The Artificial Intelligence (AI) Robots Market was worth US$ 3.24 billion in the year 2022, and it is estimated to reach a valuation of US$ 23.92 billion by the end of 2028, expanding at an annual growth rate of 28.41% between 2023 and 2028. The rising support from the governments worldwide to develop the modern technologies is a factor that is expected to lead the Artificial Intelligence (AI) Robots market during the forecast period.
Now a days, traditional robotics uses Artificial Intelligence planning techniques to program the robot behaviours and also works towards robots as technical devices that have to be developed and controlled by a human engineer whereas these Artificial Intelligence concepts are being applied to humanoid, mobile and other classes of robots. The creation of wise and smart machines that work, respond and react like people is known as Artificial Intelligence.
Market Drivers
High adoption of robots for personal use such as companionship and entertainment is expected to play an essential role in the growth of market of Artificial Intelligence (AI) Robots across the globe. Another factor such as increasing of support from the governments across the world to develop the modern technologies which influence the growth of Artificial Intelligence (AI) Robots market during the forecast period. Financial assistance through the government budgets or the subsidies, increased demands for productivity and performance of robots which are coupled with proliferated growing use of robotics in various industries are some of the major driving factors which promotes the growth of the revenue rate of Artificial Intelligence (AI) Robots market during the forecast period. High penetration levels of e commerce giants such as Amazon, Walmart, Alibaba in combination with the advent of big data analytics tools, organizations are looking for cheaper and more efficient work given that labour costs particularly in highly specialized fields are some of the major driving factors which promotes the growth of the market of Artificial Intelligence (AI) Robots during the forecast period.
Market Restraints
The development of software to handle robots by using sensors and make them AI embedded is one of the important barriers to market growth. Also, errors and vulnerabilities which are likely to lurk resulting in potential fatalities acts as an important deterrent to the growth of the Artificial Intelligence (AI) Robots market. The acceptance rate of technologically advanced robots is slow which acts as a restraint factor of the growth of AI robots market.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022 – 2028 |
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Base Year |
2022 |
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Forecast Period |
2023 - 2028 |
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CAGR |
28.41% |
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Segments Covered |
By Robot Type, Technology, Offering, End User Industry, and Region. |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Zebra Medical Vision, Inc., Baidu, Inc., General Vision, Enlitic, Inc., Next IT Corporation, iCarbonX, Amazon Web Services Inc., Apple Inc., Facebook Inc., Siemens, General Electric, Welltok, Inc., Intel Corporation, Nvidia Corporation, Google Inc., IBM, Microsoft Corporation, Micron Technology, Samsung, Xillinx, Iteris, Atomwise, Inc., Lifegraph, Sense.ly, Inc., H2O ai, Enlitic, Inc. and Raven Industries and Others. |
Market Segmentation
The Artificial Intelligence (AI) Robots market is segmented based on robot type, based on technology, based on offering and based on end user industry.
the Artificial Intelligence (AI) Robots Market is divided into service robots, Industrial robots, parallel robots, Cartesian robots, articulated robots, and others. The service robots segment held the prominent share due to increasing adoption of these robots for personal use such as companionship and entertainment and this segment is predicted to hold the dominance throughout the forecast period.
the Artificial Intelligence (AI) Robots Market is divided into natural language processing, machine learning, and computer vision and context awareness. The machine learning segment holds the major share of the market and this region is expected to hold the dominance during the forecast period as it enables the robots to analyse and also learn from different working environment thereby making the robots safer and efficient.
the Artificial Intelligence (AI) Robots Market is divided into hardware and software. The hardware segment is further bifurcated into network devices, storage devices and processors. Among the other, the software segment held prominent share of the market since the software integrated into an artificial intelligence system is responsible for carrying out complex operations and also provide the learning capabilities which results in larger size of the market.
the Artificial Intelligence (AI) Robots Market is divided into personal assistance and caregiving, military and defence, public relations, law enforcement, education and entertainment, research and space exploration, agriculture, healthcare assistance, stock management, industrial and other end user industries. Among these segments, the military and defence applications segment holds the major share of the market due to the increasing necessity for the development of innovative and cost effective robots to accomplish the military missions.
Regional Analysis
On the basis of region, the Artificial Intelligence (AI) Robots market is segmented into North America region, Asia Pacific region, Europe region, Latin America region and Middle East and Africa region.
Asia Pacific region hold the prominent share of the market due to the factors such as the increasing adoption of deep learning and NLP technologies for the retail and security applications, increasing of investments in the region especially in some of the countries such as India and China propels the growth of the market. The Asia Pacific region is expected to hold the dominance during the forecast period.
North America region is expected to increase the market value due to the increasing of support from the governments across the world to develop the modern technologies. Furthermore, the strategic collaborations and partnership of key players in the region helps the growth of the market.
Europe region is also expected to increase the market growth followed by Asia Pacific region and North America region.
Key Players
Key market participants of Artificial Intelligence (AI) Robots market are Zebra Medical Vision, Inc., Baidu, Inc., General Vision, Enlitic, Inc., Next IT Corporation, iCarbonX, Amazon Web Services Inc., Apple Inc., Facebook Inc., Siemens, General Electric, Welltok, Inc., Intel Corporation, Nvidia Corporation, Google Inc., IBM, Microsoft Corporation, Micron Technology, Samsung, Xillinx, Iteris, Atomwise, Inc., Lifegraph, Sense.ly, Inc., H2O ai, Enlitic, Inc. and Raven Industries
Almost all the industries has severely affected and because of the lockdown enforcements, restrictions on movements of non-essential goods as well as the resources in various countries across the globe has disrupted the supply chain of electronic components and networking equipment which has led the delay of electronic components which are required in manufacturing of the network equipment due to the COVID 19 pandemic. The market of AI in robots has not that much affected but there is a slight reduce in growth due to the pandemic but as per the analysis from the industry experts, the market will have a good growth rate in the future.
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