Embodied Ai Market Is Expected To Reach Revenue Of USD 4,067.3 Mn By 2033, At 5.4% CAGR: Dimension Market Research.

Advancements and Projections in the Global Embodied AI Market: Insights, Trends, Opportunities, and Recent Developments

New York, Dec. 09, 2024 (GLOBE NEWSWIRE) — Overview

The Global Embodied AI Market is projected to reach USD 2,533.5 million in 2024 which is further anticipated to reach USD 4,067.3 million by 2033 at a CAGR of 5.4%.

The integrations of AI systems into physical systems for the interaction of these systems with the environment, much like humans, have been made possible, influencing the growth of the global Embodied AI market. This has been pushed by advancements in AI and robotics.

Autonomous systems are increasingly finding applications across manufacturing, healthcare, logistics, and automotive segments, making this a very important driver for this sector. It’s a competitive market; with major players investing in AI Research and Development, the segregated market aims to attain a strong CAGR propelled by increasing trends for cost savings and operational efficiency using AI-enabled robotics.

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The US Embodied AI Market

The US Embodied AI Market with an estimated value of USD 946.0 million in 2024 is projected to increase at a compound annual growth rate of 5.1% until reaching USD 1,476.9 million by 2033.

The AI-embodied market of the U.S. is a leading technological innovator, and every other industry of the country has been influenced by it in one way or the other-be it manufacturing, health care, or advanced logistics. There is also widespread adoption going on for autonomous vehicles or industrial robots as the need for automation and operational efficiency goes higher.

Key trends to note in this regard include the integration of AI within the supply chain and the use of robots to optimize warehousing and logistics. Major companies like Google, Boston Dynamics, and Tesla drive the forefront of making developments in autonomous systems that can navigate the most complex environments.

Also, support from the U.S. government for AI research encourages collaboration, thus fostering a strong ecosystem feeding further growth into the market, keeping the United States at the front position globally.

Important Insights

• Global Market Value: The global embodied AI market is estimated to reach USD 2,533.5 million in 2024 and is projected to grow to USD 4,067.3 million by the end of 2033.
• S. Market Value: The U.S. embodied AI market is anticipated to increase from USD 946.0 million in 2024 to USD 1,476.9 million by 2033, reflecting a CAGR of 5.1%.
• Regional Analysis: North America is set to dominate the market, capturing approximately 44.4% of the share in 2024.
• Product Segment Analysis: Robots and exoskeletons are expected to lead the product segment, holding 40.9% of the market share in 2024.
• Application Segment Analysis: Industrial automation is projected to be the leading application segment, accounting for 27.1% of the market share by the end of 2024.
• Key Players: Major players in the global embodied AI market include Boston Dynamics, Agility Robotics, Apptronik, Covariant, Farmwise, Zipline, Avidbots, and NVIDIA, among others.
• Global Growth Rate: The market is forecasted to grow at a CAGR of 5.1% during the projected period.

Latest Trends

• Several industries, including healthcare, manufacturing, automotive, and logistics, are increasingly using embodied AI. Organizations will leverage the use of AI-enabled systems in areas like automation of supply chains and surgery assistance with augmentation, where large gains in operational efficiencies, coupled with cost savings, have been accrued. The deployment of artificial intelligence-powered robots in diverse applications forms one of the key growth trends in the embodied AI market.
• There has been a continuous development in AI and robotics, especially in machine learning and deep learning, which enables the building of high-level autonomous robots. The robots are performing difficult tasks, like industrial automation, data gathering, and autonomous navigation, with higher precision. Improvement in the robotic hardware and AI processing power will further lead to stimulation in the growth of the market.

Embodied AI Market: Competitive Landscape

The competitive scenario of the embodied AI market is dominated by key players striving to extend the potential of AI-powered systems, such as robots and exoskeletons. Prominent companies in the market, such as Boston Dynamics, Honda Robotics, and Sarcos Robotics, are not sparing money in research and development to extend the agility and adaptability quotient of AI mechanisms in industries.

Major developers of exoskeletons, namely Ekso Bionics and ReWalk Robotics, are poised toward applications in health care. AI for logistics and automation is employed in companies such as NVIDIA, Google, and Amazon Robotics. This competitive scenario encourages innovation while these firms work toward meeting the increasing demand for embodied AI solutions.

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Some of the prominent market players:

• Boston Dynamics
• Agility Robotics
• Apptronik
• Covariant
• Farmwise
• Zipline
• Avidbots
• NVIDIA
• Scale AI
• Applied Intuition
• Veo Robotics
• Unity Technologies
• Kuka
• Other Key Players

Embodied AI Market Scope

Market Analysis

Robots and exoskeletons are expected to dominate the embodied AI market, holding 40.9% of the total market share by the end of 2024. Their widespread application in manufacturing, healthcare, and logistics drives this dominance.

Autonomous robots enhance operational efficiency by performing complex tasks without human intervention, boosting productivity and cost savings. Exoskeletons are gaining traction in healthcare and industry, aiding mobility-impaired users and reducing physical strain during heavy lifting.

Continuous advancements in AI technologies enhance the capabilities of both robots and exoskeletons, solidifying their role as key growth drivers in the embodied AI sector.

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Embodied AI Market Segmentation

By Product

• Robots and Exoskeleton
• Autonomous Systems
• Smart Appliances

By Application

• Industrial Automation
• Domestic Assistance
• Human-Robot Interaction
• Autonomous Vehicles
• Logistics
• Other Applications

Growth Drivers

• Demand from manufacturing and logistics for automation is one of the main drivers in the embodied AI market. AI-enabled robots are being deployed by companies to optimize workflows, minimize labor costs, and increase operational efficiency. Industrial robotics in assembly, quality check, and other applications helps to sustain high production rates while decreasing the rates of errors.
• Government and private investments in AI research hold the main key to driving the growth of embodied AI systems. The U.S. and China are funding various projects on AI, hence developing robotics. Large players such as Google and NVIDIA are investing extensively in these technologies, hence offering fresh avenues for market growth.

Restraints

• Data privacy concerns and heavy regulations are bound to hamper the growth in the embodied AI market. Most AI solutions require user data in huge amounts, which in turn becomes a concern for sensitive industries such as health and finance. Regulations such as the GDPR even restrict AI use, thereby challenging solution providers.
• The high costs associated with developing and maintaining embodied AI systems can deter adoption, particularly among SMEs. Initial investments in robotic hardware and AI technology, along with necessary infrastructure upgrades, can be prohibitively expensive, limiting market penetration in price-sensitive environments.

Growth Opportunities

• In the healthcare sector, the field of embodied AI has tremendous growth potential. The application of AI-based robots is fast increasing in quite a few areas like surgical operations, rehabilitation, and monitoring of patients. One of the major applications is seen in minimally invasive surgeries. Due to the rise in demand for medical robotics, it is expected that the market will grow at a fast rate.
• AI-powered autonomous vehicles are poised to significantly impact the embodied AI market, especially in automotive and logistics. Companies are investing in systems that enable vehicles to navigate and make autonomous decisions, optimizing supply chain operations and creating lucrative opportunities for solution providers.

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Regional Analysis

North America is expected to account for 44.4% share of the overall market and lead the global market of Embodied AI in 2024, driven by heavy investments initiated by key players such as Google, NVIDIA, and Amazon Robotics, further driving innovation in AI and robotics.

The early adoption of industrial automation in the U.S. and Canada has helped companies leverage AI-powered robots to attain improvement in productivity along with lean supply chains.

Further, support from governments in the form of public-private partnerships gives a fillip to R&D efforts and provides, in turn, a highly developed environment for growth. The North American region, with its strong infrastructures and continuous improvements, will continue to lead in the US-embodied AI market.

By Region

North America

• The U.S.
• Canada

Europe

• Germany
• The U.K.
• France
• Italy
• Russia
• Spain
• Benelux
• Nordic
• Rest of Europe

Asia-Pacific

• China
• Japan
• South Korea
• India
• ANZ
• ASEAN
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Argentina
• Colombia
• Rest of Latin America

Middle East & Africa

• Saudi Arabia
• UAE
• South Africa
• Israel
• Egypt
• Rest of MEA

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Recent Developments in the Embodied AI Market

• August 2024: Boston Dynamics unveiled a new version of its Spot robot, featuring enhanced AI capabilities for more complex industrial applications, including logistics and construction.
• June 2024: NVIDIA announced its collaboration with Mercedes-Benz to integrate AI-powered autonomous driving systems in future models, enhancing AI adoption in the automotive sector.
• March 2024: Amazon Robotics introduced a new fleet of AI-powered warehouse robots designed to optimize supply chain operations and reduce labor costs.
• December 2023: Google AI launched a new AI platform for healthcare, focusing on using AI-powered robotic systems to assist in diagnostics and surgeries.
• October 2023: Tesla expanded its AI research in autonomous driving, focusing on enhancing its autonomous vehicle technology with new AI algorithms to improve safety and user experience.

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