Loup Ventures: The global industrial robot market is expected to reach US$33.8 billion by 2025

A report released by the International Federation of Robotics and Loup Ventures shows that by 2025, the global industrial robot market is expected to grow by 175% to around US$33.8 billion.

However, the main driver of this growth will no longer be the metal robotic arms that we have seen in the past few decades assembling cars. A new generation of manufacturing robots is emerging that are smaller, more collaborative and more perceptive than traditional machines. By 2025, these so-called "cobots" will account for 34% of industrial robot sales. In 2016, such robots accounted for only 3% of global industrial robot sales.

Collaborative robots are typically cheaper than traditional robots, costing between $25,000 and $45,000, compared with traditional factory robots that can cost as much as $100,000.

The International Federation of Robotics and Loup estimate that the global industrial robot market will reach $14 billion this year, up 13% from $12.3 billion in 2016; sales will increase by more than 20%.