WESTFORD, USA, May 16, 2024 (Globe Newswire) — SkyQuest delivers projects globally Artificial intelligence (AI) robot market It will reach a value of USD 69.24 billion by 2031, at a CAGR of 21.5% during the forecast period (2024-2031). The main factors driving the market expansion are the increasing use of AI robots in personal applications and increasing government support for new technology development. Reducing human errors in industrial processes, increasing use of industrial robots in the market and increasing digitalization across a wide range of sectors, including banking, financial services and insurance (BFSI), are strengthening the IT sector. The market is expanding due to various factors, including the growing need for intelligent virtual assistants and increasing implementation of 5G infrastructure.
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See detailed table of contents at . Artificial intelligence (AI) robot market ”
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Page – 197
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Table – 152
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Figure – 85
Artificial intelligence (AI) robot market overview:
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Report scope |
detail |
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Market revenue in 2023 |
$14.58 billion |
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Estimates until 2031 |
$69.24 billion |
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growth rate |
Expected to grow at a CAGR of 21.5% |
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Forecast period |
2024-2031 |
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prediction unit |
Value (US$ billion) |
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Report scope |
Revenue forecast, competitive environment, growth factors, trends |
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Target segment |
Technology, Applications, Components, Deployment, Types of Robots |
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Target area |
North America, Europe, Asia Pacific, Rest of the World |
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Report highlights |
Continuing research and development that will lead to new application ranges for AI robots |
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Key market opportunities |
Focus on developing robots with specialized application cases that function and add value |
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Key market drivers |
Advanced adoption of automation |
Hardware is driven by surging demand for robust computing power
The superior parallel processing capabilities of GPUs are the driving force behind the global market dominance of AI robots. The increasing complexity of AI algorithms requires significant processing power for effective implementation, providing another evidence of their superiority. There is a direct correlation between the dominance of specialized hardware in the market and the complexity of algorithms. As AI applications become more complex, so does the need for high-performance hardware components.
Rapid increase in data availability puts machine learning in the lead
Machine learning technology's ability to adapt and enhance performance based on data input is driving AI robots' dominance in the global market. This advantage is further strengthened by the exponential increase in data availability, providing rich resources for training and improving machine learning models. There is a positive correlation between the amount and variety of available data and the ability of machine learning algorithms to extract insights and optimize robot behavior.
North America dominates due to mature ecosystem of technology companies and government agencies
North America accounts for a significant portion of the global artificial intelligence (AI) robots market. North America's high market share can be partially attributed to the presence of a significant robot business and the increasing adoption of robots in many industries. Asia-Pacific is the world's fastest growing market due to the adoption of robotic technology and the growing use of AI robots in the region's huge manufacturing sector.
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Insights into the Artificial Intelligence (AI) Robotics Market
driver:
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Advances in AI and robotics
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Growing demand for industrial robots
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Advanced adoption of automation
Restraint:
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Concerns about return on investment
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Regulatory risks associated with networks and autonomous robots
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Impact on current employees
Prominent Players in the Global Artificial Intelligence (AI) Robotics Market
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Answers to key questions Global artificial intelligence (AI) robot market report
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What are the factors expected to drive the growth of the global artificial intelligence (AI) robots market by 2031?
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How does the report explain the dominance of hardware components such as GPUs in the AI Robotics market stemming from the surge in demand for powerful computing power?
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What role will the exponential growth in data availability play in driving the development of machine learning technologies in the AI robots market?
This report provides the following insights:
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Analysis of key drivers (increasing popularity of Industry 4.0 trends, increasing efficiency through automation, strong research and development in robotics, driving operational efficiency), constraints (procuring and deploying AI robots is expensive; (additional costs of maintenance and repairs, devastating impact on the entire workforce), opportunities influencing growth (increasing requirements for interacting social robots, use of robots in various assistance tasks, robot development by leading companies) Increasing focus on artificial intelligence (AI) and challenges (developing safe decision-making for humans and perfect AI systems for robots) in the robot market.
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Market Penetration: Comprehensive information on product portfolios offered by top players in the Artificial Intelligence (AI) Robotics market
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Product Development/Innovation: Detailed insights into upcoming trends, R&D activities, and product launches in the Artificial Intelligence (AI) Robotics market
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Market Development: Comprehensive information on profitable emerging regions
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Market Diversification: Thorough information on new products, growth regions, and recent trends in the market
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Competitive assessment: Detailed assessment of market segments, growth strategies, revenue analysis, and products of key market players.
Related reports:
Global artificial intelligence market
Global Artificial Intelligence of Things (AIoT) Market
Global Edge Artificial Intelligence (AI) Market
Global Artificial Intelligence (AI) Hardware Market
Global Artificial Intelligence (AI) in Banking, Financial Services and Insurance (BFSI) Market
About us:
SkyQuest is an IP-focused research investment bank and technology and asset accelerator. We provide access to technology, markets and finance from a variety of sectors: Life sciences, clean tech, agritech, nanotech, information and communication technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, businesses, and investors alike in leveraging external sources of research and development. Additionally, we help them optimize the economic potential of their intellectual assets. Our experience in innovation management and commercialization has expanded our reach across North America, Europe, ASEAN, and Asia Pacific.
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