ROBOTICS INDUSTRY REPORT 2021 – Are we entering a fictitious world with robots being omnipresent?

Robotics is an interdisciplinary branch of artificial intelligence (AI) that studies the conception, operation, design and manufacturing of robots. It entails various branches of electrical and mechanical engineering, as well as computer science.

The top 5 most automated countries in the world are: South Korea, Singapore, Japan, Germany, and Sweden.

Robots are multifunctional, automatic, and reprogrammable industrial machines that can be equipped with a wide range of high-tech devices such as visual, tactile, and audio sensors.

The growth in robotic automation adoption should also be supported by the three key factors:

Technology: Technological progress is probably the single most critical key driver of robotics adoption. With rapid improvement in technology, the cost of robots has been declining while the functionality has been improving by leaps and bounds

Demographics: As populations continue to age in many markets, there could be fewer and fewer people available for jobs. With fewer workers around, there will be a growing need for deploying robotic automation solutions as they offer one obvious way of addressing this problem

China: China has been experiencing strong wage inflation for some time and has made rapid progress from a developing nation to a developed economy. The rising cost of labour has to an extent put pressure on China’s long held low-cost manufacturing advantage

There are a number of challenges despite a robust outlook surrounding the adoption of robotic technology.

Job Loss: The increasing penetration of robots could lead to short-term labour market dislocations. This could lead to social unrest within societies and to some extent may slow down the adoption of robots

Cost Remains High:  The high cost of implementing a robotic system is one of the main deterrents for mass adoption

Lack of Expertise: The robotics systems require high levels of skill and expertise to operate and maintain. This is challenging particularly for small and medium enterprises which often lack the talent to handle such tasks

Privacy Concern:  Robots could be prone to cyber-attacks or hacking. Specifically, personal or household robots, if hacked could invade privacy of individuals

The trends to look out for when it comes to robotics include large retail and consumer firms adopting robotics to add flexibility to meet market dynamics

Bridging Robots and Cloud: Cloud robotics is an emerging field of robotics rooted in cloud computing, cloud storage and other internet technologies centered around the benefits of converged infrastructure and shared services

Next-Gen Robotic Tech Accessories: Each new tech development will eventually be incorporated into new designs and models of robotics and automation systems. 3D sensing or depth sensing is now being used with robotics for mapping places, scanning to avoid obstacles, and for combining jobs such as assembly and inspection

Smart Factories: As robots become more intelligent, so will the industries in which they are used, such as manufacturing and distribution. Assembly lines will be supported by industrial robotics and automated solutions, and smart factories will become ubiquitous

Companies are increasingly turning to robotics to gain a competitive advantage in the supply chain. The demand among supply chain and ecommerce is driving the use of autonomous mobile robots.

 The demand for last-mile delivery robots has been rising notably. Amazon has launched its product delivery robot called Scout, which is of the size of a small cooler and can easily move along sidewalks and deliver packages to the doorstep of the customer.

Food packaging robots have been incorporated into parts of the food supply chain for some time. However, the latest development is that the entire packaging process can be automated.

Self-sanitizing robots are being used various parts of the world to combat the spread of virus. Food delivery robots are being used in flights to feed passengers that are suspected of being infected. These robots reduce human contact and prevent the spread of disease.

RPA is the form of business process automation technology based on metaphorical robots or artificial intelligence (AI) or a digital worker.

RPA robots use user interface for operating applications and capturing data just like humans do. In order to perform on a vast variety of repetitive tasks they interpret trigger responses and communicate with other systems.

Robot‘s functioning  will continue to improve and can deliver better quality products and services more efficiently, with less wastage and without causing physical damage to humans due to their autonomous nature.

Crispidea forecasts the global robotics market to grow at a CAGR of 19.33% between 2021 and 2025.

For details on robotic innovations and region wise analysis please feel free to refer to the following Robotics Industry report from CrispIdea:

https://www.crispidea.com/downloads/robotics-industry-report-2021-are-we-entering-a-fictitious-world-with-robots-being-omnipresent/

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