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| A09813 | Pages: NA | Dec 2021 | 756 Views | | |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Ai Powered Robot Market
Request Now !The global AI powered robot market size is experiencing a significant growth, and is expected to grow considerably in next few years. Robots are designed to improve efficiency of processes by performing repetitive tasks with more accuracy, precision, and increased speed. Combining AI with robotics makes robots learn and perform tasks without any human intervention. AI in robotics provide flexibility in processes and allows robots to learn processes for various applications. Thus, integrating robotics and AI help in increasing productivity of processes and save people valuable time. These reasons are expected to increase the market growth as various end users such as agriculture, military & defense, space exploration, healthcare, and manufacturing have started adopting AI powered robots in various applications.
The global AI powered robots market is segmented into technologies, type, end user, and region. Based on technologies, the market is further segmented into machine learning, natural language processing, context awareness, and computer vision. In terms of type, the market is sub-divided into service robots, and industrial robots. Based on industry vertical, the market is bifurcated further into military & defense, law enforcement, agriculture, research & space exploration, stock management, healthcare assistance, manufacturing, and others. Geographically, the global market is divided across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Key players of the AI powered robot market analyzed in the research include Intel, Microsoft, NVIDIA, IBM, Xilinx, Softbank Robotics, Alphabet Corporation, Amazon Corporation, Hanson Robotics, Promobot, and others. They have adopted various strategies including new product launches, collaborations, partnerships, mergers & acquisitions, joint ventures, agreements, and others to gain a stronghold and international presence across the world.
The major driving factor for the AI powered robot market growth is the increase in overall labor costs across the world. Technology advanced organizations find involvement of AI powered robotics in their tasks and processes cheaper rather than manual labor. Moreover, it helps in boosting productivity and improving precision of processes. However, high initial investment makes AI powered robots unaffordable for small businesses and industries, which hinders the market growth. Nonetheless, high penetration of AI powered robots in e-commerce, private use in companies & entertainment, agriculture, and manufacturing drives the market further.
Brain-Builder was announced and launched by Neurala in 2019. It is used to streamline formation of custom vision AI solutions through an end to end SaaS platform. This has proved to be beneficial for various organizations as it is an all in one tool for training, analysis, deployment, and data tagging and it has helped make custom vision AI creation more accessible and efficient.
As training and analysis can be done quickly and efficiently and this product has easy and quick user experience, this product has flourished the market.
E-commerce businesses have huge warehouses as they have to display variety of products in each segment category for consumers to choose from. Hence, large number of people are employed in picking and processing such orders and it requires a lot of hard work. As people get tired by this work and productivity is impacted, it has led to the deployment of AI powered robots. This helped e-commerce businesses to improve productivity and reduce overall labor costs as a smaller number of people are employed. This has led to surge in AI powered robots in e-commerce businesses.
COVID-19 scenario Analysis:
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2021–2027 |
Forecast units | Value (USD) |
Segments covered | Technologies, Type, End User, and Region |
Regions covered | North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa) |
Companies covered | Intel, Microsoft, NVIDIA, IBM, Xilinx, Softbank Robotics, Alphabet Corporation, Amazon Corporation, Hanson Robotics, Promobot, and others. |
Key benefits of the report:
Key segments covered:
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