Automation Gaining Momentum: 5 Robotics Stocks In Focus

Automation is gaining momentum in this fast-paced business environment due to the enhanced efficiency that robots offer. Industrial and service robots are witnessing rapid adoption as these are helping businesses in production scale expansion and operational cost reduction simultaneously.

Intelligent robots developed by integrating AI and ML tools are becoming mainstream in a number of major sectors including industrial, automotive, electronics, healthcare, and food & beverages.

Notably, the popularity and adoption of robots is on a high in the retail sector due to the growing demand for automated warehouses and fulfillment centers globally. Retailers are tackling labor shortages and wage issues by deploying robots, thereby gaining a competitive edge.

The global robotics market holds immense growth potential. Per the Research and Markets forecast, this market is expected to witness a CAGR of 25% between 2019 and 2024.

Spending on Robotics Set to Increase

According to an IDC report, spending on robotics systems and drones worldwide is pegged at $115.7 billion for 2019 and is likely to hit $210.3 billion by 2022 at a CAGR of 20.2%.

The report anticipates the robotics system segment to be the larger of the two categories over the same time frame, witnessing a CAGR of 18.9%.

Additionally, Statista projects spending on robotics categories in 2020 — Industrial, Commercial, Military and Personal — at $16.4 billion, $10.8 billion, $11.21 billion and $4.5 billion, respectively.

Moreover, for 2025, spending is pegged at $24.4 billion, $17 billion, 16.5 billion and $9 billion, respectively.

The above-mentioned growth factors have been alluring enough to attract several companies from different fields including Amazon (AMZN - Free Report) and Honeywell (HON - Free Report) , among others.

Let’s delve deeper to find out which robotic stocks are well-poised to benefit from this significant growth opportunity.

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