Internet of things News
There Is 'Money Chasing Solutions' In AI, Robotics And IoT As Market Revenue Forecasts Grow By Billions
The global market for robotics and automation is growing even faster than we thought.
That's the takeaway from CRNtv's conversation with Partner and Managing Director at Boston Consulting Group, Vladimir Lukic, about the recent trends in AI, IoT and robotics, as well as how these technologies provide opportunities for technology integrators in the channel.
"As we think about big market trends, I would say the biggest ones are around the improvements of the technology itself. It is now easier to use and easier to integrate. It is simpler, but with much more functionality, higher fidelities, dexterities, etc.," said Lukic.
With technologies become more functional and the overall price for solutions dropping, Lukic sees big growth in the industry. "Over the last 12 months there has been over $2.5 billion worth of investments in the space," said Lukic. "There is money chasing solutions."
He said that as solutions get developed, it will be important for companies to have someone to integrate them into the market. "This is going to be a fantastic opportunity for the integrators and the channels to claim that position and establish themselves," he said.
Lukic also said that in a recent report, Boston Consulting Group is projecting that by 2025 there will be over $87 billion spent on robotics applications and infrastructure. "If we unpack that a bit more for the commercial and the infrastructure space, which are the most relevant for the channel and the integrators, you’ll see that there is plenty of money to go around for those who focus and lean in."