Are you ready for the future of robotics? According to a recent report by Transparency Market Research, the global artificial intelligence (AI) robots market is set to reach new heights, with a projected revenue of over USD 52.6 billion by 2031. This is attributed to the increasing demand for AI robots in industrial automation, fueling growth in sectors such as defense, public services, e-commerce, and logistics. With advancements in technology and government investments in AI research and development, these robots are revolutionizing the way industries operate, optimizing production processes, and improving efficiency. By automating repetitive and labor-intensive tasks, AI robots are paving the way for a more streamlined future. With the market expected to grow at a CAGR of 20.5% from 2022 to 2031, it’s clear that AI robots are here to stay.
Market Overview
Projected market growth rate
According to a report by Transparency Market Research Inc., the global artificial intelligence (AI) robot market is projected to grow at a CAGR of 20.5% from 2022 to 2031. This indicates a significant growth potential in the coming years.
Market valuation in 2031
The same report estimates that the market will reach a valuation of US$ 52.6 billion by 2031. This showcases the increasing demand for AI robots in various industries and sectors.
Current market value in 2023
As of 2023, the artificial intelligence (AI) robot market is expected to close at US$ 11.8 billion. This indicates a substantial market size in the present year and sets the stage for future growth.
Factors driving market demand
The increasing demand for AI robots in industrial automation is one of the primary factors driving the market demand. The deployment of AI robots in factories and logistics has led to improved efficiency in supply chain management. Additionally, the demand for robots in security and surveillance applications has also contributed to the market growth. Furthermore, the e-commerce and logistics industry has witnessed a surge in the adoption of AI robots for tasks such as order picking, packaging, and delivery. These factors, along with the increasing investment in AI research and development, are fueling the market demand for AI robots.
Applications of AI Robots
Industrial automation
AI robots are extensively used in industrial automation processes. They can perform tasks that are repetitive and labor-intensive, freeing up human workers to focus on more complex responsibilities. Industrial robots equipped with AI technologies have revolutionized various sectors, including manufacturing, automotive, and aerospace.
Security and surveillance
AI robots play a crucial role in security and surveillance applications. They can patrol and monitor areas for security purposes, detect and respond to potential threats, and ensure the safety of both public and private spaces. The use of AI robots in security enhances surveillance capabilities and can assist in crime prevention.
E-commerce and logistics
In the e-commerce and logistics industry, AI robots are utilized to streamline operations and improve efficiency. They can autonomously perform tasks such as order picking, packaging, and delivery in large distribution centers. This automation reduces errors and enhances supply chain management, ultimately benefiting the e-commerce and logistics sectors.
Repetitive and labor-intensive tasks
AI robots are adept at performing repetitive and labor-intensive tasks that are time-consuming for humans. By automating these tasks, AI robots not only increase productivity but also reduce the physical strain on workers. This can lead to improved work conditions and higher overall efficiency in various industries.
Competitive Landscape
Consolidated market with few large-scale vendors
The global artificial intelligence (AI) robot market is consolidated, with a small number of large-scale vendors controlling the majority of the market share. This consolidation indicates intense competition among these players and poses barriers to entry for new entrants.
Companies investing in research and development
Many companies in the AI robot market are heavily investing in research and development activities to enhance their technological capabilities. These efforts primarily focus on developing different AI platforms and improving the overall functionality and performance of AI robots.
Profiles of key players
Transparency Market Research has profiled several key players in the global AI robot market. These players include NVDIA, SoftBank, Intel, Xilinx, ABB, Fanuc, IBM Corporation, Brain Corporation, Neurala Inc., Veo Robotics Inc., Microsoft Corporation, Kawasaki, Yaskawa, Mitsubishi, and Omron. These companies contribute significantly to the market with their innovative AI robot solutions.
Market Study Insights
Market value in 2022
As of 2022, the artificial intelligence (AI) robots market was valued at US$ 9.8 billion, indicating consistent growth over the years. This market value sets the foundation for future growth projections and highlights the market’s potential.
Dominance of industrial robots segment
The industrial robots segment holds a significant share of the global AI robot market. This dominance can be attributed to the increased uptime and productivity achieved through predictive maintenance, making industrial robots an attractive option for various industries.
Largest market share in hardware components
The hardware segment holds the largest market share in the AI robot market. The hardware components of AI robots, including sensors, actuators, and processors, are essential for their functionality. The demand for hardware components is fueled by the increasing adoption of AI robots across industries.
High revenue from industrial end-use industries
Industrial end-use industries, such as manufacturing, aerospace, and defense, generate high revenue in the AI robot market. This can be attributed to the extensive use of AI robots in optimizing production processes and improving efficiency in these industries.
Key Trends and Opportunities
Increasing internet penetration and digitization
The rise in internet penetration and increased digitization activities in developing countries have fueled the demand for AI robots. As more industries and sectors embrace digital transformation, there is a growing need for AI robots to optimize processes and improve overall efficiency.
Optimization of production processes
AI robots are increasingly being utilized in manufacturing and industrial settings to optimize production processes. By leveraging machine learning, computer vision, and context recognition technologies, these robots can reduce errors, improve quality control, and enhance overall productivity.
Focus on energy efficiency and sustainability
Market players are placing a significant emphasis on developing energy-efficient and environmentally-friendly AI robots. This aligns with global sustainability goals and addresses the growing need for sustainable solutions across industries. By incorporating energy-efficient features, AI robots contribute to a greener and more sustainable future.
Regional Analysis
Prominence of North America market
North America stands out as a prominent market for artificial intelligence (AI) robots. The region’s growth in industrialization and increased spending on advanced manufacturing systems have served as driving factors for the market. North America also boasts a strong presence of technology companies and research institutions, making it a hub for robotics research and development.
Technology companies and research institutions in the United States
The United States, in particular, has a strong presence of technology companies and research institutions that contribute to the AI robot industry. The country’s focus on innovation and development in areas such as healthcare, manufacturing, and consumer robotics has further propelled the growth of AI robots.
Fastest growth in the Asia Pacific region
The Asia Pacific region is expected to experience the fastest growth in the AI robot market. This can be attributed to the presence of prominent multinational corporations offering solutions for industries such as automotive, industrial, and manufacturing. Additionally, countries like China and India have witnessed increased focus on manufacturing automation and consumer robotics, driving substantial growth in the region.
Key Developments
Strategic partnership announcement by Doosan Robotics Americas
In May 2023, Doosan Robotics Americas announced a strategic partnership with Indiana-based Finch Automation. This partnership aims to expand the reach of Doosan’s service robots and cobots to OEM machine builders and end-users in the Midwest region of the United States. This collaboration highlights the growing interest and investment in AI robots by industry players.
Deployment of autonomous robotic scrubbers with Brain Corp
In August 2023, Brain Corp, together with Tennant Company, announced the deployment of autonomous robotic scrubbers with Götz Group, a leading German facilities management company. This deployment showcases the practical application of AI robots in real-world scenarios and highlights their potential to enhance efficiency and productivity in various industries.
Partnership and collaboration in the industry
The AI robot industry is witnessing numerous partnerships and collaborations among key players. These partnerships aim to leverage each other’s strengths, share resources, and drive innovation. Such collaborations contribute to the continuous development and growth of the AI robot market.
Key Segments
Components of AI robots
The AI robot market can be segmented based on its components. These components include hardware (sensors, actuators, processors) and software (machine learning, computer vision, natural language processing).
Types of AI robots
Another segment of the AI robot market is based on the types of robots. This can include service robots, industrial robots, and others that cater to specific needs and requirements.
End-use industries
The market can also be segmented based on the end-use industries that utilize AI robots. Some of these industries include automotive, aerospace and defense, retail, healthcare, industrial, and others.
About Transparency Market Research
Company background
Transparency Market Research is a global market research company based in Wilmington, Delaware, United States. They provide custom research and consulting services to clients worldwide. Their team of analysts, researchers, and consultants utilize proprietary data sources and various tools and techniques to gather and analyze information.
Research and consulting services
Transparency Market Research offers a wide range of research and consulting services to assist businesses in making informed decisions. Their capabilities include quantitative forecasting, trends analysis, and the development of distinctive data sets for business reports.
Data sources and analysis techniques
Transparency Market Research relies on a combination of primary and secondary research techniques to gather and analyze data. Their experienced team ensures that their data repository is continuously updated and revised to reflect the latest trends and information.
Contact Information
Corporate headquarters
Transparency Market Research Inc. 1000 N. West Street, Suite 1200, Wilmington, Delaware 19801, USA
Contact person
Nikhil Sawlani
Website and email
Website: Transparency Market Research Email: sales@transparencymarketresearch.com
