Global Artificial Intelligence (AI) Robots Market - 2023-2030

Global Artificial Intelligence (AI) Robots Market - 2023-2030

Global Artificial Intelligence (AI) Robots Market reached US$ 7.1 billion in 2022 and is expected to reach US$ 38.2 billion by 2030, growing with a CAGR of 37.6% during the forecast period 2023-2030.

AI robots depend on complicated neural networks and machine learning algorithms that are always developing and getting better. As AI technology advances, AI robots will be able to complete more difficult tasks and adapt to shifting situations. AI robots are becoming more accessible to both businesses and people because of falling prices for AI gear like sensors, CPUs and cameras.

For instance, on 6 June 2023, Tokyo-based startup Preferred Robotics has unveiled a home-use robot called Kachaka, designed to deliver items based on voice commands. The robot attaches to the bottom of a specialized table equipped with caster wheels. Users place an object on the table, pre-register a location in the house via an app and then issue a voice command for the robot to transport the object to the designated spot.

North America is dominating the global Artificial Intelligence (AI) Robots market covering more than 3/5th of the market and the region is home to many technical innovations having research institutes, startups and tech companies that mainly focus on AI and robotics. AI robots are increasingly used in many various tasks like surgery and telemedicine.

Dynamics

Government Initiatives Boost the Market

AI robots automate repetitive and time-consuming tasks, leading to increased efficiency and cost savings in government operations and they lead to handle data entry, customer service inquiries and other routine processes, allowing government employees to focus on more complex and strategic tasks. AI robots can analyze large volumes of data quickly, helping government agencies make data-driven decisions, they also identify trends, detect anomalies and provide insights that can inform policy-making and resource allocation.

For instance, on 10 April 2023, The Technology Development Board under the Department of Science & Technology, Government of India, approved support for M/s MLIT-18 Technology Private Limited, an incubated startup at the Indian Institute of Technology, Kanpur. The company aims to commercialize a Machine Vision and Robotics System for Automation in the Manufacturing Industry. TDB will provide financial support of ₹4.12 Crores out of the total project cost of ₹5.89 Crores.

Growing Need for Automation

AI robots perform repetitive tasks with high speed and precision, leading to increased efficiency and productivity in manufacturing, logistics and other industries. Automation with AI robots can lead to significant cost savings over time as robots can work continuously without breaks and do not require benefits or salaries. AI robots can consistently produce high-quality products and deliver consistent results, reducing errors and defects in manufacturing processes.

For instance, on 25 May 2023, ABB Robotics introduced the Robotic Item Picker, an AI and vision-based solution designed to accurately identify and pick items in unstructured environments within warehouses and fulfillment centers. Using machine vision and artificial intelligence, the Item Picker determines the optimal grasp points for each item before the suction gripper picks it up and places it into designated bins.

Collaboration Between Companies Boosts the Market

Companies often collaborate to leverage each other's expertise. One company may excel in AI algorithms, while another specializes in robotics hardware. By joining forces, they can create more advanced AI robots. Developing AI robots can be expensive. Collaborating allows companies to share the financial burden, making it more cost-effective to research and develop advanced robots Collaboration can speed up the development process.

For instance, on 29 October 2021, IBM, Boston Dynamics and National Grid have partnered to deploy Boston Dynamics' robot dog, ""Spot,"" for autonomous inspections at National Grid sites in Massachusetts and New York. The robot will be equipped with AI and hybrid cloud technology from IBM Research. The partnership aims to transform Spot into an intelligent edge device capable of autonomously inspecting and monitoring equipment and identifying issues in real-time.

Troubleshooting and Decision Making Hinders the Growth of the Market

In complicated, unstructured real-world contexts, AI robots frequently struggle to navigate and function efficiently and may run into difficulties including uneven surfaces, shifting lighting circumstances and unexpected impediments. Since common sense reasoning is generally lacking in AI robots, they may have trouble doing tasks that are straightforward for humans but necessitate a rich understanding of reality, such as comprehending natural language or making sense of ambiguous circumstances.

AI robots rely on sensors to perceive their surroundings. Sensor technology while improving, still has limitations in terms of accuracy, range and adaptability to various conditions. Many AI robots depend on large amounts of data for training and decision-making and they may struggle in situations where data is scarce or not representative of the current context. Developing and deploying AI robots can be costly, which may limit their accessibility and adoption, especially for small businesses or individuals.

Segment Analysis

The global Artificial Intelligence (AI) Robots market is segmented based on offerings, robot type, technology, deployment mode, application and region.

Adoption of Service-based Robots Boosts the Market

AI and machine learning technologies have significantly enhanced the capability of service robots and these service robots perform various complex tasks and learn to adapt to changes in environments. These robots are majorly used in industrial areas for handling materials, for doing inspections and maintenance. The growth in e-commerce industries led to an increase in the demand for service robots in warehousing and logistics.

For instance, on 10 November 2022, Amazon introduced a new robotic system called ""Sparrow"" to streamline the fulfillment process. Sparrow is designed to handle individual products in Amazon's inventory using computer vision and artificial intelligence (AI). It can detect, select and handle millions of items, marking a significant advancement in industrial robotics technology. Sparrow automates the handling of individual products, allowing Amazon employees to focus on more complex tasks.

Geographical Penetration

Region Heavily Investing in Technology Boosts the Market

Asia-Pacific is the fastest-growing region in the global artificial intelligence robots market and countries that are investing in AI and robotics research and development include China, Japan and South Korea. The development of AI robots in the region is driven by ongoing technological developments in AI algorithms, machine learning, sensors and hardware components. In areas including manufacturing consumer products, electronics and automobiles, AI robots are commonly used.

For instance, on 12 August 2022, Hyundai Motor Group and Boston Dynamics announced the launch of the Boston Dynamics AI Institute with an initial investment of over US$ 400 million. The institute will focus on advancing artificial intelligence, robotics and intelligent machines. It will work in four core technical areas: cognitive AI, athletic AI organic hardware design and ethics and policy. The institute will be headquartered in Cambridge, Massachusetts and will collaborate with universities and corporate research labs to achieve its mission.

Competitive Landscape

The major global players in the market include NVIDIA Corporation, IBM Corporation, Vicarious Inc., Veo Robotics, Inc., Microsoft Corporation, Hanson Robotics Ltd., Neurala, Inc., Kindred, Inc., Brain Corporation and Preferred Networks, Inc.

COVID-19 Impact Analysis

The pandemic accelerated the adoption of AI robots in various industries, particularly in healthcare and logistics. Robots were deployed for tasks like disinfection, patient care and contactless delivery to reduce the risk of virus transmission. AI robots were used in hospitals and healthcare facilities to assist healthcare workers in tasks like monitoring patients, delivering medication and even conducting tests and they helped reduce the burden on healthcare professionals and minimized their exposure to the virus.

Many employees working remotely, companies looked to AI robots to maintain essential operations and these robots were used in data centers, warehouses and other facilities to perform tasks that would typically require human presence. The demand for robots equipped with UV-C lights or disinfectant sprayers surged during the pandemic and these robots were used to sanitize public spaces, offices and hospitals to reduce the risk of virus transmission.

The pandemic disrupted global supply chains, leading to increased interest in automation. AI robots were used in warehouses and fulfillment centers to meet the rising demand for e-commerce and reduce the reliance on human labor. AI robots were used in various public spaces to enforce social distancing measures and they could monitor crowds, provide reminders and even distribute masks and hand sanitizers. AI and machine learning were crucial for analyzing vast amounts of data related to the pandemic, including patient data, infection rates and vaccine distribution.

AI Impact

Robots may acquire knowledge from their experiences and adjust to shifting environments because of AI. Robots can continuously improve their performance with the aid of machine learning methods like deep reinforcement learning. Robots are better able to see and understand their surroundings because of AI-powered sensors and computer vision systems, which improve their capacity to navigate challenging situations and interact with things and people.

AI has made it possible for robots to comprehend human voice instructions and spoken language, improving the usability and accessibility of human-robot communication. AI robots can display cognitive skills including problem-solving, decision-making and planning, which increases their adaptability to handle different tasks.

For instance, on 29 July 2023, Google introduced the Robotics Transformer 2 (RT-2) an advanced AI model aimed at teaching robots to perform real-world actions, marking a significant stride in the development of adaptable and useful robots. RT-2 utilizes its capability to comprehend and process text and images from the web, enabling it to instruct robots to execute specific actions and adapt to new situations.

Russia- Ukraine War Impact

The conflict may disrupt global supply chains, affecting the production of AI hardware components, such as sensors and processors and this disruption could lead to delays in the manufacturing and deployment of AI robots. Economic and geopolitical uncertainties resulting from the war may influence resource allocation for AI research and development. Governments and organizations may reprioritize funding and resources, potentially affecting AI projects.

The conflict may lead to changes in international alliances and trade relationships and this could impact collaborations in AI research and the sharing of AI-related technologies and knowledge. AI research agendas may shift to address emerging challenges related to the war, such as cybersecurity and data analysis for geopolitical intelligence and this could temporarily divert attention from other AI research areas.

By Offerings
● Software
● Hardware

By Robot Type
● Service Robots
● Industrial Robots

By Technology
● Machine Learning
● Computer Vision
● Context Awareness
● Natural Language Processing

By Deployment Mode
● Cloud
● On-Premises

By Application
● Military & Defense
● Law Enforcement
● Personal Assistance & Caregiving
● Public Relations
● Education & Entertainment
● Others

By Region
● North America

U.S.

Canada

Mexico
● Europe

Germany

UK

France

Italy

Russia

Rest of Europe
● South America

Brazil

Argentina

Rest of South America
● Asia-Pacific

China

India

Japan

Australia

Rest of Asia-Pacific
● Middle East and Africa

Key Developments
● In June 2023, Guardforce AI announced a collaboration agreement with Hong Kong Industrial Artificial Intelligence and Robotics Centre Limited (FLAIR) to work on developing Robotics-as-a-Service (RaaS) solutions and artificial intelligence (AI) cloud platforms globally. FLAIR, founded by the Hong Kong Productivity Council (HKPC) with RWTH Aachen Campus in Germany as a major collaborator, will provide Guardforce AI with access to its technology and expertise over an initial two-year period.
● In November 2022, Brain Corp unveiled its third-generation autonomy platform for commercial robotics, building on its BrainOS autonomous robotic operating system and this new platform is designed to support a future generation of intelligent robotic solutions across various commercial sectors. It features a modular architecture to simplify product development and introduces several key enhancements aimed at expanding robot applications and improving machine capabilities, performance, safety and security.
● In March 2022, In Bengaluru, Karnataka, the first Artificial Intelligence & Robotics Technology Park (ARTPARK) in India has been officially opened. With initial funding of Rs. 239 from the central government and the University of Aalto in Finland and India medical institute are the partners.

Why Purchase the Report?
● To visualize the global artificial intelligence (AI) robots market segmentation based on offerings, robot type, technology, deployment mode, application and region, as well as understand key commercial assets and players.
● Identify commercial opportunities by analyzing trends and co-development.
● Excel data sheet with numerous data points of artificial intelligence (AI) robots market-level with all segments.
● PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
● Product mapping available as excel consisting of key products of all the major players.

The global artificial intelligence (AI) robots market report would provide approximately 77 tables, 78 figures and 186 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies