AI Industrial Robotics - Canada | Statista Market Forecast

The market size in the AI Industrial Robotics market is projected to reach US$211.80m in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 23.94%, resulting in a market volume of US$767.50m by 2030.
In global comparison, the largest market size will be United States (US$2.94bn in 2024).

Definition:
Artificial intelligence (AI) industrial robotics refers to the integration of artificial intelligence technologies and capabilities into industrial robots for enhanced automation and intelligent decision-making in manufacturing and industrial processes. These robots are equipped with AI algorithms, machine learning, computer vision, and other AI techniques to perform tasks such as assembly, material handling, quality control, and predictive maintenance with higher precision, efficiency, and adaptability. By leveraging AI, industrial robots can analyze data, learn from experience, and optimize their operations in terms of increased productivity, reduced costs, improved safety, and streamlined manufacturing workflows in various industries.

The market comprises two key performance indicators: market sizes and market sizes by industry. Market sizes are generated by the funding amount of Artificial Intelligence Industrial Robotics companies and market revenue data from the Statista robotics market. Key players of the market include companies such as Universal Robots, ABB, and Fanuc.

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Collaborative robots (cobots) that collaborate with human workers, such as Universal Robots' UR5 and UR10
Automated guided vehicles (AGVs) that move materials and products through a manufacturing plant, such as KION Group's Linde Robotics
Robot arms that perform repetitive tasks on an assembly line, such as ABB's YuMi and Fanuc's LR Mate.

Drones used for surveying or inspecting industrial sites, such as DJI's Matrice series and Parrot's ANAFI USA
Self-driving cars or trucks used for transportation of goods or people, such as Tesla's Semi and Waymo's autonomous vans
Virtual assistants or chatbots used for customer service and/or sales support, such as IBM Watson Assistant and Google Dialogflow.

The AI Industrial Robotics Market in Canada is experiencing significant growth, driven by the rising adoption of AI technologies, increasing awareness of the benefits of AI in the industrial sector, and the convenience of AI-powered robotic systems. This considerable growth rate is influenced by the growing demand for automation and efficiency in various industries, as well as the advancements in AI technology.

Customer preferences: In Canada, there is a growing demand for AI-powered industrial robotics solutions, driven by the increasing automation of manufacturing and production processes. This trend is further accelerated by the aging workforce and the need for increased efficiency and productivity. Additionally, the adoption of AI-powered robotics in the manufacturing sector is also influenced by the push for sustainable and eco-friendly practices, as these robots can help reduce waste and energy consumption.

Trends in the market: In Canada, the AI Industrial Robotics market is experiencing a surge in demand as manufacturing and industrial companies increasingly adopt automated processes to enhance efficiency and productivity. This trend is driven by the growing focus on cost reduction, labor shortage, and the need for precision and accuracy in manufacturing. Additionally, the integration of AI technology in industrial robots is allowing for advanced capabilities, such as machine learning and predictive maintenance, leading to improved performance and reduced downtime. These trends are significant for industry stakeholders as they offer opportunities for growth and competitive advantage. However, there are also potential implications, such as job displacement and the need for upskilling and reskilling of the workforce to adapt to the changing industry landscape.

Local special circumstances: In Canada, the AI Industrial Robotics Market is experiencing significant growth due to the country's strong manufacturing sector and increasing adoption of automation technologies. Additionally, the government's support for workplace safety regulations and investment in research and development is driving the market. The country's multicultural workforce and focus on sustainability also influence market dynamics, leading to the development of AI-powered robots for various industries such as healthcare, agriculture, and construction.

Underlying macroeconomic factors: The AI Industrial Robotics Market in Canada is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in industrial infrastructure. Countries with favorable regulatory environments and strong investment in AI robotics technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing demand for automation and efficiency in industrial processes, as well as the growing need for advanced manufacturing capabilities, are driving the adoption of AI industrial robotics in Canada.

Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. This data helps us estimate the market size for each country individually.

Forecasts:In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Artificial intelligence evokes images of supercomputer assistants, machines that can think creatively, and, to some, scenes from their favorite sci-fi movie. The reality, despite not being as futuristic, is not far off from this. AI refers to the ability of a computer or machine to mimic the competencies of the human mind, which often learns from previous experiences to understand and respond to language, decisions, and problems. The market for AI technologies is vast, amounting to around 200 billion U.S. dollars in 2023 and is expected to grow well beyond that to over 1.8 trillion U.S. dollars by 2030.

Artificial intelligence (AI), the technology that allows digital computers or computer-controlled robots to perform tasks more commonly associated with intelligent beings, has been leaping into the limelight following the release of a wide variety of Generative AI models in 2023. The United States, being the largest economy in the world, has a natural advantage. Although human-like androids such as those portrayed in the science fiction movie Blade Runner are still far from reality, applications of AI such as smartphone virtual assistants and industrial robots are already widespread in U.S. society. The industry’s powerful ability to improve efficiency and increase productivity has made it of strategic importance to U.S. industries and government, both of which push the U.S. lead in the AI race.

AI Industrial Robotics - Canada

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