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3 Global Robotics Stocks To Consider As Market Grows At Annual Rate Of 14.7%

Published 09/01/2024, 14:32
Updated 09/01/2024, 15:40
© Reuters.  3 Global Robotics Stocks To Consider As Market Grows At Annual Rate Of 14.7%

Benzinga - by Surbhi Jain, .

The world of robotics is undergoing a seismic transformation, penetrating diverse sectors and revolutionizing industries at an unprecedented pace. Fueled by significant advancements in artificial intelligence (AI) and machine learning, the once-futuristic realm of robots is swiftly becoming a reality.

The global robotics technology market size is expected to grow at a CAGR of 14.7% from 2023 to 2032, according to a Precedence Research forecast. The market is set to reach a $283.19 billion in 10 years.

AI Plays A Pivotal Role

Industrials, Healthcare and Agriculture Poised To Grow

Industrial robots are also becoming more affordable. ARK Invest reveals a 50% cost reduction over the past decade, with a further projected decline of 50%-60% by 2025.

While manufacturing led in robot integration, healthcare and agriculture are increasingly adopting robotic technologies.

The surgical robots market is expected to grow at a CAGR of 9.5% by 2030. Automation and a scarcity of medical professionals are driving this expansion.

Agriculture is another area where automation emerges as a critical tool. McKinsey & Company reports that full automation could boost crop incomes by over $400 per acre yearly.

Stocks to Consider in Robotics and Automation

  • Intuitive Surgical Inc (NASDAQ:ISRG) specializes in robotic-assisted surgery. With an impressive 700% stock surge in the last decade, the company’s success mirrors the growing preference for robot-assisted surgical procedures. Anchored by cutting-edge technology, robust clinical evidence, and a solid market position, Intuitive Surgical’s dominance in the field remains unrivaled, reinforcing its standing as a leader in the realm of surgical robotics.

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  • Rockwell Automation Inc (NYSE:ROK) excels as a top provider of industrial automation solutions, witnessing robust revenue growth fueled by government support and the rapid expansion of the industrial automation market. Renowned for its industrial-grade technology, the company’s systems and software enable smarter and more efficient machinery for various sectors. With a stronghold in highly profitable robotics and IT services, Rockwell continues to boost profitability and free cash flow consistently.

  • Deere & Co (NYSE:DE), aka John Deere, is a heavyweight in heavy equipment production. The company expects to release a line of seven fully automated products including tractors, tillage equipment, and construction vehicles by 2030.
  • Global X Robotics & Artificial Intelligence ETFExchange Traded Concepts Trust ROBO Global Robotics and Automation Index ETFGlobal X Artificial Intelligence & Technology ETFiShares Robotics and Artificial Intelligence Multisector ETFFirst Trust Nasdaq ArtificialIntelligence and Robotics ETF

    The robotics industry’s explosive growth presents exciting opportunities. As the sector evolves, investors should vigilantly assess companies navigating these challenges while driving innovation across the landscape.

    Now Read: TK

    Image: Shutterstock

    © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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