%20Robots%20Market.jpg "Artificial Intelligence (AI) Robots Market Growth") |
| Artificial Intelligence (AI) Robots Market Growth |
The Artificial Intelligence (AI) Robots market comprises robots that are
capable of performing tasks autonomously with the help of AI technologies.
These robots can analyze complex data, learn from experiences, and identify
objects, similar to human vision. They are highly useful for industrial
processes that involve repetitive operations or those that need to be performed
24/7. The advantages of AI robots include increased productivity, quality
control, precision, and efficiency. They eliminate human errors and help
organizations optimize production costs. Additionally, rising labor costs and
shortage of human workforce are driving companies to adopt industrial robots
for automation.
The Global
Artificial Intelligence (AI) Robots Market is estimated to be valued at US$
111.65 Bn in 2024 and is expected to exhibit a CAGR of 32.% over the forecast
period 2024 to 2031.
Key Takeaways
Key players operating in the Artificial
Intelligence (AI) Robots Market Growth are ABB , AIBrain, Inc.,
Alphabet , Argo AI, LLC, Blue Frog Robotics & Buddy - Emotional Robot,
Brain Corporation, CloudMinds Technology Inc., DataRobot, Inc., Fanuc, Hanson
Robotics Ltd., Harman International Industries, IBM Corporation, Intel
Corporation, International Business Machines Corporation, Kawasaki, Microsoft
Corporation, Mitsubishi, Neurala, Inc., NVIDIA Corporation, Omron, Promobot,
SoftBank Corp., UB Tech Robotics, Inc., Veo Robotics, Inc., Vicarious, Xilinx,
and Yaskawa. The industrial robotics sector is experiencing a growing demand
for collaborative robots that can work safely alongside humans without the need
for safety cages. Some key players are focusing on developing human-aware
collaborative robot systems for factories and warehouses. Technological
advancements like machine learning, computer vision, advanced sensors and
controls are allowing robots to develop more human-like capabilities, automate
complex tasks and operate safely around humans.
Market Trends
Some of the key trends in the AI robots market include increased adoption of
collaborative robots for optimized productivity. Collaborative robots or
“cobots” are gaining more acceptance as they allow easy integration of robots
in existing workflows without much infrastructure changes. Another major trend
is the development of soft robotics which involves the use of flexible and
compliant materials to build safe, versatile and easily deployable robots. Soft
robotics helps overcome limitations of rigid materials and expands application areas.
Market Opportunities
The AI robots market provides opportunities for development of human-aware
safety systems. Machines integrating advanced sensors, machine learning
algorithms and responding in split seconds help secure human-robot
collaboration. Another key opportunity lies in accelerating adoption of AI
robots in healthcare for applications like patient assistance, telehealth,
pharmacy automation and assisted living. Human-centered design of medical
robots can revolutionize eldercare and post-pandemic needs.
Impact of COVID-19 on Artificial Intelligence (AI) Robots Market
The COVID-19 pandemic has significantly impacted the growth of the artificial
intelligence (AI) robots market. Companies in various sectors have realized the
importance of robots for operations during such situations. Robots can be
deployed in sectors like healthcare, manufacturing and warehouse operations
without risking human lives.
In the healthcare sector, AI robots saw increased adoption for tasks like
delivery of medicines and food to covid patients, disinfecting hospital wards
and monitoring patients remotely. This reduced the workload of frontline
healthcare workers and minimised human contact.
The manufacturing industry faced shutdowns and labour shortages during lockdowns.
AI robots helped fill this gap and ensured business continuity through tasks
like production, packaging and material handling. This exemplified their
benefits for critical manufacturing processes.
Warehousing and logistics faced disruptions due to restrictions. Robots
streamlined operations through autonomous order fulfillment, inventory
management and contactless deliveries. This kept essential supplies flowing
smoothly.
However, supply chain delays impacted robot manufacturing initially. Lockdowns
disrupted component sourcing and delayed new deployments. But post-lockdowns,
demand has rebounded strongly as companies upgrade to solve workforce issues.
Governments also increased funding for AI robot adoption to revive economies.
Going forward, companies will continue prioritizing automation to build
resilience against future crises. AI robots are poised to see growing roles in
several sectors to minimize human dependence. Their ability to work
continuously without fear of the virus makes them critical to withstand
disruptions.
Geographical Impact and Fastest Growing Region
In terms of value, North America accounted for the majority share of the AI
robots market before the pandemic due to large-scale adoption by various
industries in the US and Canada. However, COVID-19 impacted growth in the
short-term due to initial supply chain delays.
Asia Pacific is poised to be the fastest growing region in the coming years.
Countries like China, Japan and South Korea are global leaders in robotics
technology and manufacturing. They have rebounded strongly post-lockdowns,
driving regional demand. Rapid automation of industries will catalyze APAC
growth.
India stands to gain significantly as well. The 'Make in India' program focuses
on establishing a robotics industry to attract manufacturing investments.
Rising labor costs are also pushing companies to deploy robots. Hence, combined
with a hugeTalent pool, India is an emerging hotspot for AI robot developers
and end-users.
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