Dublin, Nov. 22, 2024 (GLOBE NEWSWIRE) -- The "Artificial Intelligence in Robotics Global Market Opportunities and Strategies to 2033" report has been added to ResearchAndMarkets.com's offering.
The global artificial intelligence in robotics market reached a value of nearly $13.9 billion in 2023, having grown at a compound annual growth rate (CAGR) of 26.5% since 2018. The market is expected to grow from $13.9 billion in 2023 to $50.2 billion in 2028 at a rate of 29.4%. The market is then expected to grow at a CAGR of 25.9% from 2028 and reach $159 billion in 2033.
Going forward, increasing demand for automation in industries, strong economic growth in emerging markets, increasing adoption of industry 4 model and investments in research and development of AI and robotics will drive the growth. Factor that could hinder the growth of the artificial intelligence in robotics market in the future include lack of skilled personnel and technical expertise.
The artificial intelligence in robotics market is segmented by offering into software, hardware and services. The software market was the largest segment of the artificial intelligence in robotics market segmented by offering, accounting for 45.9% or $6.4 billion of the total in 2023. Going forward, the services segment is expected to be the fastest growing segment in the artificial intelligence in robotics market segmented by offering, at a CAGR of 31.2% during 2023-2028.
The artificial intelligence in robotics market is segmented by robot type into service robots and industrial robots. The industrial robots market was the largest segment of the artificial intelligence in robotics market segmented by robot type, accounting for 56% or $7.7 billion of the total in 2023. Going forward, the service robots segment is expected to be the fastest growing segment in the artificial intelligence in robotics market segmented by robot type, at a CAGR of 30.2% during 2023-2028.
The artificial intelligence in robotics market is segmented by end-use industry into transportation, security, retail, healthcare, manufacturing and other end-use industries. The manufacturing market was the largest segment of the artificial intelligence in robotics market segmented by end-use industry, accounting for 63.9% or $8.9 billion of the total in 2023. Going forward, the healthcare segment is expected to be the fastest growing segment in the artificial intelligence in robotics market segmented by end-use industry, at a CAGR of 34.8% during 2023-2028.
The artificial intelligence in robotics market is segmented by deployment mode into cloud and on-premises. The cloud market was the largest segment of the artificial intelligence in robotics market segmented by deployment mode, accounting for 58.9% or $8.2 billion of the total in 2023. Going forward, the cloud segment is expected to be the fastest growing segment in the artificial intelligence in robotics market segmented by deployment mode, at a CAGR of 30.6% during 2023-2028.
The artificial intelligence in robotics market is segmented by technology into machine learning, computer vision, context awareness and natural language processing. The machine learning market was the largest segment of the artificial intelligence in robotics market segmented by technology, accounting for 34% or $4.7 billion of the total in 2023. Going forward, the machine learning segment is expected to be the fastest growing segment in the artificial intelligence in robotics market segmented by technology, at a CAGR of 31.3% during 2023-2028.
North America was the largest region in the artificial intelligence in robotics market, accounting for 38.1% or $5.3 billion of the total in 2023. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the artificial intelligence in robotics market will be Asia Pacific and North America where growth will be at CAGRs of 30.8% and 29.6% respectively. These will be followed by South America and Western Europe where the markets are expected to grow at CAGRs of 29.2% and 28.4% respectively.
The global artificial intelligence in robotics market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 34.99% of the total market in 2022. NVIDIA Corporation was the largest competitor with a 6.77% share of the market, followed by iRobot Corporation with 5.92%, International Business Machine Corporation with 4.86%, FANUC Corporation with 4.55%, Alphabet Inc. with 3.41%, General Motors Company with 3.15%, Keller und Knappich Augsburg Robotics with 2.89%, Intel Corporation with 1.58%, Microsoft Corporation with 1.06%, and Amazon Robotics LLC with 0.80%.
The top opportunities in the artificial intelligence in robotics market segmented by offering will arise in the software segment, which will gain $17.1 billion of global annual sales by 2028. The top opportunities in the artificial intelligence in robotics market segmented by robot type will arise in the industrial robots segment, which will gain $19.6 billion of global annual sales by 2028. The top opportunities in the artificial intelligence in robotics market segmented by end-use industry will arise in the manufacturing segment, which will gain $24.1 billion of global annual sales by 2028.
The top opportunities in the artificial intelligence in robotics market segmented by deployment mode will arise in the cloud segment, which will gain $22.9 billion of global annual sales by 2028. The top opportunities in the artificial intelligence in robotics market segmented by technology will arise in the machine learning segment, which will gain $13.7 billion of global annual sales by 2028. The artificial intelligence in robotics market size will gain the most in the USA at $12.5 billion.
Market-trend-based strategies for the artificial intelligence in robotics market include focus on the launch of new and advanced ai-enabled robots to optimize efficiency and reliability, investing in startups combining AI with robotics and leveraging advanced technologies for enhanced functionalities and capabilities, introducing novel software platforms, merging AI and robotics, which hold implications across various sectors and focus on strategic partnerships and collaborations for advancements in the products, strengthening their market position, enhancing product offerings and expanding their geographic reach.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 305 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $13.9 Billion |
| Forecasted Market Value (USD) by 2033 | $159 Billion |
| Compound Annual Growth Rate | 27.6% |
| Regions Covered | Global |
Major Market Trends
- Launch of New and Advanced AI-Enabled Robots to Optimize Efficiency and Reliability
- Investment in Start-Ups that Combine Ai with Robotics for Enhanced Functionalities and Capabilities
- Introduction of New Software Platforms for Ai in Commercial Robotics
- Strategic Partnerships and Collaborations Among Market Players
Competitive Landscape and Company Profiles
- Nvidia Corporation
- IRobot Corporation
- International Business Machines Corporation (IBM)
- FANUC Corporation
- Alphabet Inc.
Other Major and Innovative Companies
- General Motors Company
- Keller Und Knappich Augsburg Robotics
- Intel Corporation
- Microsoft Corporation
- Amazon Robotics
- Boston Dynamics Inc.
- Mitsubishi Electric Corporation
- SoftBank Robotics Group Corp.
- Palantir Technologies Inc.
- Yaskawa Electric Corporation
- Medtronic Plc
- Asea Brown Boveri Robotics
- Universal Robots
- Hanson Robotics Ltd.
- Robotic Materials Inc.
Key Mergers and Acquisitions
- Tokens.com Corp. Acquired Simulacra Corporation
- ABB Acquired Sevensense
- Cheetah Mobile Acquired OrionStar Technology
- AeroVironment Acquired Tomahawk Robotics
- Terex Materials Processing (MP) Acquired ZenRobotics
- Nintex Acquired Kryon
For more information about this report visit https://www.researchandmarkets.com/r/o9s5g
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