Global spending on robotics, drones to reach $103 bn in 2018: IDC

Global spending on robotics and drones is expected to grow 22.1%, year-on-year, to reach $103 billion by the end of 2018, an International Data Corporation report said. The report also said that the spending will more than double to $218.4 billion by 2021, with a compounded annual growth rate of 25.4%. According to the market research firm, robotics spending, which is expected to touch $94 billion in 2018, will account for over 90% of all spending between 2017 and 2021. Industrial robotic solutions will account for the largest share of robotics spending, with over 70% of the total amount, followed by service and consumer robots. "Industrial robots are becoming more intelligent, human-friendly and easier to work with," said Jing Bing Zhang, research director, robotics at IDC. "This has accelerated their rapid expansion in the manufacturing industry, beyond automotive, especially in high-tech manufacturing, which requires light-weight robots with higher precision, flexibility, mobility and collaborative capability."