Global Artificial Intelligence (AI) Robots Market Size, Share, Growth Analysis, By Technology(Machine Learning, Computer Vision), By Application(Law Enforcement, Military & Defense), By Component(Hardware, Software), By Deployment(Cloud, On-premises), By Robot Type(Service Robots, Industrial Robots) - Industry Forecast 2024-2031

Drivers

High Adoption of Automation

• Growing popularity of Industry 4.0 trend and increasing emphasis on improving efficiency through automation are projected to promote the demand for artificial intelligence (AI) robots over the coming years.

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.