Boost in Robotics Amidst Coronavirus

This week the financial times reported the increase in and robotics and artificial intelligence during the coronavirus pandemic.

FT discusses how the pandemic is driving a shift in companies’ use of technology, making the robotics industry one of the few to benefit from the turbulent economy of 2020.

The spread of the virus “has accelerated the use of robotics and other technologies to take on tasks that are more fraught during the pandemic” - financial times. 

Industries have adapted throughout the pandemic, utilising AI and robotics to improve online shopping experiences due to the increased number of online shoppers this year. Organisations aim to utilise data to keep up with shopping trends and adapt to customer purchasing behaviour.

It was projected the global market for robotics would reach $67 billion by 2025. In 2017, estimates were revised and inclined to $87 billion by 2025. The robotics market at this point was at an estimated $39.3 billion, with 70 per cent (%) representing non-industrial robots. Most of this growth is being driven by segments such as consumer, military, healthcare, unmanned aerial vehicles (UAVs) and Autonomous vehicles. Incorporating the robotic and AI elements of the emerging self-driving industry, it is forecasted the market will reach $237 billion by 2022.

This makes it the fastest growing industry in the world.

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