ARTIFICIAL INTELLIGENCE (AI) ROBOTS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Artificial Intelligence (AI) Robots Market Size and Trends

The Artificial Intelligence (AI) robots market is estimated to be valued at US$ 15.71 Bn in 2024 and is expected to reach US$ 111.65 Bn by 2031, growing at a compound annual growth rate (CAGR) of 32.3% from 2024 to 2031. The widespread industrial applications of AI robots in the automotive, manufacturing, healthcare, and other sectors are supporting the rapid market growth.

The Artificial Intelligence (AI) Robots Market trend shows a growing demand for collaborative and service robots that can operate safely alongside human beings. Advanced technologies like machine learning, computer vision, and adaptive learning are enabling the development of more sophisticated AI robots that can perform complex tasks autonomously. Integration of 5G connectivity allows for cloud-based AI and over-the-air software upgrades. Increased focus on automation is expected to further propel the adoption of AI robots across various verticals.

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Increasing Demand for Automation

Manual and repetitive jobs that require high accuracy are now being taken over by AI robots. This is helping companies improve productivity and efficiency while reducing costs at the same time. Machines can work tirelessly for hours without tiring or needing breaks, allowing 24/7 operations in factories and warehouses. Furthermore, AI capabilities are making robots more intelligent where they can seamlessly collaborate and co-exist with human workers.

The manufacturing industry has widely adopted robots for tasks like welding, painting, assembling, and product inspection. AI robots integrated with computer vision can detect defects with far greater accuracy than humans. This ensures improved quality of products as well as increased safety levels on the production floor. Supply chains and logistics is another major area benefiting from automated robots for material handling, packaging, palletization, and shipment sorting. E-commerce companies in particular rely heavily on robots to efficiently process a massive volume of orders throughout the year without seasonal disruptions. The food and beverage industry too is deploying smart robots for picking and packing orders, mixing ingredients as well as inspecting items coming off the production line.

In the services domain, AI robots are automating clerical work such as data entry, document processing, and bookkeeping. This allows human employees to focus on more strategic tasks involving analysis, decision making, and problem solving. Industries like construction, agriculture, healthcare, and facilities management are also automating menial yet important functions using robots. For example, robots are used for tasks like mowing lawns, cleaning buildings, and handling patients are now being handled by robots, reducing manual labor. With rapid technological advancements, even more complex functions across multiple sectors will be computerized in the coming years, driving exponential growth of the artificial intelligence (AI) robots market.

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Another key factor spurring the adoption of AI robots is the steadily rising costs of human labor coupled with widespread shortages of workforce. With economic growth and improved standards of living, wages the world over have been increasing consistently in recent times. This is making labor intensive operations very expensive for companies. At the same, diminishing working population due to lower birth rates represents a significant challenge. Particularly in developed nations with aging demographics, recruiting and retaining employees is proving difficult.