Description
Artificial Intelligence Robots Market to surpass USD 107.3 billion by 2031 from USD 7.8 billion in 2021 at a CAGR of 29.76% within the coming years, i.e., 2021-31.
Artificial Intelligence Robots Market Product Overview
Artificially Intelligent (AI) Robots refer to industrial and service robots that are combined with artificial intelligence (AI) expertise. High implementation of robots for private use, such as entertainment, and rising demand for industrial robots is the foremost factor driving the growth of the artificial intelligence (AI) robot market during the forecast period.
These robots can learn a few repetitive responsibilities without any human interference and can even connect with humans or in some cases with other pier robots.
Market Highlights
Artificial Intelligence Robots Market is predicted to project a notable CAGR of 25.36% in 2031
Growing usage of social media and e-commerce platforms leads to a huge growth in data volume, which further generates the need for more effective workstations for quicker implementation of machine learning tasks.
The artificial intelligence chips report the requirement for faster processing due to empowered machine learning. Implementation of edge-based AI is one of the key trends in chip technology, as running AI processes on a device itself instead of a remote server offers assistance of higher speed and better privacy.
Artificial Intelligence Robots Market: Segments
Service segment to grow with the highest CAGR during 2021-2031
Based on Robot Type, the market is segmented into Service and Industrial. The Service segment holds the highest market share of Artificial Intelligence Robots owing to the increased use outside a manufacturing facility as intended to interact with people usually in retail, hospitality, healthcare, warehouse, or distribution assembly.
Military & Defense Segment to grow with the highest CAGR during 2021-2031
Artificial Intelligence Robots Market by Application is segmented into Public Relations, Military & Defense, Stock Management, and Others. The market size of the Military & Defense segment is anticipated to grow at the highest CAGR during the forecast period.
This is due to to its application, such as the manufacture of efficient warfare systems, chasing cyber-attack trends and creating counter-attack procedures to slab them and lessen transport costs, and rising human operational efforts. Using Automated Stock Monitoring and the capacity to change the system, stock management can upsurge and join the outlook of carrying out and fulfilling an order in a much better way.
Artificial Intelligence Robots Market: Market Dynamics
Drivers
Rise in request for low latency and real-time processing on edge devices
Digitalization has become an important driver of Artificial Intelligence Robot Market. Digitalization is gradually driving everything and Growing usage of social media and e-commerce platforms will subsequently drive the growth of the market. Artificial intelligence technology, driven by big data analytics and cloud computing is helping to link companies to track, communicate, follow and interact with consumers through graceful and cost-effective automated mechanisms
Loyal AI processors for on-device image analytics
AI mobile processors care about computational imaging applications in drones, wearable electronics, robots, scrutiny cameras, and autonomous vehicles. The application of AI-based vision processing units (VPU) can benefit drones to make better decisions and reduce the risk of accidents, which will enhance to the rising demand for drones for industrial and personal use.
Computational imaging and visual awareness applications are enhancing mobile devices by replacing complex optics with basic lens assemblies and multiple apertures; combining images captured by diverse. These factors empower the use of VPUs for a broad range of new application zones and use cases in mobile handsets, tablets, wearable devices, and personal robots.
Restraints
Limited Number of Artificial Intelligence expert
Workforce dealing with AI systems should be aware of technologies, as Artificial Intelligence is a complex system, such as cognitive computing, machine language and machine intelligence, deep learning, and image recognition.
The incorporation of Artificial Intelligence solutions with the existing systems is a difficult mission, which involves wide data processing to replicate the behavior of a human brain. Even slight errors can result in system malfunctioning or failure of a certain resolution, and this can drastically affect products and desired results.
Impact of the COVID-19 on the Artificial Intelligence Robots Market
The COVID-19 pandemic has boosted new applications and technological developments within the segment. It has enhanced the adoption of AI and Advanced Learning in sectors such as healthcare, education, and many more. AI-based tools and solutions are being organized at scale for replying to the emergency.
Technology giants such as Apple, Facebook, Microsoft, Google, and Amazon are taking initiatives related to distance communications between patients and clinicians, teacher and student, contact tracing, and drug development. The COVID-19 crisis has armored the need to transform the conventional education system into one driven by technology.
Artificial Intelligence Robots Market: Key Players
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Welltok, Inc.
Nvidia Corporation
Google Inc.
IBM
Microsoft Corporation
General Vision
Enlitic, Inc.
Next IT Corporation
iCarbonX
Amazon Web Services Inc.
Apple Inc.
Facebook Inc.
Siemens
General Electric
Micron Technology
Samsung
Xillinx
Iteris
Atomwise, Inc.
Raven Industries
NVIDIA Corporation
Other prominent players
Artificial Intelligence Robots Market: Regions
Artificial Intelligence Robots Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa.
Asia Pacific is estimated to contribute the largest share of the Artificial Intelligence Robots Market during the forecast period due to governments’ growing focus on having in-house AI applications production and constant investments in artificial intelligence-related technologies Moreover, large number of players functioning in this region also influence to drive growth of the market in North America.
North America also holds a major share of the global market. The market in the region is also projected to register the highest CAGR during the forecast period.
Artificial Intelligence Robots Market is further segmented by region into:
North America Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-United States and Canada
Latin America Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR- United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
Asia Pacific Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Artificial Intelligence Robots Market report also contains analysis on:
Artificial Intelligence Robots Market Segments:
By Type
Service
Industrial
By Technology
Machine Learning
Computer Vision
Others
By Application
Public Relations
Military & Defense
Stock Management
Others
By Function
Training
Inference
Artificial Intelligence Robots Market Dynamics
Artificial Intelligence Robots Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value chain of the Market
Market Drivers and Restraints
Artificial Intelligence Robots Market Report Scope and Segmentation
Report Attribute Details
Market size value in 2021 USD 7.8 billion
Revenue forecast in 2031 USD 107.3 billion
Growth Rate CAGR of 29.76% from 2021 to 2031
Base year for estimation 2021
Quantitative units Revenue in USD million and CAGR from 2021 to 2031
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Type, Technology, Application, Function, and Region
Region scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
Key companies profiled Welltok, Inc., Intel Corporation, Nvidia Corporation, Google Inc., IBM, Microsoft Corporation, General Vision, Enlitic, Inc., Next IT Corporation, iCarbonX, Amazon Web Services Inc., Apple Inc., Facebook Inc., Siemens, General Electric, Micron Technology, Samsung, Xillinx, Iteris, Atomwise, Inc., Lifegraph, Sense.ly, Inc., Zebra Medical Vision, Inc., Baidu, Inc., H2O ai, Enlitic, Inc. and Raven Industries
