Robotics growth is about more than technology - Verdict

Robotics is a fast-growing industry. A recent report from GlobalData forecasts that it will pass the $500bn mark in 2030, after a decade of double-digit annual growth. That's an impressive figure for an industry that generated global revenue of just $45bn in 2020. Most of the value generated by robotics comes from service robots, a broad category that includes consumer robots, as well as robots used in logistics, healthcare, security, and many other areas of the service sector. However, industrial robots will grow at a faster rate in the 2020s.