The investment bank calculates that the market was worth approximately $98 billion in 2018.
DC Advisory says changing consumer market has driven manufacturers and logistics companies to adopt new methods of production and distribution – chiefly the new generations of robotics and automation technology.
DC Advisory says: “Where historically, factory and warehouse automation was synonymous with large, heavy machines operating behind the safety of a metal cage, the evolution of ‘on-demand’ consumer requirements has forced supply chain operators to adopt a more flexible model.
“This, coupled with the declining cost of automation and advances in technology, has increased investment into the installation of robots worldwide.”
The company lists the main drivers of change and growth in the market as:
- shifts in consumer demand drive investment in automation;
- digitalisation of the factory floor;
- evolution of collaborative robotics; and
- robotics is a global market with Asia as a driving force.
Another key driver of change and growth, says DC Advisory, is the level of funding into robotics start-ups over the last five years.
DC Advisory, an investment bank, says that $1.2 billion in US venture-capital deals have been made in logistics-focused robotics and automation companies since 2015.
DC Advisory says: “We believe this has contributed to a rapidly growing number of robotics and software companies focused on the supply chain in order to fill the gap.”