5 Robotics Stocks to Watch

Chad Fraser for The Street:  Soon, robots could be doing much more than just vacuuming your house or assembling your next car-they could also invade your investment portfolio. If you're looking for the industry's fastest growth, you'll want to pay particular attention to what's happening on the consumer/office side, where sales are set to grow at a 17% compound annual rate between 2014 and 2019, according to a May report from Business Insider -- seven times quicker than the industrial-robot market. In addition, a number of radical new applications for robotics are emerging in the medical and defense markets, as outlined in this presentation from Investing Daily.

Even though the automation trend is clearly set, there still aren't many pure ways for investors to play it. But that doesn't mean there are no intriguing options out there. Here are five robot makers to keep on your radar screen:

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ST Robotics Develops the Workspace Sentry for Collaborative Robotics

ST Robotics Develops the Workspace Sentry for Collaborative Robotics

The ST Robotics Workspace Sentry robot and area safety system are based on a small module that sends an infrared beam across the workspace. If the user puts his hand (or any other object) in the workspace, the robot stops using programmable emergency deceleration. Each module has three beams at different angles and the distance a beam reaches is adjustable. Two or more modules can be daisy chained to watch a wider area. "A robot that is tuned to stop on impact may not be safe. Robots where the trip torque can be set at low thresholds are too slow for any practical industrial application. The best system is where the work area has proximity detectors so the robot stops before impact and that is the approach ST Robotics has taken," states President and CEO of ST Robotics David Sands.