Last Wednesday, Oct. 17, traders on the floor of the New York Stock Exchange (NYSE) were treated to a first-ever experience: A collaborative robot (cobot) rang the day's closing bell. The cobot was Universal Robots' UR5e with a two-finger gripper from Robotiq.
This particular ceremony celebrated the five-year anniversary of ROBO Global, the first-ever robotics, automation, and AI index. Having launched in October 2013, it currently invests into more than 80 companies across the globe, including 12 subsectors ranging from manufacturing to healthcare.
Despite the sudden departure of Rethink Robotics, which was one of the leaders in the cobot market, the cobot industry remains the fastest-growing sector of the industrial automation market. By 2025, the cobot market is expected to grow 34% in sales, according to the International Federation of Robotics.
The UR5e was used to ring the bell with the help of a gripper from Robotiq.
Universal Robots was the first to sell a commercially viable cobot in 2008. It still leads the market with more than 60% global share, and recently sold its 25,000th cobot. "We have long admired UR as a pioneer and global leader in the collaborative robotics market," said Travis Briggs, CEO of ROBO Global U.S. "Since acquiring UR in 2015, Teradyne has been a key growth driver in the ROBO Global Index. We are thrilled that Teradyne generously agreed to join the ROBO Global team for this one-of-a-kind NYSE bell ringing."