Artificial Intelligence (AI) Robot Market is predicted to Rise at a CAGR of 20.5% during the Forecast Period, Observes TMR Study

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Jun 27, 2022, 07:30 ET

Industrial robotics technology is quickly adopting ML and AI technologies. In order to boost production, manufacturers are striving to better the rigid, immobile capabilities of ordinary industrial robots.
Due to the growing use of AI robots in the retail, industrial, automotive, and healthcare businesses, the global artificial intelligence (AI) robot market is anticipated to expand significantly

ALBANY, N.Y., June 27, 2022 /PRNewswire/ -- The value of global artificial intelligence (AI) robot market was clocked at US$ 8.18 Bn in 2021. The market is likely to register growth at a CAGR of 20.5% during the forecast period, from 2022 to 2031. The artificial intelligence robot market size is likely to attain a valuation of US$ 52.63 Bn by 2031. Automation brought about by robots boosts productivity levels in several production processes. Due to its ability to handle the complexities of massive data and provide high precision and quick processing solutions, artificial intelligence (AI) is being utilized to advance science and technology. Due to the higher demand for automation in the industrial, automotive and manufacturing businesses, businesses are evaluating how AI will help in the robotics application and the long-term revenue prospects in AI robots following COVID-19.

Latest models of intelligent mobile robots perform activities such as transporting, participating in product manufacture and assembly, loading and unloading of materials from trucks into facilities. It also tests and validates finished goods using closed-loop, real-time, controls. All of these activities boost manufacturing productivity and drastically save downtime. Attributed to the increasing use of AI robots in the healthcare, retail, automotive, and industrial businesses, the artificial intelligence companies is anticipated to observe high growth during the forecast period.

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Key Findings of Market Report

With the aid of computer vision, artificial robots assist in the management of huge inventory in warehouses. As a result, more industries are implementing computer vision robots, which is likely to increase artificial intelligence market share. As these robots enable higher skill diversity and involve less programming, businesses are looking for straightforwardly programmable robots with cutting-edge vision systems.
The combination of machine learning and artificial intelligence (AI) technologies, and industrial robots into a unified system for manufacturing has a number of advantages, including improved productivity, longer uptime, and shorter programming times. Robots can keep an eye on their efficiency and precision as well as suggest any necessary repair to prevent costly downtime. The global artificial intelligence (AI) robot market is being driven by this.
In order to create genuinely autonomous and efficient assistive robots, breakthroughs in computers, actuators, sensors, and batteries are required. After that, end-users would switch from buying basic robot systems to more comprehensive, modular systems. This would include machine vision software, core controllers, edge controllers, as well as AI for smart & autonomous operational processes, amongst many other recent developments.

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Global Artificial Intelligence (AI) Robot Market: Growth Drivers

Due to enhanced uptime and productivity brought on by predictive maintenance, the industrial robots category held a 60.15 % market share in 2021. Since AI and industrial robotics are interwoven, robots can track their own performance and accuracy and alert their operators when repair is necessary to save costly downtime. Robots with AI capabilities offer fully automated processes, negating any necessity for human involvement.
In 2021, the market for artificial intelligence (AI) robots was dominated by North America, accounting for 32.2% of the global market. The region's market is being driven by a rise in industrialization as well as expenditures on innovative manufacturing systems.

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Global Artificial Intelligence (AI) Robot Market: Key Players

Some of the key market players are

The Yaskawa Electric Corporation
Microsoft Corporation
Brain Corporation
Omron Corporation
Kawasaki Heavy Industries Ltd
Nvidia Corporation

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Global Artificial Intelligence (AI) Robot Market: Segmentation

Component

Hardware
Software
Services

Robot Type

Service
Industrial
Others

End Use

Automotive
Aerospace and Defense
Retail
Healthcare
Industrial
Others

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