Artificial Intelligence Robotics Market is Valued at $2.39Bn in 2019

The Artificial intelligence robotics market is in the growth stage. Artificial intelligence robotics industry has witnessed extraordinary growth in the last decade. Advances in Artificial intelligence robotics have made possible some applications that looked improbable and difficult to achieve only a few years ago. The current wave of Artificial intelligence robotics has enabled technology to perform all sorts of tasks, thus making human life easier and more productive. The evolution of technology has also prompted a new round of excitement about the future potential of Artificial Intelligence Robotics. The current wave of technological advancements in machine learning, including deep neural networks and probabilistic models, has enabled computers to instantly translate spoken and written conversations, recognise and accurately caption photos, identify faces and act as personal assistants. Major factors driving the growth of this technology are core advances in AI, including developments in machine learning, reasoning and perception that are made possible by advances in multiple areas of computer science.

The report analyst commented "Artificial intelligence robotics market is expected to witness a high growth on account of ongoing plans of many companies in various sectors toward automation. Continuous advancements in computer power have enabled the development of more intelligent and stronger AI systems; this will boost the demand for Artificial intelligence robotics globally. The push to increase employment and increase competitiveness will open the market for increased automation. The applications of Artificial intelligence robotics have already pervaded many industries, bringing potential benefits that have been predicted to double the annual economic growth rate in several developed economies in the future. The growth of the Artificial intelligence robotics market is being driven largely by factors such as increasing computing power, increasing labour cost to reduce and automate the production, the increasing availability of big data for learning, and the development of smarter and better algorithms. However, the market for Artificial intelligence robotics is being restrained by factors such as a lack of skilled labour and data privacy issues among consumers."

Leading companies featured in the report who are developing artificial intelligence robotics technology include Vicarious Systems, UBTech Robotics Limited, CloudMinds, Robotics Hanson, Inc., Anki, Brain Corporation, Argo AI, LLC, Nvidia Corporation, Mayfield Robotics, Blue Frog Robotics, Promobot LLC, and ABB.

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