The artificial intelligence (AI) robots market has witnessed significant growth over the past few years owing to increasing demand for automation across various sectors. AI robots are equipped with advanced technologies such as computer vision, context awareness, and machine learning that enable them to assist humans in different applications such as manufacturing, services, healthcare, defense, agriculture, and more. The ability of AI robots to perform human tasks with high precision and efficiency as well as deal with complex and hazardous situations is fueling their adoption globally.
The global AI robots market is estimated to be valued at US$ 111.65 billion in 2024 and is expected to exhibit a CAGR of 32% over the forecast period from 2024 to 2031.
Key Takeaways
Key players: 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.
Key opportunities:
Increasing R&D in AI, rising focus on industrial automation, growing demand for service robots in healthcare and hospitality sectors, and expansion of AI-based smart cities present significant growth opportunities for players in the AI robots market.
Global expansion: Leading manufacturers are expanding their manufacturing facilities and R&D centers across major markets to cater to the growing demand for AI robots globally. Strategic collaborations with tech companies and users are also helping manufacturers strengthen their presence and customer base worldwide.
Market drivers:
The main driver for the growth of the AI robots market is the rising demand for automation across various industries due to benefits such as reduced costs, improved quality, minimized human errors, and efficient utilization of resources. Automation through AI robots improves productivity, helps mitigate labor shortages, and allows companies to scale and expand their operations globally. This is expected to propel the adoption of AI robots over the forecast period.
PEST Analysis
Political: AI robots are raising questions about job losses and how governments will manage workforce transitions. Policymakers are exploring regulations around robotics and their impact.
Economic: The AI robot market is growing rapidly as businesses seek to improve productivity and reduce costs through automation. However, widespread robot adoption could significantly impact employment in some sectors.
Social: While robots are increasingly useful assistants, some people worry about roles traditionally performed by humans being replaced. Public perception and adoption will depend on how robots are designed to integrate and interact safely with people.
Technological: Advances in machine learning, computer vision, voice recognition and other technologies are enhancing robot capabilities. Collaborative robots designed for tasks like logistics and manufacturing are becoming more common. Further technological breakthroughs will expand the potential for AI applications.
Geographical Regions of Concentration
The market for AI robots is globally concentrated in developed nations with high labor costs and advanced technological capabilities. Currently over half the total market value is focused in North America and Western Europe. China and other parts of Asia are rapidly scaling up investments in robotics and expected to account for a rising share in coming years.
Fastest Growing Region
The Asia Pacific region excluding Japan is projected to experience the fastest growth in the AI robot market over the forecast period. Countries like China, South Korea and India are making large government investments to drive robotics R&D and commercial applications across manufacturing, agriculture and services. An expanding middle class, growing industrialization and policy support are fueling the region’s rise as a majorhub for robotics innovation and adoption.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it