Report: Global Mobile Robotics Market To Reach $54.1 Billion by 2023

Chicago, Ill-based Markets and Markets recently released a report projecting that the mobile robotics market will reach a value of $54.1 billion worldwide by 2023, up from 2018's estimated $18.7 billion.

The growth includes both industrial and personal robots, plus industrial and military applications of robotic technology, as well as sensors, components and operational equipment.

"Robotics has witnessed a quantum leap with the introduction of technologies such as augmented reality, deep learning, and artificial intelligence (AI)," the company commented in its announcement of the study. "[The] mobile robots market for entertainment, education, and personal application is expected to grow rapidly during the forecast period. ... Another driver for the mobile robots market include increasing demand for warehouse automation."

According to the report, North America will be the biggest driver of the market, thanks to industry segments like medical, logistics, education and telepresense. The study names Google, Amazon, iRobot, GeckoSystems and Adept Technologies as major players in the U.S. mobile robotics market.

Other studies have predicted the U.S. robotics market overall will reach $498 billion by 2025.  

Posted by Becky Nagel on 12/05/2018