Operator: Good day, everyone, and welcome to today's Nauticus Robotics 2024 Q1 Earnings Call. At this time, all participants are in a listen-only mode.
Operator: Hello, and welcome to the Nauticus Robotics Earnings Conference Call for the Second Quarter ended June 30, 2023. My name is Maria, and I will be your operator today.
The onset of the Internet of Things (IoT) and cloud computing have provided companies with new technologies and avenues to improve their business processes.
The global robotics market was worth $27.73 billion in 2020 and is forecasted to reach $74.1 billion by 2026, indicating a CAGR of 17.45% during the period of 2021 to 2026.