As the world marches towards an automated future, the best robotics stocks have emerged as a force to be reckoned with. These stocks have effectively captured the attention of forward-thinking investors seeking long-term growth opportunities.

The robotics sphere has been expanding at a rapid pace, with advancements in computing power and data handling capabilities facilitating mechatronic devices to perform tasks that were once deemed impossible. Moreover, industries such as healthcare, logistics, and automotive are experiencing significant disruption, making robotics stocks remarkably lucrative over the long term.

According to a report last year, the global robotics market is projected to grow at a staggering annualized rate of 22.8% over the next decade, reaching a whopping $214 billion by 2030. This growth is driven by robust demand for industrial robots and technological enhancements. Artificial intelligence has vastly improved human-robot interactions, with cutting-edge chips enabling seamless collaboration. The surge in heavy-duty robotics applications continues to fuel demand for these innovative machines. That said, let’s delve into the top seven needle-moving robotics stocks that present promising long-term growth opportunities at current prices.

Best Robotics Stocks: UiPath (PATH)

UiPath (NYSE:PATH) is a robotic process automation (RPA) specialist, developing and supporting software bots that can effectively handle virtual tasks. These bots assist human workers in streamlining workloads and boosting productivity. Moreover, with its cutting-edge technologies, organizations can effectively automate tasks, freeing up resources and eventually leading to massive cost reductions.

UiPath has been growing sales rapidly, with triple-digit net retention rates. In the past eight consecutive quarters, the firm has surpassed expectations on both lines. Moreover, it continues to grow its annual recurring revenues (ARR) each quarter, recently recording a 30% bump in its most recent quarter. As it maintains stable revenue growth over the next few years, it can finally break even and reverse its stock’s negative trajectory.

iRyhthm Technologies (IRTC)

iRyhthm Technologies (NASDAQ:IRTC) is a medical device company known for its popular Zio heart rate monitor. Its advanced heart monitoring systems streamline the process of data collection and monitoring allowing healthcare professionals to make more effective decisions.

The firm’s single-use heart monitor helps detect abnormalities in heart rate patterns. iRhythm claims its devices can effectively increase early detection, which means patients will experience lower rates of heart failures, strokes, and hospitalizations. Its core market has a 20% penetration of roughly five million patients.

The company has gained excellent traction with its target market, growing its revenue base by roughly 35% over the past five years. Additionally, it boasts a gross margin of 71.8% during the same period, significantly ahead of the sector median. As we advance, the firm expects 69% to 70% gross margins this year.

Nvidia (NVDA)

Nvidia’s (NASDAQ:NVDA) robust graphics processing units (GPU) have effectively revolutionized multiple industries, including robotics. Rapid computation is crucial for a sophisticated system like a robot, and Nvidia’s GPUs effectively meet this need.

Nvidia’s Jetson computing platforms are tailor-made for artificial intelligence (AI) and robotics applications. Its role in robotics is to provide the necessary computing power for AI and machine learning algorithms, enabling robots to perform complicated tasks. Through Jetson’s capabilities, robotics developers can build smarter and more autonomous machines that can effectively adapt to various environments.

Furthermore, as the robotics industry moves from strength to strength, Nvidia’s Jetson platform and other initiatives could add another layer to its illustrious growth story.

iRobot (IRBT)

iRobot (NASDAQ:IRBT) started as a military equipment producer, including robots for defusing bombs. Nowadays, it’s popular for its robotic cleaning devices, mainly the Roomba vacuum cleaners and Braava floor mops. It has sold millions of its home-cleaning devices, which experienced a particularly significant spike in interest during the pandemic. In recent quarters, though, growth rates have normalized, significantly weighing its stock price. However, Amazon’s acquisition bid for the company could be a major catalyst for its stock price moving forward.

Amazon is looking to acquire the business for $61 a share, which is more than 40% higher than its current stock price. Also, if the deal falls through, iRobot could be picked up by another major company as the industry consolidates.

Intuitive Surgical (ISRG)

California-based Intuitive Surgical (NASDAQ:ISRG) is a leader in developing robotic surgical procedures, covering minimally invasive to major surgeries. Perhaps the most popular product is the da Vinci surgical system, used for repairing heart valves, gynecologic procedures, and prostate surgeries. These devices can cost upward of $2 million with a sticky user base. Intuitive’s installed base was at 7,544 systems at the end of December last year, a 12% bump from 6,730 at the end of the fourth quarter of 2021.

Another fascinating product in its portfolio is Ion Endoluminal System, a robotic-assisted platform that provides minimally invasive biopsies in the lungs. Overall, the company’s products have demonstrated greater accuracy and precision in delivering robust outcomes.

ABB Ltd. (ABB)

AI pure-play ABB Ltd. (NYSE:ABB) provided its customers with various industrial automation solutions. Its solutions include algorithms, robotics, computer visions, and others to help reduce downtime and smoothen out production processes. The economic slowdown has severely impacted its recent results. However, better access to components, effective pricing execution, and volume release from its backlog resulted in better sales growth. Over the long term, ABB aims to deliver EBITDA margins of 15% regardless of the market conditions.

Besides, its robotics and discrete automation segment grew over 20% in its most recent quarter and has been a bright spot over the past several quarters. It recently invested $20 million in expanding its robotics factory in the U.S. to cater to the increased demand for automation for U.S. businesses.

Teradyne (TER)

Teradyne (NASDAQ:TER) is a renowned developer of industrial equipment that focuses on automating repetitive tasks. Its robotics technology has essentially freed up human resources from the activity. Its products have effectively sped up the testing and verification process while enhancing the precision of device testing.

The firm is a major benefactor of the arms race for semiconductors, which are critical components across various domains, including computers, automotive, defense, and gaming. Semiconductor demand will remain robust for the next decade, providing a stable revenue source for the company. Automated testing could be a vital element in the semiconductor sphere, and the complexity of testing gives it massive pricing power. Moreover, with its strong profitability profile, expect the firm to continue growing and rewarding its shareholders as it has in the past through buybacks and dividends.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.