The days of robots being primarily limited to manufacturing applications are long gone—the industry is expanding rapidly and becoming integrated into many different sectors thanks to rapid developments in AI and automation. Analysts expect this to lead to major growth for the industry in the years to come, with an anticipated CAGR of more than 15% in the coming seven years to reach a size of nearly $170 billion globally by 2032.
As with AI and other fast-changing technology spaces, robotics is home to both more established firms that are venturing into the space—Japanese conglomerate Mitsubishi and even major tech firms like NVIDIA Corp. (NASDAQ: NVDA) are linked with the robotics industry, for example—as well as smaller specialized companies. As the robotics landscape shifts, it's likely that some of these smaller names may emerge as increasingly important players.
