In this article, we are going to list the 15 biggest robotics companies in the world. Click to skip ahead and jump to the 5 biggest robotics companies in the world. Today, robots are becoming more powerful and faster in computing and processing command and applications which are powered by artificial intelligence and machine learning. A robot is defined as a programmable mechanical device that can perform tasks and interact with its environment, without the aid of human interaction.
Robots are programmed to perform the jobs humans won’t do – the most boring, most dangerous, and the dirtiest jobs you can think of. Robots indeed impact our lives as some are designed and built to do tasks that are too complex for us humans. Yet people are scared because these robots will replace their jobs? Normal feeling but still we’re the ones to bring them to life and we’ll sure be the one to end it for them in case it gets uncontrollable.
There’s a wide variety of robots and I might bore you out talking about them here but there are 6 types of robots I can share with you: industrial, domestic, military, medical, service, and security robots. Industrial robots are automated machines working in the manufacturing sector and they can perform welding, assembly, and painting. Next, we have your favorite sophisticated dust eater a.k.a your robotic vacuum is called a domestic robot. On the other hand, we have military robots who can perform military tasks that are too risky for humans such as bomb disposal. Military robots are also programmed to do rescue and search. FLIR Systems (NASDAQ: FLIR) is a tech company that develops programs that enhances imaging and threat detection. FLIR produces combat-ready robots that help bomb techs and SWAT operators in responding to daily missions. Next, we have medical robots like Mako by Stryker (NYSE: SYK), a tech-centered company listed as one of the 15 biggest medical devices companies in the world. Mako allows surgeons to have a more predictable surgical experience when performing joint replacement surgery. On the other hand, we have service or concierge robots mostly seen in the hospitality industry. One of the biggest tech giants in the world, IBM (NYSE: IBM), developed a robot concierge named Connie for Hilton Mclean. Lastly, security robots are roaming at some malls, power plants, chemical storage facilities, and even residential developments. Aside from being able to provide surveillance 24/7, security robots are programmed to perceive adverse weather conditions and even gas leaks!
In 2020, the global robotics market was valued at $76.6 billion and is projected to reach $176.8 billion in 2025 with a compound annual growth rate of approximately 18.2%. The automotive industry is one of the key drivers for the demand for robots specifically in the industrial sector. Robots are really no strangers to the automotive industry, as they are one of the most highly automated supply chains in the world. General Motors (NYSE: GM) was a pioneer in the use of robotic systems in the car manufacturing sector back in 1961. GM is one of the 12 autonomous vehicle stocks to buy for 2021.
The outbreak of COVID-19 has become a global stress test. In general, the robotics industry experienced a slowdown in production in 2019 and 2020 due to certain industries halting their operations during quarantine such as automotive, metal, and machinery. This is due to the implemented lockdowns by the government to stop the spread of the virus globally. The good news is, many hospitals are already deploying robots to help fight COVID-19 not only in the US but also in Italy, Tunisia, and India. In March 2020, China opened a hospital staffed by robots in the epicenter of coronavirus, Wuhan.
Indeed, robotics have made our lives easier and help us in fighting the pandemic we are into today. To give you the most accurate list of the biggest robotics companies, we looked up the latest annual financial statement of these robotics companies and researched the revenue, market cap, assets, and the number of employees each company has in our list and ranked them from the smallest to largest values. Let’s take a look at the biggest robotics companies in the world starting at number 15:
15. iRobot (NASDAQ: IRBT)
Revenue: $1.3 billion
Market Cap: $2.23 billion
Number of employees: 528
Headquarters: Bedford, Massachusetts
iRobot Corporation is specializing in designing and production of consumer robot. The company’s portfolio of robotics solutions includes various innovations for smart homes and various concepts in visualization, navigation, mobility, and artificial intelligence.