Robotics Market Forecast Indicates Industry to Expand to $226.2 Billion by 2021

Published by , March 13, 2017 12:09 pm

(YahooFinance)  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 author forecasts that 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 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 2016 marks one of the critical turning points of this shift in the robotics market, as Tractica 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, and UAVs.

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