Market Trends of AI in Robotics Industry
This section covers the major market trends shaping the Artificial Intelligence in Robotics Market according to our research experts:
Industrial Robots Expected to Grow Significantly
- Major technological disruptions, like artificial intelligence and machine learning, are making their way to the industrial robotics industry. Industrial robots are used in factories to do dangerous, repetitive, boring, and/or automated tasks that need to be done quickly and accurately.
- The merging of AI and industrial robotics is providing several benefits to its early adopters. One of the greatest benefits is increased uptime and productivity from predictive maintenance. With AI integrated with industrial robotics technology, robots can monitor their accuracy and performance, signaling when maintenance is required to avoid expensive downtime.
- Furthermore, AI-based industrial robots make fault detection and resolution easier.They are programmed to detect the defects and fed with solutions to overcome the damage.
- Also, industrial robots improve production speed, accuracy, and safety. Robots also enable organizations to adopt modern manufacturing techniques and build a robust manufacturing industry. AI technology can give robots the power to see, identify, and interact with what they see.
Global shipments of industrial robots totaled about 384,000 in 2020, a little up from 2019. Industrial robot shipments are anticipated to rise sharply in the years to come, possibly even exceeding the peak year of 2018, when some 422,000 industrial robots were shipped globally. Global shipments of industrial robots are predicted to reach 518,000 units in 2024.
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North America is Expected to Grow Significantly
- The North American region is one of the prominent innovators and pioneers in the adoption of robotics and is one of the largest markets. The factors driving the market growth include the increase in warehouse automation, rising adoption of automated material handling and trends, like lights-out automation, and increasing adoption of these robots across numerous industries.
- Robots in the coming future, with the help of technology, will be able to perceive their nearby environments through every connected sensor in real-time, learn naturally from surroundings and use natural language processing, and maintain their hardware by predicting failures that other robots will fix. These trends in the market are expected to drive the demand for robots during the forecast period.
- The automotive, food and beverage, and pharmaceutical sectors are the region's largest sources of demand for industrial robots. Industrial robots are extensively being deployed in food and beverage manufacturing establishments. Furthermore, the stringent food safety regulations and preference for low human intervention in the production process are expected to increase the demand for the food and beverage industry over the forecast period.
- The major driver for the growth of robots in the region is that all the manufacturing industries in the U.S. are currently under the ongoing trend to automate their production process to strengthen the U.S. industries in both domestic and international markets.
- Although numerous A.I. efforts have surfaced at the state and federal levels, the United States still needs to pass comprehensive A.I. legislation. More federally proposed measures were introduced from 2 in 2012 to 131 last year, including A.I. provisions. Even though the number of legislation presented has dramatically increased, only 2% of those proposals are finally passed into law by the U.S. Congress. But with a foundation law, businesses can use A.I. technologies per the rules and regulations established by the government, making it more straightforward for them to adopt the technology. Thus, this is anticipated to drive the market in the upcoming years.
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