According to a recent report from marketing intelligence firm Tractica, the robotics market is passing through a major turning point. Non-industrial robots in the market have significantly grown and in 2016 they will make up 59% of this sector’s revenue. Industrial robots which traditionally dominated the market will decline to 41%.
“The definition of a robot is in flux and traditional robot manufacturers that have been building and supplying robots for decades have seen this industry undergo a dramatic transformation in the past few years,” stated by Tractica research director Aditya Kaul in a recent press release.
The growth of the non-industrial sector of robotics is due to an expanding range of uses: consumer robots, personal and surgical assistants, exoskeletons, enterprise robots, military robots, self-driving aircrafts and automobiles.
Industrial robotics, mostly utilized in industrial shops, will still remain an important part of the market and see increases in the future. The change in market share indicates that robotics have become more integrated into daily life of everyday users rather than simply being used by factories.
According to Kaul, China’s push towards automation in factories will help the industrial robot sector grow at a CAGR of 9.6% over the next few years. Tractica predicts that the overall industry will grow from $34.1 billion in 2016 to $226.2 billion by 2021. Ultimately seeing a very impressive compounded annual growth rate of 46% in the next 5 years.
Tractica has released a report on this research that is titled “Robotics Market Forecasts” with a forecast period that lasts from 2016 to 2021. The methods used for the forecast includes global market sizing, segmentation, and forecasts which covers various sectors within the robotics industry.
