The global AI robots market is growing continually, mainly due to the proliferation of automation across industries. Advances in production and manufacturing processes have sped up the growth of the AI industrial robots market. Moreover, growing applications of AI robots in warehousing and logistic application escalate the market growth. Advances in robotics and farming technologies boost the market size.
With the rising packing safety intelligence demand, the market is projected to perceive substantial traction in the years to come. The market would make smooth progress due to widespread popularity and government support for robotics. According to Market Research Future (MRFR), the globalAI robots Industry is expected to garner significant gains by 2027, growing at an impressive CAGR during the review period (2020 – 2027).
Additional factors bolstering the growth of the market include the increasing need for unmanned vehicles in the military and space and the recent trend of using AI robots for delivery purposes. On the flipside, the lack of universal standards for the development of AI robots is a major factor impeding the market growth. Nevertheless, technology upgrades expected during the coming years would support the market growth throughout the review period.
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Global AI Robots Market - Segmentation
The report is segmented into offering, type, technology, application, and region. The offering segment is sub-segmented into software and hardware. The sub-segment software is bifurcated into AI platforms and AI solutions. Similarly, the hardware sub-segment is bifurcated into processors, storage devices, network devices, and others.
The type segment is sub-segmented into service and industrial robots. The sub-segment service robot is bifurcated into ground, underwater, and aerial. Similarly, the industrial robot sub-segment is bifurcated into traditional and collaborative industrial robots. Traditional robots are classified as articulated robots, parallel robots, scara robots, cartesian robots, and others.
The technology segment is sub-segmented into machine learning, context awareness, computer vision, and natural language processing. The application segment is sub-segmented into law enforcement, military & defense, public relations, personal assistance & care, education & entertainment robots, research & space exploration, agriculture, healthcare, industrial, stock management, and others.
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Global AI Robots Market - Regional Analysis
North America dominates the global AI robots market, heading with huge technological advancements in robotics. Additionally, the increasing demand for AI robots from the logistics industry and increasing focus on enhancing UAV communication capabilities, especially in the defense sector, drive the regional market's growth. Massive spending on growing military activities and UAV applications has opened up a big market for AI robots.
The AI robots market in Europe accounts for the second-largest market globally. Most European countries are initiating AI robot applications in commercial and industrial sectors, which have led to the expansion of the AI robots market in the region. Moreover, increasing R&D investments and burgeoning industries, such as healthcare, retail, and military sectors, are key tailwinds for market growth.
The Asia Pacific region has been emerging as a promising market for AI robots globally. India and China are increasingly investing in commercial and military UAV activities, leading to favorable growth prospects. Of these, India has the maximum potential to grow during the forecast period. Furthermore, the rapid economic growth increased R&D activities, and the demand for new AI technology from the burgeoning sectors such as automotive and aircraft propel the regional market.
Global AI Robots Market - Competitive Analysis
Highly competitive, the AI robots market appears to be fragmented due to the presence of several well-established players. These players incorporate strategic initiatives such as acquisition, collaboration, partnership, expansion, and product/ technology launch to maintain their positions and gain a competitive advantage in this market. These players focus on new product development initiatives and geographical expansion.
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Players leading the global AI robots market include ABB, NVIDIA, Intel, Alphabet, Microsoft, IBM, Xilinx, Harman International Industries, Fanuc, Amazon, Kuka, Blue Frog Robotics, Softbank, Promobot, Hanson Robots, Neurala, Mayfield Robotics, LG, Jibo, and Asustek Computer, among others.
Industry/ Innovation/ Related News
April 08, 2021 ---- AppHarvest, Inc. (the US), a leading AgTech company, announced the acquisition of agricultural robotics and artificial intelligence company Root AI that creates intelligent robots to help manage high-tech indoor farms. The acquisition of Root AI and its universal robotic harvester, Virgo, is expected to provide AppHarvest with a baseline of harvesting support working alongside crop care specialists focused on more complex tasks.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
4 Market Landscape
5 Market Overview Of Global AI Robots Market
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