AI Robots Market Trends, Segmentation and Regional Forecast till 2023

Posted by Ehtesham Peerzade on November 23rd, 2020

Market Highlights

AI robots are the peak of robotics technology at present and are being used in various applications due to their diverse applicability and efficient functionality. The use of AI robots for companionship is likely to increase over the forecast period. Due to the development of a hectic urban lifestyle, loneliness has become a serious concern for urban demographics in recent years. Many urban consumers don’t have the time or other resources to establish strong human relationships, leading to loneliness becoming a major concern. AI robots can alleviate the loneliness of such consumers, making their life more bearable. Various kinds of functionality can be built into AI robots, including natural language processing abilities and the ability to have smooth, human-sounding conversations with the users. These functionalities make AI robots a godsend for lonely urban consumers. This is likely to drive the global AI robots market over the forecast period.

The global AI robots market is expected to exhibit a robust 28.24% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global AI robots market was valued at close to USD 3 billion in 2017 and is expected to rise to a valuation of more than USD 12 billion by 2023, according to the MRFR report. The global AI robots market is mainly driven by the growing usage of AI robots in various application sectors. This and other major drivers affecting the global AI robots market are profiled in detail in the report to give readers a clear overview of the major factors making the market tick. Key restraints hindering the AI robots market are also profiled in the report. The competitive landscape of the AI robots market is also profiled in detail in the report. In order to familiarize readers with the competitive landscape of the global AI robots market, major players operating in the market are profiled in the report. The report also examines the impact of the COVID-19 pandemic on the global AI robots market and makes short-term and long-term projections.

The increasing use of AI robots in geriatric and disabled care is also likely to be a major driver for the global AI robots market over the forecast period. Geriatric and disabled care has become a major concern in the healthcare sector in recent years, thanks to the growing population of geriatrics and the growing prevalence of disabilities. Geriatric and disabled care requires several automated tasks such as keeping track of their medications, among others. This makes AI robots the perfect solution for geriatric and disabled care, as automated tasks can be performed with perfect regularity by AI robots. The growing demand for effective solutions for disabled and geriatric care in the coming years is likely to remain a major driver for the global AI robots market over the forecast period.

Regional Analysis:

North America is likely to remain the leading regional market for AI robots over the forecast period.

Segmentation:

The global AI robots market is segmented on the basis of offering, type, technology, application, and region.

By offering, the global AI robots market is segmented into software and hardware. The software segment is further sub-segmented into AI platforms and AI solutions, whereas the hardware segment is further sub-segmented into processors, storage devices, and network devices.

By type, the global AI robots market is segmented into service robots and industrial robots.

By technology, the market is segmented into machine learning, context awareness, computer vision, and natural language processing.

By application, the global AI robots market is segmented into law enforcement, military and defense, public relations, personal assistance and care, education and entertainment, research and space exploration, agriculture, healthcare, industrial, stock management, and others.

Key Players

Leading players in the global AI robots market include Jibo, Asustek Computer, LG, Neurala, Mayfield Robotics, Hanson Robots, Softbank, Promobot, Blue Frog Robotics, Amazon, Kuka, Fanuc, Xilinx, Harman International Industries, IBM, Alphabet, Microsoft, Intel Corporation, ABB, and NVIDIA.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/ai-robots-market-6684