AI Service Robotics - G7 | Statista Market Forecast

The market size in the AI Service Robotics market is projected to reach US$4.04bn in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 24.26%, resulting in a market volume of US$14.86bn 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.

In the rapidly growing AI robotics market in G7 nan, significant growth is driven by factors such as increasing adoption of AI technologies, growing demand for intelligent service robots, and the convenience of using AI-based solutions. The market is expected to continue its considerable growth rate due to the advancements in AI technology and increasing investments in the AI robotics industry.

Customer preferences: With the increasing use of AI in service robotics, consumers are now looking for personalized and interactive experiences with these robots. This has led to a growing demand for robots that can understand and respond to individual preferences and needs. Additionally, there has been a rise in the use of AI-powered robots for tasks such as elder care and household chores, as aging populations and busy lifestyles drive the need for assistance in these areas. As a result, companies in the AI service robotics market are focusing on developing more advanced and human-like robots to meet these changing consumer demands.

Trends in the market: In the AI Service Robotics Market of the AI Robotics Market within the Artificial Intelligence Market, there is a growing trend towards using AI-powered robots for assisted living and elderly care. The aging population and shortage of caregivers have led to an increased demand for these robots, which can assist with daily tasks and provide companionship. This trend is expected to continue, with advancements in AI technology enabling more sophisticated and personalized services. This could have significant implications for industry stakeholders, such as increased efficiency and cost savings for healthcare providers, as well as improved quality of life for elderly individuals. However, it could also raise concerns about job displacement and ethical considerations surrounding the use of AI in caregiving.

Local special circumstances: In G7, the AI Service Robotics Market is thriving due to the high adoption of advanced technologies and the presence of major players in the region. However, in the AI Robotics Market within the Artificial Intelligence Market, the market is influenced by unique local factors. For instance, in Japan, the aging population and shortage of healthcare workers have led to a rise in demand for AI-powered service robots in healthcare. In China, the government's support for smart manufacturing and advancements in AI technology is driving the growth of the AI service robotics market in the region.

Underlying macroeconomic factors: The AI Service Robotics Market of the AI Robotics Market within the Artificial Intelligence Market is influenced by macroeconomic factors such as technological advancements, government policies, and investment in research and development. Countries with favorable regulatory environments and strong investment in AI technology are experiencing faster market growth compared to regions with limited regulatory support and funding. Additionally, the increasing demand for automation and efficiency in industries such as manufacturing, healthcare, and retail is driving the adoption of AI service robotics, leading to market growth.

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 - G7

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