AI Robots Market Projected to Hit USD 44.5 Billion at a 22.30% CAGR by 2030- Report by Market Research Future (MRFR)


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New York, US, Feb. 27, 2023 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), ” AI Robots Market by offering, by type by technology, by application forecast till 2030”, the market is predicted to thrive substantially during the assessment era from 2022 to 2030 at a healthy CAGR of approximately 22.30% to attain a valuation of around USD 44.5 Billion by the end of 2030.

The pinnacle of robotics as it exists today is AI robotics. Due to widespread backing from the government and popular culture, the market for AI robots is anticipated to grow smoothly throughout the ensuing years. AI robots are being deployed in a growing number of applications and represent the technological apex of what is currently achievable in the field of robotics. AI robots have a wide range of applications, and this range is expanding as more and more novel uses are constantly found.

During the forecast period, the market for AI robots is expected to be significantly influenced by the rising demand for the adoption of AI robots for entertainment and companionship.

On the other side, the lack of a set of international standards for AI robots may limit the market’s expansion in the years to come. Although being a technical marvel, AI robots have given rise to a variety of standards since various innovations have been credited to various participants. The establishment of a standardised set of standards can be anticipated as the technology becomes more approachable to users over the ensuing years, which would aid in facilitating the market expansion for AI robots.

During the course of the forecast period, the market for AI robots is projected to see significant growth in the creation of robots to help the elderly and people with disabilities. While the public has been fascinated by the usage of AI robots for entertainment and companionship, their tremendous utility means that in the years to come, they are more likely to be put to better use, with geriatric care and helping the differently abled likely to be near the top of the list. With the introduction of AI robots, the healthcare industry would experience a significant boost since the primary caregiver’s workload would be reduced and consistent healthcare delivery would be ensured.

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AI Robots Market Report Scope:

Report Metrics Details
AI Robots Market Size by 2030 44.5 billion (2030)
AI Robots Market CAGR during 2022-2030 22.30%
Base Year 2020
Forecast 2022-2030
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Market Drivers The development of a uniform set of standards can be expected

The market for AI robots is anticipated to grow smoothly over the next few years, supported by a stable consumer base and strong government support. Robots powered by artificial intelligence (AI) represent the technological apex of robotics and are being used in a growing number of applications. The applications of AI robots are immensely varied, and they are constantly expanding as new technologies are discovered. The growing demand for AI robot adoption for companionship and entertainment is projected to be a major driver for the global AI robot market during the course of the research period. During the course of the forecast period, the global market for AI robots is projected to see substantial growth in the creation of robots to help the elderly and those with disabilities.

Although the public has shown interest in using AI robots as companions and entertainment, their immense utility makes it more likely that they will be used in practical applications in the years to come, with geriatric treatment and supporting the otherwise-abled likely to be at the top of the list. The introduction of AI robotics will have a significant positive impact on the healthcare industry since it will ease the strain on primary carers and maintain continuity of care thanks to the robots’ straightforward programmability.

On the other side, the absence of a set of uniform standards for AI robots may limit the market for these devices’ future expansion.

Although AI robots were a technological marvel, a variety of innovations that were credited to various participants led to a wide range of standards.

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On the basis of offering, kind, technology, application, and region, the market for AI robots is divided into submarkets. The market is segmented into software and hardware by offering. The two categories of software are AI platforms and AI solutions. In contrast, hardware is divided into CPUs, storage, and networking components.

The market for AI robots is divided into two types, service robots and industrial robots. There are three types of service robots: ground, underwater, and airborne. Industrial robots, on the other hand, are divided into traditional and collaborative industrial robots. Traditional robots include cartesian, parallel, Scara, and articulated robots, among others.

Machine learning, context awareness, computer vision, and natural language processing are the different categories within technology.

Law enforcement, military & defence, PR, personal assistance & care, education & entertainment robots, research & space exploration, agricultural, healthcare, industrial, stock management, and others are some of the major market applications.

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Competitive Analysis:

Leading players in the global AI robots market include

  • ABB
  • Intel
  • Microsoft
  • Alphabet
  • IBM
  • Harman International Industries
  • Xilinx
  • Fanuc
  • Kuka
  • Amazon
  • Blue Frog Robotics
  • Promobot
  • Softbank
  • Hanson Robots
  • Mayfield Robotics
  • Neurala
  • LG
  • Asustek Computer
  • Jibo

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Regional Evaluation:

The AI robots market, in terms of geography, includes the most recent trends in North America, Europe, Asia Pacific, and the rest of the world.

North America is the largest geographical market for AI robots because of the rapidly expanding robotics sector in nations like the US. North America’s dominance during the projected period on the global AI robots market is likely to be ensured by the rapid advancement of robotics technology.

The healthcare business, as well as the retail and military sectors in the area, are very supportive of robotics, which will lead to positive growth prospects for the AI robots industry over the projection period. Asia Pacific is expected to have the quickest rate of growth in the regional market for AI robots during the course of the review period due to the countries’ rapid technological development, particularly in China, India, and Japan, where robotics has recently become a top academic discipline.

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