While robots in the past were used mostly in industrial applications, robotics are now being employed for security, health care, aerospace, food and beverage uses, and education. Amid these advances, market research analysts have forecast the robotics market will expand to $214.7 billion by 2030, growing at a compound annual growth rate (CAGR) of almost 23%. With such an increasing investment opportunity, robot and automation stocks, as represented by the ROBO Global Robotics and Automation Index ETF (ROBO), an exchange-traded fund (ETF), have outperformed the broader market.