AI Robotics - South Korea | Statista Market Forecast

The market size in the AI Robotics market is projected to reach US$347.40m in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 25.30%, resulting in a market volume of US$1.34bn 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 Korea is experiencing rapid growth, driven by factors such as increasing adoption of digital technologies, growing awareness of AI in healthcare, and the convenience of online health services. The market's elevated growth rate is influenced by the advancements in AI Service Robotics and AI Industrial Robotics, as well as the country's strong investment in AI research and development.

Customer preferences: In South Korea, consumer preferences are shifting towards AI-powered robotics, with a growing demand for smart homes and automated services. This can be attributed to the country's aging population and the need for more efficient and convenient solutions. Additionally, the concept of "cute" or "kawaii" culture in South Korea has also influenced the design and development of AI robots, making them more attractive and relatable to consumers. This trend is expected to continue as technology advances and consumers seek more personalized and convenient options in their daily lives.

Trends in the market: In South Korea, there is a growing trend of integrating AI robotics technology in various industries, including manufacturing, healthcare, and retail. With the government's push for a "smart" society, investments in AI robotics are increasing, leading to the development of advanced robots with human-like capabilities. This trend is significant as it has the potential to transform the country's economy and improve productivity. However, it also raises concerns about job displacement and the need for proper regulations to ensure ethical use of AI robotics.

Local special circumstances: In South Korea, the AI Robotics market is thriving due to the country's advanced technological infrastructure and government support for AI research and development. The country's emphasis on education and innovation has led to a highly skilled workforce in the field of AI, driving the growth of the robotics market. Additionally, South Korea's aging population has created a demand for AI-powered healthcare solutions, leading to the development of robotic assistants for elderly care. The country's strict data privacy laws also play a significant role in shaping the market, promoting consumer trust in AI technology.

Underlying macroeconomic factors: In South Korea, the growth of the AI Robotics market is heavily influenced by macroeconomic factors such as government support, technological advancements, and investment in research and development. With a strong focus on innovation and a thriving tech industry, South Korea is well-positioned to drive market growth in the AI Robotics sector. Additionally, the country's robust economy and favorable regulatory environment create a conducive market for AI Robotics companies to thrive. As the demand for automation and efficiency continues to rise globally, South Korea's AI Robotics market is expected to experience significant growth in the coming years.

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 Korea

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Value

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