How the Global Pandemic is Fuelling an Expected 12.3% Global Market Rise in Robotics by 2026
COVID has brought us many things, including a worldwide requirement to carry out tasks without close human interaction. Advancing technology means that the reality of robotics is not just possible, but is already in use.
Predictions published by Analytics Insights estimate that the 2021 global robotics market figure of US$42.4 billion will rise to US$75.3 billion in 5 short years.
Even before the pandemic, huge amounts of money was being pumped into robotic research. But over the past 18 months, this has increased exponentially. This is in no small part being driven by major industrial sectors in key areas, such as China, Japan, India, Indonesia and Singapore, who’re receiving financial government incentives to speed up the process.
Collaboration is Key
Automatons are already commonplace in virtually every industry. However, the need for collaborative robots is the next stage, with increasing demand for the technology in every sector. However, there’s a monumental shift as to who is driving this need, with SMEs implementing the tech, as well as industry giants. Both levels of need are taking advantage of Increasing adaptability, allowing robotics to be be incorporated into both new and existing areas.
A Growth Explosion Despite the 2019/2020 Economic Slowdown
The past 5 years has seen China driving the robotics market, both in the use of the technology and its advancement. Being as COVID originated here, and spread quickly to neighbouring Asian countries, a resulting negative impact was seen during 2019 and 2020. Even the major players in Japan experienced a similar slowdown, with the resulting disruption to the global supply chain still being felt around the world. But, despite this, the robotic revolution continues to advance, with situation-normal being predicted to be resumed by 2022.
No one will deny that many key industries have been affected, with expected robotic installations in areas, such as automotive, metals & machinery and electronics, being delayed. However, the former is one of the most critical investors in robotics, and demand is keen.
Examples of current investments and the healthy state of the robotics market include:
- A 2020 investment by BMW AG who signed an agreement with KUKA for 5,000 robots to be deployed in their global factories and production lines.
- The 2020 initial public stock offering by provider of intelligent equipment for automotive manufacturers, Shanghai SK Automation Technology Co raised RMB 733.14 million.
High class automation is both needed and used by industries around the world. The shift to SME desire is pivotal, with investment driving its real-world implementation.
Equipment provider, Nexxis, is at the forefront of the robotic revolution and has been for many years. Having adopted a unique ‘solutions-based’ model, the company provides in-depth industry expertise to offer dynamic equipment procurement that works with client needs, allowing them to benefit from the latest cutting-edge robotic technology at the time it suits.
It’s an exciting time to be in robotics. The past decade has seen research advance at eye watering speed, with the next 5 years primed to show just how beneficial this is going to be. The requirement to partner with an equipment provider at the forefront of such tech is exactly what’s needed to stay ahead of the curve.