AI Service Robotics - Australia | Statista Market Forecast

The market size in the AI Service Robotics market is projected to reach US$160.20m in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 25.89%, resulting in a market volume of US$637.70m by 2030.
In global comparison, the largest market size will be United States (US$2.70bn in 2024).

Definition :
Artificial intelligence service robotics is a branch of robotics that focuses on developing robots with artificial intelligence (AI) capabilities to serve and assist humans. These robots are designed to interact and communicate with users, understand their needs, and perform tasks or provide information autonomously. By combining AI algorithms, natural language processing, computer vision, and other AI techniques, AI service robots can carry out tasks in the areas of customer support, personal assistance, healthcare monitoring, and home automation, which lead to improved convenience, efficiency, and quality of life for individuals.

Additional Information:

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 Service Robotics companies and market revenue data from the Statista robotics market. Key players of the market include companies such as SoftBank Robotics, iRobot, and Boston Dynamics.

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Social robots designed for providing companionship and support to individuals, such as PARO, a therapeutic robot designed to comfort patients with dementia, and Buddy, a social robot designed to assist with tasks and provide entertainment
Cleaning robots designed for use in households and commercial settings, such as iRobot's Roomba and Ecovacs' Deebot
Delivery robots designed for autonomous transportation of goods and packages, such as Starship Technologies' delivery robots and Nuro's autonomous delivery vehicles.

Military robots used for reconnaissance or combat, such as drones used for airstrikes and ground robots used for explosive ordnance disposal
Industrial robots used for manufacturing and logistics operations, such as robotic arms used in assembly lines and automated guided vehicles (AGVs) used in warehouses
Medical robots used for surgical procedures or medical diagnosis, such as da Vinci surgical robots and MRI-guided robotic systems.

The AI Service Robotics Market in Australia is experiencing intense growth, fueled by factors such as the increasing use of artificial intelligence in robotics, growing demand for automation, and advancements in AI technology. This growth is driven by the convenience and efficiency offered by AI-powered robots in various industries, including healthcare, manufacturing, and logistics. With the increasing adoption of AI in service robotics, the market is expected to continue its rapid growth trajectory in the coming years.

Customer preferences: The AI service robotics market in Australia is experiencing a significant growth, driven by the rising demand for automation and efficiency in various industries. With the increasing adoption of smart home devices and virtual assistants, consumers are becoming more comfortable with AI-enabled technology. Additionally, there is a growing interest in AI-powered customer service solutions, as businesses strive to enhance their customer experience and reduce operational costs. This trend is influenced by the country's tech-savvy population and its preference for seamless and personalized interactions with brands.

Trends in the market: In Australia, the AI Service Robotics Market is experiencing a significant increase in demand for autonomous cleaning and delivery robots, particularly in the hospitality and retail sectors. Additionally, there is a rising trend of using AI-powered chatbots in customer service and support roles in various industries. This trajectory towards automation and AI integration in service robotics not only improves efficiency and cost-effectiveness but also has implications for workforce displacement and the need for reskilling. As such, industry stakeholders must carefully consider the potential impact and prepare for the future of AI service robotics in the Australian market.

Local special circumstances: In Australia, the AI Service Robotics Market is experiencing significant growth due to the country's highly developed infrastructure and technological advancements. Additionally, the government's support for research and development in AI and robotics has created a favorable environment for market growth. Furthermore, the cultural acceptance of new technologies and the high demand for automation in industries such as mining and agriculture are driving the adoption of AI service robots in the Australian market. However, the country's strict regulations for data privacy and security may pose a challenge for market players.

Underlying macroeconomic factors: The AI Service Robotics Market is strongly influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. Countries with advanced technological capabilities and favorable regulatory environments are experiencing higher market growth compared to regions with limited resources and regulatory challenges. Additionally, the increasing demand for automation in various industries and the growing need for efficient and cost-effective solutions are driving the demand for AI service robotics in the global market.

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 Service Robotics - Australia

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