13 Best Robotics Stocks To Buy Now

Aima Zaheer
9 min read

In This Article:

In this article, we discuss the 13 best robotics stocks to buy now. If you want to skip our discussion on the robotics industry, you can go directly to the 5 Best Robotics Stocks To Buy Now.

According to Precedence Research, the size of the robotics industry stood at $72.2 billion at the end of 2022. The industry is predicted to expand at a compound annual growth rate (CAGR) of 14.7% from 2022 to 2032 to reach a size of $283.2 billion. Based on the product type of robots, traditional industrial robots dominate the market with a 52% market share in 2022. Meanwhile, collaborative robots or cobots are the fastest-growing product segment as they are designed to help people perform their tasks with a better level of precision and sophistication. In terms of components, the hardware segment accounts for 72% of the market share. The remaining 28% of the market share is captured by software and services segments. When it comes to specific industry applications, manufacturing takes the lead, accounting for a substantial 68% of the market's top-line share. In terms of geography, the Asia Pacific region generates the most revenue, with a share of 46% in 2022. Within the Asia Pacific region, China leads as it has a track record of being responsible for 50% of all global installations taking place in the region over the years.

Robotics Industry's Growth Prospects

According to the International Federation of Robotics, unit sales of industrial robots compounded at an average annual rate of 7% from 2017 to 2022. Meanwhile, annual unit sales of robots increased by 5% YoY to reach 553,032 in 2022. Overall, in the manufacturing industry, the global density of robots stood at 151 robots per 10,000 employees, and the stock of industrial robots stood at 3.91 million. The IFR anticipates a 7% annual average growth rate in the next three years, which would result in annual installations of 718,000 units by 2026. One of the reasons for the strong demand for industrial robots is significant investments in car manufacturing facilities and the overall modernization of industrial facilities across various sectors. You can also check out the Top 10 Industrial Robotics Companies in the World here, which play pivotal roles in this dynamic industry.

According to Mordor Intelligence, there is a strong demand for industrial robots in the healthcare sector as well. As per the National Institute for Occupational Safety and Health (NIOSH), the most hazardous jobs in the US are performed by employees in the healthcare sector, exposing workers to the highest rates of on-the-job illnesses and non-fatal injuries. According to estimates, there are already 6,000 robots worldwide that are performing one million surgeries annually. Another sector that is a strong end-market for the robotics industry is the building maintenance industry. As per the US Bureau of Labor, there are 2.38 million janitors and cleaners employed across the US, and companies spend around $60 billion annually on these services. This amount does not include the insurance payouts, which are substantial as well due to the risky nature of the job. The heightened risk factor is one of the primary reasons for a stronger demand for cleaning robots. Cleaning robots have already made significant headways in the consumer segment. Around 19 million robots that performed domestic tasks were sold during 2022, marking an impressive year-over-year (YoY) increase of 12% in the largest consumer robot category.

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