Robotics industry growth to be gigantic in next five years, says report

DENVER BUSINESS JOURNAL - Growth in the global robotics market is expected to be massive in the next five years, according to Boulder market intelligence firm.

Revenue from sales of industrial and non-industrial robots is expected to rise from $31 billion in 2016 to $237.3 billion by 2022, according to Tractica research.

Most of the growth will come from the massive increase in sales of consumer robots, enterprise robots, autonomous vehicles, and unmanned aerial vehicles (drones), which will overtake traditional industrial robots, according to Tractica.

“The key underlying story emerging in the industry is that industrial robotics, which has been the traditional pillar of the robotics market, has given way to non-industrial robot categories like personal assistant robots, UAVs, and autonomous vehicles,” said Aditya Kaul,Tractica research director, in a statement.

Read more at the Denver Business Journal: http://bit.ly/2tpOTVl

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