Machines replacing humans
Robotics is a field of engineering and science that deals with design, construction, operation, and use of robots. Robots can best be defined as machines that can carry out a variety of tasks autonomously, semi-autonomously, or under human supervision, often in place of humans in repetitive or dangerous work environments.
Rapid advances in technology
The market for robotics has grown rapidly in recent years due to advances in technology, increased adoption by companies and industries, and growing demand for automation. As a result, the global robotics market size was valued at $77 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of ~10% from 2021 to 2026. The primary drivers of this growth is believed to be increased adoption of robotics in manufacturing, healthcare, and logistics in particular.
The most well known robotics companies
Boston Dynamics, which designs and manufactures highly advanced robots that can perform various tasks autonomously, is probably the most well-known robotics company in the world. Its robots, including Spot and Atlas, are among other areas used for research and development, industrial inspection, and military applications.
Another priment company within robotics is ABB Robotics, a leading supplier of industrial robots and robotic automation systems. This can for instance be of use for consumer goods manufacturing.
Also worth mentioning is the global leader within medical robotics, Intuitive Surgical, which develops and manufactures surgical robots used in minimally invasive surgeries. Its robots, such as the da Vinci Surgical System, allow surgeons to perform complex procedures with greater precision and control, resulting in faster recovery times and reduced complications for patients.