Spending on robotics systems, drones to hit $128.7 bn in 2020
By 2023, this spending will reach $241.4 billion using a (CAGR) of 19.8 percent, said the IDC “Worldwide Robotics and Drones Spending Guide”. Robotics systems are the larger of those two categories throughout the five-year forecast period with worldwide robotics spending forecast to be $112.4 billion in 2020.
Spending on drones will total $16.3 billion in 2020 but is forecast to grow at a faster rate – 33.3 percent CAGR than 17.8 percent CAGR of robotics systems. “Software improvements are among the most important trends currently shaping the robotics industry.
Solution providers are progressively integrating additional software-based, often cloud-based, functionalities to robotics systems,” Remy Glaisner, Research Director at IDC’s Worldwide Robotics: Commercial Service Robots. Discrete manufacturing will be responsible for almost half of all robotics systems spending worldwide in 2020 with purchases totalling $53.8 billion.
The next largest industries for robotics systems will be process manufacturing, resource industries, healthcare and retail. The industries that will see the growth in robotics spending over the 2019-2023 forecast are retail wholesale and construction.
Spending on drones are also dominated by hardware purchases with over 90 percent of the category total going toward customer drones, after-market detectors and service drones in 2020. Drone software spending will mostly go to command and control applications and drone-specific software while services spending will be led by training and education.
Consumer spending drones will total $6.5 billion in 2020 and will represent almost 40 percent of the global total throughout the forecast.
The resource industry will move ahead of manufacturing and both building to become the second biggest industry for spending in 2021, according to the prediction. The fastest growth in drone spending within the five-year forecast period will come from the federal/central government, education and state/local authorities, said the report.