Cobots Lead the Future of the Global Industrial Robots Market, Finds Frost & Sullivan
SANTA CLARA, Calif., April 21, 2021 /PRNewswire/ Frost & Sullivan s recent analysis finds that the
global industrial robotics market will reach revenues of
$38.3 billion in 2024 from
$22.2 billion in 2020 at a CAGR of 12.2%. Although the industry was curtailed by the COVID-19 pandemic and uncertainty in the automotive business, rising demand from other high-growth sectors is expected to propel it over the next five years.
Pharmaceuticals will be the fastest-growing segment, with a CAGR of 17.2% from 2019 to 2024, reaching $3.33 million by the end of the forecasted period, followed by
food & beverage (F&B) and
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