Signal Canadian service robot market valued at $1.12 billion in 2024

Summary

This signal gives a market measure of robots spreading beyond industry. In 2024, the Canadian service robot market was valued at US$1.12 billion, while the market for industrial robots was only US$137.7 million, making service robots more than eight times larger. Service robots perform tasks for people, as opposed to producing industrial or agricultural goods, and the same robotic arm can fall into either group depending on its job. The report attributes their growth to advances in computer vision and machine learning that let robots sense and adapt to their surroundings. Logistics is the main driver of demand, and falling prices are making such machines more competitive with human labour.