AI Service Robotics - Hungary | Statista Market Forecast

The market size in the AI Service Robotics market is projected to reach US$12.04m in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 25.84%, resulting in a market volume of US$47.80m 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 Hungary is experiencing elevated growth due to factors such as increasing adoption of AI technologies, rising awareness of the benefits of AI in healthcare, and the convenience of online AI services. This growth is being driven by the growing demand for technologies that can improve healthcare outcomes and efficiency.

Customer preferences: With the rise of AI technology in the service robotics market, there is a growing demand for more advanced and personalized services. This has led to the development of AI-powered robots that can perform tasks such as cooking, cleaning, and even providing emotional support. Additionally, the increasing focus on efficiency and cost-effectiveness has prompted businesses to invest in AI service robots, reducing the need for human labor and increasing productivity. Furthermore, the adoption of AI service robots is also driven by the aging population in Hungary, where there is a growing need for assistance in daily tasks and caregiving.

Trends in the market: In Hungary, there is a growing demand for AI-powered service robotics in various industries, such as healthcare, retail, and manufacturing. This trend is driven by the need for increased efficiency, cost reduction, and improved customer experience. In the AI Service Robotics Market, there is a focus on developing advanced robots with enhanced capabilities, such as natural language processing and machine learning. These developments are significant as they have the potential to transform traditional service models and revolutionize industries. However, there are also concerns about the potential job displacement and ethical implications of using AI in service robotics. Industry stakeholders need to carefully navigate these trends and implications to fully harness the potential of AI service robotics in Hungary.

Local special circumstances: In Hungary, the AI Service Robotics Market is seeing significant growth due to the country's strong industrial sector and government support for automation and digitalization. The market is also benefiting from the high-tech manufacturing industry in Hungary, which has a demand for advanced robotics solutions. Additionally, Hungary's strategic location in Central Europe makes it an ideal location for companies to establish a presence, further contributing to the growth of the AI Service Robotics Market. Furthermore, the country's highly skilled workforce and favorable regulatory environment are also playing a crucial role in driving market growth.

Underlying macroeconomic factors: The AI Service Robotics Market in Hungary is influenced by macroeconomic factors such as technological advancements, government support, and investment in infrastructure. Countries with favorable regulations and robust investment in AI are experiencing higher market growth compared to regions with regulatory challenges and limited funding. Additionally, the growing demand for AI-powered solutions in various industries and the increasing adoption of automation in the region are expected to drive market growth. The country's strong economic growth and favorable business environment also make it an attractive market for AI service robotics companies.

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 - Hungary

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