With the innovation in robotics, machine learning, Artificial Intelligence (AI), and the Internet of Robotic Things (IoRT), most manufacturing operations are carried out by automated machines and robots. The technology provides efficiency in the production process by ensuring optimum operational costs and reducing material wastage. The machines assist in improving the productivity of the human workforce by supplementing in various operations. The machines can be programmed for performing specific tasks with consistent accuracy and precision.
Any type of mundane, repetitive, and dangerous tasks can be carried out with the assistance of the robots. This in turn saves time and allows the workforce to focus on the creative and strategic aspects of their work. Following the benefits of robotics in ensuring an efficient method of production, many global-level manufacturers have implemented the technology in their production line. Recently, the demand for industrial robotics has increased as the majority of manufacturers want better quality and improved efficiency in their operations along with cost-effectiveness.
The global industrial robotics market suggests that the robotics market size is likely to increase quite fast. The market is expected to grow at a Compound Annual Growth Rate (CAGR) of 14 percent by 2020 and it is also expected to attain a market value at $68 billion. With technological improvements, the robotics is able to replicate human cognitive ability such as gestures, image recognition, face recognition, and body movements. The machines now have limited but human-like intelligence and can be conditioned for flexible and fast learning of work environment.
Global Market Outlook: Industrial Robotics
With an increase in the demand for industrial robotics, the supply is met by eminent organizations such as Fanuc, Yaskawa, Motoman, and Kawasaki. The key robotics market such as China, South Korea, Japan, Germany, and the U.S. constitute approximately 75 percent of total robotics sales across the globe. China is the largest player with an approximate market share of 27 percent followed by Korea and Japan.
The automotive and electronics industry are two major segments that drive the demand for industrial robotics. These industries have recently witnessed major investments in the form of installation of robots.
The extent to which robots are used in the production is evident through the average robot density which is estimated according to the number of robots per 10,000 employees. In regions such as America, Europe, and APAC, the average robot density is 86 percent, 92 percent, and 57 percent respectively.
Industrial Robotics and Efficiency in Production:
Due to the aging workforce in many regions and high labor cost, there is a need to change the production technique and enhance productivity through robotics in the production line. Following are the ways in which the industrial robotics can increase the efficiency of manufacturing.
- The robots are positioned and programmed to carry out manufacturing with mass customization and replication. Efficiency in production is ensured by reducing the cost and time involved in the production.
- Robots are used for carrying out tasks at hazardous workplaces such as oil refineries, mines, sewage cleaning, and radioactive plants. These can ensure the safety and well-being of employees while improving the quality of work.
- IoRT is slowly becoming a key factor in the global manufacturing scenario. has started to play an important role in global manufacturing. With IoRT, the robots are programmed for conducting various aspects of manufacturing with consistency and accuracy. This will further encourage the implementation of robotics in the manufacturing sector.
- The use of collaborative robots or cobots in manufacturing has a quick Return on Investment (ROI). These robots are lightweight, cost-effective, and adaptive. Cobots work alongside humans and assist them in their work.
- Robotics as a Service (RaaS) is gaining popularity in the service sector where robots can assist organizations in carrying out the mundane and repetitive tasks with precision and in lesser time. For instance, RaaS is widely being opted by the finance sector and especially Fintech organizations to outsource their work to the robots and provide a service quite similar to a human teller or a clerk at the office. This ensures fast ROI, timeliness and error-free operation. RaaS also provides an opportunity for automobile manufacturers to outsource the capital intensive part of the business and avoid upfront investments and risks. Such services enable automotive manufacturers to reduce their time-to-market for their products.
With the innovation in technology and science, the leading manufacturing companies have incorporated robots in various aspects of their manufacturing processes. The industrial robotics increases the efficiency of in terms of optimal utilization of resources and saves time and cost.
Various forms of robotics such as Cobots and RaaS assist humans in achieving productivity which would be a difficult task otherwise. With an increase in automation of the production process and real-time benefits of robotics, the demand for industrial robots is expected to soar high in the next 5-7 years.
