The Tokyo Olympics 2020 saw the massive implementation of robotics among other advanced technologies that made the games more interactive, innovative, and immersive for everyone.
From driverless vehicles to robot assistance and language translators, robots were a major attraction in the wake of COVID-19 and brought down the boundaries of culture and language barriers. Not just Olympics, but several other industry arenas are witnessing modernization with increased utilization of robots in day-to-day operations and processes.
The global wearable robotic exoskeleton industry analysis by BIS Research projects the market to have a significant growth rate of 32.68% based on the value and a growth rate of 34.01% based on volume during the forecast period 2021-2031.
Based on BIS analysis, the global market for Robo taxis' is predicted to grow at a whopping CAGR of 140.04% over the forecast period of 2020-2025. The report focuses on product types, applications, etc. for the forecast period between 2021-2031.
Take a look at some of the latest industry highlights!
Investment Activities
Seoul Robotics has been selected as an ‘Innovative Icon’ startup to receive a $12M investment from the Korean government. [source]
Path Robotics has raised $100 million, led by Tiger Global and featuring participation from Silicon Valley Bank. The deal brings the robotic welding firm’s total funding to $171 million. [source]
Northern robotics consortium gets £22.6M investment from Government’s £127M Strength in Places Fund. [source]
New Product Launches
After smartphones, televisions, air purifiers, and vacuum cleaners, Chinese phone giant Xiaomi’s newest open-source project product is a dog — a robotic dog. [source]
Alphabet Inc's research unit announced that it will launch Intrinsic, its new robotics software, and artificial intelligence project, under the Google parent's segment that houses futuristic businesses such as Verily and Waymo. [source]
Sarcos Robotics and T-Mobile team up to integrate 5G into Guardian® XT™ Robot. [source]
Government Regulation Updates
The Federal Aviation Administration is letting commercial drone-maker American Robotics operate drones without on-site pilots — but with a number of caveats, according to a decision recently posted on the agency’s website. [source]
Related Technologies
On the basis of region, Asia-Pacific is expected to grow at the highest CAGR in the global intelligent soft robotics market during the forecast period of 2019-2024. Countries such as China, Japan, and South Korea are rapidly adopting intelligent soft robotics to cater to their huge customer base. [source]
Please feel free to reach out at ahmad.shaquib@bisresearch.com in case of any doubt or query.
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