Global AI (Artificial Intelligence) Robotics Market
Industrial robotics is a decade-old market which is likely to revolutionize with the emergence of artificial intelligence and Internet of Things (IoT). An AI integrated autonomous machine is able to operate with a higher degree of autonomy, which makes the robot or machine particularly desirable in dangerous or inhuman environments for performing specific tasks. Huge capital investments are pouring on R&D activities on the development and analysis of algorithms to make the robot behavior more intelligent. AI based robotics have been continue to be applied to a broad range of problems that arise in manufacturing, e-commerce, healthcare and logistics, to name a few. AI robotics shows promise in complementing, supplementing and emulating human intelligence, which calls for further research efforts to make them more capable and reliable to use.
Goldstein Research analyst forecast the global AI Robotics market to expand at a CAGR of 53.6% during the forecast period 2016-2024. Further, the market is anticipated to reach USD 18.6 billion by the end of forecast period.
Covered in this global market report
The report covers the present ground scenario and the future growth prospects of the AI Robotics market for 2016-2024 along with the total revenue of AI Robotics in every region. We calculated the market size and revenue share on the basis of revenue generated per segment, region and country level. The revenue forecast is given on the basis of number of major players and current growth rate of the market.
Global AI Robotics - Market Segmentation
- Natural Language Processing
- Machine/Deep Learning
- Virtual Personal Assistant
- Querying Method
- Context Aware Processing
- ·Support and Maintenance
By End Users
- Manufacturing Sector
- Healthcare Sector
- Oil and Gas Sector
- Transportation and Automotive
- Retail Industry
- Others (Education)
- North America (US, Canada) AI Robotics Market
- Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) AI Robotics Market
- Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) AI Robotics Market
- Latin America (Brazil, Mexico and Rest of Latin America) AI Robotics Market
- Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) AI Robotics Market
On the basis of technology type, machine learning technology dominated the global AI robotics market with more than 45% share in 2016 as this technology enable the robots to learn about their environments which results in increased efficiency and reliability. Further, the machine learning segment is likely to dominate the market over the forecast period.
Global AI Robotics Market Outlook 2016-2024, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the global AI robotics market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global AI robotics market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.
Our global AI robotics market report comprises of the following companies as the key players in the global AI Robotics market: Google Inc., IBM Corp., Microsoft Corporation, General Vision Inc., Intel Corporation, Numenta, Inc., Baidu, Inc., Inbenta Technologies, Inc., Xilinx, Cisco and NVIDIA Corporation.
According to our global AI robotics market study on the basis of extensive primary and secondary research, one major trend in the market is the growing investments and acquisitions activity by big market players to develop new AI based robots in order to withstand the future market. For instance, Fanuc, a leader in industrial robotics has recently developed industrial robots with greater connectivity and AI usage within the equipment. Fanuc, also acquired 6% stake in AI startup preferred network to integrate deep learning to its robot and in 2016, announced a collaboration with Cisco and Rockwell Automation to develop and deploy FIELD (FANUC Intelligent Edge Link and Drive). Investment and M&A activities in AI technology across the industry will fuel the growth of AI robotics market.
According to the report, major driver in global AI robotics market is increased productivity and efficiency by AI robotics in various industries as compared to traditional automation. Workers can represent low value-added tasks to AI and be more productive in their main tasks. AI robotics can also help businesses maximize their asset utilization rates.
Further, the report states that one challenge in global AI robotics market is the perception that AI technology is chewing the jobs and aiding unemployment. Huge jumps in AI have augmented this process dramatically in manufacturing sector and is likely to replace around 20% of human labor in manufacturing industry in next decade as these AI based robots and software are enhancing the manufacturing processes to the streamlining of the sales process.
Geographically, North America region accounted for the largest market share with 38% revenue share in global AI robotics market. Asia Pacific region is the fastest growing region in AI Robotics market and is likely to expand at a CAGR of 56.2% over the forecast period i.e. 2016-2024.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Key questions answered in this global AI Robotics market report
- What is the total market size by 2024 and what would be the expected growth rate of market?
- What is the total revenue per segment and region in 2015-16 and what would be the expected revenue per segment and region over the forecast period?
- What are the key market trends?
- What are the factors which are driving this market?
- What are the major barriers to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities for the existing and entry level players?
- What are the recent developments and business strategy of the key players?
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