AI Robotics - Dominican Republic | Statista Market Forecast

The market size in the AI Robotics market is projected to reach US$19.74m in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 26.11%, resulting in a market volume of US$79.41m 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 the Artificial Intelligence market of the Dominican Republic is experiencing significant growth, driven by increasing adoption of digital technologies, rising health awareness among consumers, and the convenience of online health services. Factors such as advancements in AI Service Robotics and AI Industrial Robotics are also contributing to this growth rate.

Customer preferences: As AI robotics continue to advance in the Dominican Republic, there has been a noticeable shift in consumer preferences towards smart home technology. With the country's growing middle class, there is a higher demand for home automation systems that can enhance convenience and security. This trend is also influenced by the country's increasing urbanization and the desire for more efficient and connected living spaces. As a result, there has been a rise in the adoption of AI-powered home assistants, such as smart speakers and virtual assistants, to control various aspects of the home.

Trends in the market: In the Dominican Republic, there is a growing interest in the use of AI robotics in the agriculture sector. Farmers are increasingly adopting automated systems for crop monitoring and harvesting, leading to increased efficiency and productivity. Additionally, there is a rising demand for AI-powered logistics and supply chain management solutions to optimize transportation and distribution processes. These trends are expected to continue, fueled by advancements in technology and the need for cost-effective and sustainable solutions in the market. Industry stakeholders can expect to see a shift towards AI-driven decision-making and implementation of automated systems across various industries in the country. This will not only enhance productivity and reduce costs, but also open up new opportunities for businesses to expand their offerings and tap into the growing demand for AI-driven solutions.

Local special circumstances: In the Dominican Republic, the AI Robotics market is experiencing growth due to the country's strategic location as a hub for international trade and investment. The government's efforts to promote technology and innovation, along with its favorable tax policies, have attracted foreign AI companies to establish a presence in the country. Additionally, the Dominican Republic's strong manufacturing sector and skilled labor force are contributing to the development of AI robotics for industrial applications. Despite challenges such as limited internet access, the country's potential for economic development and its progressive stance on technology make it an attractive market for AI robotics.

Underlying macroeconomic factors: The AI Robotics Market in Dominican Republic is heavily influenced by macroeconomic factors such as technological advancements, government policies, and investment in research and development. Countries with favorable regulatory environments and strong support for 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 various industries, along with the rising need for cost-effective solutions, is driving the growth of the AI Robotics Market in the country.

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 - Dominican Republic

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Value

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Technology

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