is anticipated to expand at a robust growth rate, as Artificial Intelligence (AI) - powered robots are beneficial in healthcare where precision and accuracy are critical. The integration of artificial intelligence technology enables robots to assist in surgeries and perform delicate medical procedures. This contributes to better patient outcomes and safety. Moreover, the COVID-19 pandemic has highlighted the importance of contactless and remote healthcare solutions, which further contribute to the increasing demand for Artificial Intelligence (AI) robots.
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For instance, on September 20, 2022, NVIDIA, a multinational technology company launched NVIDIA IGX, a high-precision edge Artificial Intelligence (AI) technology that is designed to bring advanced security and safety to industries, such as manufacturing, logistics, and healthcare. This technology delivers low-latency and secure Artificial Intelligence (AI) inference to address the demand for instantaneous insights from a range of sensors and instruments for medical procedures, such as patient monitoring and robotic-assisted surgery.
Regional Outlook
In terms of region, the global Artificial Intelligence (AI) in robotics market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market, due to the large presence of leading tech companies that specialize in Artificial Intelligence (AI) and robotics. These firms stand at the forefront of using and developing modern Artificial Intelligence (AI) - driven robotic solutions. These technologies cater to industries' diverse needs and contribute to market growth and advancement in this region.
The market in Asia Pacific is anticipated to expand at a rapid pace in the coming years, due to rapid industrialization. This in turn created a huge demand for automation and sophisticated technologies, such as Artificial Intelligence (AI). Furthermore, initiatives taken by emerging countries to develop advanced robots are expected to fuel the market in the region.
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According to a report published by the International Federation of Robotics in 2023, South Korea has announced a plan for Intelligent Robots. The plan aims to boost the development of advanced robotics as a core component of the industrial revolution. To support this initiative, the government of South Korea planned to invest USD 172.2 million in the "2022 Implementation Plan for the Intelligent Robot."
Segments
The global Artificial Intelligence (AI) in robotics market has been segmented on the basis of
Offering
Technology
- Machine learning
- Context Awareness
- Natural Language Processing
- Computer Vision
Robot Type
- Industrial Robots
- Service Robots
- Others
Industry Vertical
- Food & Beverages
- Manufacturing
- Retail & E-commerce
- Healthcare
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Alphabet Inc.
- Blue Frog Robotics
- Boston Dynamics
- Canvas
- Brain Corporation
- DRONESENSE, INC
- FANUC Corporation
- HANSON ROBOTICS LTD.
- IBM Corporation
- iRobot
- KUKA AG
- Miso Robotics
- NEURALA, INC
- NVIDIA Corporation
- Rethink Robotics
- Softbank Group Corp
Competitive Landscape
Key players competing in the global Artificial Intelligence (AI) in robotics market are Alphabet Inc; Blue Frog Robotics; Boston Dynamics; Canvas; Brain Corporation; DRONESENSE, INC; FANUC Corporation; HANSON ROBOTICS LTD.; IBM Corporation; iRobot; KUKA AG; Miso Robotics; NEURALA, INC; NVIDIA Corporation; Rethink Robotics; and Softbank Group Corp
Manufacturing is focusing on various strategies such as partnerships, mergers, reduction in production costs, launching new products, and implementing advanced Artificial Intelligence (AI) technologies to expand their market share.
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On November 1, 2022, Brain Corporation, a worldwide robotics company, introduced its latest Artificial Intelligence (AI) autonomy platform that drives the next wave of commercial robots. This advanced technology aims to support a new breed of intelligent robotic solutions that can be used across multiple commercial fields. The new modular structure enables quicker and simpler product development and includes several essential features that enhance robot applications and improve machine capabilities, performance, safety, and security.
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