Market Executive Summary

Global AI robots market is valued approximately USD 6.9 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 38.6 % over the forecast period 2021-2027. Artificial intelligence robots are robots controlled by a computer to perform tasks which are usually done by humans. With technological advancement AI robots are now used in various restaurants, healthcare departments and others. Installing industrial robots in the production process has helped in performing monotonous task in more effective manner and it also helps in reducing the labor cost. So, implementation of artificial intelligence serves as a key driver for the market. Another factor driving the Artificial Intelligence Robot market is increasing demand for robots that can socialize and perform tasks such as companionship, home security guard, taking care of patient. Major companies are focusing on developing a robot who can master all these tasks and expand their market and also hold their respective position in the market by introducing innovative changes in the robots. Hanson Robotics and CereProc cooperated on Sophia, an advanced AI project, in May 2020. Sophia is the first robot to sing a duet with a human on Jimmy Fallon's Tonight Show, utilizing CereProc's singing TTS technology. Sophia now has an improved AI-based synthetic voice that can offer more dramatic and engaging performances in real time, as well as communicate comedy, tension, excitement, and the occasional cheeky comment, thanks to this joint AI initiative. NVIDIA will release the Jetson NanoTM 2GB Developer Kit in October 2020, which is intended for teaching and learning AI through hands-on projects in fields such as robotics and intelligent IoT. However, robots can be hacked which may lead to its misuse or data leaks. This is expected to be a challenge for the market. Also, increasing aging population worldwide boosting the demand for AI-based robots for elderly assistance is likely to increase the market growth during the forecast period.

The regional analysis of global AI robots market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share owing to the increasing demand for AI-integrated professional service robots for medical and underwater applications. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate over the forecast period 2021-2027. Factors such as growing adoption of deep learning and NLP technologies for retail and security applications would create lucrative growth prospects for the AI robots market across Asia-Pacific region.

Major market player included in this report are:
SoftBank (Japan),
Hanson Robotics (China),
NVIDIA (US),
Intel (US),
Microsoft (US),
IBM (US),
Alphabet (US),
Harman International Industries (Samsung) (US),
Xilinx (US),
ABB (Switzerland),
FANUC (Japan),
KUKA (a subsidiary of Midea Group) (Germany),
Amazon (US),
Blue Frog Robotics (France)

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Offering:
Software
Hardware

By Robot Type:
Service Robots
Industrial Robots
By Technology:
Machine Learning
Computer Vision
Context Awareness
Natural Language Processing

By Deployment mode:
Cloud
On-premises
By Application:
Military & Defence
Law Enforcement
Personal Assistance and Care giving
Security and Surveillance
Public Relations
Education and Entertainment
Research and Space exploration
Industrial
Agriculture
Healthcare Assistance
Stock Management
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year ? 2018, 2019
Base year ? 2020
Forecast period ? 2021 to 2027

Target Audience of the Global AI robots market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors