Asia’s First Robotics Summit Comes to Singapore / Robotic and AI Infographicby Fintechnews Singapore March 8, 2017
The robotics market is undergoing a major transformation. Robots are growing beyond the industrial sector and beginning to assume the roles of personal assistants, surgical assistants, delivery vehicles, and autonomous vehicles, among many others.
Until now, industrial robots have accounted for more than 50% of overall robotics market revenue. But 2016 marked one of the critical turning points of this shift in the robotics market, as Tractica estimates that industrial robots is set to drop to 41% of total robotics revenue, with the remaining 59% coming from non-industrial robots.
Robotics is the interdisciplinary branch of engineering and science. Robotics deals with the design, construction, operation, and use of robots, as well as computer systems for their control, sensory feedback, and information processing. These technologies are used to develop machines that can substitute for humans in any situation and for any purpose.
Tractica predicts that autonomous vehicles will become the largest robotics category, which in the long run, is anticipated to overshadow all other sectors in terms of scale and impact.
Another key growth area is the consumer robotics sector, which includes toy and educational robots, personal assistant robots, and household cleaning robots.
According to a recent report by Zion Market Research, the global service robotics market was valued at around US$9.01 billion in 2016 and is expected to reach approximately US$24.10 billion in 2022.
The rise of robotics and AI (infographic)
a nice Infographic by PWC about the history and rise of robotics and AI.
Robotics is developing rapidly across the world and more and more organizations are investing in the area.
The Robotic Process Automation (RPA) Asia Summit, a first in the region, will take place on June 07 and 08, 2017 in Singapore and will feature cutting-edge discussions led by early and advanced RPA adopters. The aim is to help other organizations navigate the tricky terrain of adopting robots and ensure success for related projects.
The summit will also include pre-conference workshops on June 06, and post-conference workshops on June 09, 2017.
Speakers will include representatives from Dell Technologies, the Institute of Systems Science National University of Singapore, Singtel, and AIA, among many others. Fintechnews Readers can get 10% Discount with Code “FINTECH_10”. You can register here.
Featured image by Ociacia via Shutterstock.com.