Though artificial intelligence tends to get the biggest share of the hype, the robotics and automation industry is multifaceted—and fast-growing. The broader robotics space is expected to expand at a compound annual growth rate (CAGR) or 16.1%, reaching more than $165 billion by 2029, according to BCC Research. As companies face labor shortages and a need to accommodate significant increases in e-commerce business, automation and robotics can help them to improve efficiency, cut costs, and increase safety.
For everyday consumers, few household names exist in the robotics and automation spaces. Below, we'll take a closer look at three companies that may not be on the retail investor's list but which have the potential to be major players in automation as the industry continues to grow.
