“Artificial intelligence (AI) in robots market expected to grow at a significant rate between 2018 and 2023”
The Ai in aviation 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% during the forecast period. The high adoption of robots for personal use, such as companionship and entertainment; and support from governments worldwide to develop modern technologies are the key factors responsible for the growth of the AI in robots market. However, reluctance to adopt new technologies and absence of standardized regulations to prevent risks associated with networked and autonomous robots are the key factors restraining the growth of the AI in robots market.
“Market for stock management applications to grow at a high rate between 2018 and 2023”
The AI in robots market for stock management applications is expected to grow at a high rate during the forecast period. High penetration rate of e-commerce giants, such as Amazon, Walmart, and Alibaba, worldwide is one of the main factors contributing to the high growth of the AI in robots market for stock management applications.
“Machine learning technology to hold the largest share of the market during the forecast period”
Machine learning methods are particularly applicable when it comes to powering new insights within the robotics industry because the data sets are large and diverse, and they change quickly. Also, machine learning is required for voice recognition, voice search, recommendation engines, sentiment analysis, image recognition, and motion detection applications in smart robots. This is a key factor driving the growth of the AI in robots market for machine learning.
“North America to hold the second- largest share of the AI in robots market in 2018”
North America is expected to hold the second-largest share of the AI in robots market in 2018. This is because, the US is a global leader in adopting AI technology for robots for use in multiple application areas. In addition, several prominent AI technology providers such as IBM, Alphabet, Microsoft, NVIDIA, Intel, Facebook, MetaMind, Tute Genomics, Amazon, Celect, Bay Sensors, Narrative Science, and Prism Skylabs are based in the US. However, the market in APAC is expected to grow at the highest rate between 2018 and 2023.
Breakdown of profile of primary participants:
- By Company Type: Tier 1 = 35%, Tier 2 = 45%, and Tier 3 = 20%
- By Designation: C-level Executives = 35%, Directors = 25%, and Others = 40%
- By Region: North America = 45%, Europe = 20%, APAC = 30%, and RoW = 5%
Major players in the AI in robots market are SoftBank (Japan), Hanson Robotics (China), NVIDIA (US), Intel (US), Microsoft (US), IBM (US), Alphabet (US), Harman International Industries (Samsung) (US), Xilinx (US), ABB (Switzerland), FANUC (Japan), KUKA (a subsidiary of Midea Group) (Germany), Amazon (US), Blue Frog Robotics (France), Promobot (Russia), Jibo (US), ASUS (Taiwan), Mayfield Robotics (US), BSH Hausger?te (Germany), and LG (South Korea).
The AI in robots market has been segmented on the basis of robot type, technology, offering, application, and geography. Depending on the type of robot, the market has been segmented into service robots and industrial robots. The AI in robots market has been segmented on the basis of offering into hardware (processors, network devices, and storage devices) and software. Based on application, the market has been segmented into military & defense, personal assistance and caregiving, public relations, and stock management. Based on technology, the AI in robots market has been segmented into machine learning, natural language processing (NLP), context awareness, and computer vision. The report also forecasts the size of the Ai in robots market in 4 main regions North America, Europe, APAC, and RoW.
The report would help leaders/new entrants in this market in the following ways:
- This report segments the AI in robots market comprehensively and provides the closest approximations of the overall market size and that of the subsegments across different applications and regions.
- The report helps stakeholders understand the pulse of the market and provides them the information on key market drivers, restraints, challenges, and opportunities.
- This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business.
- The competitive landscape section includes competitor ecosystem, and product launches, partnerships, and mergers & acquisitions carried out in the AI in robots market.