The global AI robots market is expected to grow at a robust CAGR of 28.24% over the 2018-2023 forecast period. It was valued at USD 2.96 billion in 2017 and is expected to rise to USD 12.01 billion by 2023, as per Market Research Future (MRFR). AI robotics represents the zenith of robotics as we know it at present. The AI robots market is expected to make smooth progress over the coming years due to widespread popular and government support. AI robots represent the peak of what is technically possible in the robotics field at present and are being used in an increasingly diverse range of applications. The applicability of AI robots is highly diverse and is becoming increasingly diversified as new applications are discovered regularly. The increasing demand for the adoption of AI robots for companionship and entertainment is likely to be a major driver for the global AI robots market over the forecast period.
On the other hand, the absence of a universal set of AI robot standards could hamper the growth of the AI robots market over the coming years. While AI robots have been a technical masterstroke, different innovations have been attributed to disparate players, leading to a diverse set of standards. As the technology becomes more user-accessible over the coming years, the development of a uniform set of standards can be expected, which would help smoothen the growth of the AI robots market.
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Major Key Players
- Harman International Industries,
Amazon, Blue Frog Robotics, Promobot, Softbank, Hanson Robots, Mayfield Robotics, Neurala, LG, Asustek Computer, and Jibo.
The global AI robots market is segmented in terms of offering, type, technology, application, and region.
By offering, the global AI robots market is segmented into software and hardware. The software segment is further divided into AI platforms and AI solutions, whereas the hardware segment contains the processors, storage devices, and network devices segments. The software segment is leading the global AI robots market at present, however, the hardware segment is expected to exhibit the fastest growth rate over the forecast period.
By type, the global AI robots market is bifurcated into service robots and industrial robots. Industrial robots is likely to be the fastest growing segment over the forecast period and is further sub-segmented into traditional industrial robots and collaborative industrial robots
By technology, the global AI robots market is segmented into machine learning, context awareness, computer vision, and natural language processing. Machine learning is the leading segment in the global AI robots market at present, but is likely to be shaded by the computer vision segment over the forecast period.
By application, the AI robots market is segmented into law enforcement, military and defense, public relations, personal assistance and care, education and entertainment, research and space exploration, agriculture, healthcare, industrial, stock management, and others. Stock management AI robots are expected to rise at the fastest growth rate over the forecast period, aided by the rapid growth of the retail and ecommerce sector and the rising adoption of AI tools in the same. The military and defense segment is the leading contributor to the AI robots market at present.
Geographically, the global AI robots market is segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World. North America is the leading regional AI robots market at present due to the strong development of the robotics sector in countries such as the U.S. Rapid development of robotics technology is likely to ensure North America’s dominance in the global AI robots market over the forecast period. The healthcare sector as well as the retail and military sectors in the region are highly welcoming towards robotics, leading to favorable growth prospects for the AI robots market over the forecast period.
Asia Pacific is likely to be the fastest growing regional market for AI robots over the forecast period due to the rapid technological development in countries such as China, India, and Japan, where robotics has emerged as a major field of study in recent years.
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LIST OF TABLES
Table 1 North America Global AI Robots Market: By Country, 2018-2023
Table 2 Europe Global AI Robots Market: By Country, 2018-2023
Table 3 Asia Pacific Global AI Robots Market: By Country, 2018-2023
Table 4 The Middle East & Africa Global AI Robots Market: By Country, 2018-2023
Table 5 Latin America Global AI Robots Market: By Country, 2018-2023
Table 6 North America Global AI Robots Market, By Country
Table 7 North America Global AI Robots Market, By Offering
Table 8 North America Global AI Robots Market, By Type
Table 9 North America Global AI Robots Market, By Technology
Table 10 North America Global AI Robots Market, By Application