Saturday, January 16, 2021
Home Lead Story Worldwide Spending on Drones, Robotics System to Reach Approx $128.7 Billion This...

Worldwide Spending on Drones, Robotics System to Reach Approx $128.7 Billion This Year

The resource industry will move ahead of both construction and discrete manufacturing to become the second largest industry for drone spending in 2021

Worldwide spending on robotics systems and drones will be $128.7 billion in 2020, an increase of 17.1 per cent over 2019, according to a new report from International Data Corporation (IDC).

By 2023, this spending will reach $241.4 billion with a (CAGR) of 19.8 per cent, said the IDC “Worldwide Robotics and Drones Spending Guide”.

Robotics systems will be the larger of the 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 per cent CAGR than 17.8 per cent CAGR of robotics systems.

“Software developments are among the most important trends currently shaping the robotics industry. Solution providers are progressively integrating additional software-based, often cloud-based, functionalities into robotics systems,” Remy Glaisner, Research Director at IDC’s Worldwide Robotics: Commercial Service Robots.

Discrete manufacturing will be responsible for nearly 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 fastest growth in robotics spending over the 2019-2023 forecast are wholesale, retail and construction.

Spending on drones will also be dominated by hardware purchases with more than 90 per cent of the category total going toward consumer drones, after-market sensors and service drones in 2020.

Drone software spending will primarily go to command and control applications and drone-specific applications while services spending will be led by education and training. Consumer spending on drones will total $6.5 billion in 2020 and will represent nearly 40 per cent of the worldwide total throughout the forecast.

Drones
Worldwide spending on robotics systems and drones will be $128.7 billion in 2020, an increase of 17.1 per cent over 2019, according to a new report from International Data Corporation (IDC). Pixabay

Industry spending on drones will be led by utilities ($1.9 billion), construction ($1.4 billion) and the discrete manufacturing and resource industries ($1.2 billion each), IDC said.

The resource industry will move ahead of both construction and discrete manufacturing to become the second largest industry for drone spending in 2021, according to the forecast.

ALSO READ: Xiaomi, Huawei to Use Samsung’s Foldable Panels

The fastest growth in drone spending over the five-year forecast period will come from the federal/central government, education and state/local government, said the report. (IANS)

STAY CONNECTED

19,120FansLike
362FollowersFollow
1,773FollowersFollow

Most Popular

Study: Lack Of Managers Leads To Business Failures In India

Most firms in India and other developing countries are family-owned and often shun outside managers and that is why even successful businesses fail to...

Clovia: The Ayurvedic Solutions For Personal Care

A new solution-based personal care range, 'Clovia Botaniqa', was launched, especially for mothers. The products are based on Ayurvedic formulation comprising of oils, body...

Bursting The Myth: Violent Video Games May Increase Violent Behavior

A plethora of theories has been proposed to support the stance that playing violent video games results in increased aggression and violence. However, researchers...

Home Remedies To Deal With Different Stomach Aches

Stomach ache or abdominal pain can be cramped, achy, dull, sharp, or intermittent. The common causes of stomach ache include constipation, diarrhea, acid reflux,...

Metformin: An Ease For Covid Patients With Diabetes

Use of the diabetes drug metformin -- before a diagnosis of Covid-19 -- is associated with a threefold decrease in mortality in Covid-19 patients...

83 Percent Of Single Indians Are Comfortable Meeting Up In-Person

Virtual dating is the new norm in India, but real-life connections will pick pace post-pandemic, reiterates Bumble's recent nationwide survey. After connecting with people...

Discrimination causes Anxiety and Mental Disorders, Says Study

Regardless of genetic risks, exposure to discrimination in life plays a significant role in developing anxiety and related disorders, suggests a new study. Published in...

As Cimate Change Impact Intensifies, Nations Must Urgently Step Up Actions or Face Costs: UNEP

As temperatures rise and climate change impacts intensify, nations must urgently step up action to adapt to the new climate reality or face serious...

Recent Comments