Worldwide spending on robotics to exceed $230 billion in 2021, says IDC

A new update to the International Data Corporation Worldwide Semiannual Commercial Robotics Spending Guide forecasts worldwide purchases of robotics, including drones and robotics-related hardware, software and services, will total $97.2 billion in 2017, an increase of 17.9 per cent over 2016.

IDC expects robotics spending to accelerate over the five-year forecast period, reaching $230.7 billion in 2021 with a compound annual growth rate compound annual growth rate of 22.8 per cent.

“The convergence of robotics and artificial intelligence & machine learning are driving the development of the next generation of intelligent robots for industrial, commercial, and consumer applications,” said Dr Jing Bing Zhang, research director, robotics at IDC manufacturing insights.  Continue reading Worldwide spending on robotics to exceed $230 billion in 2021, says IDC