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The robotics industry has slowly emerged from the pages of fiction into an exciting new growth market, at least in part because building robots has gotten cheaper. Smarter computers, better sensors, and cheaper chips are indeed behind the recent boom in robotics. Robot devices have become important tools for the military, medical and manufacturing industries over the past decade. Savvy investors and analysts are researching the robotics industry, hoping to pick some winners just as the industry starts getting off the ground, and the robotics industry is reaping these benefits. Robot users, integrators and manufacturers therefore clearly have an optimistic outlook for the robotics industry starting in 2013. Robotics Business Review estimates that consumer robot sales are expected to reach $15 billion by the end of 2015. Within 10 years, multipurpose robots costing $25,000 to $30,000 will be able to perform mundane household chores and serve as butlers at cocktail parties, predicts Robotics Business Review. And also since very recently we have already started to find single-purpose robots that will cut your grass or clean your pool and that is a clear sign of the days to come.
Current Growth Factors and Future Trends
The medical field is seeing great innovations resulting from robotic technology. For instance, the da Vinci Surgical System enhances a surgeon’s ability to operate with greater precision, vision and dexterity. One of the pioneers of this system, Dr. Mani Menon says that, for a surgeon, if you see better and there’s less blood, you do a better job. And in manufacturing sector, Tesla Motors has incorporated robotics into their process to a high degree. The company is using 160 robots alongside its 3,000 workers to build its cars. Tesla recently announced a new robot that can change out a battery in electric cars in about 90 seconds for less time and money than filling up your gas tank. According to Tesla CEO Elon Musk, the new system is designed to encourage people to consider electric cars for long-distance drives.
According to John Bubnikovich, the Executive Director of Marketing and Business Development at ABB Inc, the automotive sector still accounts for 65% of the North American robotics market. Automotive industry’s revitalization has been very influential in the great bounce-back the robotics industry has seen recently. And Mr. Bubnikovich also predicts that very soon more robotics in the food and beverage sector in 2013. The food and beverage industry has adopted robotics over the last few years and is still a high growth sector. Advancements in high sanitation robots will continue to move robots up the production line into handling raw or unpackaged food. Robots can quickly and gently handle food products, increasing productivity while taking the human element out of handling some disease-sensitive foods like meats and produce.
Due to this advancement, such as better sensors and cheaper chips and various other integral components’ improvements are making it easier than ever for companies, both big and small to take advantage of advances in robotic technology. This explosive growth in robotics has created a clear opportunity for forward-thinking investors. The possibilities seem endless, from farming lettuce to ocean exploration. For investors looking for new horizons, robotics may be a promising area to explore.