Northbrook, IL 60062 -- (SBWIRE) -- 12/14/2022 -- AI Robots market is expected to grow from USD 6.9 billion in 2021 to USD 35.3 billion by 2026; it is expected to grow at a CAGR of 38.6 % during the forecast period.
The AI Robots market has been witnessing significant growth over the past years, owing to rise in demand for industrial robot and rise in adoption of AI robots in healthcare industry to control Covid-19.
SoftBank (Japan), NVDIA (US), Intel (US), Microsoft (US), IBM (US), Hanson Robotics (China), Alphabet (US), Xilinx (US), ABB (Switzerland), Fanuc (Japan), Alphabet (US), Harman International (US)are among the key players operating in the AI Robots market.
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AI Robots Market by North America
North-America is expected to winteness significant CAGR in the AI Robots market during the forecast period
For several years, service robots have been used for military and defense applications in the US. Also, drones are adopted for various commercial applications such as media and entertainment, precision agriculture, law enforcement, inspection, and surveys. The increasing demand for AI-integrated professional service robots, especially for medical and underwater applications, is driving the growth of the AI robots market in North America.
AI Robots Market by Stock Management
Stock Management is expected to lead AI Robots market during the forecast period
In 2020, the stock management application accounted for the largest size of the AI robots market and is expected to record a significant growth rate during the forecast period. Robots are being widely adopted for stock management applications, which comprise warehouse stock management, retail store stock management, and factory stock management. The major tasks performed by robots to manage stocks include sorting, sequencing, and delivery.
Market Dynamics:
Driver: Rise in demand for industrial robots
Implementing automation technology and installing industrial robots throughout the production processes has helped industrial businesses enable human employees to dedicate more time to other demanding projects. This has improved quality, reduced risks for associates with dangerous tasks, and lowered the overall operational costs. As labor costs rise, automation technologies come as alternate options. Robots help complete monotonous tasks more quickly and consistently than humans.
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Opportunity: Focus on developing robots with special application cases that work and add value
AI-integrated robots are gaining traction with the increasing requirement of social robots to interact with humans and for assistance, among others. Assistant robots need to perform various tasks involving home security, patient care, companionship, and elderly assistance. Companies are now increasingly focusing on developing robots that are suitable for the entire family and excel in performing the abovementioned tasks.