AI Robotics - Southern Asia | Statista Market Forecast

The market size in the AI Robotics market is projected to reach US$443.80m in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 26.03%, resulting in a market volume of US$1.78bn 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 Artificial Intelligence (AI) Robotics Market in Southern Asia is experiencing remarkable growth, driven by factors such as increasing adoption of AI technologies, rising awareness of the benefits of AI in healthcare, and the convenience of online health services. The market's significant growth rate can be attributed to the demand for AI Service and Industrial Robotics, which offer advanced capabilities and improved efficiency in various industries.

Customer preferences: As the adoption of AI-powered robotics continues to increase in Southern Asia, there is a noticeable shift towards more personalized and intuitive solutions. With cultural emphasis on efficiency and convenience, consumers are gravitating towards AI-powered virtual assistants for various tasks, from managing daily schedules to making financial transactions. This trend is also driven by the growing aging population in the region, as AI-powered robots offer a cost-effective solution for elderly care and assistance.

Trends in the market: In Southern Asia, the AI Robotics Market within the Artificial Intelligence Market is experiencing significant growth, driven by the increasing adoption of automation in various industries. This trend is expected to continue, with a projected CAGR of 34% over the next five years. This has significant implications for industry stakeholders, as it presents opportunities for increased efficiency, cost savings, and productivity. Additionally, the growing investment in research and development of AI and robotics technologies in the region is expected to further fuel the growth of this market.

Local special circumstances: In Southern Asia, the AI Robotics Market within the Artificial Intelligence Market is heavily influenced by the region's rapid economic growth and increasing focus on technological advancements. In countries like India and China, the market is driven by the demand for automation and the adoption of Industry 4.0 technologies in various industries. Additionally, cultural attitudes towards technology and government policies promoting innovation also play a significant role in shaping the market dynamics. In contrast, countries like Sri Lanka and Bangladesh are still in the early stages of AI adoption, with a focus on developing a skilled workforce and establishing a regulatory framework for ethical AI use.

Underlying macroeconomic factors: The AI Robotics Market within the Artificial Intelligence Market in Southern Asia is heavily influenced by macroeconomic factors such as technological advancements, government policies, and investment in infrastructure. Countries with supportive regulatory environments and significant investments in AI and robotics are experiencing rapid market growth, while those with regulatory challenges and limited funding are lagging behind. The increasing adoption of AI and robotics in various industries and the growing need for automation to enhance productivity and efficiency are also driving market growth in the region. Furthermore, the rise of digital transformation and the increasing demand for advanced technologies to address complex business challenges are expected to further fuel the growth of the AI Robotics Market in Southern Asia.

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 - Southern Asia

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