The Global Artificial Intelligence (AI) Robots Market was valued at USD 5.5 Bn in 2020 and is expected to reach USD 46.1 Bn by 2027, with a growing CAGR of 35.5% during the forecast period.
Artificial Intelligence (AI) implies the use of the computer to model or replicate sensible behaviour. Robots are set up with several artificial intelligence applications that assist in supporting many forms of commercial and everyday jobs, as a consequence minimizing human efforts. Almost every enterprise together with automotive, electrical & electronics, food & beverage, manufacturing, agriculture, construction, military, healthcare, consumer, logistics & transportation, and packaging is dependent on AI.
The increase in demand for industrial robots drives the growth of the Artificial Intelligence (AI) robots market during the forecast period. Implementing automation technology and installing industrial robots throughout the manufacturing processes has helped industrial organizations allow human personnel to dedicate more time to different demanding projects. This has improved quality, decreased risks for associates with risky tasks, and reduced the overall operational expenses. As labor expenses rise, automation technology comes as an alternate option. Robots assist entire monotonous tasks faster and consistently than humans. For instance, according to the report of the International Federation of Robotics, 2020, around 2.7 Mn industrial robots operating in the factories across the globe with an increase of 12% as compared to the previous year.
By Robot Type
By Deployment Mode
Based on the robot type, the service robots segment is growing at the highest CAGR during the forecast period owing to the rising demand of organizations for automation
Based on the robot type, the Artificial Intelligence (AI) robots industry has been segmented into service robots and industrial robots. The service robots segment of Artificial Intelligence (AI) robots market is growing at the highest CAGR during the forecast period owing to the rising demand of organizations toward automation. Moreover, AI-integrated service robots help humans in various types of applications such as cleaning pools, mowing lawns, spying, search and rescue operations, border security, and combat operations, proliferating the growth of the segment during the forecast period.
Based on the application, the stock management segment is expected to dominate the market during the forecast period due to the increasing penetration of the e-commerce industry across the globe
Based on the application, the Artificial Intelligence (AI) robots industry is segmented into military & defense, law enforcement, education & entertainment, industrial, agriculture, healthcare assistance, stock management, and others. The stock management segment is expected to dominate the Artificial Intelligence (AI) robots market during the forecast period due to the increasing penetration of the e-commerce industry across the globe. The AI integrated robots are used in the stock management application for various purposes such as sorting, sequencing, and delivery of products. For instance, Amazon Robotics (a subsidiary of Amazon) is one of the prominent players in the AI robots industry for stock management applications as it offers Kiva, an AI-integrated robot. Amazon has adopted this robot at its warehouses on a large scale.
Based on region, North America is expected to grow at the highest CAGR during the forecast period
North America is expected to grow at the highest CAGR during the forecast period owing to the increasing demand for robots in commercial applications. In the region, the US, Canada, and Mexico have the potential demand for robots. Over the several years, service robots have been used for military and defence applications in the US. Moreover, drones are adopted in various applications such as media and entertainment, precision agriculture, law enforcement, inspection, and surveys. Furthermore, the rising demand for AI integrated robots in medical and underwater applications driving Artificial Intelligence (AI) robots market growth in the region.
The report also provides an in-depth analysis of Artificial Intelligence (AI) robots market dynamics such as drivers, restraints, opportunities, and challenges:
The COVID-19 pandemic impacted various lives and businesses as well due to strict lockdown imposed by the government to limit the spread of COVID-19 viruses. The various business such as oil & gas, retail, manufacturing and others were negatively impacted by this crisis. The movement of individual across the globe are strictly restricted and the disruption in the supply chain of the product and services are completely disrupted. Thus, impacted the growth of the various businesses across the globe. Similarly, the Artificial Intelligence (AI) robots market has a mixed impact during the pandemic. Due to labour shortages, many companies adopted robots for their operations. On the other hand, the healthcare sector plays a vital role in the growth of the Artificial Intelligence (AI) robots industry in the pandemic era.
*Note: A detailed analysis is specific to the Artificial Intelligence (AI) robots market will be provided in the report
The report also provides an in-depth analysis of key trends in the Artificial Intelligence (AI) robots market:
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Market Overview & Competitive Landscape
Market Segmentation (Market Size and Share Analysis)
COVID – 19 Opportunity Mapping
Regional Market Analysis