Economic conditions for the robotics development

Over the last few years, robotics has gained even more important economic value in industry and trade. While most of the ideas have already been presented, companies have yet to exploit many specific products, creating an attractive commercial global marketplace. The international community of robotics researchers is well-organized with a wide range of conferences, summer schools, repositories of educational materials, competitions, publications, and awards. These communities maintain communication networks for promotions, job offers, and more.

Asset management companies now offer four robotics funds (including industry) with a total current market capitalization of over $ 6 billion for individuals who can invest in robotics at a low cost. Let's compare the profitability for 2018–2020, the US broad market index S&P 500, and the Nasdaq CTA Artificial Intelligence & Robotics. The Nasdaq CTA Artificial Intelligence & Robotics Index tracks artificial intelligence and robotics companies based in the industrial, technological, medical, and other sectors of the economy. The Artificial Intelligence & Robotics industry has surpassed the S&P 500 by 31% in two years.

Let's look at selecting the main applications for service robots for both professional and consumer use. Numerous web portals or blogs constantly report on the latest robotic products and related technologies. Many world conferences, such as IROS, ICRA, or ISR, are regularly held on robotics or service robotics topics ranging from essential technologies and systems to market-related aspects. In addition, entrepreneurship promotion is usually part of community initiatives or university degree programs and is now an extensive part of venture capital activities.

The categorization and characterization of service robotics industries are pretty complex due to the products' heterogeneity in terms of application, cost, and functionality. However, four different main categories of companies can be listed and their motivations for entering the service of the robotics industry:

Manufacturers of industrial robotics

Industrial robots (robotics) can be used in manufacturing and non-manufacturing applications such as agriculture, medicine, entertainment, transportation, and maintenance. Most industrial robot manufacturers have begun to explore the potential to enter the professional service robotics sector as part of their diversification strategy. Other industrial robot manufacturers expand their service robotics business through acquisitions and mergers.

Manufacturers of special equipment

Typical robotic technologies such as motion control, navigation, and computer vision are increasingly being integrated into machines, vehicles, and handling equipment that were still manually operated. As a result, renowned companies are technologically expanding their product range, including robotics.

Start-up companies, creating new products

Traditionally manual service tasks can increasingly be performed by robots. Examples are inspection, rescue, and safety tasks assisted by robotic products. Start-ups play an essential role in the development of these new high-tech products. Creation and support programs in this area have been initiated and are expected to expand. Numerous sites report the launch of service robots or list these companies.

Manufacturing of consumer goods

Robots for personal and household tasks often use mobile computers, communications, multimedia, and the PC world's technologies. Similarities include designing and manufacturing low-cost products in large markets with short product lifecycles. Like specialty equipment manufacturers, suppliers of consumer products such as vacuum cleaners and consumer electronics are expanding their portfolio to include robotics.

The statistics relieve that today's service robot market consists of many niche products for professional services and several mainstream applications for both professional and home use. Service robotics pioneers highlight the seriousness of the opportunity for new companies entering this growing market with innovative products beyond the occasional robotics hype.