Artificial Intelligence (AI) in Robotics Market Size – Industry Structure Evaluation, Demand Drivers Analysis, Regional Growth Analysis and Identification, Competitive Positioning Review & Global Market Size Forecast to 2030
Overview
The Artificial Intelligence in Robotics Market size was valued at USD 13.23 Billion in 2023 and the total Artificial Intelligence in Robotics revenue is expected to grow at a CAGR of 38.5% from 2024 to 2030, reaching nearly USD 129.37 Billion.
The global Artificial Intelligence (AI) in Robotics market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Artificial Intelligence (AI) in Robotics report also provides trends by market segments, technology, and investment with a competitive landscape.
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Overview of Artificial Intelligence (AI) in Robotics:
Artificial intelligence and robotics are two powerful technologies that, when combined, create an even more powerful technology. Artificial intelligence and robotics can be used to efficiently accomplish a variety of tasks, obviating the need for human labor in many cases.
Robotics and artificial intelligence (AI) augment and enhance human potential, increase productivity, and move away from simple reasoning toward human-like cognitive capacities. The era of augmented intelligence, which seamlessly links human and machine intellect is the next stage of AI.
Artificial Intelligence (AI) in Robotics Market Dynamics:
Increasing needs of automation and demands for lesser human interventions in daily operational tasks across various industry verticals are anticipated to be the major factors driving artificial intelligence in the robotics market. Higher initial costs of implementations of artificial intelligence in robotics are anticipated to hinder the growth of artificial intelligence in the robotics market. Significant investments by researchers and the Government in the development of highly efficient artificial intelligence in robotic devices and machines are anticipated to provide vast opportunities to the players operating in the artificial intelligence in the robotics market.
Technology has progressed to the point where an individual can now control large, complex operations with only a touch of a button. AI-enabled robots allow for a fully automated process that does not require any human participation. Artificially intelligent devices are programmed to react to unexpected events automatically. When compared to humans, they make accurate judgments. Artificial intelligence (AI) industrial robotics is based on algorithms that automate decision-making in manufacturing operations. As the machine learns new methods to handle the task, these algorithms improve over time. These factors are responsible for the market growth of AI in the robotics market.
Production depends on demand.
Every stage of the production process is monitored by sensors as AI-enabled robotics is implemented. Production is handled based on demand and capacity, and it can be adjusted as needed. Sensors feed data to AI-based software, which then manages production depending on the software's analysis. This helps to avoid losses caused by both over-and under-production. As a result, AI-industrial robotics can effectively balance demand and supply.
After robotics, AI is the next stage in increasing productivity and lowering production costs. Poor demand and capacity planning, dangerous workplaces (in which workers are exposed to key dangerous products used in manufacturing), inefficiency, lengthier and more expensive manufacturing, and so on are the main factors of industries' logical evolution. Artificial Intelligence is critical for the industry's survival and improvement. Robots play a critical part in the production, packing, and transportation of products with minimal human intervention.
Pros:
Long-term cost-effectiveness
Errors are reduced
Risk reduction
Cons:
A lack of creativity
Job losses are a possibility.
High start-up costs
Artificial Intelligence (AI) in Robotics Market Segmentation:
Depending upon the robot type, the artificial intelligence (AI) in the robotics market is segmented into industrial robots and service robots. The use of industrial robots is expected to increase significantly. Artificial intelligence and machine learning, for example, are causing major technical upheavals in the industrial robotics business. Industrial robots are primarily utilized in the industrial business to conduct automated, repetitive, tedious, and potentially dangerous jobs to increase production and accuracy.
In the manufacturing industry, AI industrial robots are being used widely.
AI is one of the most widely accepted technologies in a variety of industries, including manufacturing. AI industrial robots are gaining traction in the manufacturing sector. The production process has already been changed by industrial automation, and AI-enabled robots are enhancing that impact with more efficient and seamless procedures.
The usage of AI-based robots simplifies the process of detecting and resolving faults. Machine maintenance that is done correctly saves time and ultimately boosts the process's output. Robots can check their accuracy and performance using AI industrial robotics technology. To avoid costly downtime, the robots warn when repair is required. As a result, human resources are also considerably reduced.
The use of AI industrial robotics aids in the precision and uniformity of product manufacturing. Robots can labor for long periods without becoming tired and can operate in hazardous settings. They help to save labor and inventory costs while allowing for quick reaction to design changes. As a result, AI-enabled industrial robots can greatly boost the value of output.
Artificial Intelligence (AI) in Robotics Market Regional Insights:
In terms of artificial technology adoption for robots, the Asia-Pacific area is predicted to grow at the fastest rate. The rising population in the region is a major element influencing the adoption rate. Robotics is also being used in a variety of end-user industries in the region, including manufacturing, retail, and healthcare. As a result, the integration of AI and robots is moving at a rapid rate.
Growth of Industrial Robots in APAC:
In addition, when it comes to the deployment of industrial robots in the manufacturing sector to boost productivity, the Asia-Pacific region is likely to lead the market. According to IFR World Robotics Report , Asia continues to be the leading market for industrial robots, with operational stock in the region's largest adopter, China, increasing by 21% to almost 783,000 units in . With around 355,000 units, Japan is in second place, up 12%. India came in second, with a new high of around 26,300 units — up 15%. India has more than doubled the number of industrial robots in its factories in only five years.
Asia accounted for around two-thirds of the worldwide supply of newly deployed robots. Although sales of about 140,500 new robots fell short of the record years of 2018 and 2017, they were still more than double those sold five years ago. Installations in the key Asian markets have slowed — in China (down 9%), and Japan (down 10%).
The objective of the report is to present a comprehensive analysis of the Global Artificial Intelligence (AI) in Robotics Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Artificial Intelligence (AI) in Robotics Market dynamics, structure by analyzing the market segments and project the global Artificial Intelligence (AI) in Robotics market size. Clear representation of competitive analysis of key players By Robot Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Artificial Intelligence (AI) in Robotics Market make the report investor’s guide.
Recent Launches:
April 2021 - Invento Robotics (India) launched C-Astra, a smart LiDAR robot that aids in patient screening and disinfection. C-Astra is a semi-automated robot that is also employed to combat the coronavirus. It disinfected houses using UVC light and employed thermal cameras to measure body temperature.
February 2021 - Surena IV, one of Iran's most advanced humanoid robots was unveiled by a team of 50 Iranian roboticists from the University of Tehran's Center for Advanced Systems and Technologies (CAST). The robot demonstrates several human-like abilities, including grabbing a water bottle, writing its name on a whiteboard, and imitating a human's attitude. To avoid falling, the robot uses a whole-body motion controller that constantly adjusts its posture.
Global Artificial Intelligence (AI) in Robotics Market Scope: Inquire before buying
| Artificial Intelligence (AI) in Robotics Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | USD 13.23 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 38.5% | Market Size in 2030: | USD 129.37 Bn. |
| Segments Covered: | by Robot Type | Industrial Robots Service Robots |
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| by End-User Industry | Automotive Retail & E-commerce Healthcare Food & Beverage Other End-user Industries |
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Artificial Intelligence (AI) in Robotics Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Artificial Intelligence (AI) in Robotics Market Key Players
1. Boston Dynamics
2. Canvas Technology
3. DroneSense
4. iRobot
5. Miso Robotics
6. Neurala
7. Rethink Robotics
8. Alphabet Inc.
9. ASUSTek Computer Inc.
10. Blue Frog Robotics
11. FANUC Corporation
12. Hanson Robotics
13. IBM Corporation
14. KUKA AG
15. Mayfield Robotics
16. NVIDIA Corporation
17. Softbank Group
18. Other Key Players
Frequently Asked questions
1. What was the Global Artificial Intelligence in Robotics Market size in 2023?
Ans: The Global Artificial Intelligence in Robotics Market size was USD 13.23 Billion in 2023.
2. What are the different segments of the Global Artificial Intelligence (AI) in Robotics Market ?
Ans. The Global Artificial Intelligence (AI) in Robotics Market is divided into Robot Type and End-User Industry.
3. What is the study period of this market?
Ans. The Global Artificial Intelligence (AI) in Robotics Market will be studied from 2023 to 2030.
4. Which region is expected to hold the highest Global Artificial Intelligence (AI) in Robotics Market share?
Ans. The Asia Pacific dominates the market share in the market.
5. What is the Forecast Period of Global Artificial Intelligence (AI) in Robotics Market ?
Ans. The Forecast Period of the market is 2024-2030 in the market.