Revenue for enterprise applications of Artificial Intelligence (AI) will increase from $7.6 billion worldwide in 2018 to $107.3 billion in 2025. Robotics and AI are being deployed across many industries and use cases, with enterprises leading the way.
Guided by early innovators and adopters, the collaborative robotics market will become mainstream over the next 10 years. According to ABI Research, the yearly revenue for cobot arms will reach $11.8 billion by 2030 — that’s an increase from $711 million in 2019.
“The imperative for humans and machines working together is clear. That doesn’t mean the constant media hype about robot overlords doesn’t have an impact – workers hearing about their jobs being displaced on a regular basis may still have reservations about machine co-workers.”
The Industrial IoT Platforms market is accelerating in 2019 as industrial manufacturers prioritize their transformation into IoT data-driven companies. Spending on Platforms-related software and services is forecast to grow at a rate of 40% per year until 2024.
via IoT Analytics
The global modular robotics market was valued at $6.8 billion in 2017 and is projected to register a compounded annual growth rate (CAGR) of over 14% from 2019 to 2027, according to research by TMR.
The manufacturing sector will undergo a transformation as new technologies enable innovative factory automation solutions. The ‘Digital Factory’ market will grow at a compound annual growth rate of 33 percent to reach $673 billion in 2026, according to ABI Research.
Fears that robots will take away jobs from people have dominated the discussion over the future of work, but the ‘World Development Report 2019’ finds that on balance this appears to be unfounded. Instead, technology is bringing opportunity, paving the way to create new jobs, increase productivity, and improve public service delivery.
via World Bank
Non-industrial robots represented 70% of the $39.3 billion robotics market globally. Most of this growth is being driven by new and expanding use cases in segments like agriculture, autonomous vehicles, consumer drones, warehousing, logistics, military and personal assistant robots.
“Globalization 4.0 is going to hit the service sector. Hundreds of millions of service-sector and professional workers in advanced economies will – for the first time ever – be exposed to the challenges and opportunities of globalization.”