Despite the coronavirus panic – or perhaps because of it – the robotics industry recently saw deals worth $3 billion.
Here’s the thing. We’re just scratching the surface here.
That amount only covers high-profile deals by two major Silicon Valley firms. One was for venture capital funding and the other for a big merger.
But quietly and behind the scenes, robotics and automation firms garnered at least another $3.9 billion in funding.
And that’s just for February and March of this year.
So, it should come as no surprise that with the coronavirus serving as a fresh catalyst, robotics adoption is likely to grow significantly from here.
After all, one of the most significant effects of the coronavirus has been the fact that it has driven businesses to get human hands off of important work, whether that’s through digital connections or robotic automation.
A new report by MarketsandMarkets says that just the use of industrial bots will grow by roughly 10.4% year, meaning it will double by the end of this decade to more than $73 billion.