Generative Artificial Intelligence (AI) in Robotics Market: Size, Scope, and Growth Forecast

The Business Research Company recently released a comprehensive report on the Global Generative Artificial Intelligence (AI) In Robotics Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The generative artificial intelligence (AI) in robotics market size has grown exponentially in recent years. It will grow from $1.19 billion in 2023 to $1.65 billion in 2024 at a compound annual growth rate (CAGR) of 39.1%. The growth in the historic period can be attributed to rise in the number of robotics startups leveraging generative AI, increasing demand for advanced automation in various industries, growth in the need for personalized robotic solutions, increasing investments in AI research and development, and growth in consumer robotics and smart home devices.

The generative artificial intelligence (AI) in robotics market size is expected to see exponential growth in the next few years. It will grow to $6.2 billion in 2028 at a compound annual growth rate (CAGR) of 39.2%. The growth in the forecast period can be attributed to the growing adoption of AI-driven robotics in the service industry, rising demand for flexible manufacturing systems, rising development of generative AI tools for robotic systems, increasing demand for generative AI In precision agriculture, and growing demand for generative AI In disaster response. Major trends in the forecast period include technological advancements, robotic process automation, ethical AI, integration with augmented reality, and the internet of things.

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Market Drivers and Trends:

The increased demand for automation in industries is expected to propel the growth of generative artificial intelligence (AI) in robotics market. The demand for automation refers to the growing need and desire for systems, technologies, and tools that perform tasks with minimal human intervention. Automation in industries is being adopted to address labor shortages, enhance operational efficiency, improve safety, reduce costs, and ensure consistent quality in production processes. Generative AI enables robots to learn and adapt to various tasks and environments, making them indispensable tools in automated processes, aligning with the increasing need for intelligent automation solutions across sectors. For instance, in June 2023, according to the International Federation of Robotics, a Germany-based non-profit organization to promote, strengthen, and protect the robotics industry worldwide, the number of installations of industrial robots in Europe was 72,000 units in 2022, a rise of 6% from 2021. Therefore, the increased demand for automation in industries drives generative artificial intelligence (AI) in robotics market.

Major companies operating in the generative artificial intelligence (AI) in robotics market are developing AI technologies such as vision-language-action models to enhance robots' ability to understand and interact with the world by integrating visual and textual information. A vision-language-action model is a multimodal AI framework that integrates visual data and textual commands to enable robots to understand and perform tasks by generating appropriate actions based on both inputs. For instance, in July 2023, Google, a US-based company specializing in Internet-related services and products, introduced the Robotics Transformer 2 (RT-2). RT-2 is a vision-language-action (VLA) model that learns from vast web-scale data and robotics datasets to generate generalized instructions for robotic control, enabling robots to perform complex tasks with improved reasoning, symbol understanding, and human recognition capabilities. RT-2 improves on its predecessor, RT-1, and achieves more than three times the success rate in emergent skill evaluations, indicating its potential for more diverse and intelligent robotic applications. RT-2 enables robots to generalize beyond their initial training data and adapt to new objects, scenarios, and orders by transferring information from web-scale data and robotics training,

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Major Key Players of the Market:

Google LLC, Microsoft Corporation, Siemens AG, Intel Corporation, International Business Machines Corporation, ABB Ltd., NVIDIA Corporation, Intuitive Surgical Inc., KUKA AG, UiPath Inc., Zoox Inc., Nuro Inc., Boston Dynamics Inc., Locus Robotics Inc., UBTECH Robotics Corp., Velodyne Lidar Inc., Clearpath Robotics Inc., ANYbotics AG, Syntiant Corp., Misty Robotics Inc., Hanson Robotics Ltd., Thymio, PAL Robotics S.L

Generative Artificial Intelligence (AI) In Robotics Market 2024 Key Insights:

• The generative artificial intelligence (AI) in robotics market size is expected to see exponential growth in the next few years. It will grow to $6.2 billion in 2028 at a compound annual growth rate (CAGR) of 39.2%.
• Rising Demand for Automation Fuels Growth in Generative AI for Robotics
• Enhancing Robot Intelligence With The Future Of Vision-Language-Action Models
• North America was the largest region in the generative artificial intelligence (AI) in robotics market in 2023

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