AI Robotics - Estonia | Statista Market Forecast

The market size in the AI Robotics market is projected to reach US$6.93m in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 25.39%, resulting in a market volume of US$26.94m 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 Estonia is experiencing rapid growth, driven by factors such as increasing adoption of AI technologies, growing demand for AI-based solutions in both service and industrial sectors, and the convenience and efficiency offered by AI-powered robots. This elevated growth rate can be attributed to the government's initiatives to promote AI adoption and the country's strong technological infrastructure.

Customer preferences: With the increasing adoption of AI technology in Estonia, there has been a shift towards automation and robotics in various industries. This trend is driven by the country's aging population and the need for more efficient and cost-effective solutions. Additionally, there is a growing demand for AI-powered customer service and virtual assistants, as consumers seek faster and more personalized interactions with businesses. This preference for AI-driven solutions is also influenced by Estonia's tech-savvy population and their willingness to embrace new technologies.

Trends in the market: In Estonia, the AI Robotics Market is experiencing a surge in demand for autonomous robots in various industries, such as manufacturing, healthcare, and logistics. This trend is driven by the country's efforts to become a leader in the field of robotics and its government's support for AI research and development. Additionally, there is a growing focus on integrating AI and robotics to improve efficiency and productivity. As this trend continues, it is expected to have a significant impact on industry stakeholders, including increased job opportunities and cost savings. However, it may also pose challenges in terms of ethical considerations and potential job displacement.

Local special circumstances: In Estonia, the AI Robotics Market is experiencing rapid growth due to the country's strong focus on digitalization and innovation. The government's support for research and development, coupled with the country's highly skilled workforce, has created a conducive environment for the growth of AI Robotics. Additionally, Estonia's geographic location between East and West has allowed for easy access to a diverse range of markets, providing unique opportunities for collaboration and expansion. Furthermore, the country's tech-savvy culture and supportive regulatory framework have contributed to the development of a thriving AI Robotics ecosystem.

Underlying macroeconomic factors: The AI Robotics Market within the Artificial Intelligence Market in Estonia is heavily impacted by macroeconomic factors such as government support, technological advancements, and investment in research and development. With a stable economy and a strong focus on innovation, Estonia has become a hub for AI and technology startups. This, coupled with government initiatives to promote AI adoption across various industries, is driving the growth of the AI Robotics Market in the country. Furthermore, the increasing demand for automation and efficiency in the wake of the COVID-19 pandemic has further accelerated the adoption of AI robotics in Estonia.

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 - Estonia

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