AI Robotics - LATAM

The AI Robotics market in LATAM is experiencing noteworthy growth, driven by factors such as increasing adoption of AI technologies, growing awareness of its potential in healthcare, and the convenience of online services. The market's significant growth rate can be attributed to the increasing demand for AI Service and Industrial Robotics, powered by advancements in technology and the need for automation in various industries.

Customer preferences: As AI technology advances, consumers in LATAM are increasingly interested in robotics and automation solutions to improve efficiency and productivity in various industries. This trend is driven by the growing adoption of AI-powered tools and applications, as well as the need for cost-effective and streamlined processes. Additionally, the emphasis on sustainable and eco-friendly practices is leading companies to invest in AI robotics to reduce their environmental impact.

Trends in the market: In LATAM, the AI Robotics market is experiencing a surge in demand for automation solutions across various industries, such as manufacturing, healthcare, and agriculture. This trend is driven by the need for increased efficiency, cost reduction, and improved productivity. Additionally, there is a growing focus on developing AI-powered robotics for remote work and hazardous environments. These advancements have significant implications for industry stakeholders, as they can lead to increased competitiveness, streamlined processes, and improved safety standards. As such, companies in the AI Robotics market should continue to invest in research and development to stay ahead of the curve and capitalize on the potential benefits of this trend.

Local special circumstances: In LATAM, the AI Robotics Market within the Artificial Intelligence Market is heavily influenced by the region's focus on sustainability and natural resource management. This has led to the development of AI solutions for agricultural automation, such as precision farming and autonomous harvesting. Additionally, the rising demand for efficient logistics and transport solutions in countries like Mexico and Argentina has driven the adoption of AI-powered robots in warehouses and factories. These factors, combined with government support for innovation, are expected to drive the growth of the AI Robotics Market in LATAM.

Underlying macroeconomic factors: The growth of the AI Robotics Market within the Artificial Intelligence Market is also affected by macroeconomic factors such as technological advancements, government support, and investment in research and development. Countries with progressive policies and significant investments in AI and robotics are experiencing a significant increase in market growth compared to regions with limited government support and weaker financial resources. Moreover, the rising demand for automation and efficiency in various industries is fueling the adoption of AI robotics, especially in developing economies.

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.