2. Data and statistics 18 Cobots forecast to rise sharply in the next five years (see Figure 6). A substantial acceleration in sales will occur in cobots. Figure 6: Service robots for personal/domestic use. Unit Loup Ventures estimates that the numbers shipped will sales 2016 and 2017, forecast 2018 and 2019-2021 increase from 8,950 in 2016 to 434,404 in 2025 at a compound annual growth rate (CAGR) of 61.2%; a total 12 value of around US$9 billion (Murphy, 2017). Other reports predict similar growth; MarketsAndMarkets.com 10 (2018) estimates a market worth US$12 billion by 2025 and a growth rate of 50% CAGR. BIS Research predicts the market’s value to be US$5.5 billion by 2023 its8 with a CAGR of 64% while Jürgen von Hollen, president un of Universal Robots, expects market growth of between on6 e i 50-70% over the next five years (Demaitre, 2018) . ill Whilst cobots currently account for only 3% of the total m 4 robotics market, this figure is expected to reach 34% by 2025 (Smith, 2018). 2 Service robots 0 The IFR predicts that the market for service robots will 2016 2017 *2018 *2019-2021 grow by a 21% CAGR over the next three years (see Household robots Entertainment and leisure robots Figure 5). Figure 5: Service robots for professional use. Unit sales Source: IFR World Robotics, 2018 2016 and 2017, forecast 2018 and 2019-2021 45 40 35 tsi30 un 25 20 '00015 10 5 0 2016 2017 *2018 *2019-2021 Source: IFR World Robotics, 2018 The IFR also examines robots for personal/domestic use separately, as their unit value is generally only a fraction of many types of service robots for professional use, particularly medical robots (IFR, 2018a). Even so, the use of household and entertainment robots is e The difference in estimates are due to varying baseline figures, economic assumptions and methodologies employed. Taking control: robots and risk