AI Robotics - Canada | Statista Market Forecast

The market size in the AI Robotics market is projected to reach US$394.10m in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 24.08%, resulting in a market volume of US$1.44bn 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 Canada is witnessing significant growth, driven by factors such as increasing adoption of AI technologies, rising demand for automation in service and industrial sectors, and government initiatives promoting AI research and development. This considerable growth can also be attributed to the increasing integration of AI in various industries, creating a high demand for AI robotics solutions.

Customer preferences: The AI robotics market within the artificial intelligence market in Canada is witnessing a growing demand for autonomous and intelligent robots in various industries, such as manufacturing, healthcare, and logistics. This is driven by the increasing need for automation and efficiency in these sectors. Additionally, there is a growing trend towards human-robot collaboration, where robots are used to assist and work alongside humans in a variety of tasks. This trend is influenced by the cultural value placed on teamwork and cooperation in Canadian society.

Trends in the market: In Canada, the AI Robotics market is witnessing a surge in industrial automation, with companies adopting advanced robotics to improve efficiency and reduce labor costs. In the AI market, there is a growing trend of using machine learning and natural language processing to develop intelligent chatbots for customer service and support. This trend is expected to continue, with AI chatbots becoming more sophisticated and capable of handling complex tasks. Additionally, there is a push towards developing ethical and responsible AI practices, with the Canadian government investing in research and development in this area. This trend is significant as it addresses concerns around the potential negative impacts of AI on society. For industry stakeholders, these trends present opportunities for growth and innovation, but also highlight the need for ethical considerations and responsible use of AI technology.

Local special circumstances: In Canada, the AI Robotics Market within the Artificial Intelligence Market is thriving due to the country's highly educated workforce and strong research and development capabilities. The government's support for innovation and investment in AI technology has also played a significant role in the growth of this market. Additionally, Canada's diverse population and its emphasis on ethical and responsible AI development have differentiated it from other markets. These factors have led to a conducive environment for AI robotics companies to flourish and for the country to become a leader in the AI industry.

Underlying macroeconomic factors: The growth of the AI Robotics market in Canada is largely influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. Canada's strong economic health and stable fiscal policies have created a favorable environment for the growth of the AI Robotics market. Additionally, the country's highly skilled workforce and focus on innovation have also contributed to the market's growth. Furthermore, the increasing demand for automation in various industries, such as manufacturing and healthcare, is driving the demand for AI Robotics solutions in Canada.

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 Robotics - Canada

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Value

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Technology

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