Global Artificial Intelligence (AI) Robots Market

Artificial Intelligence (AI) Robots Market Size, Share, Growth Analysis, By Component(Hardware, Software), By Application(Manufacturing, Transportation, Security, Healthcare), By Technology(Machine Learning, Computer Vision, Context Awareness, Natural Language Processing), By Deployment(Cloud, On-premises), By Robot Type(Service Robots, Industrial Robots, Others), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45J2218 | Region: Global | Published Date: June, 2024
Pages: 197 |Tables: 146 |Figures: 78

Artificial Intelligence (AI) Robots Market Insights

Global Artificial Intelligence (AI) Robots Market size was valued at USD 12 billion in 2022 and is poised to grow from USD 14.58 billion in 2023 to USD 69.24 billion by 2031, growing at a CAGR of 21.5% in the forecast period (2024-2031). 

Robotic technology combined with artificial intelligence technology to optimize operations and even automate them are known as artificial intelligence (AI) robots. Growing adoption of automation technologies across different industry verticals is projected to promote the sales of artificial intelligence (AI) robots over the coming years. Rapid advancements in robotic technology and Artificial Intelligence technology are also playing a crucial role in artificial intelligence (AI) robots market development. Growing application scope of robotics and increasing investments in the development of novel robots are also estimated to bolster the demand for artificial intelligence (AI) robots going forward. However, high initial investments and concerns regarding workforce impact are projected to slow down the sales of artificial intelligence (AI) robots over the coming years.

Market Snapshot - 2024-2031

Global Market Size

USD 12 billion

Largest Segment

Hardware

Fastest Growth

Hardware

Growth Rate

21.5% CAGR

Global Artificial Intelligence Robots Market ($ Bn)
Country Share for North America Region (%)

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Artificial Intelligence (AI) Robots Market Segmental Analysis

Global Artificial Intelligence (AI) robots market is segmented based on robot type, component, deployment, technology, application and region. Based on deployment, the market is divided into cloud and on-premise. In terms of robot type, the market is segmented into service robots, industrial robots, and others. On the basis of component, the market is segmented into hardware, and software. In terms of technology, the market is bifurcated into machine learning, computer vision, context awareness, and natural language processing. Based on application, the market is divided into Manufacturing, Transportation, Security, Healthcare, Energy, Others. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. 

Analysis by Component 

Hardware components are poised to seize a significant portion of the artificial intelligence (AI) robots market share. The indispensable role played by hardware components in ensuring the seamless operation of artificial intelligence (AI) robots is the linchpin behind the dominance of this segment. The integration of cutting-edge sensors and robust batteries further solidifies the supremacy of this sector, underscoring its pivotal contribution to the overall functionality and performance of AI robots on a global scale. 

The software industry is expected to be the fastest growing due to compound annual growth rate analysis in the prediction period. Collaborative robots where robots co-share several work environments with employees push the need for developing more AI software for seamless integration with robots. Advanced machine learning will enable the robots to understand speech commands, recognize motion, and apprehend the purpose behind human movements, enhancing the efficient and safe collaboration between people and robots. This trend is especially evident in areas like manufacturing, health care, and logistics since the tasks require a combination of dexterity and skills that allow cobots to work alongside people. 

Analysis by Technology 

Machine learning can be expected to hold a significant market share for the market of artificial intelligence (AI) robots in the coming years. The growing usage of machine learning algorithms to control and train AI-based automatons is an element that is driving this technology’s market considerably. In addition, advanced new machine learning algorithms integrated specifically for the utilization in robotics will notably strengthen this segment already massive market share. This technological advancement makes facilitation of the implementation and improved efficiency of the AI robots in different fields possible. 

The burgeoning demand for context awareness technology is anticipated to surge at an accelerated compound annual growth rate (CAGR) throughout the forecast period and beyond. Robots equipped with the capability to accurately discern and interpret situations through the deployment of context awareness technology can harness the prowess of AI robots in an optimal and highly efficient manner. This technology facilitates enhanced situational awareness, enabling robots to adapt and respond effectively to dynamic environments, thereby maximizing their utility and efficacy. 

Global Artificial Intelligence Robots Market By Component, 2022 (%)

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Artificial Intelligence (AI) Robots Market Regional Insights

North America is forecasted to account for a substantial share of the artificial intelligence (AI) robots market. The presence of key robotics companies and growing adoption of robots in different industry verticals are key factors contributing to the high market share of North America. Rising use of automation and automated robots is also estimated to favor sales of artificial intelligence (AI) robots in this region, The United States and Canada are estimated to spearhead artificial intelligence (AI) robots demand outlook in the North American region through 2031 and beyond.   

Increasing acceptance of robotics technologies and growing use of AI robots in the massive manufacturing sector of the Asia Pacific region are making it the fastest-growing market in the world. Japan is one of the key countries in this region where artificial intelligence (AI) robots deployment is projected to reach new heights in the long run. Meanwhile, China and India are also predicted to offer highly lucrative opportunities for suppliers of artificial intelligence (AI) robots in the Asia Pacific region.

North America is forecasted to account for a substantial share of the artificial intelligence (AI) robots market. The presence of key robotics companies and growing adoption of robots in different industry verticals are key factors contributing to the high market share of North America. Rising use of automation and automated robots is also estimated to favor sales of artificial intelligence (AI) robots in this region, The United States and Canada are estimated to spearhead artificial intelligence (AI) robots demand outlook in the North American region through 2031 and beyond.

Increasing acceptance of robotics technologies and growing use of AI robots in the massive manufacturing sector of the Asia Pacific region are making it the fastest-growing market in the world. Japan is one of the key countries in this region where artificial intelligence (AI) robots deployment is projected to reach new heights in the long run. Meanwhile, China and India are also predicted to offer highly lucrative opportunities for suppliers of artificial intelligence (AI) robots in the Asia Pacific region. 

Global Artificial Intelligence Robots Market By Region, 2024-2031
  • Largest
  • Fastest

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Artificial Intelligence (AI) Robots Market Dynamics

Drivers

High Adoption of Automation 

  • The surging prominence of the Industry 4.0 paradigm, coupled with a growing focus on augmenting efficiency via automation, is anticipated to significantly elevate the demand for artificial intelligence (AI) robots in the forthcoming years. This trend underscores a pivotal shift towards advanced technological integration within industrial processes, fostering enhanced productivity and streamlined operations.  

Advancements in AI and Robotics 

  • Robust investments in the research and development of novel technologies to develop complex neural networks that utilize AI to enhance human interaction with robots and promote operational efficiency and reduce errors. Such advancements in AI and robotics technology are slated to bolster artificial intelligence (AI) robots market growth in the future.  

Restraints 

Return on Investment Concerns 

  • Procuring and deploying artificial intelligence (AI) robots is quite expensive and organizations are concerned with the return on investment of these AI robots. Added maintenance and repair costs are also hampering the scope of return on investment and thereby slowing down market growth as well.  

Impact on Workforce 

  • Deploying artificial intelligence (AI) robots could put a significant number of people out of jobs and this could have a devastating impact on the overall workforce. Concerns regarding social and economic implications of workforce displacement are also hampering sales of AI robots.

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Artificial Intelligence (AI) Robots Market Competitive Landscape

Artificial intelligence (AI) robot companies focus on innovation and launch new products that stand out from the competition. Artificial intelligence (AI) robot manufacturers also emphasize the integration of advanced robotics and AI solutions available in the marketplace. AI robot providers also collaborate and partner with different companies to develop custom robots and specialized solutions to maximize their revenue generation going forward.

Top Player’s Company Profiles

  • ABB  
  • AIBrain, Inc. 
  • International Business Machines Corporation 
  • Kawasaki 
  • Alphabet  
  • Omron 
  • Promobot 
  • Vicarious 
  • Xilinx 
  • Blue Frog Robotics & Buddy - Emotional Robot 
  • Brain Corporation 
  • CloudMinds Technology Inc. 
  • UB Tech Robotics, Inc. 
  • Veo Robotics, Inc. 
  • Intel Corporation 
  • Mitsubishi 
  • DataRobot, Inc. 
  • Fanuc 
  • Hanson Robotics Ltd. 
  • NVIDIA Corporation

Recent Developments

  • In January 2024, PROVEN Robotics, a robotic solution provider, announced the launch of its new AI service robot. OrionStar Mini is designed to create interactive experiences and is powered by Qualcomm Snapdragon 845 SOC chip.  

  • In April 2024, Wind River, a distinguished supplier of software for essential, intelligent systems, revealed that Yaskawa Electric Corporation, a prominent creator of industrial robots, is employing Wind River Linux for their newest innovation, MOTOMAN NEXT. This state-of-the-art AI automaton exhibits autonomous environmental adaptability and is endowed with advanced decision-making AI faculties. The robot excels in navigating intricate tasks within unpredictable settings, thus extending automation into previously uncharted areas requiring human-like perception and discernment. 

  • In November 2023, Robotiz3d, a start-up based in the United Kingdom, developed the world’s first autonomous robot to tackle the issue of potholes. This robot utilizes artificial intelligence to track and locate potholes and cracks to fix them.

Artificial Intelligence (AI) Robots Key Market Trends

  • Discovery of New Application Scope: Artificial intelligence (AI) robots providers need to invest in research and development to offer products that are capable of handling new applications that current robots cannot. Artificial intelligence (AI) robots companies can collaborate with companies to understand the requirements and develop new AI robots accordingly to maximize their sales.  
  • Focus on Efficiency and Collaboration: The AI robot market is gravitating towards specialization, with automata crafted for distinct tasks within various sectors. This movement underscores precision and proficiency, enabling robots to excel in their specified functions while fostering collaboration. Specialized robots are seamlessly integrating alongside human counterparts, enhancing overall workforce productivity through their dedicated roles.

Artificial Intelligence (AI) Robots Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. 

As per Skyquest analysis, rapid advancements in AI technology and growing adoption of automation across different industry verticals are slated to bolster the demand for artificial intelligence (AI) robots over the coming years. However, concerns regarding return on investment and workforce displacement are predicted to slow down artificial intelligence (AI) robots market growth going forward. High adoption of automation is slated to help North America dominate the artificial intelligence (AI) robots market. Artificial intelligence (AI) robots market players should try to expand the application scope of their products by developing custom AI robots for specific applications in the future.

Report Metric Details
Market size value in 2022 USD 12 billion
Market size value in 2031 USD 69.24 billion
Growth Rate 21.5%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Component
    • Hardware, Software
  • Application
    • Manufacturing, Transportation, Security, Healthcare, Energy, Others
  • Technology
    • Machine Learning, Computer Vision, Context Awareness, Natural Language Processing
  • Deployment
    • Cloud, On-premises
  • Robot Type
    • Service Robots, Industrial Robots, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • ABB  
  • AIBrain, Inc. 
  • International Business Machines Corporation 
  • Kawasaki 
  • Alphabet  
  • Omron 
  • Promobot 
  • Vicarious 
  • Xilinx 
  • Blue Frog Robotics & Buddy - Emotional Robot 
  • Brain Corporation 
  • CloudMinds Technology Inc. 
  • UB Tech Robotics, Inc. 
  • Veo Robotics, Inc. 
  • Intel Corporation 
  • Mitsubishi 
  • DataRobot, Inc. 
  • Fanuc 
  • Hanson Robotics Ltd. 
  • NVIDIA Corporation
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Artificial Intelligence (AI) Robots Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Artificial Intelligence (AI) Robots Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Artificial Intelligence (AI) Robots Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Artificial Intelligence (AI) Robots Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Artificial Intelligence (AI) Robots Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Artificial Intelligence (AI) Robots Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

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FAQs

Global Artificial Intelligence (AI) Robots Market size was valued at USD 12 billion in 2022 and is poised to grow from USD 14.58 billion in 2023 to USD 69.24 billion by 2031, growing at a CAGR of 21.5% in the forecast period (2024-2031). 

Artificial intelligence (AI) robot companies focus on innovation and launch new products that stand out from the competition. Artificial intelligence (AI) robot manufacturers also emphasize the integration of advanced robotics and AI solutions available in the marketplace. AI robot providers also collaborate and partner with different companies to develop custom robots and specialized solutions to maximize their revenue generation going forward. 'ABB  ', 'AIBrain, Inc. ', 'International Business Machines Corporation ', 'Kawasaki ', 'Alphabet  ', 'Omron ', 'Promobot ', 'Vicarious ', 'Xilinx ', 'Blue Frog Robotics & Buddy - Emotional Robot ', 'Brain Corporation ', 'CloudMinds Technology Inc. ', 'UB Tech Robotics, Inc. ', 'Veo Robotics, Inc. ', 'Intel Corporation ', 'Mitsubishi ', 'DataRobot, Inc. ', 'Fanuc ', 'Hanson Robotics Ltd. ', 'NVIDIA Corporation'

The surging prominence of the Industry 4.0 paradigm, coupled with a growing focus on augmenting efficiency via automation, is anticipated to significantly elevate the demand for artificial intelligence (AI) robots in the forthcoming years. This trend underscores a pivotal shift towards advanced technological integration within industrial processes, fostering enhanced productivity and streamlined operations.  

Discovery of New Application Scope: Artificial intelligence (AI) robots providers need to invest in research and development to offer products that are capable of handling new applications that current robots cannot. Artificial intelligence (AI) robots companies can collaborate with companies to understand the requirements and develop new AI robots accordingly to maximize their sales.  

North America is forecasted to account for a substantial share of the artificial intelligence (AI) robots market. The presence of key robotics companies and growing adoption of robots in different industry verticals are key factors contributing to the high market share of North America. Rising use of automation and automated robots is also estimated to favor sales of artificial intelligence (AI) robots in this region, The United States and Canada are estimated to spearhead artificial intelligence (AI) robots demand outlook in the North American region through 2031 and beyond.

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