According to a recent report titled Industrial Robotics Market, the compound annual growth rate for the entire industry currently sits at 14.3% on average. Based on that, the size of the robotics market is expected to hit an enormous $30.8 billion by as soon as 2027.
The Industrial Robotics Market: What the Future Might Hold
This incredible level of growth can be attributed to a few different things happening, essentially all at the exact same time. First, there has been a significant increase in the demand of collaborative robots across multiple industries. Manufacturing robotics tire equipment, for example, can be used to automate a lot of the essential but menial tasks that take place during the auto manufacturing process so that employees can work on more important matters, increasing efficiency and helping to cut costs as well. They can also be used in many environments for tasks like sanding, polishing, screwing, palletizing, picking, and more.
Another contributing factor has to do with an expected labor shortage that has already hit the manufacturing sector, but that is anticipated to get worse over time. It has been estimated that as many as 2.1 million manufacturing jobs could be totally unfilled by as soon as 2030. If your manufacturing environment is filled with collaborative robots and other industrial automation tools, the impact of this skills shortage is far less – as is the burden that comes with immediately filling a position as soon as one becomes available.
Finally, the mass adoption of Industry 4.0 across manufacturing is another major contributing factor to the current state of the industrial robotics market size. This is a term used to describe the way that organizations are embracing smart automation – where manufacturing environments are made more productive and efficient thanks to concepts like the Internet of Things (IoT), cloud computing, data analytics, artificial intelligence, machine learning, etc.
It’s easy to see how industrial robotics fit into such an environment. Their analytical implications alone are enormous, as they can help collect and share the invaluable data that Industry 4.0 thrives upon. At the very least, they can assist in generating the real-tie visibility into manufacturing assets that organizational leaders need that they can never truly get with a fully human workforce. This allows them to make better and more informed decisions all the time, creating a significant competitive advantage for themselves as well.
In the end, it’s no secret that industrial robotics assets have already made a big impact on the world of manufacturing. Now, the numbers make it clear that this is one trend that shows no signs of slowing down anytime soon. When you consider just how far things have come over even the last decade, it’s exciting to think about what the next 10 years have in store – especially as more businesses make more sizable investments in the very concept.
If you’re interested in finding out what the manufacturing robotics integration market size means for the future of the industry in general, or if you’d just like to talk to get answers to more specific questions you might have about topics like manufacturing robotics tire equipment, please don’t hesitate to contact the team at Pioneer today.