AI Robotics - Australia & Oceania

The market size in the AI Robotics market is projected to reach US$340.40m in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 25.40%, resulting in a market volume of US$1.32bn by 2030.
In global comparison, the largest market size will be United States (US$5.64bn in 2024).

Definition:

Artificial intelligence robotics refers to the field that combines artificial intelligence (AI) and robotics and aims to develop intelligent machines capable of performing tasks autonomously. These robots are equipped with AI algorithms and techniques that enable them to perceive, learn, reason, and make decisions in real time. By integrating AI into robotics, these intelligent machines can adapt to dynamic environments, interact with humans, and carry out complex tasks. These developments pave the way to a wide range of applications in areas such as manufacturing, healthcare, exploration, and assistance, with the goal of enhancing efficiency, productivity, and human-machine collaboration.

Structure:

The Artificial Intelligence (AI) Robotics market consists of two components. One of them is AI Service Robotics, which includes the development, manufacturing, and deployment of robotic systems designed for consumer-facing applications. The other one is AI Industrial Robotics, which encompasses the development, manufacturing, and deployment of autonomous machines and robotic systems for use in industrial settings, such as manufacturing plants, warehouses, and logistics operations.

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 (AI) Robotics companies. Key players of the market include companies such as Boston Dynamics, ABB, and Fanuc.

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Service robots such as social robots, cleaning robots
Industrial robots such as collaborative robots, automated guided vehicles

Non-artificial Intelligence applications of process automation, such as batch processing and scheduling, which do not involve machine learning or cognitive automation.

The AI Robotics market in Australia & Oceania is seeing rapid growth, fueled by factors like increasing adoption of AI technologies, growing health consciousness among consumers, and the convenience of online health services. The market's elevated growth rate can be attributed to the advancements in AI Service and Industrial Robotics, making them more efficient and accessible for various industries.

Customer preferences: As AI robotics continue to advance and become more accessible in Australia & Oceania, consumers are increasingly incorporating them into their daily lives. From household chores to industrial tasks, there is a growing demand for AI-powered robots. This shift is driven by a desire for convenience and efficiency, as well as the need to adapt to a rapidly evolving technological landscape. Additionally, the rise of AI robotics is also fueled by a growing interest in sustainability and reducing the environmental impact of traditional labor and manufacturing practices.

Trends in the market: In Australia & Oceania, the AI Robotics Market within the Artificial Intelligence Market is experiencing a surge in adoption in various industries such as healthcare, manufacturing, and agriculture. The use of AI-powered robots is increasing productivity, efficiency, and safety in these sectors. Additionally, there is a growing trend of using AI for predictive maintenance and quality control in manufacturing. This trend is expected to continue as businesses realize the potential of AI Robotics in streamlining operations and reducing costs. However, this could also lead to job displacement and the need for reskilling for human employees in these industries.

Local special circumstances: In Australia & Oceania, the AI Robotics market is bolstered by the region's highly developed technology infrastructure and strong government support for innovation. Additionally, the cultural emphasis on sustainability and environmental conservation has led to the adoption of AI Robotics solutions in industries such as agriculture and mining. On the regulatory front, Australia & Oceania's strict data privacy laws have fostered a trustworthy environment for the use of AI and robotics in various sectors, including healthcare and finance.

Underlying macroeconomic factors: The AI Robotics Market within the Artificial Intelligence Market in Australia & Oceania is heavily impacted by macroeconomic factors such as technological advancements, government support, and investment in research and development. Countries with robust technological infrastructure and favorable regulatory environments are experiencing faster market growth compared to regions with limited resources and regulatory challenges. Additionally, the increasing need for automation and efficiency in various industries, combined with the growing demand for innovative solutions, is driving the growth of the AI Robotics Market in the region.

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.

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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 Robotics - Australia & Oceania

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AI Robotics - Australia & Oceania

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