Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Twin Cities
Tampa Bay news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa Bay
Charlotte news in your inbox
Catch up on the most important stories affecting your hometown with Axios Charlotte
Robot sales are surging in North America, with automotive and other companies snapping them up at a record pace for a second straight year. According to industry figures, robotics companies made $516 million in sales in the first quarter, up by about 28% over the same period in 2016.
Between the lines: The report follows a record 2016 for robotics sales, and consensus forecasts of continued double-digit revenue increases for the industry for the next five years. This gives a hard foundation to projections of a vast robotization of industry and job categories over the coming years, with the potential for a massive impact on employment.
Industry growth appears to be accelerating. Robotics companies racked up a record of $1.9 billion in sales last year, which was 10% higher than the previous year, according to the Robotics Industries Association, which tracks private and publicly traded companies. With the record sales of 9,773 robots in the first quarter of the year, North American companies now have about 250,000 robots at work, the group said.
Frank Tobe, who edits The Robot Report, a trade publication, said the consensus forecast is for most segments of the robotics industry to grow at double digits for at least the next five years.