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AI Assisted Robots Market

Market Insights on AI Assisted Robots covering sales outlook, demand forecast & up-to-date key trends

AI Assisted Robots Market by End-use Industry & Region - Forecast 2022 - 2032

AI Assisted Robots Market Snapshot

The global AI assisted robots market size is anticipated to reach US$ 914.3 Million in 2032. Rising demand for industrial robots and surging adoption in the healthcare industry are projected to spur the sales of AI assisted robots in future years. As per FMI, the AI assisted robots market is expected to be valued at US$ 482.6 Million in 2022 and exhibit astonishing growth at a CAGR of 18.5% in the forecast period from 2022 to 2032.

Report Attribute

Details

AI Assisted Robots Market Estimated Base Year Value (2021)

US$ 357.1 Million

AI Assisted Robots Market Expected Market Value (2022)

US$ 482.6 Million

AI Assisted Robots Market Anticipated Forecast Value (2032)

US$ 914.3 Million

AI Assisted Robots Market Projected Growth Rate (2022-2032)

18.5% CAGR

The Artificial Intelligence (AI) assisted robot industry is divided into the industrial and interactive segments. All the manufacturing sectors come under the industrial segment, while household, commercial, and government sectors fall under the interactive segment.

The emergence of Industry 4.0 and rising usage of various innovative technologies in the field of surgeries are some of the other factors that are anticipated to push demand for AI assisted robots in future. Increasing number of various surgical procedures with the rising prevalence of chronic diseases is another crucial factor that is projected to boost the market.

AI assisted robots are expected to be extensively used in a large number of surgical systems as these provide multiple advantages. These are capable of consolidating the databases and analyzing intraoperative videos.

Further, increasing patient pool across the globe and the rising demand for minimally invasive surgical procedures are some of the other factors contributing to the growth. Rapid inclination of healthcare professionals towards healthcare professionals from conventional surgical procedures is also projected to augment growth.

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How is the Automotive Industry Augmenting the AI Assisted Robots Market Growth?

Easy availability of comprehensive service contracts and routine technological upgrades by key players worldwide is expected to boost the global AI assisted robots market growth in the assessment period. Growing popularity of robot-assisted surgeries and rising number of minimally invasive surgeries taking place across the globe are two other factors propelling the demand in the market.

Ongoing development of innovative technologies and upgradations in the existing surgical instruments are further set to aid growth. Rising prevalence of cancer and surging demand for minimally invasive laparoscopic procedures are also expected to accelerate growth in the market. Apart from that, rising usage of AI assisted robots in the automotive sector for performing repetitive tasks is set to aid growth.

Which Factors Are Expected to Hinder the AI Assisted Robots Market Growth?

Robots are nowadays becoming networked with the increasing adoption of novel technologies, such as cloud computing. Abilities of these networked robots can be adversely used and these can also be potentially hacked.

In addition, AI assisted robots lack moral reasoning even though they have become more autonomous and smarter. Developing a perfect AI system can be a major challenge in the market as morality is eternally debated and culturally specific. Spurred by the aforementioned factors, sales of AI assisted robots may get hampered in future.

Nikhil Kaitwade
Principal Consultant
LinkedIn
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Why is the Need for Social Robots Pushing the Europe AI Assisted Robots Market?

In terms of region, Europe is anticipated to generate the highest AI assisted robots market share in the evaluation period. This growth is attributable to the increasing need for AI assisted robots in manufacturing plants across the U.K., Germany, and Italy. High cost of manpower in developed countries of Europe is another major factor that is anticipated to propel the market.

In addition to that, surging need for social robots for interaction with humans and for chat-based assistance in Europe is also set to contribute to the market growth. High demand for assistance robots for performing multiple tasks, such as elderly assistance, companionship, patient care, and home security is another factor that would push sales in Europe.

How is the Retail Sector Driving the North America AI Assisted Robots Market?

Rapid expansion of the retail sector in Canada and the U.S. is anticipated to foster the requirement of AI assisted robots across North America. Extensive utilization of robots for retail store stock management is expected to drive sales of AI assisted robots in North America during the forthcoming years.

Rising adoption of service robots in military and defense applications across North America is likely to foster growth in the market. Besides, surging adoption of drones for numerous applications, such as surveys, inspections, media & entertainment, law enforcement, and precision agriculture is another factor contributing to the regional market.

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Market Competition

Some of the leading players present in the global AI assisted robots market include Promobot LLC, ABB, UBTech Robotics Limited, Anki, Argo AI, LLC, Robotics Hanson, Inc., Brain Corporation, Blue Frog Robotics, Vicarious Systems, CloudMinds, Nvidia Corporation, and Mayfield Robotics among others.

The global market is highly competitive with the presence of various large- and small-scale companies. The majority of these companies are adopting numerous organic and inorganic strategies to maintain their leading positions. Meanwhile, a few other key players are introducing cutting-edge products to attract more customers and generate high shares in the global market.

Report Scope

Report Attribute

Details

Growth Rate

CAGR of 18.5% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Million, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • End-use Industry
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • Promobot LLC
  • ABB
  • UBTech Robotics Limited
  • Anki
  • Argo AI, LLC
  • Robotics Hanson, Inc.
  • Brain Corporation
  • Blue Frog Robotics
  • Vicarious Systems
  • CloudMinds
  • Nvidia Corporation
  • Mayfield Robotics

Customization

Available Upon Request

Key Segments Profiled in the AI Assisted Robots Industry Survey

By End-use Industry:

  • Automotive
  • Electrical & Electronics
  • Food & Beverage
  • Manufacturing
  • Agriculture
  • Construction
  • Military
  • Healthcare
  • Consumer
  • Logistics & Transportation
  • Packaging

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Frequently Asked Questions

The global AI assisted robots market is set to surpass US$ 914.3 Million in 2032.

Europe is set to lead the AI assisted robots market in the forecast period.

Promobot LLC, ABB, UBTech Robotics Limited, Anki, Argo AI, LLC, Robotics Hanson, Inc., Brain Corporation, and Blue Frog Robotics are some of the renowned companies in the AI assisted robots market.

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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Find your sweet spots for generating winning opportunities in this market.

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