Due to advances in computer vision, artificial intelligence and cloud computing, robots are now capable of performing advanced tasks and operating in challenging environments.
Robotics will be one of the core drivers creating the next wave of technology and the robotics market is estimated to grow to $73 billion by 2025.
A new generation of manufacturing robots is emerging that is more collaborative, smaller and more perceptive than traditional machinery.
Collaborative robots, which Loup Ventures projects will account for 34 percent of the industrial robots sold by 2025, are designed to work safely with and alongside people in factories.
A six-part series by Loup Ventures takes an in-depth look at the global robotics market and identify specific catalysts that will drive growth through 2025.
Check out their series on the robotics market:
- Intro: An introduction to Robotics (Cobots) market growth
- Industrial: Robots used in manufacturing applications in verticals such as automotive, electronics, metals and machinery, and plastics and rubber.
- Commercial: Robots used in all commercial applications outside of manufacturing including warehousing, healthcare, agriculture, construction, security and public safety.
- Domestic: Robots used to perform household chores; for example, vacuuming, mopping and mowing.
- Military: Aerial, ground and marine robots used in intelligence surveillance and reconnaissance (ISR) applications, bomb disposable and cargo transportation.
- Social and Entertainment: Robots used as toys or personal companions.
This year, the market value of industrial robots worldwide is estimated to hit $14 billion, up 13 percent from last year, according to the data from Loup, with more than 20 percent more units sold than in 2016.
Distributors looking to diversify their offerings should investigate this growing market segment, especially when integrated with automation, fluid power, and fluid handling systems.
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