Global spending on robots and drones grows 17.1 per cent this year to $128.7 billion. in China, the market is largest; $46.9 billion is expected to be spent there.
So predicts data consultancy IDC in its Worldwide Robotics and Drones Spending Guide. IDC expects the market to continue growing by almost 20 per cent annually, to reach $241 billion by 2023. Besides China, Asia (excluding Japan and China) is the largest market for robotics and drones at $24.1 billion. The United States accounts for $17.5 billion and Western Europe for $14.4 billion.
The market for robotics ($112 billion by 2020) outstrips the market for drones ($16.3 billion), although the latter is on the rise. Spending on the unmanned aircraft will increase by 33.3 per cent annually, according to IDC.
The bulk of spending on robotics and drones (60 per cent) is on hardware, although the consultancy expects spending on software and service to grow faster in the coming years.
