Tractica: Global robotics market to reach $248.5 billion in 2025

The global robotics market continues to shift toward non-industrial robots. As expected, the industry is experiencing some growing pains, moving from mature robotics areas to new application areas. According to new data from Tractica, many non-industrial robot categories are beginning to feel the pressure, including consumer robots, unmanned aerial vehicles (UAVs), autonomous vehicles (AVs), and customer service robots.

Tractica expects the non-industrial robotics sector to continue to grow. By 2025, global robotics revenue, including both industrial and non-industrial sectors, will reach $248.5 billion, compared to a market size of $48.9 billion in 2018.

According to a study by Transparency Market Research, the increasing reliance on robots will drive the global robotics market to $147.26 billion, with North American companies accounting for a large share of revenue. The compound annual growth rate will be 17.4% from 2017 to 2025.

Due to the lack of skilled labor in the aerospace, automotive, and healthcare industries, there is a need to integrate robots into the production workflow of these industries. Robotics is increasingly being used in industries known for dangerous working conditions, especially mining, and the energy sector such as oil and gas. The adoption of robots in these industries can reduce the possibility of accidents such as coal mine collapses that kill miners.

Companies headquartered in North America are likely to benefit significantly from the growth of the robotics industry, as IT leaders Alphabet (Google's parent company) and Amazon both have robotics divisions.

199IT.com Originally compiled from: Tractica. Please do not reprint without authorization