AI Industrial Robotics - LATAM

  • LATAM
  • The market size in the AI Industrial Robotics market is projected to reach US$0.53bn in 2024.
  • The market size is expected to show an annual growth rate (CAGR 2024-2030) of 25.49%, resulting in a market volume of US$2.07bn by 2030.
  • In global comparison, the largest market size will be in the United States (US$2,940.00m in 2024).
 
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Analyst Opinion

In recent years, the AI Industrial Robotics Market in LATAM has been experiencing significant growth due to factors such as increasing adoption of AI technologies, growing industrial automation, and the convenience offered by AI-powered robotics solutions. This growth rate is being impacted by the rising demand for advanced manufacturing processes and the need for efficient and cost-effective production.

Customer preferences:
With the rise of automation and advanced technology, there has been a growing demand for AI-powered industrial robots in the LATAM region. This trend is driven by the need for increased productivity and efficiency in manufacturing processes. Furthermore, there is a growing focus on incorporating AI capabilities into robotics to enhance their decision-making and problem-solving capabilities, leading to more advanced and adaptable robots. This trend is also influenced by the region's growing tech-savvy population and the increasing adoption of AI-driven solutions in various industries.

Trends in the market:
In LATAM, the AI Industrial Robotics Market is experiencing a surge in demand for automation solutions in manufacturing and logistics industries. This trend is fueled by the region's increasing focus on digital transformation and the need for efficient and cost-effective operations. As a result, there is a growing adoption of collaborative robots and autonomous guided vehicles in factories and warehouses. This trend is expected to continue in the coming years, presenting opportunities for industry players to expand their presence in the region and cater to the evolving market needs. Additionally, the rise of e-commerce and the need for faster order fulfillment is also driving the demand for AI-powered robotics in the region.

Local special circumstances:
In LATAM, the AI Industrial Robotics Market is fueled by the rapidly growing manufacturing sector, particularly in countries like Mexico and Brazil. These countries are leveraging AI-powered robots to increase productivity and reduce labor costs. Additionally, the region's heavy reliance on exports has led to the adoption of AI robotics in logistics and supply chain management. However, the market is also affected by political and economic volatility, which can impact investments and hinder growth.

Underlying macroeconomic factors:
The growth of the AI Industrial Robotics market is also influenced by macroeconomic factors such as technological advancements, government initiatives, and investment in industrial automation. Countries with supportive regulatory environments and strong investment in AI technology are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Moreover, the rising demand for efficient and cost-effective manufacturing processes, especially in emerging economies, is propelling the adoption of AI industrial robotics systems.

Methodology

Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. This data helps us estimate the market size for each country individually.

Forecasts:In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.

Overview

  • Market Size
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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