Consumer Robots, Enterprise Robots, Autonomous Vehicles, and Unmanned Aerial Vehicles Are Expanding Their Share of the $52.7 Billion Annual Robotics Market
The robotics market continues to experience a profound and significant restructuring as the traditional industrial robotics sector continues to shrink as an overall percentage of the total robotics market. According to a new report from Tractica, non-industrial robots represented 70% of the $39.3 billion robotics market globally in 2017, growing from a 64% share in 2016. By the end of 2018, the market intelligence firm expects that non-industrial robots will rise to 76% of the total market, which will have grown to $52.7 billion by that time.
Tractica’s analysis finds that most robotics industry growth is being driven by segments like consumer, enterprise, healthcare, military, unmanned aerial vehicles (UAVs), and autonomous vehicles.
According to research director Aditya Kaul, “Consequences of this shift are already beginning to play out, evidenced by recent acquisitions of industrial robotics companies by players in other sectors including consumer electronics companies.”
Moreover, Kaul adds that the epicenter of robotics continues to shift from the traditional centers of Japan and Europe toward the emerging artificial intelligence (AI) hotbeds of Silicon Valley and China. “AI technologies like deep learning, computer vision, and natural language processing (NLP) are revolutionizing autonomy and UI/UX capabilities in robots,” said Kaul.
Tractica’s report, “Robotics Market Forecasts”, covers the global market for robotics, including consumer robots, enterprise robots, industrial robots, healthcare robots, military robots, UAVs, and autonomous vehicles. These categories are further segmented into 23 robot application markets. Market data within the report includes robot shipments and revenue segmented by world region, application market, and enabling technology. The technologies included in the attach rate analysis are machine vision, voice/speech recognition, gesture recognition, and tactile sensors. The forecast period for this report extends from 2017 through 2025.
Tractica is a market intelligence firm that focuses on human interaction with technology. Tractica’s global market research and consulting services combine qualitative and quantitative research methodologies to provide a comprehensive view of the emerging market opportunities surrounding Artificial Intelligence, Robotics, User Interface Technologies, Wearable Devices, and Digital Health.