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Artificial Intelligence (AI) Robots Market Outlook 2024-2033 - Market Research Analysis, Trends, Demand And Overview
Artificial Intelligence (AI) Robots Market Outlook
According to The Business Research Company's, The artificial intelligence (AI) robots market size has grown exponentially in recent years. It will grow from $11.88 billion in 2023 to $15.55 billion in 2024 at a compound annual growth rate (CAGR) of 30.9%. The growth in the historic period can be attributed to advancements in machine learning, rise in industrial automation, collaborative robots (cobots), government initiatives and support, increased computing power.
The artificial intelligence (AI) robots market size is expected to see exponential growth in the next few years. It will grow to $44.29 billion in 2028 at a compound annual growth rate (CAGR) of 29.9%. The growth in the forecast period can be attributed to advancements in ai algorithms, integration of ai in healthcare, expanding applications in service sector, focus on human-robot interaction (hri), environmental monitoring and disaster response. Major trends in the forecast period include human-robot collaboration, edge ai and processing, emotional intelligence integration, customization and modularity, ai in healthcare robotics.
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Market Drivers and Trends:
The rise in demand for industrial robots is expected to propel the growth of the artificial intelligence (AI) robot market going forward. Industrial robots are controllable, programmable devices used in manufacturing and industrial operations to support or replace human labor. AI can enable industrial robots to perform complex tasks such as visual inspection, quality control, and adaptive manufacturing processes with greater autonomy and adaptability. For instance, in May 2023, according to the International Federation of Robotics, a Germany-based professional non-profit organization, global sales of industrial robots increased by 27% from 2020 to 517,385 units in 2021. Therefore, the rise in demand for industrial robots is driving the growth of the artificial intelligence (AI) robot market.
Major companies operating in the artificial intelligence robot market are focusing on innovative technologies, such as the third-generation AI autonomy platform, to sustain their position in the market. An AI autonomy platform is a system that enables machines to operate independently without direct human intervention but within constraints to achieve a goal. For instance, in November 2022, Brain Corp., a US-based autonomous technology company, launched BrainOS, the third-generation autonomy platform for commercial robotic operating systems. It is designed to power the next generation of autonomous commercial robots. BrainOS offers improved localization and navigation performance, enhanced safety and reliability, and improved human-robot interaction. BrainOS provides advanced self-driving capabilities that allow robots to navigate public and commercial spaces and control warehouse environments safely and efficiently.
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Major Key Players of the Market:
Major companies operating in the artificial intelligence (AI) robots market report are Microsoft Corporation, Mitsubishi Motors Corporation, Intel Corporation, The International Business Machines Corporation, SoftBank Group Corp., Nvidia Corporation, Omron Corporation, FANUC CORPORATION, The Yaskawa Electric Corporation, iRobot, Xilinx, Inc., Geek+, Universal Robots, Ubtech Robotics, Brain Corp., Boston Dynamics, Starship Technologies, Vicarious FPC Inc., Diligent Robotics, Cobalt Robotics, Inc., Hanson Robotics Ltd., Blue Frog Robotics, Neurala Inc., Promobot, Miso Robotics
Artificial Intelligence (AI) Robots Market 2024 Key Insights:
• The artificial intelligence (ai) robots market is expected to grow to $44.29 billion in 2028 at a compound annual growth rate (CAGR) of 29.9%.
• Surging Demand For Industrial Robots Ignites Rapid Growth In The Artificial Intelligence (AI) Robot Market
• Third Generation AI Autonomy Platforms Propel Major Companies In The Artificial Intelligence Robots Market
• North America was the largest region in the artificial intelligence (AI) robots market in 2023
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