AI Robotics - Serbia | Statista Market Forecast

The market size in the AI Robotics market is projected to reach US$20.47m in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 26.95%, resulting in a market volume of US$85.69m 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 Serbia is experiencing intense growth due to factors such as increasing adoption of digital technologies, growing awareness of AI's potential in healthcare, and the convenience of online health services. The sub-markets of AI Service Robotics and AI Industrial Robotics also contribute to this growth.

Customer preferences: The rise of AI and automation in Serbia has led to a growing demand for efficient and cost-effective solutions in various industries, such as manufacturing and logistics. This has been driven by the country's push towards digitalization and modernization, as well as the need to increase productivity and reduce labor costs. Additionally, with the emergence of advanced AI robotics technologies, companies are increasingly incorporating intelligent machines into their operations to streamline processes and enhance decision-making. This trend is expected to continue as businesses in Serbia embrace the benefits of AI and robotics in driving growth and staying competitive in the global market.

Trends in the market: In Serbia, the AI Robotics Market is experiencing a surge in demand for robots in manufacturing and logistics industries. With the rise of automation and Industry 4.0, there is a growing trend towards using advanced robotic systems for increased efficiency and cost reduction. This trajectory is significant as it highlights the potential for AI and robotics to transform traditional industries. Industry stakeholders must adapt to these trends by investing in AI and robotics technology to stay competitive in the market. Failure to do so may result in missed opportunities and falling behind competitors.

Local special circumstances: In Serbia, the AI Robotics market is experiencing growth due to the country's strategic location and affordable workforce. The government has also implemented initiatives to support the development of AI and robotics, such as funding for research and education programs. Additionally, Serbia's unique blend of Eastern and Western cultures has led to the emergence of innovative solutions that cater to both local and global markets. However, the lack of regulations and standards for AI and robotics may pose challenges for market growth.

Underlying macroeconomic factors: The growth of the AI Robotics market in Serbia is heavily influenced by macroeconomic factors such as the country's economic stability, government policies, and investment in technology. The overall global trend towards automation and the increasing demand for AI-driven solutions in various industries are also major drivers of market growth. Additionally, Serbia's recent focus on developing its technology sector and attracting foreign investment has created a favorable environment for the growth of the AI Robotics market. However, challenges such as limited funding and regulatory barriers may hinder market growth 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 - Serbia

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AI Robotics - Serbia

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Value

Market Size

Analyst Opinion

Global Comparison

Methodology

Technology

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Key Market Indicators

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