Artificial intelligence (AI) robots help automate repetitive and dangerous tasks in industries such as manufacturing, logistics, agriculture, healthcare, and defense. They are capable of advanced decision-making, problem-solving, and human-robot interaction capabilities through machine learning and deep learning algorithms. The rising demand for automation across industries due to labor shortages and the need for enhanced safety and productivity is a major factor driving the growth of the AI robots market. The Global Artificial Intelligence (AI) Robots Market is estimated to be valued at US$ 111.65 Bn in 2024 and is expected to exhibit a CAGR of 32.% over the forecast period 2024 to 2031. Key Takeaways Key players operating in the Artificial Intelligence (AI) Robots Market Growth are ABB , AIBrain, Inc., Alphabet , Argo AI, LLC, Blue Frog Robotics & Buddy - Emotional Robot, Brain Corporation, CloudMinds Technology Inc., DataRobot, Inc., Fanuc, Hanson Robotics Ltd., Harman International Industries, IBM Corporation, Intel Corporation, International Business Machines Corporation, Kawasaki, Microsoft Corporation, Mitsubishi, Neurala, Inc., NVIDIA Corporation, Omron, Promobot, SoftBank Corp., UB Tech Robotics, Inc., Veo Robotics, Inc., Vicarious, Xilinx, and Yaskawa. These players are focusing on developing advanced AI capabilities and increasing their presence globally through partnerships and mergers and acquisitions. The key opportunities in the AI robots market include investments in R&D for human-robot collaboration, deployment of AI-enabled service robots for healthcare, education, and customer service applications. Leading players are expanding their operations in major international markets like North America, Europe, APAC and other developing regions to tap the growing demand for automation. Market Drivers and Restrain Increased automation in industries is a major driver for the AI robots market. Robots help automate repetitive and dangerous tasks, thereby enhancing workplace safety and productivity. The labor shortage faced by industries is another key factor driving the demand for AI robots that can perform tasks requiring dexterity as well as cognitive capabilities. However, the high upfront investment and maintenance costs associated with AI robots restrain their adoption, especially among small and medium enterprises. Concerns around data privacy and security with AI technologies also act as a challenge for the growth of the market. Segment Analysis The global AI Robots market is dominated by industrial robots which accounted for over 55% share of the overall market in 2024. Industrial robotics is dominating the market as AI integrated robots are being increasingly used in factory automation for tasks such as material handling, welding, cutting, assembling and packaging across industries like automotive, electronics and food & beverages. Their use allows improved productivity and efficiency as robots can work continuously without the need for breaks, shifts or overtime pay. Within industrial robots, articulated robots form the largest segment led by their versatility and flexibility to handle a wide range of applications in different orientations. Global Analysis The North American region dominates the AI robots market with around 35% share in 2024 owing to large presence of major AI robot manufacturers and early adoption across industries in countries like United States and Canada. The region is anticipated to witness the fastest growth during the forecast period supported by heavy investments in AI and robotics by tech giants as well as government focus on automation. The Asia Pacific region follows North America with a share of over 30% in 2024 led by countries like China, Japan and South Korea which are global manufacturing hubs with rising focus on factory automation. Within Asia Pacific, China dominates the regional market as Chinese manufacturers are increasingly integrating AI capabilities in industrial as well as service robots to improve productivity. Get More Insights On This Topic: Artificial Intelligence (AI) Robots Market
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May 2024
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