Joanna Lichter: Robot Value Has Barbell Structure

The barbell framing signals that the robotics value chain is bifurcating, with strategic weight shifting to foundational RFM layers and end-use applications, while the middle—likely integration or generic hardware—faces compression. This matters for capital allocation and partnership dynamics across the sector, as firms may need to pick a pole to stay relevant. The open question is whether this polarization accelerates consolidation at both ends or creates gaps for niche players to exploit.