According to Allied Market Research, by 2020 the global robotics market will reach $82.7 billion, ballooning at a 10% compound rate.
That mammoth grow is being fueled by tech stalwarts like Amazon.com Inc. (Nasdaq: AMZN), Apple Inc. (Nasdaq: AAPL) and Google Inc. (Nasdaq: GOOGL).
My most recent interest in robotics was piqued by a seemingly minor acquisition that Teradyne Inc. (NYSE: TER) just made.
In a time of near-weekly multibillion-dollar deals, Teradyne’s acquisition of a Danish robotics firm for $285 million sounds like small potatoes. But take a look at what that robotics firm is doing:
For Universal Robots, the firm Teradyne bought, sales grew last year by some 70%. And since late 2010, the firm has sold more than 4,000 robots worldwide, increasing sales by 10-fold in the process.