Worldwide spending on Robotics to reach $135 Billion

06.05.16 04:41 PM By Alog Tech

International Data Corporation (IDC) has identified robotics as one of six Innovation Accelerators that will drive digital transformation. IDC forecasts global spending on robotics and related services to grow at a compound annual growth rate (CAGR) of 17% from more than $71 billion in 2015 to $135.4 billion in 2019. The Asia/Pacific region including Japan accounts for more than 65% of total robotics spending throughout the forecast. Robotics spending will nearly double in Asia/Pacific over the 2015-2019 forecast period, making it the fastest growing region followed by the Americas. This is being driven by increasing labor costs, shortage of skilled labor, and an increasing emphasis on repeatable quality in conjunction with a reduction in prices of robotic systems.