Artificial Intelligence Robots Market Size to Worth USD 124.26 Bn by 2034

Ottawa, Oct. 22, 2024 (GLOBE NEWSWIRE) -- According to Precedence Research, the global artificial intelligence (AI) robots market size is calculated at USD 17.09 billion in 2024 and is expected to hit around USD 101.03 billion by 2033. The artificial intelligence (AI) robots market is driven by the increasing use of robots in industrial operations. Incorporating artificial intelligence (AI) technologies in machinery is changing the scope of robotics by empowering them to perform difficult activities and make them more productive. AI robots perform repetitive tasks more effectively. They find applications in various fields, including space explorations, household chores, surgical procedures, and military operations.

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The worldwide artificial intelligence (AI) robots market has experienced significant growth in the past few years and is expected to continue growing in the coming years due to the increasing acceptance of AI-driven technologies in industrial automation to reduce human errors.

Key Insights

• North America region has accounted revenue share of 33.12% in 2023.
• Asia-Pacific is poised to reach at a CAGR of 21.9% from 2024 to 2034.
• By offering, the services segment has generated highest revenue share of 37.14% in 2023.
• By offering, the hardware segment is expected to grow at a CAGR of 21.8% between 2024 and 2034.
• By robot type, the industrial robots segment has captured revenue share of 60.51% in 2023.
• By robot type, the service robots segment is expanding at a CAGR of 21.6% over the forecast period.
• By technology, the machine learning segment has accounted revenue share of 34.98% in 2023.
• By technology, the context awareness segment is growing at a CAGR of 21.6% from 2024 to 2034.
• By deployment mode, the cloud segment has accounted revenue share of 53.86% in 2023.
• By deployment mode, the on-premises segment is expanding at a CAGR of 21.4% between 2024 and 2034.

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Regional Stance

North America dominated the artificial intelligence (AI) robots market in 2023. Research and development activities, establishment of specialized institutes, and government funding for artificial intelligence projects are the major contributors behind the flourishing North American AI robots market. The increasing adoption of AI robots for public safety and transportation further contributed to region's dominance. In addition, with the rising technological advancements, there is a strong focus on designing and developing advanced robotics, which can be intended for interaction with human beings.

The U.S. artificial intelligence (AI) robots market size was valued at USD 4.43 billion in 2023 and is expected to reach around USD 31.60 billion by 2033.

Asia Pacific is expected to register the fastest CAGR during the forecast period. The boom in AI robots, especially in countries like Japan, China, and India, is driving the market in the region. With a rise in demand for higher productivity in industrial production, robotics are being increasingly adopted. Moreover, the rising industrialization in countries like India and China is expected to contribute to market expansion in the Asia Pacific.

• In September 2024, Zen Technologies Ltd, a defense training solution firm, partnered with its subsidiary AI Turing Technologies and launched four innovative remote-controlled weapon and surveillance systems to enhancing defense capabilities.
  

Offering Insights

The hardware segment is projected to expand at the significant growth rate in the coming years. AI refers to machines that can perform cognitive functions such as learning and thinking. AI robot hardware includes CPUs, TPUs, GPUs, FPGAs, ASICs, and NNPs. Several performance indicators, such as FLOPS, TOPS, latency, throughput, and efficiency, are significant when testing AI hardware. AI hardware's performance is heavily dependent on the quantization techniques selected for a given application, hence ensuring high performance and applicability for AI works.

Artificial Intelligence (AI) Robots Market, By Offering 2022-2024 (USD Million)

Robot Type Insights

The industrial robots segment dominated the artificial intelligence (AI) robots market with the largest share in 2023. This is primarily due to the increasing focus on industrial automation. Robots are widely used in manufacturing operations, such as fabrication, assembly, and material transfer operations. When a hazard is detected, these robots can be programmed to slow down or stop movement, enabling safe operations and protecting workers from injury. The productivity is also enhanced as they will undertake the same assignment without resting for the whole duration. They also cut down labor, raw materials, and power consumption expenses. They can be programmed to perform precise work, remove human error, and improve accuracy in welding operations. They also occupy less space and need less maintenance.

• In March 2024, Teradyne Robotics and NVIDIA partnered to bring AI capabilities in industrial robots, marking a significant leap toward artificial general robotics.
  

The service robot segment is anticipated to grow at a significant rate in the artificial intelligence (AI) robots market during the forecast period. Various industries are incorporating service robotics to improve the customers' experience and the efficiency of operations. These robots are used in the healthcare, retailing, logistics, hospitality, education, and farming industries. In hospitals, sterilization robots are utilized to ensure the safety of patients and aid in carrying out the patient's care service. In retailing, they are deployed in stores to enhance the shopping experience and help run the business more efficiently. The demand for robotic systems is on the rise in logistics businesses. These robots help to prepare orders and deliver packages to their customers. In learning institutions, for instance, robots can improve training for every individual.  Service robots have a wide range of advantages, one of which is increased safety, an increase in efficiency, a decrease in expenditure, and improved accuracy.

Artificial Intelligence (AI) Robots Market, By Robot Type 2022-2024 (USD Million)

Technology Insights

The machine learning segment dominated the artificial intelligence (AI) robots market in 2023. The advent of robotics combined with machine learning has transformed robots' functionalities, resulting in their utilization in several fields, including inspection, maintenance, security, production, and even medical care. Machine learning algorithms improve the quality and prediction of surveillance tasks, thus increasing manufacturing efficiency and productivity. In healthcare, however, in addition to making the exact surgery or the appropriate diagnosis, these robots take on individual patient care responsibilities, considerably boosting the worth of such technology in this sphere.

Artificial Intelligence (AI) Robots Market, By Technology 2022-2024 (USD Million)

Market Dynamics

Driver

High demand for robots in the healthcare sector to fuel the growth of the artificial intelligence (AI) robots market

The healthcare industry is being transformed through the implementation of AI robots in surgical procedures and patient care. For instance, Tru-D is a self-operating robot that disinfects hospital surfaces, thus preventing the risk of bacteria for both the patients and the caregivers. Moxi by Diligent Robotics supports the clinical staff by helping distribute sterile instruments, lab samples, and medicine deliveries. Futronics’ healthcare information technology ecosystem primarily focuses on patient monitoring systems or units as it provides 24-hour gathering and processing of patients’ consciousness vitals. In addition, these robots help patients with mobility. Surgical robots, like Mako by the Stryker Company, have emerged as advanced robotics, helping surgeons in hip and knee replacement surgeries.

• In September 2024, Pudu Robotics introduced the PUDU MT1, an AI-powered robotic sweeper designed for large-scale environments. This sweeper enhances cleaning efficiency and maintains high cleanliness standards.
  

Restraint

Ethical issues restrain the growth of the market

The role of ethics in artificial intelligence evokes much debate, primarily due to issues such as the infringement of individual privacy, the predisposition toward bias, and its societal effects. The development of AI-driven systems presents ethical issues, for example, in surveillance systems. When implementing AI across all sectors, especially the health and criminal justice systems, it is vital to concentrate on ethical principles to promote equitable results. Despite technological advancements, it is very important to provide fair and open work without violating any human rights in addressing ethical problems in artificial intelligence.

Opportunity

Technological advancements to create immense opportunities in the artificial intelligence (AI) robots market

Because of advances in machine learning and artificial intelligence, ordinary machines are now revolutionizing with advanced features. AI algorithms help robots gain the fine motor skills required to grasp objects, resulting in enhanced recognition of their surroundings, identification patterns, and data comprehension. This further enhances the robot’s autonomy and reduces maintenance.

Recent Developments in the Artificial Intelligence (AI) Robots Market

• In October 2024, WEILAN, a leading AI and robotics company, launched the upgraded BabyAlpha A2 series, a smart quadruped petbot for family companions, and the developer version, BabyAlpha DevQ, for engineers and developers worldwide.
• In August 2024, Nvidia launched a suite of services and tools at Siggraph 2024 to accelerate the development of humanoid robots, including Nvidia NIM microservices, Nvidia OSMO, and a remote-control workflow for training robots with minimal data.
• In July 2024, AI Turing Technologies and Zen Technologies introduced the Prahasta robot, a revolutionary tool for real-time 3D terrain mapping in the global defense market.
  

Check out more related studies published by Precedence Research:

• Sanitization Robots Market - The global sanitization robots market size was valued at USD 1.50 billion in 2022 and is predicted to reach USD 4.32 billion by the end of 2032, representing an impressive CAGR of 11.20% during the forecast period 2023 to 2032.
• Healthcare Service Robots Market - The global healthcare service robots market size was valued at USD 4.33 billion in 2023 and is expected to hit USD 8.02 billion by 2032, registering a CAGR of 7.1% during the forecast period 2023 to 2032.
• Autonomous Mobile Robots Market - The global autonomous mobile robots market size accounted for USD 2.76 billion in 2022 and is projected to hit around USD 19.78 billion by 2032 with a registered CAGR of 22.3% during the forecast period 2023 to 2032.
• Spine Surgery Robots Market - The global spine surgery robots market size was exhibited at USD 162.9 million in 2022 and is projected to hit around USD 537.36 million by 2032, growing at a CAGR of 12.68% during the forecast period 2023 to 2032. Intuitive Surgical Inc. key players generated more than 80% of the market share in 2022.
• Packaging Robots Market - The global packaging robots market size is projected to reach around USD 15.73 billion by 2032 and growing at a CAGR of 10.87% between 2023 and 2032.
  

Artificial Intelligence (AI) Robots Market Top Companies

• 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
• Yaskawa
  

Market Segmentation

By Offering

• Software
• Hardware
• Services
  

By Robot Type

• Service Robots
• Industrial Robots
• Others
  

By Technology

• Machine Learning
• Computer Vision
• Context Awareness
• Natural Language Processing

By Deployment Mode

• Cloud
• On-premises

By Application

• Law Enforcement
  • Road Patrol
  • Riot Control
• Military & Defense
  • Border Security
  • Search and Rescue Operations
  • Combat Operations
  • Spying
• Public Relations
  • Reception Robots
  • Tour Guiding Robots
• Personal Assistance and Care
  • Elderly Assistance Robots
  • Companion Robots
• Education and Entertainment
• Research and Space exploration
• Industrial
• Agriculture
• Healthcare Assistants
• Stock Management
• Others
  

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)
  

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