Robotics Market Set To Reach $218 Billion By 2030
There are currently well over three million industrial robots installed globally, and the rate of their deployment is rapidly accelerating. Their applications are diversifying, ranging from tasks such as stacking shelves to cleaning and manufacturing. The growing importance of robots is underscored by the challenges posed by labor shortages and aging populations in many countries ().
In this context, the robotics market is anticipated to reach a substantial $218 billion by the year 2030, as reported by GlobalData, a leading company in data and analytics.
Exploring the Impact of Robotics Across Diverse Sectors
GlobalData's latest report, titled 'Robotics,' casts a spotlight on various sectors poised to be influenced by robots. These sectors encompass industrial, medical, logistics, manufacturing, inspection, cleaning, agriculture, defense, security, and consumer-related domains. As robotic intelligence continues to advance, autonomous machines are set to become increasingly prevalent in both domestic and professional settings.‘Advances in AI have facilitated the development of robots, transforming them into highly sophisticated products, departing from their previous status as standalone, single-function machines. #robotics #AI’
Isabel Al-Dhahir, a Senior Analyst on the Thematic Intelligence team at GlobalData, observes, "Within the healthcare sector, there is a growing trend toward robots performing or assisting in surgeries. In warehouses and distribution centers, robots are enhancing logistics efficiency significantly. On the consumer front, autonomous vacuum cleaners have become a commonplace sight in many households."
Furthermore, the adoption of robots is closely tied to current global developments. The Russia-Ukraine conflict has boosted the sales and functionalization of military drones. Aging populations and declining birth rates in countries like South Korea, Singapore, and Japan are incentivizing the use of robots to bridge labor market gaps. Additionally, the technological rivalry between China and the US is propelling the robotics market, as the efficient, cost-effective, and high-quality manufacturing becomes increasingly critical.
Al-Dhahir concludes, "Robotics is reshaping the nature of work by transforming production lines and, in some instances, replacing human workers. Robot technologies such as collaborative robots (co-bots) and logistics robots are converging to turn factories into advanced engineering laboratories, where assembly line processes and components are continuously analyzed, streamlined, and enhanced."
"Concerns are growing among unions, policymakers, and social scientists that automation may lead to elevated levels of unemployment, especially if the economy struggles to create higher-value jobs for those workers whom robots replace."
Reference:
- Robotics Thematic Report Overview - (https:www.globaldata.com/store/report/robotics-theme-analysis/)
Source: Medindia