Increased robotics utilization among manufacturers and end-users will generate greater financing opportunities as robotics continue to change how business is conducted in the future, according to a new study, Robots, Cobots, and Finance, released today by the Equipment Leasing & Finance Foundation.

The study, commissioned by the foundation and prepared by The Alta Group, reveals the key elements affecting future financing for robots are their level and autonomy, with autonomous robots creating the largest financing opportunities. Worldwide purchases of robotics are predicted by the research firm IDC to rise at a compound annual growth rate of 22.8 percent and reach total spending of $230.7 billion in 2021.

The study features a wide-ranging examination of the challenges and growth potential of robots and collaborative robots (cobots), and the financing risks for credit, residuals, legal, regulations and accounting. It also provides in-depth analysis of the current and future state of robotics in key equipment finance industry segments of agriculture, healthcare, industrial manufacturing, materials handling and transportation, as well as an “other” category that includes exoskeletons, nanobots, military applications and robotic process automation. 

“This study indicates that robotics offers opportunities for those willing to get ahead of it,” said Thomas Ware, Foundation Research Committee Chair and Senior Vice President, Analytics and Product Development, PayNet, Inc. “As with other Foundation studies, it also provides critical intelligence necessary for business decision-making in this dynamic growth sector.”

Download the full study here.