The artificial intelligence (AI) robots market is expected to grow from USD 3.49 Billion in 2018 to USD 12.36 Billion by 2023, at a CAGR of 28.78% between 2018 and 2023.
Support from governments worldwide to develop modern technologies is driving the growth of the market. Further, the high adoption of robots for personal use, such as companionship and entertainment, is propelling the growth of the AI robots market.
Service robots are expected to hold the major share of the AI robots market in 2018; the market for these robots is expected to grow at a high rate during the forecast period. Service robots are used for various applications worldwide. The increasing adoption of these robots for personal use, such as companionship and entertainment, is driving the growth of the market for service robots.
Among all technologies, machine learning is expected to hold the largest share of the AI robots market during the forecast period. Machine learning enables robots to analyze and learn from different working environment, thereby making the robots safer and efficient. This technology aids in creating accurate models that can guide future actions and rapidly identify patterns at a scale that was not achievable before. The market for computer vision is expected to grow at a high rate between 2018 and 2023.
Software is expected to hold a major share of the AI robots market during the forecast period. The software integrated into an AI system is responsible for carrying out complex operations and provide learning capabilities, resulting in the larger size of the software market. The market for hardware is expected to grow at a high rate during the forecast period.
Among all applications, military & defense applications are expected to hold the largest share of the AI robots market in 2018. Increasing budgetary constraints, along with the decline in the recruitment of defense force personnel and equipment by countries in the Americas and Europe, necessitate the development of innovative and cost-effective robots to accomplish military missions. The market for stock management applications is expected to grow at the highest rate during the forecast period.
Among all regions, APAC is expected to hold the largest share of the AI robots market in 2018; the market in this region is expected to grow at the highest rate during the forecast period. Countries such as China, Japan, and Republic of Korea contribute to the growth of the AI robots market in APAC. Also, the increasing adoption of deep learning and NLP technologies for retail and security applications is driving the growth of the market in this region.
NVIDIA is among the world leaders in the visual computing business. The company has a well-established geographic footprint and mainly deals with major OEMs/ ODMs worldwide. In addition, it has gained the first mover advantage with the launch of DGX-1, a complete integrated system for deep learning technology. The system includes deep learning software and hardware, which can be used to develop new deep learning technologies/products. The company invests significantly in R&D (21.10%, 26.6%, and 28.90% of its total revenue in 2017, 2016, and 2015, respectively).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Attractive Market Opportunities in the Artificial Intelligence (AI) Robots Market 4.2 AI Robots Market, By Robot Type and Offering 4.3 AI Robots Market, By Technology 4.4 AI Robots Market in APAC, By Application and Country 4.5 AI Robots Market, By Country
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 18.104.22.168 High Adoption of Robots for Personal Use Such as Companionship and Entertainment 22.214.171.124 Support From Governments Worldwide to Develop Modern Technologies 5.2.2 Restraints 126.96.36.199 Reluctance to Adopt New Technologies 188.8.131.52 Absence of Standardized Regulations to Prevent Risks Associated With Networked and Autonomous Robots 5.2.3 Opportunities 184.108.40.206 Focus on Developing Robots With Special Application Cases That Work and Add Value 220.127.116.11 Increasing Aging Population Worldwide Boosting the Demand for AI-Based Robots for Elderly Assistance 5.2.4 Challenges 18.104.22.168 Developing AI to Help Robots Make Better Decisions and Make Them Safe for Humans 22.214.171.124 Long Time to Commercialize Robots 5.3 Value Chain Analysis
6 Artificial Intelligence (AI) Robots Market, By Offering 6.1 Introduction 6.2 Software 6.2.1 AI Solutions 6.2.2 AI Platforms 6.3 Hardware 6.3.1 Processors 6.3.2 Storage Devices 6.3.3 Network Devices
7 Artificial Intelligence (AI) Robots Market, By Robot Type 7.1 Introduction 7.2 Service Robots 7.2.1 Ground 7.2.2 Aerial 7.2.3 Underwater 7.3 Industrial Robots 7.3.1 Traditional Industrial Robots 126.96.36.199 Articulated Robots 188.8.131.52 Scara Robots 184.108.40.206 Parallel Robots 220.127.116.11 Cartesian Robots 18.104.22.168 Other Robots 7.3.2 Collaborative Industrial Robots
9 Artificial Intelligence (AI) Robots Market, By Application 9.1 Introduction 9.2 Military & Defense 9.2.1 Spying 9.2.2 Search and Rescue Operations 9.2.3 Border Security 9.2.4 Combat Operations 9.3 Law Enforcement 9.3.1 Road Patrolling 9.3.2 Riot Control 9.4 Personal Assistance and Caregiving 9.4.1 Elderly Assistance 9.4.2 Companionship 9.4.3 Security and Surveillance 9.5 Public Relations 9.5.1 Reception Care at Commercial Places 9.5.2 Tour Guidance 9.6 Education and Entertainment 9.6.1 Education 9.6.2 Entertainment 9.7 Research and Space Exploration 9.8 Industrial 9.9 Agriculture 9.10 Healthcare Assistance 9.11 Stock Management 9.12 Others
10 Geographic Analysis
11 Competitive Landscape 11.1 Introduction 11.2 AI Robots Market Ranking Analysis, 2017 11.3 Competitive Situations and Trends 11.3.1 Product Launches 11.3.2 Partnerships and Collaborations 11.3.3 Acquisitions 11.3.4 Contracts and Agreements 11.3.5 Expansions