Robotics stocks are leading today’s tech frontier. There are very few areas where robotics will not create a huge impact, which is why projections indicate the market size will reach a value of approximately $43 billion by 2024.

From 2024 to 2028, this market is expected to expand at a compound annual growth rate (CAGR) of around 11.25%, with a projected market volume of nearly $66 billion. America will top the industry in 2024, with roughly $8 billion in sales, Statista forecasts.

Amid this market growth, we will explore three robotics stocks that Wall Street rates highly.

One well-known corporation exceeded profit estimates in Q1 2024, indicating strong growth amid economic headwinds. Another robotic-assisted surgery company is redefining medical procedures globally thanks to its outstanding financial success and cutting-edge surgical technologies. Finally, despite a stock price drop, a major supply chain automation provider uses AI to change warehouse operations.

Let’s explore these robotics stocks more!

Zebra Technologies (ZBRA)

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Zebra Technologies (NASDAQ:ZBRA), which makes RFID tags and barcode readers, has had a great quarter despite weak market demand. This makes it stand out among robotics companies. Analysts agree that its plans for automation and robots are bringing in more money, which is why the consensus rating on the stock is a “moderate buy.”

Experts expected Zebra Technologies’ first-quarter 2024 EPS to be $2.84, but it came in at $2.43, 17% higher. This was great after EPS fell to $0.31 and net income fell 90% to $17 million in Q4’23.

Quarterly sales were $1.18 billion, up from the expected $1.14 billion. This is a modest beat of 3% but still significant, considering North American companies ordered about a third fewer robots last year.

Moving forward, Zebra’s product portfolio is in a good position considering the latest generative AI capabilities it demonstrated at Google Cloud Next 2024. The new tech uses AI on portable devices to reduce frontline workers’ cognitive load, improving decision-making, onboarding and training.

What’s more, Zebra introduced powerful wearable computers, including the TC5Xe series and WT6400, to boost connected worker productivity at MODEX 2024. The devices support simple legacy systems to complex lines of business applications using AI and AR.

Intuitive Surgical (ISRG)

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With more than 10 million surgeries, Intuitive Surgical (NASDAQ:ISRG), through its da Vinci surgical equipment, is the industry leader in a market that will cross $18 billion by 2027.

2024 has started well for Intuitive Surgical, as seen by its first-quarter results that comfortably beat Wall Street estimates, undoubtedly contributing to its around 14% expected upside and “strong buy” rating.

The business announced sales of $1.89 billion, above projections of $1.87 billion, and profits per share of $1.50, beating the expected $1.41. A significant rise in the volume of operations carried out using their da Vinci surgical systems — which increased by around 16% annually — underpins its success.

On the product front, the FDA approved Intuitive Surgical’s da Vinci 5 robotic system. This new multiport robotic system, which expands its surgical innovations, will be accessible to a small set of U.S. clients who participated in its development. The corporation wants additional system data before launching a commercial deployment.

Furthermore, Intuitive Surgical is increasing its manufacturing credentials in a big way. In addition to building new manufacturing facilities in California and moving some system production from California to their East Coast hub in Georgia, the business has started local manufacture of the Xi system in China.

Symbotic (SYM)

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Thanks to efficient AI-enabled robot installations in supply chain operations, Symbotic (NASDAQ:SYM) enjoyed two consecutive EPS beats of 901% and 828%, respectively, to exit 2023.

But the stock is down about 20% since January, which is strange since it has been going up lately in terms of financial performance. The company’s sales for the latest quarter were about what Wall Street expected, not way above it, and Symbotic gave a cautious forecast; both events may have played a part in this sell-off.

Still, analysts see a 33% upside potential, and the warehouse automation systems maker backed by SoftBank (OTCMKTS:SFTBY) has a “strong buy” consensus recommendation based on nine “buy” and two “hold” ratings.

Symbotic is famous for its robotic technology, designed to make the front end of the supply chain run more efficiently. The company is to meet the needs of modern distribution centers and warehouses, a market to grow from around $67 billion in 2023 to roughly $181 billion by 2031, a CAGR of 13%.

As an example of its industry use cases, Southern Glazer’s wine and spirits store recently made a deal with Symbotic to use its top-of-the-line warehouse automation tools.

Walmart (NYSE:WMT), FedEx (NYSE:FDX), Target (NYSE:TGT) and Albertsons (NYSE:ACI) are already clients.

Interestingly, Walmart is also a prominent investor in SYM, holding a 62% share, adding to its appeal among robotics stocks.

On the date of publication, Faizan 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.