AI Robotics - South Africa | Statista Market Forecast

The market size in the AI Robotics market is projected to reach US$188.70m in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 26.39%, resulting in a market volume of US$768.90m 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 South Africa is experiencing rapid growth, driven by factors such as the increasing adoption of digital technologies, rising awareness about the benefits of AI in healthcare, and the convenience of online health services. The intense growth rate can be attributed to the advancements in AI technology, increasing demand for automation in various industries, and government initiatives to promote AI research and development. These factors are expected to continue fueling the market's growth in the coming years.

Customer preferences: With the rapid advancement of AI technology, there has been a notable shift in consumer preferences towards AI-powered robotics in South Africa. This trend can be attributed to the country's increasing focus on automation and digitalization in various industries, such as manufacturing and healthcare. Furthermore, the country's large youth population and their affinity towards technology have also contributed to the growing demand for AI robotics. This has led to the emergence of new applications and use cases for AI in the market, such as autonomous vehicles and delivery drones, further driving the growth of the AI robotics market in South Africa.

Trends in the market: In South Africa, there is a growing interest in using AI robotics to automate processes and increase efficiency in various industries, such as manufacturing and healthcare. This trend is expected to continue, with companies investing in AI-driven solutions to optimize operations and reduce costs. Additionally, there is a rising demand for intelligent virtual assistants and chatbots in customer service, as they offer 24/7 support and improve customer experience. This shift towards AI and robotics has significant implications for industry stakeholders, including increased productivity, improved customer service, and potential job displacement. As the technology continues to advance, it is crucial for companies to stay updated and adapt to the evolving market to remain competitive.

Local special circumstances: In South Africa, the AI Robotics Market within the Artificial Intelligence Market is heavily influenced by the country's unique cultural and regulatory landscape. The market has seen significant growth due to the government's focus on promoting technological advancements and innovation. Additionally, South Africa's diverse population and geographic location have led to the development of AI solutions tailored to specific local challenges, such as improving healthcare access in remote areas and addressing economic disparities. These factors have contributed to a dynamic and rapidly evolving market for AI robotics in South Africa.

Underlying macroeconomic factors: The AI Robotics Market within the Artificial Intelligence Market in South Africa is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. As a rapidly developing economy, South Africa offers a favorable regulatory environment and strong investment in AI and robotics, driving market growth. The country's increasing emphasis on innovation and automation, coupled with a growing demand for advanced technologies in industries such as healthcare and manufacturing, further fuels the growth of the AI Robotics Market in South Africa.

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 - South Africa

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