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Qualcomm CEO predicts robotics as major opportunity in two years
Robotics is set to be a 'greater opportunity' for Qualcomm in the coming two years
Robotics is set to be a "greater opportunity" for Qualcomm in the coming two years, shared CEO Cristiano Amon with CNBC, as the chip company expands beyond smartphones.
Earlier this year, Qualcomm introduced a robotics processor branded as Dragonwing, aiming to develop a chipset compatible across various robotics platforms.
This strategy mirrors their approach in the smartphone arena, where Snapdragon processors are vital components for tech firms.
"I believe robotics will achieve scale within the next two years," Amon relayed to CNBC on Monday when queried about when robotics could become crucial for Qualcomm.
"I see it evolving into a significant opportunity in that timeframe," he noted during the conversation at the Mobile World Congress in Barcelona, Spain.
Robots come in different forms, including those for industrial tasks like robotic arms, and humanoid robots, the kind being developed by Tesla and a range of Chinese firms.
Numerous predictions exist regarding the future size of the robotics market. McKinsey estimates the general-purpose robot market could surge to $370 billion by 2040, and RBC Capital Markets analysts anticipate a global market for humanoid robots might reach $9 trillion by 2050.
Robots require processors and complex engineering for movement. The growing optimism around robotics is also due to advancements in AI models. These models empower robots to comprehend and interact with their surroundings. Frequently, robots fall under a term called physical AI.
"Some have suggested robotics alone could be a trillion-dollar market ... we are beginning to see that, thanks to physical AI, robots have become significantly more practical," Amon stated.
Jensen Huang, CEO of Nvidia, remarked last year that robotics stands as a vital potential growth area for the company.
Robotics is a crucial theme at Mobile World Congress, with a variety of robots showcased. Recently, Chinese smartphone manufacturer Honor hinted at its initial humanoid robot.