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The AI robots market is growing continually, mainly due to the proliferation of automation across industries. Advances in production and manufacturing processes have sped up the growth of the AI industrial robots market. Moreover, growing applications of AI robots in warehousing and logistic application escalate the market growth. Advances in robotics and farming technologies boost the market size.
According to Market Research Future (MRFR), the AI robotics market is expected to garner significant gains by 2027, growing at an impressive CAGR during the review period (2020 – 2027). The research report provides data on market shares, market tactics, growth factors, and the impact of the Post COVID-19 on both small and large business sectors.
Additional factors bolstering the growth of the market include the increasing need for unmanned vehicles in the military and space and the recent trend of using AI robots for delivery purposes. On the flipside, the lack of universal standards for the development of AI robots is a major factor impeding the market growth. Nevertheless, technology upgrades expected during the coming years would support the market growth throughout the review period.
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AI Robots Market - Segmentation
Software
Hardware
Global AI Robots Market by Type
Service Robots
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Industrial Robot Traditional Industrial Robots
Collaborative Industrial Robots
Global AI Robots Market by Technology
Global AI Robots Market by Application
Law Enforcement:
Military & Defense
Public Relations:
Personal Assistance and Care
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AI Robots Market - Regional Analysis
North America dominates the global AI robots market, heading with huge technological advancements in robotics. Additionally, the increasing demand for AI robots from the logistics industry and increasing focus on enhancing UAV communication capabilities, especially in the defense sector, drive the regional market's growth. Massive spending on growing military activities and UAV applications has opened up a big market for AI robots.
The AI robots market in Europe accounts for the second-largest market globally. Most European countries are initiating AI robot applications in commercial and industrial sectors, which have led to the expansion of the AI robots market in the region. Moreover, increasing R&D investments and burgeoning industries, such as healthcare, retail, and military sectors, are key tailwinds for market growth.
The Asia Pacific region has been emerging as a promising market for AI robots globally. India and China are increasingly investing in commercial and military UAV activities, leading to favorable growth prospects. Of these, India has the maximum potential to grow during the forecast period. Furthermore, the rapid economic growth increased R&D activities, and the demand for new AI technology from the burgeoning sectors such as automotive and aircraft propel the regional market.
AI Robots Market - Competitive Analysis
Highly competitive, the AI robots market appears to be fragmented due to the presence of several well-established players. These players incorporate strategic initiatives such as acquisition, collaboration, partnership, expansion, and product/ technology launch to maintain their positions and gain a competitive advantage in this market. These players focus on new product development initiatives and geographical expansion.
AI Robots Market key Players:
Players leading the global AI robots market include
The Wall