Product Code: 66979
The Artificial Intelligence in Robotics market is expected to register a CAGR of 28% during the forecast period (2020 - 2025). Artificial intelligence (AI) and robotics prove to be a powerful combination for automating tasks and processes. AI in robotics gives flexibility in processes and enables the robots with learning capabilities in various applications. Artificial intelligence in robots offers companies new opportunities to increase productivity, make work safer, and save people valuable time.
- Integration of robotics and AI augment and amplify human potentials, increase productivity, and are moving from simple reasoning towards human-like cognitive abilities. The next stage of AI is the era of augmented intelligence, seamlessly linking humans and machines together.
- Robots are designed to perform repetitive tasks with utmost precision and increased speed. AI in robotics helps the robots to learn the processes and perform the tasks with complete autonomy, without any human intervention. These benefits are expected to augment the market growth.
- Also, higher adoption rates of robots in almost all the end-user verticals, coupled with support from governments worldwide to develop modern technologies, are undoubtedly significant factors augmenting the market growth. However, a reluctance to adopt the technological developments is expected to slow down the market growth. Also, a lack in a skilled workforce to adopt the integration of AI in robotics is hindering the market growth.
Scope of the Report
Artificially intelligence in robotics refers to the seamless integration of robots with artificial intelligence (AI) technology. These robots learn to perform a few repetitive tasks that can be done without any human intervention and can even communicate with humans or in some cases with other robots.
Key Market Trends
Industrial Robots Expected to Grow Significantly
- Major technological disruptions, like artificial intelligence and machine learning, are making their way to the industrial robotics industry. Industrial robots are used majorly in the manufacturing industry, used to perform automated, repetitive, monotonous, and hazardous tasks, to enhance productivity and maximize accuracy.
- The integration of AI with industrial robots is expected to grow at a fast pace in the forecast period, owing to the initiatives taken by the manufacturing companies. For instance, in April 2019, Industrial robotics giant Fanuc announced a new AI-based tool at TechCrunch's Robotics + AI Sessions event. The company wants to make robots easier to train, therefore making automation more accessible to a wider range of industries. The new AI tool teaches robots how to pick the right objects out of a bin with simple annotations and sensor technology, reducing the training process by hours.
- The merging of AI and industrial robotics is providing several benefits to its early adopters. One of the greatest benefits is increased uptime and productivity from predictive maintenance. With AI integrated with industrial robotics technology, robots can monitor their own accuracy and performance, signaling when maintenance is required to avoid expensive downtime.
- Further, with the help of AI-based Industrial Robots, detection and solving a fault becomes easier. They are programmed to detect the faults and fed with solutions to overcome the damage.
- Also, industrial robots improve the speed, accuracy, and safety of production. Robots also enable organizations to transform into modern manufacturing techniques and build a robust manufacturing industry. AI technology can give robots the power to see and to identify and interact with what they see.
Asia-Pacific Expected to Grow Significantly
- The Asia-Pacific region is expected to exhibit the highest growth rate in terms of the adoption rate of artificial technology for robotics. The major factor driving the adoption rate is the increasing population in the region. Also, the region is deploying robotics in various end-user industries like manufacturing, retail, healthcare, etc. Hence, the integration of AI and robotics is taking place at a fast pace.
- Also, in terms of industrial robots, the Asia-Pacific region is expected to dominate the market in terms of the deployment of industrial robots in the manufacturing sector to enhance productivity. For instance, according to IFR World Robotics, Asia accounted for 69.1% of industrial robot shipments in 2018. Europe accounted for 17.2%, and the United States accounted for 13.7%.
- The rapid pace of adoption of technological developments in the region is expected to further drive the market in the region. For instance, according to a study by Microsoft in 2019, AI is expected to almost double the rate of innovation and employee productivity in the Asia-Pacific by 2021.
The competitive landscape of artificial intelligence in robotics is moving towards fragmentation as the market is growing and is providing ample opportunities to the robot vendors. The vendors are ready to make the first-mover advantage and grab the opportunities laid by the different technologies. Also, the vendors are viewing expansion in terms of product innovation and global expansion as a path towards gaining maximum market share.
- Mar 2019 - Neurala announced the launch of Brain Builder: an end-to-end SaaS platform to streamline the creation of custom vision AI solutions. By giving organizations an all-in-one tool for data tagging, training, deployment, and analysis, Brain Builder makes custom vision AI creation more efficient and accessible for AI beginners and experts alike.
Reasons to Purchase this report:
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Table of Contents
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Government Support to Develop Modern Technologies
- 4.2.2 Higher Adoption Rates of Robots in all End-user Verticals
- 4.3 Market Restraints
- 4.3.1 Reluctance to Adopt New Technologies
- 4.3.2 Lack of Skilled Workforce
- 4.4 Industry Value Chain Analysis
- 4.5 Industry Attractiveness - Porter's Five Force Analysis
- 4.5.1 Bargaining Power of Suppliers
- 4.5.2 Bargaining Power of Buyers/Consumers
- 4.5.3 Threat of New Entrants
- 4.5.4 Threat of Substitute Products
- 4.5.5 Intensity of Competitive Rivalry
- 4.6 Technology Snapshot
- 4.6.1 Natural Language Processing
- 4.6.2 Computer Vision
- 4.6.3 Navigation
- 4.6.4 Machine Learning
5 MARKET SEGMENTATION
- 5.1 By Robot Type
- 5.1.1 Industrial Robots
- 5.1.2 Service Robots
- 5.1.3 Collaborative Robots
- 5.2 By End-user Industry
- 5.2.1 Manufacturing
- 5.2.2 Automotive
- 5.2.3 Retail & E-commerce
- 5.2.4 Healthcare
- 5.2.5 Food & Beverage
- 5.2.6 Other End-user Industries
- 5.3 Geography
- 5.3.1 North America
- 5.3.2 Europe
- 5.3.3 Asia-Pacific
- 5.3.4 Rest of the World
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Hanson Robotics Ltd.
- 6.1.2 NVIDIA Corporation
- 6.1.3 IBM Corporation
- 6.1.4 Blue Frog Robotics
- 6.1.5 Viacrious AI
- 6.1.6 Neurala, Inc.
- 6.1.7 Veo Robotics, Inc.
- 6.1.8 AIBrain, Inc.
- 6.1.9 CloudMinds Technology, Inc.
- 6.1.10 UiPath
- 6.1.11 Kindred, Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS