Driven by improved functionality and an increased business case, the steady growth of robotics could accelerate. Advancements in mechanical dexterity, machine vision, and on-board intelligence are broadening robotic functionality. Paired with internet-connected sensors and software enhanced by artificial intelligence, smart manufacturing and logistics services respond more efficiently to both demand and supply signals. As we discuss in a recent paper, 5 digital innovations to shape a new era of growth, over the last decade, industrial robotic installations have grown at a 13.6% CAGR. McKinsey expects that over next five years robotics will account for 25% of industrial capital spending.
Source: International Federation of Robotics