With artificial intelligence becoming more advanced as the years go by, it makes sense that we’re seeing a rise in the development of robots and drones. The future of these machines are autonomous, and that’s where increased spending comes into play.
According to recent reports from the International Data Corporation (IDC) Worldwide Semiannual Robotics and Drones Spending Guide, companies will spend $103.1 billion on improving robotics and drones in 2018.
That’s a huge increase of 22.1 percent when compared to 2017. The IDC expects that by the year 2021, spending will double to $218.4 billion, and with an annual compound growth of 25.4 percent.
This information is proof enough of how far technology has come, and that robotics and drones could change the way we live in the future. Things we’ve seen in futuristic movies might one day become a reality, but by then, we’ll probably be too old to care.
Companies spending more on robotics
The report claims that robotics spending will hit around $94 billion for 2018, which is 90 percent of the spending throughout the predicted 2017-2021 forecast. We understand that industrial solutions will take the lion share of robotics spending by 70 percent, while the remaining is left to service and consumer robots.
Manufacturing companies will likely spend the most on robotics, and this number could come at around $60 billion in 2018. Furthermore, the healthcare and resource industries are expected to make significant investments as well, but it’s not yet certain how much.
As for the wholesale and retail industry, they are expected to see the fastest spending growth in 2018. With many companies looking to cut human labor in favor of machines, this shouldn’t come as a surprise.
“Industrial robots are becoming more intelligent, human-friendly and easier to work with,” said Dr. Jing Bing Zhang, research director, Robotics. “This has accelerated their rapid expansion in the manufacturing industry beyond automotive, especially in high-tech manufacturing that requires light-weight robots with higher precision, flexibility, mobility and collaborative capability. Vendors who are not able to meet such demands will see their market position quickly eroded.”
What about drones, then?
The drone market won’t see the same significant growth as the robotics sector, but it will grow nonetheless. The IDC claims this sector will see spending improve by $9 billion for 2018 alone. The enterprise market should deliver more than half of all drone spending for the year, while the balance comes from the consumer market.
So far, we haven’t seen another with drone technology so far ahead, but then there’s always the Chinese.
China will lead with robots, while the U.S. leads with drones
The report says China could become the largest geographic market for robotics, while the United States may take the prize as the largest geographic market for drones. If things go as planned, China might spend 30 percent more than any other nation on robotics, while the United States is expected to spend $4.3 billion on drone technology in 2018.