According to a report from Interact Analysis, the value of the industrial robot market reached $11.8 billion in 2021. The market is expected to grow to $20 billion by 2026. The growth of robot shipments saw a year-over-year increase of 30% in 2021. The growth comes after two years of contraction in the robot market.

Pre-pandemic, the industrial robot sector was considered relatively mature, enjoying moderate, stable growth, but COVID and the extended labor shortages that followed have caused an increased enthusiasm for manufacturing automation which has turbo-charged the robot industry. Additionally, many manufacturing companies are investing in automation as a form of future-proofing to prepare for future emergencies.