Artificial Intelligence In Robotics Market Insights, Scope And Forecast To 2033
Overview and Scope
Artificial Intelligence (AI) in robotics refers to the integration of advanced artificial intelligence techniques and algorithms into robotic systems to enable them to perform tasks autonomously, adapt to changing environments and make decisions based on sensory input. AI empowers robots to interpret, comprehend, acquire knowledge and formulate decisions using the information they gather from their surroundings. AI techniques provide robots with the capability to process sensory data, learn from their experiences, identify patterns, communicate and make decisions.
Sizing and Forecast
The artificial intelligence in robotics market size has grown exponentially in recent years. It will grow from $13.87 billion in 2023 to $17.97 billion in 2024 at a compound annual growth rate (CAGR) of 29.5%. The growth in the historic period can be attributed to advancements in machine learning algorithms, cost reduction in hardware, increased processing power, rising automation in industries, development of cloud robotics.
The artificial intelligence in robotics market size is expected to see exponential growth in the next few years. It will grow to $49.94 billion in 2028 at a compound annual growth rate (CAGR) of 29.1%. The growth in the forecast period can be attributed to ai integration across industries, focus on explainability and ethics, expansion of autonomous systems, ai in healthcare robotics, global connectivity and 5g adoption. Major trends in the forecast period include technological advancements, increased investments, cross-industry collaboration, edge computing for robotics, explainable ai in robotics.
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Segmentation & Regional Insights
The artificial intelligence in robotics market covered in this report is segmented –
1) By Offering: Software, Hardware, Services
2) By Robot Type: Service Robots, Industrial Robots, Other Robot
3) By Deployment Mode: Cloud, On-Premises
4) By Technology: Machine Learning, Computer Vision, Context Awareness, Natural Language Processing
5) By End-Use Industry: Automotive, Aerospace And Defense, Retail, Healthcare, Industrial, Other End Use Industries
North America was the largest region in the artificial intelligence in robotics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence in robotics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising automation technology is expected to propel the growth of artificial intelligence in the robotics market going forward. Automation technology refers to technology that includes the procedures and tools necessary to make facilities and systems operate automatically. Automation technologies are used in artificial intelligence-based robotics to provide great speed and high accuracy that results in increased efficiency and productivity in a wide range of industries, such as manufacturing, agriculture, logistics, and healthcare. For instance, in November 2021, according to the Association for Advancing Automation, a US-based automation trade association, the second quarter of 2021 had a 67% increase in robot orders compared to the same period in 2020. Additionally, in Q2 2021, North American corporations ordered 9,853 robots valued at $501 million, up from 5,196 sold in Q2 2020. Therefore, the rising automation technology is driving the growth of artificial intelligence in the robotics market going forward.
Key Industry Players
Major companies operating in the artificial intelligence in robotics market report are Alphabet Inc., Microsoft Corporation, Intel Corporation, Medtronic, NVIDIA Corporation, ASUSTek Computer Inc., Kawasaki Heavy Industries, Ltd., FANUC Corporation, Kindred, Inc., iRobot Corporation, nuro ai, CloudMinds Technology Inc., AMP Robotics, Brain Corporation, Boston Dynamics, Inc., Magazino GmbH, Robust AI, Diligent Robotics, Hanson Robotics Ltd., Blue Frog Robotics SAS, Neurala, Inc., Veo Robotics, Inc., Agility Robotics, Miso Robotics Corporation, Gecko Robotics
The artificial intelligence in robotics market report table of contents includes:
1. Executive Summary
2. Artificial Intelligence In Robotics Market Characteristics
3. Artificial Intelligence In Robotics Market Trends And Strategies
4. Artificial Intelligence In Robotics Market – Macro Economic Scenario
5. Global Artificial Intelligence In Robotics Market Size and Growth
……………….
32. Global Artificial Intelligence In Robotics Market Competitive Benchmarking
33. Global Artificial Intelligence In Robotics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Artificial Intelligence In Robotics Market
35. Artificial Intelligence In Robotics Market Future Outlook and Potential Analysis
36. Appendix
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