Robotics spending to hit $135.4 billion in 2019

International Data Corp. or IDC has recognized robotics as one of six Innovation Accelerators that will expedite digital transformation by opening additional revenue streams and revolutionizing the way work is performed. In the latest Worldwide Commercial Robotics Spending Guide, the market research firm predicts global spending on robotics and related services to increase at a CAGR of 17 percent from more than $71 billion in 2015 to $135.4 billion in 2019.

The spending guide measures purchases of robotic systems, system hardware, software, robotics-related services and after-market robotics hardware on a regional level across 13 key industries and 52 use cases.

"Robotics is one of the core technologies that is enabling significant change in manufacturing through factory of the future initiatives. While [used traditionally] in the automotive industry, there is an increasing adoption of robotics in sectors [such as] electronics, retail, healthcare, logistics, agriculture, services, education and government," said Jing Bing Zhang, research director of robotics at IDC Manufacturing Insights. "Such broad-based growth in robotic adoption is being driven by increasing labor costs, shortage of skilled labor and an increasing emphasis on repeatable quality in conjunction with a reduction in prices of robotic systems and strategic national initiatives."

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