Global AI Robots
Market Overview
In its research report, Market Research Future
(MRFR), emphasizes that the global AI Robots Market 2020 is expected to grow
exponentially, securing a substantial market valuation from USD 2.96 billion in
2017 to USD 12.01 billion by 2023, and a healthy 28.24% CAGR over the review
period.
Drivers and Restraints
Driven by the secure consumer base and government
support, the AI robot market is expected to make smooth progress in the coming
years. AI robots are the pinnacle of what is technologically feasible in the
field of robotics and are being used in increasingly diverse applications. AI
robots are incredibly diverse in applicability and are becoming increasingly
diversified as new technologies are discovered continuously. Over the review
period, the growing demand for the adoption of AI robots for companionship and
entertainment is likely to be a significant driver for the global AI robot
market. The development of AI robots for the assistance of the
differently-abled and geriatrics is likely to be a significant avenue for the
global AI robot market over the forecast period.
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Although the use of AI robots for companionship and
entertainment has caught the imagination of the public, the enormous utility of
AI robots means that they are more likely to be put to practical use in the
coming years, with geriatric treatment and supporting the otherwise-abled likely
to be manage to the top of the list. Through the introduction of AI robotics,
the healthcare sector will receive a tremendous boost, as the robots' simple
programmability will reduce the burden on the primary caregiver and ensure
continuity in healthcare delivery.
On the other hand, the lack of a consistent set of
AI robot standards could hamper the growth of the market for AI robots in the
coming years. Although AI robots were a technological masterstroke, numerous
inventions were credited to different players resulting in a diverse collection
of standards.
Segmental Analysis
The global AI robots market is segmented in terms of
offering, type, technology, application, and region.
By offering, the global AI robots market is
bifurcated into software and hardware. The software segment is divided into AI
platforms and AI solutions, while the hardware segment contains the storage
devices, processors, and network devices segments.
Based on the type, the global AI robots market is
divided into service robots and industrial robots.
Based on the technology, the global AI robots market
is segmented into context awareness, machine learning, computer vision, and
natural language processing.
By application, the AI robots market is divided into
law enforcement, public relations, military and defense, personal assistance
and care, research and space exploration, agriculture, education and
entertainment, industrial, healthcare, stock management, and others.
Regional Analysis
The geographical overview of the global market has
been conducted in four major regions, including the Asia Pacific, North
America, Europe, and the rest of the world.
Thanks to the fast growth of the robotics industry
in countries such as the US, North America is the leading regional market for
AI robots. Rapid robotics technology growth is likely to ensure North America's
supremacy over the projected period on the global AI robots market. The
healthcare sector, as well as the region's retail and military sectors are
highly supportive towards robotics, leading to favorable growth prospects over
the forecast period for the AI robots industry.
Due to the rapid technological growth in countries
like China, India and Japan, where robotics has emerged as a foremost field of
study in recent years, Asia Pacific is anticipated to be the fastest rising
regional market for AI robots over the review period.
Competitive Analysis
The major market players operating in the global
market as identified by MRFR are NVIDIA, ABB, Intel, Alphabet, Microsoft,
Xilinx, IBM, Harman International Industries, Fanuc, Kuka, Amazon, Blue Frog
Robotics, Asustek Computer, Promobot, Softbank, Mayfield Robotics, Neurala,
Hanson Robots, LG, and Jibo.
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