- What you need to know
- Growth in the robotics sector is likely to rise dramatically; five years ago, the robot industry was chiefly driven by the automotive industry’s demand for large, caged industrial robots, and was growing by 5% a year.
- China is the single most powerful factor in the global robot demand-supply equation.
- Three technology cycles – cloud computing, artificial intelligence and the Internet of Things – are redefining the robotics industry.
- Collaborative robots, or ‘co-bots’ are the fastest growing robot sub-sector. This is expected to grow at a CAGR of 45%-50% over the next five years.
What could the next five years see for the robotics industry?
The next five years could see the most significance in robot history now that robots are fast evolving parts of the IT industry and Internet of Things.
Consequently, robots may be widely deployed to help meet the mounting structural challenges of the developed world – sagging productivity, aging populations, swelling healthcare budgets, and even epidemics of depression and neuro-degenerative conditions.