Top robotics stocks in the U.S. stock market 2023. An in-depth look at the top robotics stocks in the U.S. stock market this year.
Robots have captivated our imagination since the invention of modern robotics in the 1950s. The idea of lifelike machines performing human tasks is intriguing for some & an uneasy thought for others.
But, like all technology, robotics isn’t about replacing humans. Rather, robots can automate basic tasks to free up our time for more meaningful activities. Breakthroughs in recent years have spurred the adoption of automation processes within organizations & some estimates point to an acceleration in the global adoption of robotics. Worldwide spending could double from 2020 to 2025 & reach nearly $210 billion. Investing in robotics company stocks could therefore be a lucrative move in the years ahead.
Investing in top robotics stocks in 2023
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We already benefit from robotic processes every day. E-commerce companies such as Amazon (NASDAQ:AMZN) & Shopify (NYSE:SHOP) automate tasks in fulfillment warehouses using intelligent machines, smart speakers in our homes play music & inform us of our daily schedule on command, & chatbots help us find the information we need on websites. Other robot applications are a little less visible.
Semiconductors are the basic building blocks of all technology. Nvidia has risen to become a leader in this area & its advanced circuitry designs are enabling all sorts of high-end computing processes robots included.
For a complex system such as a robot, fast computing time is a necessity. Complete with artificial intelligence (AI) & machine learning software, Jetson devices are being put to use in use cases spanning industrial & manufacturing machinery, healthcare devices, & self-driving vehicles.
With its advanced capabilities on the hardware & software front, Nvidia is a top player in robotics as it helps its customers unlock the power of AI.
2. Intuitive Surgical
Intuitive Surgical is a pioneer of robotic-assisted surgery. Its da Vinci system made its commercial debut in 2000 & has since expanded across the globe. Intuitive Surgical’s robots help surgeons & their teams to execute more precise & procedures patient outcomes & recovery times are greatly improved as a result.
More than two decades later, Intuitive Surgical is still in growth mode. The vast majority of surgeries performed every day are done without robotic assistance, so there’s no shortage of opportunities to develop new da Vinci capabilities & new machines to address more procedures. once one of Intuitive’s systems is installed, the business model generates ongoing revenue from disposable instrument sales, services, & support.
This applied use of robotics technology & an ongoing revenue stream once a da Vinci robot is installed make Intuitive Surgical one of the best long-term bets in healthcare technology.
3. Rockwell Automation
Rockwell Automation is a leader in industrial-grade technology. Its systems, components, & software help manufacturers develop smarter & more efficient machines. Rockwell’s services & equipment address a wide swath of the economy, from energy & chemical producers to food & beverage companies to automakers.
The industries that Rockwell helps have been around for a long time & aren’t secular growth stories anymore. However, as a leader in highly profitable robotics & related IT services, Rockwell has increased its profitability (as measured by free cash flow) at a steady pace over the past decade. As its manufacturing partners look for new ways to increase productivity, Rockwell could continue to benefit — & reward shareholders with a rising dividend & share repurchases.
4. Zebra Technologies
Zebra Technologies is a longtime player in the automation space. The firm develops mobile computing devices to help employees of a company work more efficiently. From retail & warehousing to healthcare to banking, Zebra’s robotic-enhanced computers help workers organize & automate their workflow.
The company makes a wide array of products. Custom handhelds designed for the workplace deliver pertinent data, barcode scanners equipped with machine vision & AI help automate work processes, & interactive kiosks help streamline customer experiences. Although Zebra has been around for many years, it has been an enduring growth story. Sales & profitability continue to run higher as the company’s partners in many sectors of the economy turn to Zebra for robotics-powered solutions for their workforce.
Not all robots are real-life machines. Many of them dwell in the virtual world where they execute tasks on computers & within cloud computing systems. A leader in robotic process automation (RPA), UiPath builds & supports software bots that can be trained to handle virtual tasks & act as virtual assistants to the human workforce.
Although they may not be physical machines, UiPath’s robots are incredibly efficient when set loose on typical office tasks such as data collection & form entry, compliance, & customer relationship management. UiPath cites a study from researcher McKinsey that says some 60% of manufacturing activities, 43% of financial services & banking processes, & 36% of healthcare tasks can be automated with software.
UiPath is at the forefront of automation with its virtual bots. Some might fear that RPA could replace jobs, but with many organizations grappling with employee shortages in the the pandemic. This software firm is a top play on applied robotics. Top robotics stocks in the U.S. stock market 2023
Teradyne is a developer of industrial equipment that helps automate repetitive tasks. In the manufacturing of electronic devices, testing the products to make sure they work right is one of the most repetitive & time-intensive tasks. Teradyne’s robotics help free people from this activity, speed up testing- verification time, & increase the accuracy of device testing before a product is delivered.
This robotics firm is a top partner of semiconductor, automotive, and aerospace, and defense companies. Although it’s a behind-the-scenes play on automation, all sorts of everyday devices, mission-critical machinery & tech services (such as 5G mobile networks) benefit from Teradyne’s work. The company is constantly improving its robotic equipment and is a top name in industrial automation technology.
PTC is another firm operating out of the general public’s view. The company has developed an augmented reality and industrial Internet of Things platform, as well as computer-aided design software that integrates with equipment to help manufacturers get more efficient & access the power of the digital economy.
PTC itself doesn’t design robots, but its software products help connect and coordinate machines and people within an organization. This technology helps customers unlock the full potential of robotics, extending the capabilities of humans working on the job, & freeing up their time to handle more complex activities. Addressing a wide range of manufacturing & production throughout the economy, PTC deserves a spot for those building a robotics investment portfolio.
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