Two new research reports from Boston Consulting Group (BCG) and Tractica predict that the robotics industry is growing at a faster pace than previously predicted.
BCG forecasts an $87 billion market by 2025, with much of the growth driven by the consumer sector. Robotic solutions that augment and empower humans in high-touch sectors such as healthcare are driving much of the startup activity.
Tractica envisions a much larger market – $237 billion by 2022 – that includes the AI elements of the emerging autonomous vehicle and other segments. While we certainly disagree that Silicon Valley is the hotbed for robotics and AI – Massachusetts has long held a leadership position in both – we do agree that non-industrial robotics offerings are growing at a fast pace and driving much of the innovation in the robotics sector.