According to market research firm Frost & Sullivan, AI in the healthcare and life sciences sector is projected to grow by 40% per year, to $8.5 billion in 2021.

Companion Robots

By now, Alexa and other home assistants have become commonplace, but mobile in-home robots are quickly upping the game. Buddy from Blue Frog Robotics operates on two wheels and uses sensors, cameras, and microphones to hear and speak with the whole family.

Buddy can help with the chores, play with the kids, and help manage and protect your home by connecting to other smart devices. Buddy’s ability to express joy, anger, sadness, and ever grumpiness makes it fit right in with the rest of the family. Other in-home robots like the Aeolus Bot may not be quite as cute as Buddy, but they can do a lot of the same tasks—and more, using arms and hands that can pick up, hold, and manipulate objects (think your vacuum cleaner!).

Ubtech’s Robotics Walker even walks on two legs, which opens the door to a whole new range of possibilities. And while having a robot dance around the house might not top your list of must-have innovations, it won’t be long before companion robots like this one will be able to tackle folding your laundry and even walk your robotic dog!

According to P&S Market Research, the global personal robots market is projected to grow more than 37% per year, to $34,120.3 million by 2022.

Perhaps what’s most fascinating about robotics today is that tomorrow’s growth is not limited to only the largest industry players. Far from it. In fact, many smaller companies are delivering some of the most exciting innovations. For investors, this means that seeking out well-researched companies across the entire robotics supply chain is key.

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Look for opportunities where you least expect them, and include innovators that span every technology, industry focus, size, and geography. In such a fast-moving environment, new market leaders are emerging every day.

That means that even when the stock market is down, there will be no shortage of robotics companies that remain poised for tremendous growth. It’s all a matter of meeting the never-slowing demand for robotics innovation. And regardless of the state of the stock market, our desire for better, faster, smarter robots seems to be insatiable.

This article has been republished with permission from ROBO Global.