Universal Robots, maker of cage-free, user-friendly collaborative robots (cobots), just announced 2017 revenue of USD 170 million -- a whopping 72 percent increase over 2016.
If you don't automate, your company won't survive.
Over the last few years, the move toward automation has driven rapid expansion in the industrial robotics sector at large, which in North America grew 21 percent in units sold between 2016 and 2017.
By focusing on flexible, application-agnostic automation, Denmark-based Universal Robots has smartly positioned itself to reap the windfall of the rush toward automation in industries as varied as fulfillment, light manufacturing, and food and beverage.
"We credit our 72 percent year-over-year revenue gain to a continuing awareness of the economic advantages of our market leading collaborative robots for a larger range of applications along with the continued commitment of our Universal Robots employees and partners to be the cobot technology of choice," said Jürgen von Hollen, President of Universal Robots, justifiably tooting his company's horn.
Collaborative robots should continue driving growth in automation in coming years, and von Hollen, calling his company's shot, is predicting a further 50 percent revenue spike in 2018.
Much of that growth will come as the market for automation expands globally, including in places like Turkey, Mexico, and China, where Universal Robots plans to open new offices.
The 470+ employee company currently has 22 offices in 15 countries.