PUBLISHER: The Business Research Company | PRODUCT CODE: 1619626
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619626
Generative artificial intelligence (AI) in robotics involves using advanced algorithms to develop innovative designs, control strategies, and adaptive behaviors for robots. This technology enables robots to perform complex tasks and interact with their environment in new and efficient ways. Generative AI allows robots to create new solutions or strategies for unfamiliar or complex tasks, enhancing their adaptability to dynamic environments.
The key components of generative AI in robotics include software and hardware. The software segment encompasses applications and platforms that enable robots to learn from data and generate outputs based on that learning. Technologies involved include machine learning, context awareness, computer vision, and natural language processing. Various industry sectors that benefit from this technology include manufacturing, pharmaceuticals, logistics and warehousing, retail, and others.
The generative artificial intelligence (AI) in robotics market research report is one of a series of new reports from The Business Research Company that provides generative artificial intelligence (AI) in robotics market statistics, including generative artificial intelligence (AI) in robotics industry global market size, regional shares, competitors with a generative artificial intelligence (AI) in robotics market share, detailed generative artificial intelligence (AI) in robotics market segments, market trends and opportunities, and any further data you may need to thrive in the generative artificial intelligence (AI) in robotics industry. This generative artificial intelligence (AI) in robotics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The generative artificial intelligence (AI) in robotics market size has grown exponentially in recent years. It will grow from $1.19 billion in 2023 to $1.65 billion in 2024 at a compound annual growth rate (CAGR) of 39.1%. The growth during the historic period can be attributed to the rise in robotics startups utilizing generative AI, increasing demand for advanced automation across various industries, a growing need for personalized robotic solutions, rising investments in AI research and development, and the expansion of consumer robotics and smart home devices.
The generative artificial intelligence (AI) in robotics market size is expected to see exponential growth in the next few years. It will grow to $6.2 billion in 2028 at a compound annual growth rate (CAGR) of 39.2%. The projected growth during the forecast period can be attributed to the increasing adoption of AI-driven robotics in the service industry, a rising demand for flexible manufacturing systems, the development of generative AI tools for robotic systems, growing use of generative AI in precision agriculture, and heightened demand for generative AI in disaster response. Key trends expected in this period include technological advancements, robotic process automation, ethical AI considerations, integration with augmented reality, and the Internet of Things.
The growing demand for automation in industries is expected to drive the expansion of the generative artificial intelligence (AI) in robotics market. This demand reflects the increasing need for systems, technologies, and tools that can perform tasks with minimal human intervention. Automation is being adopted in industries to address labor shortages, boost operational efficiency, enhance safety, reduce costs, and ensure consistent quality in production processes. Generative AI allows robots to learn and adapt to various tasks and environments, making them essential for automated processes and aligning with the need for intelligent automation solutions across different sectors. For example, in June 2023, the International Federation of Robotics, a Germany-based non-profit organization focused on the global robotics industry, reported that 72,000 industrial robots were installed in Europe in 2022, marking a 6% increase from 2021. Consequently, the rising demand for automation is fueling growth in the generative AI in robotics market.
Leading companies in the generative AI in robotics market are advancing AI technologies, such as vision-language-action models, to improve robots' ability to understand and interact with their surroundings by combining visual and textual information. A vision-language-action model is a multimodal AI framework that integrates visual data with textual commands, allowing robots to perform tasks based on both inputs. For instance, in July 2023, Google, a US-based company specializing in Internet-related services and products, unveiled the Robotics Transformer 2 (RT-2). RT-2 is a vision-language-action (VLA) model that leverages extensive web-scale data and robotics datasets to generate generalized instructions for robotic control. This model enables robots to handle complex tasks with enhanced reasoning, symbol understanding, and human recognition. RT-2 surpasses its predecessor, RT-1, with more than three times the success rate in emergent skill evaluations, showcasing its potential for diverse and intelligent robotic applications. RT-2 allows robots to generalize beyond their initial training data and adapt to new objects, scenarios, and commands by transferring knowledge from web-scale data and robotics training.
In October 2023, Rockwell Automation, a US-based company specializing in industrial automation and information, acquired Clearpath Robotics for an undisclosed sum. This acquisition is aimed at enhancing Rockwell Automation's industrial automation and robotics capabilities, accelerating its end-to-end autonomous production logistics solutions, and providing safer and more efficient manufacturing environments for customers. Clearpath Robotics, a Canadian company, develops autonomous mobile robots that enable AI capabilities for research and industrial applications.
Major companies operating in the generative ai in robotics market are Google LLC, Microsoft Corporation, Siemens AG, Intel Corporation, International Business Machines Corporation, ABB Ltd., NVIDIA Corporation, Intuitive Surgical Inc., KUKA AG, UiPath Inc., Zoox Inc., Nuro Inc., Boston Dynamics Inc., Locus Robotics Inc., UBTECH Robotics Corp., Velodyne Lidar Inc., Clearpath Robotics Inc., ANYbotics AG, Syntiant Corp., Misty Robotics Inc., Hanson Robotics Ltd., Thymio, PAL Robotics S.L
North America was the largest region in the generative artificial intelligence (AI) in robotics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the generative ai in robotics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the generative ai in robotics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The generative artificial intelligence (AI) in robotics market consists of revenues earned by entities providing services such as autonomous navigation, task automation, advanced simulation, and predictive maintenance. The market value includes the value of related goods sold by the service provider or included within the service offering. The generative artificial intelligence (AI) in robotics market also includes sales of autonomous mobile robots, collaborative robots, robotic arms, and agricultural robots. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Generative Artificial Intelligence (AI) In Robotics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on generative artificial intelligence (AI) in robotics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for generative artificial intelligence (AI) 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 generative artificial intelligence (AI) 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 historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.