AI Service Robotics - Egypt | Statista Market Forecast

The market size in the AI Service Robotics market is projected to reach US$21.48m in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 25.41%, resulting in a market volume of US$83.55m 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 Egypt is experiencing rapid growth, driven by factors such as the increasing adoption of AI technologies, growing health awareness, and the convenience of online health services. This elevated growth rate can be attributed to the country's growing focus on technological advancements and its efforts to integrate AI into various industries.

Customer preferences: In Egypt, there has been a growing demand for AI service robotics in the healthcare sector, as consumers look for innovative solutions to improve access to medical care and address the shortage of healthcare professionals. With a significant portion of the population living in rural areas, AI-powered telemedicine and remote patient monitoring systems are becoming increasingly popular. This trend is also driven by the increasing use of smartphones and internet connectivity, making it easier for individuals to access virtual healthcare services.

Trends in the market: In Egypt, the AI Service Robotics Market is experiencing a surge in demand for AI-powered service robots in various industries, such as healthcare, retail, and hospitality. This trend is driven by the growing need for automation and efficiency in these sectors. Additionally, the market is witnessing a rise in the adoption of AI-powered chatbots and virtual assistants, providing personalized and efficient customer service. This trend is expected to continue, with potential implications for industry stakeholders, including increased competition and the need for advanced AI capabilities to stay relevant in the market.

Local special circumstances: In Egypt, the AI Service Robotics Market is witnessing significant growth due to the country's increasing adoption of AI technology in various industries, such as healthcare, retail, and manufacturing. The government's initiatives to promote digital transformation and automation have also played a crucial role in driving the market. Additionally, the country's strategic location and favorable business environment have attracted major AI companies to invest in the market. However, the lack of skilled AI professionals and data privacy concerns are some of the challenges faced by the market.

Underlying macroeconomic factors: The AI Service Robotics Market of the AI Robotics Market within the Artificial Intelligence Market is impacted by macroeconomic factors such as technological advancements, government initiatives, and investment in research and development. Countries with supportive regulatory frameworks and significant investments in AI technologies are witnessing a faster growth rate compared to those with regulatory obstacles and limited funding. Moreover, the rising aging population and the increasing prevalence of chronic diseases globally have resulted in a growing demand for AI service robotics to enhance healthcare access and outcomes.

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 - Egypt

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