PUBLISHER: The Business Research Company | PRODUCT CODE: 1486820
PUBLISHER: The Business Research Company | PRODUCT CODE: 1486820
Artificial Intelligence (AI) in robotics refers to the integration of artificial intelligence technologies into robotic systems to enable them to perceive, reason, learn and act autonomously in dynamic and complex environments. AI in robotics involves the development of algorithms and software that allow robots to perform tasks traditionally requiring human intelligence, such as decision-making, problem-solving, perception and interaction with the environment.
The artificial intelligence in robotics market consists of revenues earned by entities (organizations, sole traders and partnerships) by development, deployment and commercialization of robotic systems integrated with AI technologies.
The global artificial intelligence in robotics was valued at from $4,276.7 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 26.0%.
Increased Demand For AI-Powered Robots In The Defense And Security Sector
Increased demand for AI-powered robots in the defense and security sectors drove the growth of artificial intelligence in robotics market during the historic period. AI-powered robots enhance military effectiveness by autonomously navigating, surveilling and detecting threats in combat and border zones. They mitigate risk by handling high-risk tasks like bomb disposal and search and rescue, minimizing human exposure to danger and casualties in hazardous environments. For instance, in India, according to the Indian Ministry of Defense (MoD), 40 artificial intelligence (AI) products were developed by the end of March 2022, 26 by March 2021 and 16 by March 2020, under the Defense Public Sector Undertaking (DPSU) project. The Ministry of Defense (MoD) instigated a sense of urgency in Indian administrative procedures under the current government, developing distinct AI roadmaps for every DPSU. Therefore, increased demand for AI-powered robots in the defense and security sectors drove the growth of artificial intelligence in robotics market.
Launch Of New And Advanced AI-Enabled Robots To Optimize Efficiency And Reliability
The launch of advanced AI-enabled robots tailored for the e-commerce and warehouse industries is a key trend in the market. These products aim to address the evolving needs of these sectors, by offering advanced solutions for automation, efficiency and productivity in handling tasks such as order fulfillment, inventory management and logistics. For instance, in March 2024, Liberty Robotics Inc., a US-based robotic technology company, launched its flagship suite of robotic palletizing and depalletizing solutions, VPick and VPack. These robots utilize artificial intelligence (AI) vision systems to optimize warehouse efficiency and reliability. VPick streamlines warehouse, distribution and fulfillment center operations with its precise 'pick on first sight' capabilities, achieving nearly perfect pick rates. On the other hand, VPack revolutionizes robotic packaging through ad hoc picking capabilities and digital twin technology, ensuring maximum packing efficiency by dynamically positioning boxes on pallets in real-time. Additionally, in October 2023, Amazon.com, a US-based technology company engaged in e-commerce and cloud computing, among others, introduced an array of new artificial intelligence and robotics capabilities into its warehouse operations to reduce delivery times and help identify inventory more quickly. The overhaul will transform Amazon's fulfillment center operations with AI-equipped sortation machines and robotic arms, impacting the tasks of many employees.
The global artificial intelligence in robotics market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 34.99% of the total market in 2022.
Artificial Intelligence In Robotics Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global artificial intelligence in robotics market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for artificial intelligence in robotics? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The artificial intelligence in robotics market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider artificial intelligence in robotics market; and compares it with other markets.