Artificial Intelligence Robots Market Size, Share, Industry Trends and Forecast to 2030

1. Market Size & CAGR of Artificial Intelligence Robots Market in 2021

The global artificial intelligence robots market is anticipated to witness a robust CAGR of 23.4% from 2021 to 2028. The market size is projected to reach USD 22.8 billion by 2028. The increasing adoption of AI technologies across various industries, such as manufacturing, healthcare, and automotive, is driving the growth of the AI robots market.

2. COVID-19 Impact on the Artificial Intelligence Robots Market

The COVID-19 pandemic had a mixed impact on the artificial intelligence robots market. While the initial outbreak led to supply chain disruptions and production halts, the increased focus on automation and contactless operations during the pandemic boosted the adoption of AI-powered robots in various sectors. The market witnessed a surge in demand for robots in healthcare facilities, logistics, and e-commerce industries.

3. Artificial Intelligence Robots Dynamics

The artificial intelligence robots market is driven by factors such as the growing need for automation to improve operational efficiency, the rising demand for AI-powered robots in the healthcare sector for tasks like surgery and patient care, and the increasing adoption of robots in manufacturing for tasks such as assembly and quality control. However, challenges related to high initial costs and concerns about job displacements are constraints affecting market growth.

4. Segments and Related Analysis

The artificial intelligence robots market can be segmented based on type, application, and end-user industry. The types of AI robots include service robots, industrial robots, and collaborative robots. Applications of AI robots span across healthcare, manufacturing, logistics, and agriculture. The end-user industries for AI robots include automotive, electronics, and retail.

5. By Region Analysis

The global artificial intelligence robots market is segmented into regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America currently leads the market due to the presence of major AI technology providers and advanced robotics research institutions. However, the Asia Pacific region is expected to witness the highest growth rate, driven by increasing industrial automation and government initiatives supporting AI adoption.

6. Key Market Players and Competitive Landscape

Key players in the artificial intelligence robots market include SoftBank Robotics, Boston Dynamics, NVIDIA Corporation, ABB Ltd., and Yaskawa Electric Corporation. These companies are focusing on product innovation, partnerships, and acquisitions to strengthen their market position. The competitive landscape of the AI robots market is characterized by intense rivalry and technological advancements.

7. Recent Happenings in the Artificial Intelligence Robots Market

- In June 2021, SoftBank Robotics introduced a new humanoid robot with enhanced AI capabilities for customer service applications. - In August 2021, Boston Dynamics launched a new version of its Spot robot with improved autonomy and mobility features. - NVIDIA Corporation announced a partnership with several healthcare providers in October 2021 to develop AI-powered robots for medical imaging and diagnosis. - ABB Ltd. collaborated with Amazon Web Services in November 2021 to integrate AI technologies into industrial robots for smart manufacturing applications. - Yaskawa Electric Corporation unveiled a new lineup of collaborative robots in December 2021 for small and medium-sized enterprises.