Spending on robotics and related services will more than double by 2020, increasing from $91.5 billion in 2016 to more than $188 billion in 2020.
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“This growth is fueled by a combination of technology improvements, expanded use cases, and acceptance in the market,” said John Santagate, research manager, Supply Chain at IDC Manufacturing Insights.
Innovation is assisting robotics companies to deliver a wide variety of robots to perform a range of tasks that will expand the adoption of robotics in industries.
Manufacturing industry will be the largest spender on robotics with more than half of all robotics spending globally. Discrete Manufacturing will be delivering 31 percent and Process Manufacturing will be providing 28 percent of the total robotics spending in 2016.
Discrete manufacturing and process manufacturing industries will be investing nearly $110 million in robotics in 2020. Assembly, welding and painting is the leading robotics use case in the Discrete Manufacturing industry. Mixing is the leading robotics use case in Process Manufacturing, said IDC in its latest research report.
Resource industries will be spending $8 billion in robotics.
Consumer segment will be spending $6.5 billion towards robotics.
Healthcare industry will be spending $4.5 billion on robotics.
Industries such as resource, consumer and healthcare will maintain their positions throughout the forecast period. Consumer spending on robotics will significantly narrow the gap with Resource Industries by 2020.
Cross Industry robotics spending, which represents use cases common to all industries, such as warehouse pick and pack, will also rank among the top segments throughout the five-year forecast. Consumer, Healthcare, and Retail industries will experience the fastest growth over the 2015-2020 forecast period.
“We are seeing faster growth of robotics adoption in general industry roles, and some leading suppliers we tracked have enjoyed compound annual growth rates of more than double that for automotive industry for the past few years,” said Jing Bing Zhang, research director, Robotics at IDC Manufacturing Insights.
Purchases of robotics systems, which include consumer, industrial, and service robots, and after-market robotic hardware will total more than $40 billion in 2016.
Services-related spending, which encompasses applications management, education & training, hardware deployment, systems integration, and consulting, will be more than $20 billion in 2016.
Spending on drones and after-market drone hardware, the fastest growing segments of robotics spending, will grow to nearly $20 billion in 2020.
Asia Pacific region, including Japan, will account for more than two thirds of total robotics spending throughout the forecast.
Europe, the Middle East, and Africa (EMEA), the second largest region, will be spending $14.7 billion on robotics in 2016.
Americas will be spending $12.9 billion towards robotics expansion in 2016.
Robotics spending will more than double in Asia/Pacific over the 2015-2020 forecast period, making it the fastest growing region followed by the Americas, which will edge ahead of EMEA in total spending by 2018.