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We frequently put robotics and artificial intelligence together, but they are two separate fields. The robotics and artificial intelligence industries are some of the largest markets in the tech space today. Almost every industry in the world is adopting these technologies to boost growth and increase customer engagement.

According to reports, the global robotics market is expected to grow up to US$158.21 billion, between the period 2018 to 2025, at a CAGR of 19.11%. This growth is connected to the increasing adoption of artificial intelligence and robotics technology. Between 2020 to 2025, the market will grow at a CAGR of 25.38%.

During the pandemic, the demand for robotics technology has increased drastically. The medical field is deploying surgical robots to fight against Covid-19. Robots are helping healthcare professionals and patients by delivering food and medications, measuring the vitals, and aiding social distancing.

The automation industry is also using robotics technology to drive growth and transformation. Other industries like food, defense, manufacturing, retail, and others are also deploying robotics.

According to the reports, the global AI market is expected to grow from US$58.3 billion in 2021 to US$309.6 billion by 2026. Among the many factors that will drive the growth in the artificial intelligence market, the Covid-19 pandemic is the chief reason.

The pandemic has encouraged new applications and technological advancements in the market. Industries like healthcare, food, and manufacturing are increasingly adopting AI technologies to promote efficiency in business operations. Big tech companies like Microsoft, IBM, and Google are deploying AI to facilitate drug development, remote communication between patients and healthcare providers, and other services. AI-powered machines are also helping educators to track students performances, bridging the gaps in teaching techniques, and automating laborious administrative tasks.

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How to Invest in Robotics and Artificial Intelligence - Analytics Insight