AI Service Robotics - Estonia | Statista Market Forecast

The market size in the AI Service Robotics market is projected to reach US$3.29m in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 25.39%, resulting in a market volume of US$12.79m 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 Estonia is experiencing elevated growth, propelled by factors such as the surging adoption of AI technologies, increasing health consciousness among consumers, and the convenience of online health services.

Customer preferences: As AI service robotics continue to advance in Estonia, consumers are increasingly embracing the convenience and efficiency of AI-powered solutions in their daily lives. This trend is driven by the country's tech-savvy population and growing demand for more personalized and efficient services. Additionally, the COVID-19 pandemic has accelerated the adoption of AI service robotics, as consumers prioritize contactless interactions and remote assistance for a variety of tasks.

Trends in the market: In Estonia, the AI Service Robotics Market is seeing a rise in the use of automation and robotics in various industries, including healthcare, manufacturing, and logistics. This trend is driven by the country's strong focus on technological innovation and its push towards a digital economy. With the continuous development of advanced AI technologies, such as machine learning and natural language processing, the demand for service robots is expected to increase significantly in the coming years. This presents opportunities for industry stakeholders to tap into the growing market and offer innovative solutions to meet the evolving needs of businesses. Additionally, the use of AI service robots can lead to increased efficiency, cost savings, and improved customer experiences.

Local special circumstances: In Estonia, the AI Service Robotics market is seeing rapid growth due to the country's advanced technology infrastructure and government's support for innovation. Additionally, the country's small size and high-tech society create a favorable environment for AI applications. Furthermore, Estonia's strict data protection laws and progressive regulatory framework make it an attractive market for AI Service Robotics companies. This unique combination of factors is driving the growth of the AI Service Robotics market in Estonia.

Underlying macroeconomic factors: The AI Service Robotics Market in Estonia is greatly impacted by macroeconomic factors such as the country's economic stability, government policies, and technological advancements. With a highly developed digital infrastructure and a favorable regulatory environment, Estonia is experiencing significant growth in the AI Service Robotics Market. Additionally, the country's strong investment in artificial intelligence and robotics technologies, coupled with a skilled labor force, is driving the development and adoption of AI service robots in various industries. Furthermore, the increasing demand for automation and efficiency in businesses is fueling the growth of the AI Service Robotics Market in Estonia.

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 - Estonia

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