(BetaBoston) — iRobot has the potential to grow much bigger as robots continue to move from the factory and battlefield into the consumer market. iRobot currently has about 500 employees and brought in $557 million in revenue last year, up 14 percent from $487 million in 2013. Many companies are capable of building expensive robots for specific industrial uses. However, very few have amassed the expertise iRobot has developed to make inexpensive robots and sell them to consumers. Those abilities put iRobot in a prime position as the robotics business grows.
Boston Consulting Group, a management consulting firm, estimated the global market for consumer robots will grow 17 percent a year into the next decade, climbing to $9 billion by 2025 from $2.5 billion in 2015.Tags: Boston Consulting Group, iRobot, robotics