Robotics [New] The high cost of surgical robots has been a barrier, but the global market for surgical robots is experiencing a compound annual growth rate of 10.4%, from $3.9 billion in 2018 to $6.5 billion by 2023. [New] The global market for smart robots will surpass $16 billion by 2025, and the market for AI in healthcare alone will exceed $6 billion by next year. [New] Technological advancements and increasing applications in medical devices sectors would provide growth opportunities to the robotics prosthetics industry during the forecast period 2020-2029. [New] The logistics robot market is expected to grow with an 18% compound annual growth rate, which equates to roughly 485,000 logistics robots expected to be sold in total from 2019 to 2021. [New] The Plastic and Chemical Robotics Market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2020-2025). The worldwide market for Surgical Robots is expected to grow at a CAGR of roughly 20.1% over the next five years, will reach USD 2980 million in 2024, from USD 1190 million in 2019. The global commercial robotics market was valued at USD 6.4 billion in 2017, and is expected to reach a value of USD 28.1 billion by 2023, at a CAGR of 22.14%, during the forecast period (2018-2023). The International Federation of Robotics has predicted an annual growth rate of 17% for manufacturing robots worldwide and for service robots to reach a combined market size of $45.7 billion by year's end. With the global medical robotics market expected to reach $20 billion by 2023, robots in healthcare are set to perform many different tasks. The market for service robots is growing rapidly and is forecast to reach USD 4.34 billion by 2023. Worldwide spending on robotics systems and drones will reach $128.7 billion this year which represents an increase of 17.1% over 2019. The professional service robot market is expected to grow at a compound annual growth rate of 22 to 25% over the next three years. The global market for robots is predicted to worth US$ 100 billion in 2020, and will reach nearly US$ 210 billion by 2025, at a growing CAGR of 26%. Asian countries could see heightened demand for robots as wages rise. The Global Robotics Market was valued at around US$ 34 Billion in 2019 and the market is expected to register a double digit CAGR over the forecast period of 2020-2025. 2020 is the year in which half a billion service robots will be sold, generated over £13 billion in revenues. The global Hospital Serving Robot market is expected to expand at a CAGR of +6% over the forecast period 2020-2026. Robots replacing humans saves human soldiers from danger.. Of the almost one million robots Deloitte expects to be sold for enterprise use in 2020, just over half will be professional service robots. Along with supply chain and delivery robots, disinfection robots will help the mobile robotics market grow to $23 billion by 2021. The global Inventory Robots market is anticipated to rise at a considerable rate during the forecast period, between 2020 and 2024. The International Federation of Robots expects demand for robots and cobots (collaborative robots) to grow by 10% in 2020, while Honeywell Robotics are confidently investing heavily in warehouse robotics automation. See full forecast Last updated: 12 July 2020 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No
