Artificial Intelligence (AI) Robots Global Market Report 2024

The artificial intelligence (AI) robots market size has grown exponentially in recent years. It will grow from $11.88 billion in 2023 to $15.55 billion in 2024 at a compound annual growth rate (CAGR) of 30.9%. The growth observed during the historical period can be ascribed to several contributing factors, including advancements in machine learning, the upsurge in industrial automation, the integration of collaborative robots (cobots), supportive government initiatives, and an augmentation in computing power.

The artificial intelligence (AI) robots market size is expected to see exponential growth in the next few years. It will grow to $44.29 billion in 2028 at a compound annual growth rate (CAGR) of 29.9%. The anticipated growth in the forecast period can be attributed to various factors, including advancements in AI algorithms, the integration of AI in healthcare, expanding applications in the service sector, a heightened focus on human-robot interaction (HRI), and increased attention to environmental monitoring and disaster response. Prominent trends expected in the forecast period encompass human-robot collaboration, the implementation of edge AI and processing, integration of emotional intelligence, emphasis on customization and modularity, and the utilization of AI in healthcare robotics.

The anticipated surge in the demand for industrial robots is poised to drive the growth of the artificial intelligence (AI) robot market in the foreseeable future. Industrial robots, programmable devices utilized in manufacturing and industrial operations, are either supportive of or serve as replacements for human labor. AI integration enhances industrial robots' capabilities, enabling them to execute intricate tasks such as visual inspection, quality control, and adaptive manufacturing processes with heightened autonomy and adaptability. As evidenced by data from the International Federation of Robotics in May 2023, global sales of industrial robots escalated by 27% from 2020 to reach 517,385 units in 2021. Consequently, the increasing demand for industrial robots stands as a catalyst for the growth of the artificial intelligence (AI) robot market.

Prominent companies engaged in the artificial intelligence robot market are strategically concentrating on innovative technologies, such as the third-generation AI autonomy platform, to maintain their market standing. An AI autonomy platform refers to a system empowering machines to operate independently, guided by constraints, without direct human intervention, to achieve predefined objectives. For instance, in November 2022, Brain Corp., a US-based autonomous technology company, introduced BrainOS, the third-generation autonomy platform tailored for commercial robotic operating systems. Engineered to propel the next generation of autonomous commercial robots, BrainOS exhibits heightened localization and navigation performance, improved safety and reliability, and enhanced human-robot interaction capabilities. With advanced self-driving features, BrainOS facilitates the safe and efficient navigation of robots in public and commercial spaces, and effective control of warehouse environments.

In March 2022, Bosch Rexroth, a Germany-based engineering firm, completed the acquisition of Kassow Robots for an undisclosed sum. This strategic acquisition positions Bosch Rexroth to offer comprehensive solutions, particularly in the consumer goods and mobility sectors, including battery production. Kassow Robots, a Denmark-based manufacturer specializing in lightweight collaborative robots (cobots) integrated with AI, aligns seamlessly with this strategic move.

Major companies operating in the artificial intelligence (AI) robots market report are Microsoft Corporation, Mitsubishi Motors Corporation, Intel Corporation, The International Business Machines Corporation, SoftBank Group Corp., Nvidia Corporation, Omron Corporation, FANUC CORPORATION, The Yaskawa Electric Corporation, iRobot, Xilinx, Inc., Geek+, Universal Robots, Ubtech Robotics, Brain Corp., Boston Dynamics, Starship Technologies, Vicarious FPC Inc., Diligent Robotics, Cobalt Robotics, Inc., Hanson Robotics Ltd., Blue Frog Robotics, Neurala Inc., Promobot, Miso Robotics.

North America was the largest region in the artificial intelligence (AI) robots market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the artificial intelligence (AI) robots market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The artificial intelligence (AI) robots market includes revenues earned by entities by providing products and services such as manufacturing and industrial automation, healthcare, service and assistance, autonomous vehicles, military and defense. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The artificial intelligence (AI) robots market also includes sales of manufacturing robots, quality control robots, logistics and supply chain robots, research and development robots, 3D printing and additive manufacturing robots, customization robots, packaging robots, and smart manufacturing systems. 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).

Artificial Intelligence (AI) robots are characterized as robotic systems or machines equipped with artificial intelligence capabilities. They exhibit the ability to execute repetitive tasks with precision and heightened speed, acquire knowledge of processes, autonomously perform functions without human intervention, and mitigate human error, consequently enhancing accuracy and efficiency.

The primary categories of artificial intelligence (AI) robots include service robots, industrial robots, and other specialized variants. Service robots are specifically designed to undertake beneficial tasks for humans or equipment without requiring direct human involvement. These robots incorporate a combination of software, hardware, and service components deployed through both cloud and on-premise modalities. Military and defense, retail and e-commerce, healthcare, food and beverage, and various other end-user industries leverage machine learning, computer vision, context awareness, and natural language processing technologies in the deployment of these service robots.

The AI robots market research report is one of a series of new reports that provides AI robots market statistics, including AI robots industry global market size, regional shares, competitors with an AI robots market share, detailed AI robots market segments, market trends and opportunities, and any further data you may need to thrive in the AI robots industry. This AI robots 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 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.


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