PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485851
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485851
Embodied Artificial Intelligence Robot Market size was valued at USD 14,876.23 Million in 2023, expanding at a CAGR of 16.8% from 2024 to 2032.
Embodied AI makes use of AI to build intelligent systems that behave in the same way that living things do. Embodied intelligence is being investigated more and more in robotics and artificial intelligence as a means of developing systems that resemble humans. The robots will be able to sense and physically interact with their surroundings by incorporating sensory data into them.
Embodied Artificial Intelligence Robot Market- Market Dynamics
Increasing demand for automation in all industrial sectors is expected to propel market demand
Robots with AI capabilities were created because of AI-related technology developments. These robots work together with people and pick up environmental knowledge. Based on the interpretation of data from a variety of sensors, the AI-enabled robots anticipate and adjust to certain scenarios. These robots assist humans in a variety of industries, such as healthcare, retail, automotive, and electronics, and work alongside them in factories. Thus, the high need for automation in these industries is expected to bolster the market growth over the forecast period.
Furthermore, the use of AI technology has given vacuum cleaners intelligence. A robotic vacuum cleaner with contemporary automation features is the Shark AI robot. The device may be set up to work in several cleaning modes, learning sessions can be scheduled, and virtual boundary lines can be created. Thus, increasing adoption of AI robots in the retail, and electronic sectors is also anticipated to boost the market growth.
Embodied Artificial Intelligence Robot Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 16.8% over the forecast period (2024-2032)
Based on Function segmentation, the speech recognition segment was predicted to show maximum market share in the year 2023, owing to technological advancement in the audio category.
Based on Application segmentation, the retail segment was the leading application in 2023, mainly due to high demand from the retail sector for automation.
Based on End User segmentation, the industrial segment was the leading End User in 2023, mainly due to the high adoption of robots at industrial applications.
Based on region, North America was the leading revenue generator in 2023, owing to the high adoption of AI robots in the automotive, manufacturing, and electronics industries.
The Global Embodied Artificial Intelligence Robot Market is segmented based on Function, Application, End User, and Region.
The market is divided into four categories based on Function: speech recognition, NLP, gesture recognition, and others. The speech recognition segment dominates the market. The increasing adoption of advanced tech in the automotive & manufacturing sector is likely to contribute to market growth.
The market is divided into five categories based on Application: healthcare, education, retail, gaming, and others. The retail segment dominates the market and is likely to maintain its dominance during the forecast period. Growing demand for Artificial Intelligence Robots in the retail sector for automated systems is likely to spur the market demand.
The market is divided into five categories based on End User: electronics, automotive, medical, industrial, and others. The industrial segment dominates the market and is likely to maintain its dominance during the forecast period. Increasing demand for AI robots in the automotive sector for assembly lines is anticipated to proliferate the segment growth.
Embodied Artificial Intelligence Robot Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Asia Pacific region is expected to offer new growth opportunities for the global embodied artificial intelligence robot market due to the presence of top semiconductor companies in countries like China, Japan, South Korea, Vietnam, etc. These regions are further divided as per the nations bringing business for the companies.
The embodied artificial intelligence robot market is formed by small and large market participants. To remain competitive in the embodied artificial intelligence robot market, industry players are concentrating on creating novel AI products with advanced technology. Furthermore, companies in the AI market are developing and commercializing AI systems that can interact with the physical world to make advanced AI robots.
In December 2023, Optimus AI introduced an AI robot with updated features at Tesla's facility.
In 2023, Keppler Robotics launched its Keot Robot using different demonstrations to display its operational capabilities.