AI Industrial Robotics - Nigeria | Statista Market Forecast

The market size in the AI Industrial Robotics market is projected to reach US$185.70m in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 24.80%, resulting in a market volume of US$701.50m 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.

For more information on the data displayed, use the info button right next to the boxes.

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.

In Nigeria, the AI Industrial Robotics Market within the Artificial Intelligence Market is witnessing substantial growth, driven by factors like increasing adoption of AI technology, rising awareness of its benefits, and the convenience of online services. This market is growing at a rapid pace, fueled by the demand for efficient and automated systems in various industries.

Customer preferences: Consumers in Nigeria are increasingly embracing AI industrial robotics solutions to improve efficiency and productivity in the manufacturing sector. This trend is driven by the country's growing demand for advanced technology and investments in automation. Additionally, the rise of e-commerce and the need for faster production and delivery has also contributed to the adoption of AI industrial robotics. Moreover, cultural attitudes towards technology and an emerging tech-savvy population are also factors influencing this shift towards automation in manufacturing processes.

Trends in the market: In Nigeria, the AI Industrial Robotics Market is experiencing a surge in demand due to the country's increasing focus on automation and modernization. This trend is expected to continue as more industries embrace AI-driven robotics to improve efficiency and reduce costs. Additionally, there is a growing use of AI-powered drones in various sectors, such as agriculture and oil and gas, to collect data and improve decision-making processes. These developments have significant implications for industry stakeholders, as they must adapt to the changing landscape and invest in AI technologies to stay competitive.

Local special circumstances: In Nigeria, the AI Industrial Robotics Market is gaining momentum due to the country's rapid industrialization and investment in automation technology. However, the market faces challenges such as inadequate infrastructure, unstable power supply, and limited skilled labor. These factors have led to the development of locally adapted AI robots and collaborative robots, which cater to the unique needs of the Nigerian market. Additionally, the government's focus on diversifying the economy and promoting local manufacturing is driving the adoption of AI industrial robotics in sectors such as agriculture, oil and gas, and manufacturing.

Underlying macroeconomic factors: The growth of the AI Industrial Robotics Market within the Artificial Intelligence Market is greatly influenced by macroeconomic factors such as technological advancements, government support, and investment in industrial infrastructure. Countries with favorable business environments and strong investment in AI and robotics are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing demand for automation and efficiency in industries, coupled with the rising need for skilled labor, is driving the adoption of AI industrial robotics solutions.

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 - Nigeria

Value

Market Size

Analyst Opinion

Global Comparison

Methodology

Technology

Access more Market Insights on Technology topics with our featured report

Key Market Indicators

Explore more high-quality data on related topic

Artificial intelligence (AI) worldwide - statistics & facts

Explore more high-quality data on related topic

Artificial intelligence (AI) in the U.S. - statistics & facts

Contact

Get in touch with us. We are happy to help.

AI Industrial Robotics - Nigeria

In-Scope

Out-Of-Scope

Artificial Intelligence

Related markets:

Artificial Intelligence: in-depth market analysis

Value

Market Size

Analyst Opinion

Global Comparison

Methodology

Technology

Access more Market Insights on Technology topics with our featured report

Key Market Indicators

Explore more high-quality data on related topic

Artificial intelligence (AI) worldwide - statistics & facts

Explore more high-quality data on related topic

Artificial intelligence (AI) in the U.S. - statistics & facts