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Global Robotics Industry to Reach $226.2B by 2021
September 2, 2016 | Business WireEstimated reading time: Less than a minute
Research and Markets has announced the addition of the "Robotics Market Forecasts: Consumer Robots, Enterprise Robots, Industrial Robots, Healthcare Robots, Military Robots, Unmanned Aerial Vehicles and Autonomous Vehicles" report to their offering.
The global robotics industry will expand from $34.1 billion in 2016 to $226.2 billion by 2021, representing a compound annual growth rate (CAGR) of 46%.
The robotics market is undergoing a major transformation, in which robots are growing beyond being the workhorses of industrial shop floors, and are beginning to assume the roles of personal assistants, delivery vehicles, surgical assistants, exoskeletons, autonomous vehicles, and unmanned aerial vehicles (UAVs), among many others.
Until now, industrial robots have made up more than 50% of overall robotics market revenue, however according to this new report, 2016 marks one of the critical turning points of this shift in the robotics market, as the market intelligence firm estimates that industrial robots will drop to 41% of total robotics revenue, with the remaining 59% coming from non-industrial robots. The non-industrial sector largely consists of consumer robots, enterprise robots, military robots, unmanned aerial vehicles, and autonomous vehicles.
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