Overview
The top robotics market is expected to grow from USD 76.6 billion in 2020 and is projected to reach USD 176.8 billion by 2025; it is expected to grow at a CAGR of 18.2% during the forecast period. Due to the anticipated shortage of skilled labor in manufacturing industries, increasing automation using industrial robots to counter the skill gap is one of the solutions adopted by companies. The main advantage of using service robots is the reduction in the cost of operation and high ROI.