Artificial Intelligence Robots Market Report

Market Insights

The global artificial intelligence robots market is expected to grow from USD 7.23 billion in 2022 to USD 67.78 billion by 2029 at a CAGR of 37.7% during the forecast period.

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What is Artificial Intelligence (AI) Robot?

Artificial Intelligence (AI) robots are machines that use advanced algorithms and machine learning techniques to simulate human intelligence and behavior. These robots are designed to perform tasks that require cognitive abilities such as perception, reasoning, learning, decision-making, and communication.

AI robots can be used in various fields such as healthcare, manufacturing, entertainment, and education. They are capable of completing repetitive and dangerous tasks that are too difficult or impossible for humans to do. AI robots can be programmed to adapt and learn from their surroundings, making them more efficient and effective over time.

In recent years, the market for AI robots has experienced substantial growth, driven by an increased demand for industrial robots and a surge in the use of AI robots in the healthcare industry to manage the COVID-19 pandemic.

Key Players

The major players operating in the global artificial intelligence robots market are:

• Softbank
• NVIDIA
• Intel
• Microsoft
• IBM
• Hanson Robotics
• Alphabet
• Harman International
• Xilinx
• ABB
• KUKA
• Fanuc
• Blue Frog Robotics
• Promobot
• Jibo
• LG
• Neurala
• F&P Personal Robotics
• Stäubli
• Rethink Robotics
• Boston Dynamics
• Diligent Robotics
• Franka Emika
• Pal Robotics
• Comau

Market Dynamics

Driver: Increasing demand for industrial robots

The increasing demand for industrial robots is related to AI in robotics because AI is a key technology that is enabling robots to become smarter and more adaptable to different environments and tasks.

Industrial robots are used in manufacturing and other industries to automate repetitive or dangerous tasks, improve efficiency, and reduce costs. In the past, these robots were programmed to perform specific tasks and could not adapt to changing conditions or unexpected situations. However, advances in AI have made it possible for robots to learn and adapt on their own, making them more flexible and responsive to changing conditions.

One of the key ways AI is being used in industrial robotics is through machine learning algorithms. These algorithms allow robots to learn from data and experience, allowing them to improve their performance over time. For example, a robot might use machine learning to analyze sensor data and learn how to better grasp and manipulate objects.

Another way AI is being used in industrial robotics is through natural language processing (NLP) and voice recognition technologies. These technologies allow humans to interact with robots more easily and naturally, enabling them to give instructions and receive feedback from robots in real time.

Restraint: Lack of standardized regulations

The lack of standardized regulations related to AI in robotics is a significant challenge for the development and adoption of AI-powered robots. Currently, there are no globally recognized standards or regulations for AI in robotics, which can create uncertainty for manufacturers, end-users, and regulators.

One of the main issues with the lack of standardized regulations is that it can lead to inconsistency in the way AI-powered robots are designed, built, and used. This can create safety concerns and make it difficult to assess the risks associated with using AI-powered robots. For example, a robot that has not been properly designed or tested may pose a danger to workers or the public.

Another challenge with the lack of standardized regulations is that it can make it difficult for companies to compete on a level playing field. Companies that are able to develop and use advanced AI technologies may have a competitive advantage over those that are not, which could lead to market imbalances and hinder innovation.

In addition, the lack of standardized regulations can make it difficult for governments to regulate AI-powered robots effectively. Without clear standards and regulations, it can be difficult for governments to determine which robots are safe and which ones are not. This can create challenges for regulators who are tasked with ensuring public safety while also promoting innovation.

Opportunity: Development of robots with special application cases

Social robots are a type of robot that is designed to interact with humans in a social and emotional way. They use AI and other technologies to recognize and respond to human emotions, gestures, and speech, allowing them to communicate and interact with humans in a more natural and intuitive way.

Social robots can be used in a variety of settings, including healthcare, education, and entertainment. For example, a social robot might be used in a hospital to provide emotional support to patients, or in a classroom to help teach children social skills.

One of the key features of social robots is their ability to use natural language processing (NLP) to understand and respond to human speech. This allows them to have conversations with humans, answer questions, and provide information in a way that is more intuitive and engaging than traditional computer interfaces.

Social robots also use computer vision and other technologies to recognize and respond to human emotions and gestures. This allows them to provide emotional support and respond appropriately to human needs and preferences.

AI is a key technology that enables social robots to learn and adapt to their environment and users. Machine learning algorithms allow social robots to improve their performance over time by analyzing data and learning from experience. This allows them to become more effective at interacting with humans and providing emotional support and assistance.

Challenge: Development of AI to support robots make better decisions and deliver better safety to humans

Although robots have become increasingly intelligent and autonomous in recent years, they still lack moral reasoning capabilities. One significant obstacle to developing moral reasoning in robots is the absence of a universal set of human morals. Morality is culturally specific, continuously evolving, and subject to endless debate, making it a daunting challenge for players in the AI robots market to create a perfect AI system with moral reasoning abilities.

Segment Analysis

By Application Type

In 2022, the stock management application dominated the AI robots market, and it is expected to continue growing at a significant rate during the forecast period. Robots are increasingly being used for stock management applications, such as warehouse stock management, retail store stock management, and factory stock management. The primary tasks performed by robots for stock management include sorting, sequencing, and delivery.

Regional Analysis

North-America to winteness significant CAGR in the AI robots market over the forecast period. Service robots have been utilized for military and defense applications in the US for many years. Additionally, drones have found their way into various commercial applications such as media and entertainment, precision agriculture, law enforcement, inspection, and surveys. The growing demand for AI-integrated professional service robots, particularly for medical and underwater applications, is fueling the growth of the AI robots market in North America.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Product Portfolio, New Product Launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com

Recent Developments

• In February 2023, Microsoft, through a research paper, showed its ambition to use ChatGPT to control robots through language.
• In October 2022, SoftBank Robotics America and Gausium partnered to expand automated robotic solutions across the US Market.
• In September 2022, NVIDIA announced a series of new hardware and software initiatives that span multiple industries, including healthcare and robotics, all designed to help accelerate the performance, capabilities and adoption of artificial intelligence at the edge.