TAIPEI (Taiwan News)-- International Data Corporation (IDC) forecast that worldwide purchases of robotics, including drones and robotics-related hardware, software and services, will total US$97.2 billion in 2017, an increase of 17.9% over 2016. IDC expects robotics spending to accelerate over the five-year forecast period, reaching US$230.7 billion in 2021 with a compound annual growth rate (CAGR) of 22.8%.
"The convergence of robotics and artificial intelligence & machine learning are driving the development of the next generation of intelligent robots for industrial, commercial, and consumer applications," said Dr. Jing Bing Zhang, research director, Robotics at IDC. "Robots with innovative capabilities such as ease of use, self-diagnosis, zero downtime, learning and adaptation, and cognitive interaction are emerging and driving wider adoption of robotics in the manufacturing and resource industries and enabling new uses in healthcare, insurance, education, and retail."
The Discrete Manufacturing and Process Manufacturing industries will continue to be the largest purchasers of robotics products and services with 2017 spending totals of US$30.5 billion and US$24.1 billion, respectively. Combined, these two industries will account for more than half of all robotics spending throughout the forecast. The Resource industries, which include mining, oil & gas extraction, and agriculture, will be the third largest robotics market in 2017 with global spending of nearly US$9 billion. The industries that will see the fastest spending growth over the 2016-2021 forecast period are Education, Retail, Construction, Wholesale, and Insurance.