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Robotics Market Restructuring Continues as Non-Industrial Robots Poised to Top 75% in 2018
May 25, 2018 | Business WireEstimated reading time: 1 minute
The robotics market continues to experience a profound and significant restructuring as the traditional industrial robotics sector continues to shrink as an overall percentage of the total robotics market. According to a new report from Tractica, non-industrial robots represented 70% of the $39.3 billion robotics market globally in 2017, growing from a 64% share in 2016. By the end of 2018, the market intelligence firm expects that non-industrial robots will rise to 76% of the total market, which will have grown to $52.7 billion by that time.
Tractica’s analysis finds that most robotics industry growth is being driven by segments like consumer, enterprise, healthcare, military, unmanned aerial vehicles (UAVs), and autonomous vehicles.
According to research director Aditya Kaul, “Consequences of this shift are already beginning to play out, evidenced by recent acquisitions of industrial robotics companies by players in other sectors including consumer electronics companies.”
Moreover, Kaul adds that the epicenter of robotics continues to shift from the traditional centers of Japan and Europe toward the emerging artificial intelligence (AI) hotbeds of Silicon Valley and China. Says Kaul, “AI technologies like deep learning, computer vision, and natural language processing (NLP) are revolutionizing autonomy and UI/UX capabilities in robots.”
About Tractica
Tractica is a market intelligence firm that focuses on human interaction with technology. Tractica’s global market research and consulting services combine qualitative and quantitative research methodologies to provide a comprehensive view of the emerging market opportunities surrounding Artificial Intelligence, Robotics, User Interface Technologies, Wearable Devices, and Digital Health. For more information, click here.
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