Investment in industrial robotics technology has spiked in the U.S.
According to CB Insights, investment in industrial robotics more than doubled to reach $587 million in 2015 across the States, the Financial Times reported. This investment is contributing to a global growth rate of 17 percent per year, and CB Insights estimates that the market for robotics will swell from $71 billion to $135 billion by 2019.
The source noted that this heavy investment may give the U.S. the opportunity to lead the pack in “a new era of robotics,” along with China. The two countries are anticipated to replace Germany and Japan as the leaders of the industrial robotics sector.
“Deep learning,” an innovative artificial intelligence technique, has recently opened new doors for the industrial robotics market, according to the Financial Times. This capability has led major U.S. internet companies, like Google and Facebook, to explore other applications for robotics, such as self-driving cars. But other companies – even small start-ups, are also getting in on the industrial robotics game, thanks to the growing prevalence of smartphones and falling prices for parts.
However, investment in industrial robotics is up worldwide. Technavio recently released its forecast that the global industrial sensors market, which is a necessary component for industrial robots, will increase at a compound annual growth rate of 10 percent between 2016 and 2020. The company attributed the rise in the technology to the expanding Internet of Things, predicting that 50.2 billion devices will be connected to the Internet by 2020.
“Industrial end-users with a large manufacturing base and sensors/software on board are best positioned to gain from the smart factory efficiency benefits,” said Bharath Kanniappan, a lead analyst at Technavio.