A look at Robotics Trends

Robotics is widely used in various industries and is used in performing a large number of applications and intricate tasks.

FREMONT, CA: The Robotics industry experienced a transformative year in 2021 in terms of development, adoption, funding, and M&A activity. All signs point to rapid Robotics growth over the next decade. Here are the key robotics trends to watch:

Investments in Robotics companies are on the rise: A variety of industries, including medical, manufacturing, logistics, hospitality, and automotive, continue to fund robotics innovations. Venture capital (VC), private equity (PE), and strategic investors are eager to capitalize on and steer the development of disruptive robotics technologies. Labor shortages and disrupted supply chains are also fueling immediate demand. By 2028, Fortune Business Insights forecasts the global industrial robots market to reach $31.13 billion, up from $14.61 billion in 2020.

Robotics Innovations Rely on Intellectual Property (IP): The robotics industry relies heavily on patents, trade secrets, and other intellectual property to fuel growth. IP protections that are robust encourage companies to invest in R&D and provide additional tools to help innovative companies stay competitive. In addition, robotics investors see IP exclusivity as a valuable asset since barriers to entry often translate into greater market share. As a result, companies are able to attract funding and increase their valuations. Likewise, IP protections are driving an uptick in industry partnerships, reducing the risk of sharing valuable technology and often allowing parties to utilize each other's exclusivity shields for background technology incorporated into joint ventures and collaborations. To differentiate themselves from the competition, smart robotics companies build strong patent portfolios. In addition to protecting "how it works" with utility patents, strategic companies are increasingly using design patents to protect the "look and feel" of robots and user interfaces.

In the workplace, cobots and assistive robots are taking center stage: A lot of companies dream of full automation, but the reality is that full automation can be prohibitively expensive, and robots cannot perform many tasks as well as humans at this point. Hence, innovative companies are seeking solutions that combine human and robotic capabilities.

Order fulfillment centers, for instance, equip warehouse workers with robotic exosuits to enhance their mobility. By stabilizing joints and offloading lifting and carrying motions, these assistive devices help prevent injuries and improve worker endurance. Wintergreen Research estimates that the exoskeleton wearable robots market will reach $5.2 billion by 2025, up from $130 million in 2018.

By replacing boring, dangerous, or dirty jobs with cobots (robots that work alongside humans), companies can improve efficiency and safety. Cobots that sort and package goods, for example, are easy to integrate into existing operations. In manufacturing settings, cobots are also leveraging advanced imaging and sensor systems for robust quality control inspections. Globally, the use of industrial robots in factories has nearly doubled in the past five years, and cobots are expected to account for 34 percent of all robot sales in North America by 2025.

Preventing hacking and mitigating liability: Due to the potential damage, disruption, and even bodily harm that can result from hackers taking control of robots, cybersecurity will remain a top concern for the robotics industry. As geopolitical tensions dominate current events, companies are even warier of state-sanctioned cybersecurity threats. The Stuxnet computer malware overspun Iran's nuclear centrifuges in 2010, causing them to tear apart. Terrorists, individuals, and even corporations may attempt to sabotage competitors through similar attacks. There are also questions of liability in this context, which are driving industry and government efforts to address emerging threats.