Bank of America Report Shows Five Fascinating Facts About Booming Robot Market

Published by , November 9, 2015 11:50 am

(Fortune) — Bank of America Merrill Lynch has released a report that said annual global sales of robots reached a record $10.7 billion in 2014. The authors valued the overall market for robotic technologies, which also includes related software and sensors, at $32 billion for the same year. By 2020, the authors expect the robot market to be worth $83 billion.

Five facts from the report:
1. Robots are getting cheaper and more powerful.
2. China is the biggest buyer of robots.
3. The automotive industry is buying one of almost every two robots sold.
4. Will robots take your job? Maybe.
5. Millennials are more likely to trust robots to handle their finances.

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