Artificial Intelligence (AI) Robots Market to reach $12.36 billion by 2023

Artificial Intelligence Robots Market is all set to reach $12.36 billion by 2023. The market which currently stands at $3.49 billion is expected to grow at a CAGR of 28.78% during 2018-2023.

The growth will primarily be driven by the high adoption of robots for personal use such as companionship and entertainment. Also, the support from governments worldwide for development of modern technologies will propel AI towards prominence and extensiveness. North America as per reports, to hold the second-largest share of the market in 2018.

Major players in the AI robots market are Soft Bank (Japan), Hanson Robotics (China), NVIDIA (US), Intel (US), Microsoft (US), IBM (US), Alphabet (US), Harman International Industries (Samsung) (US), Xilinx (US), ABB (Switzerland), FANUC (Japan), KUKA (a subsidiary of Midea Group) (Germany), Amazon (US), Blue Frog Robotics (France), Promobot (Russia), Jibo (US), ASUS (Taiwan), Mayfield Robotics (US), BSH Hausgeräte (Germany), and LG (South Korea).