Robotics is a rapidly growing field that has been gaining popularity recently. It is a megatrend that has the potential to revolutionise the way we live and work. Robotics refers to robots’ design, construction, operation, and use.
Robots are machines that can perform tasks autonomously or with minimal human intervention. They can be programmed to perform repetitive tasks with high precision and accuracy. Robots have been used in manufacturing for decades, but their applications are expanding rapidly into other areas such as healthcare, agriculture, logistics, and entertainment.
The robotics industry is expected to grow at an unprecedented rate over the next few years. According to a report by Markets and Markets™ Research Private Ltd., the global robotics market size is expected to reach USD 528.3 billion by 2025 from USD 135.9 billion in 2018 at a CAGR of 24.8% during the (2018-2023) period.
One of the key drivers behind this growth is advancements in technology, such as artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT). These technologies enable robots to learn from their environment and make decisions based on data analysis.
Another factor driving growth in robotics is the increasing demand for automation across various industries due to rising labour costs and a shortage of skilled workers.
The benefits of using robots are numerous – they increase efficiency, reduce errors, improve safety conditions for workers by taking over dangerous jobs like welding or handling hazardous materials, and enhance productivity levels while reducing operational costs significantly. In conclusion, Robotics represents one of the most significant technological advances today, which will continue shaping our future world beyond imagination!