A new report from research firm IDC forecasts worldwide spending on robotics and drones solutions will reach $201.3 billion in 2022 and achieve a compound annual growth rate (CAGR) of 19.6% over the 2017-2022 forecast period. Robotics and drone spending is expected to be $95.9 billion in 2018.
Spending on robotics solutions is expected to total $86.6 billion in 2018 and will account for more than 85% of all spending throughout the five-year forecast.
Industrial robotic solutions will account for the largest share of robotics spending (more than 57%), followed by service robots and consumer robots.
Discrete and process manufacturing will be the leading industries for robotics spending at more than $54 billion combined in 2018.
The resource and healthcare industries will also make significant investments in robotics solutions this year. The retail and wholesale industries will see the fastest robotics spending growth over the forecast with CAGRs of 32.7% and 30.7%, respectively.
“Collaborative robots are taking off in industrial applications, driven by customer demands for product quality, delivery, and mass customization,” said Dr. Jing Bing Zhang, research director at IDC.
“While being safe is the prerequisite for any collaborative robot, the market is already shaping the development of collaborative robots towards simplicity, smartness, and ease of redeployment.”
Worldwide drone spending will be $9.3 billion in 2018 and is expected to grow at a faster rate than the overall market with a five-year CAGR of 32.1%.
Enterprise drone solutions will deliver more than half of all drone spending throughout the forecast period with the balance coming from consumer drone solutions. Enterprise drones will increase its share of overall spending with a five-year CAGR of 37.1%.
The utilities and construction industries will see the largest drone spending in 2018 ($925 million and $808 million, respectively), followed by the process and discrete manufacturing industries.
Key growth in drone spending will come from various industries including education (72.8% CAGR) and federal/central government (70.1% CAGR).
“Organizations continue to explore a range of applications and use cases for drones, moving beyond aerial photography to drone-based deliveries, precision agriculture monitoring, and even time-sensitive medical deliveries. With these expanded use cases come concerns across many governing parties. Most regions, however, are starting to provide regulatory clarity, as they understand the growing need for drone control and an air traffic management system for both enterprise and consumer deployments,” said Stacey Soohoo, research manager at IDC.
?In addition, as safety continues to be a major concern for consumers and regulators, vendors and IT suppliers are working to alleviate concerns by building drones with multiple redundancies, improving their sensory and collision avoidance technology, and testing 5G-enabled drones to enable greater connectivity while lowering latency. The sky’s the limit?.
