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After years of significant fluctuations and changing global demand, the robotics market is finally entering a strong growth phase. New projections show AI robotics growing much faster than expected just a year ago, with much higher growth rates ahead.
RELATED: The Next Big Tech Boom: AI robotics to skyrocket 280% and hit $64B by 2030
According to data presented by Stocklytics.com, the global AI robotics market is expected to hit a $94 billion value by 2031, or 30% above the previous expectations.
Market Set to Soar 237%, Adding $30 Billion in Value by Decade’s End
The AI robotics industry has been on a bumpy ride over the past years, with the pandemic-driven sales boom followed by a plunge in 2022 and stagnation in 2024. However, the industry is set to recover significantly, with six years of double-digit growth ahead, much higher than forecast last year.
With the surging demand in both the consumer and the industrial sectors fueling AI robotics growth, the Statista Market forecast became much more optimistic. Just a year ago, Statista forecasted that the global AI robotics market would hit a $22.5 billion value this year. Furthermore, the entire segment was expected to grow by a compound annual growth rate (CAGR) of 23.3%, resulting in a market volume of $64.3 billion by 2030 and a massive 184% increase in five years.
However, the latest market forecast is even more optimistic, proving the enormous potential of this segment of the AI industry. According to the latest Statista data, published in March, the global AI robotics market is set to grow by 237% and hit a $76.2 billion value by the end of the decade, nearly 30% more than the previous forecast. This strong growth will keep going, with the market expected to surpass $94 billion by 2031. Statistics show AI industrial robotics will reach $42.6 billion by the end of the decade, 18% higher than earlier forecasts. AI service robots will climb even more, hitting $41 billion, a 46% jump from last year’s estimate.
In global comparison, the United States will remain the AI robotics powerhouse, with its market skyrocketing by 327% and reaching a $40.6 billion value by 2031. China and Japan, which both enjoy strong government support and massive investments in tech innovation, follow with just as impressive 314% and 308% growth rates and $8.7 billion and $3.5 billion values, respectively.
AI Robotics to Grow Five Times Faster than Overall Robotics Industry
The rapid growth of AI robotics stands out even more when compared to the overall robotics industry. According to Statista, the AI robotics market size will grow by an average of nearly $12 billion per year, a figure that outpaces the broader robotics industry by a significant margin.
The overall robotics industry is forecasted to grow five times slower in the same period, rising by 44% and reaching a $73 billion value by the end of the decade.
The full story and statistics can be found here: https://stocklytics.com/content/ai-robotics-growth-speeds-up-market-to-hit-94-billion-by-2031-30-above-expectations/
