Westford USA, May 16, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Global Artificial Intelligence (AI) Robots Market will attain a value of USD 69.24 Billion by 2031, with a CAGR of 21.5% over the forecast period (2024-2031). The main factors driving market expansion are the growing use of AI robots for personal use and the growing government assistance for the development of new technologies. Increasing emphasis on lowering the number of human errors in industrial processes, expanding the use of industrial robots in the marketplace, increasing digitization across a range of sectors, including banking, financial services, and insurance (BFSI), are bolstering the IT sector. The market is expanding due to various factors like the increasing need for intelligent virtual assistants and the increasing implementation of 5G infrastructure.
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- Tables - 152
- Figures – 85
Artificial Intelligence (AI) Robots Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $14.58 billion |
| Estimated Value by 2031 | $69.24 billion |
| Growth Rate | Poised to grow at a CAGR of 21.5% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Technology, Application, Component, Deployment and Robot Type |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Continues R&D Leading to New Application Scope in AI Robots |
| Key Market Opportunities | Focus on Developing Robots with Special Application Cases that Work and Add Value |
| Key Market Drivers | High Adoption of Automation |
Driving Force Behind the Hardware is Surge in Demand for Robust Computational Power
The remarkable parallel processing capabilities of GPUs are what drive their supremacy in the global market for AI robots. The increasing complexity of AI algorithms, which necessitate substantial processing power for effective implementation, serves as another evidence of their supremacy. There is a direct correlation between the dominance of specialised hardware in the market and the complexity of algorithms: as AI applications become more complicated, so does the need for high-performance hardware components.
Machine Learning is Leading Owing to Surge in Exponential Growth of Data Availability
The capacity of machine learning technology to adapt and enhance performance based on data inputs is what drives its supremacy in the global market for AI robots. The exponential increase in data availability, which offers a wealth of resources for machine learning model training and improvement, reinforces this dominance even more. There is a positive correlation between the amount and diversity of data available and machine learning algorithms' ability to extract insights and optimise robot behaviours.
North America is Dominant Due to Mature Ecosystem of Technology Companies and Government Agencies
North America holds a sizable portion of the global artificial intelligence (AI) robots market. The large market share of North America can be attributed in part to the existence of significant robotics businesses and the increasing deployment of robots across many industry verticals. Asia Pacific is the fastest-growing market in the world due to the adoption of robotics technology and the expanding use of AI robots in the region's huge manufacturing sector.
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Artificial Intelligence (AI) Robots Market Insight
Drivers:
- Advancements in AI and Robotics
- Rise in Demand for Industrial Robots
- High Adoption of Automation
Restraints:
- Return on Investments Concerns
- Regulatory Risk Associated with Network and Autonomous Robots
- Imapct on Current Workforce
Prominent Players in Global Artificial Intelligence (AI) Robots Market
- SoftBank (Japan)
- NVDIA (US)
- Intel (US)
- Microsoft (US)
- IBM (US)
- Hanson Robotics (China)
- Alphabet (US)
- ABB (Switzerland)
- Fanuc (Japan)
- Harman International (US)
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Key Questions Answered in Global Artificial Intelligence (AI) Robots Market Report
- Which factors are expected to fuel the growth of the global artificial intelligence (AI) robots market by 2031?
- How does the report's description of the AI robotics market's dominance of hardware components like GPUs stem from the spike in demand for powerful computational power?
- What part does the exponential expansion in data availability play in fostering the development of machine learning technology in the market for AI robots?
This report provides the following insights:
- Analysis of key drivers (Growing popularity of industry 4.0 trend, improving efficiency through automation, robust R&D in robot technology and promoting operational efficiency), restraints (Procuring and deploying AI robots is expensive, added maintenance & repair cost and devastating impact on the overall workforce), opportunities (Increasing requirement of social robots to interact, use of robots in various assistance task and major companies increase focus on developing robots), and challenges (Making decisions that are safe for humans and developing perfect AI systems for robots ) influencing the growth of artificial intelligence (AI) robots market.
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the artificial intelligence (AI) robots market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the artificial intelligence (AI) robots market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
Related Reports:
Global Artificial Intelligence Market
Global Artificial Intelligence of Things (AIoT) Market
Global Edge Artificial Intelligence (AI) Market
Global Artificial Intelligence (AI) Hardware Market
Global Artificial Intelligence (AI) in Banking, Financial Services, and Insurance (BFSI) Market
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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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