Worldwide spending on robotics systems is forecasted to reach $103.4bn in 2019, growing at a CAGR of 18.9% over the forecast period of 2017–19, according to the International Data Corporation's (IDC's) Worldwide Semiannual Robotics and Drones Spending Guide.
The report also charted the projected growth of the drone market, which is expected to value $12.3bn in 2019, a growth of 30.6% CAGR. Collectively, the IDC has predicted that the robotics system and drone market will value more than $210bn in 2022.
The market spending in robotics is anticipated to be dominated by discrete manufacturing in 2019, with around $50.2bn in revenue spent in this sector, followed by process manufacturing. Robotics have long played a significant role in manufacturing but have historically been used for heavy lifting on the assembly line or for tedious repetitive motions. However, developments in the technology will likely see them pick up more and more complicated tasks over the coming years. Market spending is also anticipated to be particularly high in resource industries, healthcare and consumers.
"Industrial robotics continues to top the technology investment priorities of manufacturing organizations across all major markets surveyed by IDC in 2018," commented Worldwide Robotics research director Dr. Jing Bing Zhang. "While the looming trade war between the US and China is likely to dampen the market growth slightly in the near term, we expect the growth trend to pick up from 2020 onward."
Despite the manufacturing world doing the majority of the spending over the next couple of years, robotics systems are set to see increased investment from a number of industries. Between 2017–22 the sectors expected to see the biggest increase in spending are wholesale, with a CAGR of more than 31%, retail, with almost 30% CAGR, and construction, with a CAGR of more than 28%, according to the report.