The Global Artificial Intelligence (AI) Robots Market size is expected to reach $37. 9 billion by 2027, rising at a market growth of 32. 3% CAGR during the forecast period. Artificial intelligence (AI) refers to the development process of a smart machine, which can operate, react and respond to the users in a way similar to humans.
New York, Dec. 27, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Artificial Intelligence Robots Market By Offering, By Application, By Technology, By Robot Type, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06193294/?utm_source=GNW
AI technology and AI-enabled machines or robots help in boosting the efficiency and proficiency of everyday undertakings.
Factors like the surge in the number of supportive initiatives from the governments to develop advanced technologies and the increase in demand for robots in the manufacturing and automotive sectors are estimated to propel the growth of the artificial intelligence (AI) robots market in the coming years. In addition, the rising usage of AI robots for personal purposes is likely to further create the high demand for AI robots in the market.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has impacted almost every section of society. Some sectors of the business domain have witnessed a positive impact of the pandemic whereas some have witnessed a negative impact on their businesses. The artificial intelligence robots market has seen a positive as well as negative impact on the COVID-19 pandemic. The positive impact includes the high adoption of these robots across the healthcare sector to assist and treat covid-19 infected patients from a distance.
However, the complete or partial lockdown along with the shutdown of manufacturing units have negatively impacted the production and supply of these AI robots. Due to this, the growth of artificial intelligence robots was hampered during the pandemic period. Applications of these AI robots have increased due to the pandemic within various industrial verticals to avoid human intervention.
Marketing Growth Factors:
Increasing government initiatives
There are various governments which are taking numerous initiatives to augment the adoption of and innovations in artificial intelligence and robotics. These initiatives motivate companies to carry out new developments to better support the adoption of innovative technologies and robotics across different verticals. There is an increase in the popularity of AI robots in the healthcare sector as it helps in establishing a better connection between a healthcare professional and the patients.
Development of Industrial Automation
Various industries like manufacturing, automobile, healthcare, and construction are increasingly adopting industrial automation. As a result, the adoption of AI robots has been increased due to their highly stable and precise performance. The primary cause for such adoption is to get superior quality and safeguard workers from injuries that occur from machine faults. In the production and manufacturing aspect of the industry, AI robots are intentionally utilized to move materials and carry out various programmed tasks. Also, a significant number of robots are utilized for the application of material handling in various industries.
Marketing Restraining Factor:
The dearth of skilled professionals and insufficient employee training
AI robots are highly technical and advanced, which require special training and skilled professionals to operate these robots at various places. However, the lack of proper expertise among professionals regarding the working and operations of AI robots can restrict the adoption of these robots across various business domains. Along with that, the absence of proper regulations in this industry would restrict its demand around the world.
Based on Application, the market is segmented into Stock Management, Military & Defense, Industrial, Education & Entertainment, Law Enforcement, Security & Surveillance, Agriculture, Healthcare Assistance and Others. Among all, the stock management segment acquired the highest market share in 2020 and is anticipated to register a substantial CAGR over the forecast period.
Robot Type Outlook
Based on Robot Type, the market is segmented into Government, Energy, Defense, Agriculture & Forestry, Media & Entertainment, Civil Engineering & Archaeology, and Others. The service robots segment dominated the AI robots market and is estimated to display the highest growth rate in the market over the forecast period. It is owing to the growing interest of the companies towards the automation of everyday procedures
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America is projected to display a promising growth rate in the AI robots market over the forecast period. The demand for these AI robots is high across Canada, the US, and Mexico.
KBV Cardinal Matrix - Artificial Intelligence (AI) Robots Market Competition Analysis
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; SoftBank Group Corporation and Microsoft Corporation are the forerunners in the Artificial Intelligence Robots Market. Companies such as Intel Corporation, NVIDIA Corporation, ABB Ltd., and IBM Corporation are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SoftBank Group Corporation, NVIDIA Corporation, Intel Corporation, Microsoft Corporation, IBM Corporation, Hanson Robotics Limited, KUKA AG, Xilinx, Inc., ABB Group, and FANUC Corporation.
Recent Strategies Deployed in Artificial Intelligence (AI) Robots market
Partnerships, Collaborations and Agreements:
Sep-2021: SoftBank Robotics Europe joined hands with United Robotics Group, an ecosystem of experts and partners. Following this collaboration, United Robotics Group would open a new office in Paris, France to manage and develop new sales, services support, and operate in European countries for Pepper & NAO humanoid robots.
Sep-2021: NVIDIA came into a partnership with Open Robotics, an independent non-profit organization in Mountain View, California. This partnership aimed to enhance support for Nvidia’s hardware on Open Robotics’ Robot Operating System (ROS) 2, the latest version of the company’s open-source development portfolio for robots. In addition, this collaboration would also decrease development time for consisting computer vision and machine learning/artificial intelligence (AI) applications in robots.
May-2021: SoftBank Robotics and SB Logistics came into a partnership with Berkshire Grey, an American technology company. This partnership aimed to integrate efforts in developing AI-enabled automation, which can place, pick, and pack customer orders.
Apr-2021: KUKA entered into a contract with The Daimler automotive group, the world’s largest manufacturer of commercial vehicles. Under this contract, KUKA products & solutions would be utilized for the production of bodies-in-white and drive trains at numerous locations in the next few years.
Mar-2021: ABB formed a partnership with ETH Zurich, leading international universities for technology and the natural sciences. Through this partnership, ABB would bring its expertise in the field of robotics to the table.
Nov-2020: Fanuc America formed a partnership with Plus One Robotics, a machine vision specialist. This partnership aimed to integrate their technologies to fulfill the requirements of their mutual customers in e-commerce. This flexible fulfillment solution includes a Fanuc robot and Plus One’s artificial intelligence-powered PickOne perception system to recognize, singulate, and sort a broad variety of conveyable items without the requirement for conventional vision training.
Sep-2020: Intel teamed up with Samsung Medison, a manufacturer of diagnostic ultrasound systems. This collaboration aimed to enhance obstetric measurements, which would contribute to maternal and fetal safety and could save lives. By utilizing an Intel Core i3 processor, the Intel Distribution of OpenVINO toolkit and OpenCV library, Samsung Medison’s BiometryAssist automates and streamlines fetal measurements, when LaborAssist automatically forecasts the fetal angle of progression (AoP) at the time of labor for a better understanding of a patient’s birthing progress, without the requirement for invasive digital vaginal exams.
May-2020: Hanson Robotics entered into collaboration with CereProc, a Scottish company, based in Edinburgh. This collaboration aimed to enable Hanson Robotics to make live human-like expressive performances from its robots.
Feb-2020: ABB entered into a partnership with Covariant, a developer of artificial intelligence for robotics. This partnership aimed to bring together the companies with a shared vision for robotics embedded by AI, wherein intelligent robots work along with humans in dynamic surroundings, collectively learning and enhancing with each task completed.
Product Launches and Product Expansions:
Oct-2021: NVIDIA introduced its new initiatives to offer a portfolio of perception technologies for the Robotic Working System (ROS) developer community. These initiatives would decrease development time and enhance performance for developers who are looking forward to including cutting-edge computer vision and AI/ML functionality into their ROS-based robotics applications. Moreover, the company introduced its developer toolbox for supporting AI-powered robotics, Isaac, which would deepen assistance for the ROS.
Sep-2021: Intel Mexico released a robotic store assistant, powered by Intel NUC Mini PCs, an Intel RealSense camera, and the Intel Distribution of OpenVINO toolkit. Robot roams around the shopping aisles of El Palacio de Hierro1 in Mexico City, wherein the robotic partner helps in making the purchase process safe and easy.
Jun-2021: KUKA introduced the latest version of its smart simulation software, KUKA.Sim 4.0. By using this new version, details, and sequences of robot applications could be practically simulated even before start-up and then transferred 100 percent to the real controller.
Apr-2021: Xilinx unveiled Kria K26 to its Kria system-on-module (SOM) portfolio. This portfolio is the latest AI compute resource targeting factory automation, evidence, which chip and compute providers can consider manufacturing a sizeable market. Amazon recently launched a cloud service for vision AI in manufacturing.
Feb-2021: Xilinx introduced a set of tools and services for AI-based video analytics, collected within the Smart World banner. These new offerings include the Xilinx Video Machine-learning Streaming Server (VMSS) that allows use cases such as virtual fencing, traffic monitoring, facial recognition, crowd statistics, and object detection.
Feb-2021: ABB unveiled two models to its ‘cobot’ line-up. The latest cobot portfolio is the most varied range in the market, which would provide the potential to transform workplaces and help its customers get new levels of operational performance and growth.
Nov-2020: SoftBank introduced a new feature: telepresence to its humanoid robot Pepper. This feature is developed to streamline smooth communication among people. In addition, it also consists of the function of teleoperation that allows customers to operate the robot remotely.
Aug-2020: Fanuc Robotics released a new extremely compact robot. The latest M-10iD/16S robot is the most compact model of the M-10iD series, says Fanuc, which would add and integrate the best features of its two predecessors, M-10iA/10MS and M-10iA/12S.
Aug-2020: KUKA launched the new KR 4 AGILUS. This compact robot is developed for robot-based automation in electronics manufacturing and for managing tasks in various other industries.
Acquisitions and Mergers:
Jul-2021: ABB took over ASTI, an international robotics company. This acquisition aimed to make autonomous mobile robots (AMRs), which can move around the factory and warehouse floors at up to two meters per second and can substantially augment ABB’s armory that generally include static machines.
Jun-2021: Xilinx took over Silexica, a privately-held provider of C/C++ programming and analysis tools. This acquisition aimed to integrate Silexica’s SLX FPGA tool suite with the Xilinx Vitis unified software platform to significantly decrease the learning curve for software developers developing sophisticated applications on Xilinx technology.
Apr-2021: Microsoft took over Nuance, a company that provides speech recognition and conversational AI services. Together, the companies would provide advanced AI solutions to professionals to accelerate better decision-making and develop more meaningful connections.
Dec-2020: IBM acquired Instana, leading enterprise observability, and application performance monitoring platform. This acquisition aimed to assist companies to use AI to better operate complicated & modern applications, which range hybrid cloud landscape; developed on IBM’s leading AI-powered automation capabilities.
Nov-2020: Intel took over Cnvrg.io, an Israeli company. This acquisition aimed to develop and operate machine learning models that could be utilized to train and track various models and draw comparisons on them, make recommendations, and more.
Sep-2020: NVIDIA acquired Arm Limited from SBG and the SoftBank Vision Fund. This acquisition aimed to bring together NVIDIA’s top AI computing platform with Arm’s vast ecosystem to develop the premier computing company for the age of artificial intelligence, boosting innovation along with expanding into large, high-growth markets.
Jul-2020: IBM signed an agreement to acquire WDG Automation, a full-featured cloud-based RPA software as a service solution. This acquisition would improve IBM’s complete AI-infused automation capabilities, ranging from business processes to IT operations.
May-2020: Microsoft acquired Softomotive, one of the leading providers of Robotic Process Automation (RPA). Through this acquisition, Microsoft would use Softomotive’s Robotic Desktop Automation (RDA) tool, WinAutomation, and ProcessRobot, which offer a robust, powerful, and easy-to-use Windows-based platform for building software robots as well as an enterprise Robotic Process Automation platform that includes enterprise-grade security and controls respectively.
Scope of the Study
Market Segments covered in the Report:
• Software ?
• Stock Management
• Military & Defense
• Education & Entertainment
• Law Enforcement, Security & Surveillance
• Healthcare Assistance
• Machine Learning
• Computer Vision
• Natural Language Processing
• Context Awareness
By Robot Type
• Service Robots
• Industrial Robots
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• SoftBank Group Corporation
• NVIDIA Corporation
• Intel Corporation
• Microsoft Corporation
• IBM Corporation
• Hanson Robotics Limited
• KUKA AG
• Xilinx, Inc.
• ABB Group
• FANUC Corporation
• Exhaustive coverage
• Highest number of market tables and figures
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• Assured post sales research support with 10% customization free
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