In context
By late 2023, the global robotics industry was already experiencing rapid growth, with over 3 million industrial robots installed worldwide. Labor shortages, aging populations, and geopolitical tensions were accelerating adoption across sectors, making market forecasts crucial for manufacturers planning automation investments.
What was reported
GlobalData's report, “Robotics – Thematic Intelligence,” projected the robotics market to reach $218 billion by 2030. The analysis spans sectors including industrial, medical, logistics, manufacturing, inspection, cleaning, agriculture, defence, and consumer applications.
Advances in AI have transformed robots from fixed-function machines into complex, adaptable products. Cloud computing enables faster, more secure sensing, computation, and memory management at scale, expanding the range of tasks robots can perform.
Current events are also driving adoption: the Russia-Ukraine war boosted military drone sales, aging populations in South Korea, Singapore, and Japan incentivize robots to fill labor gaps, and US-China tech tensions push efficient, low-cost, high-quality manufacturing.
Isabel Al-Dhahir, senior analyst at GlobalData, noted that robots are already assisting surgeries, enabling high-efficiency warehouse logistics, and becoming commonplace in homes as vacuum cleaners.
Why it mattered
The forecast underscored robotics as a strategic investment area for manufacturers. As co-bots and logistics robots converge, factories are evolving into advanced engineering labs where assembly processes are continuously analyzed and improved. However, the report also highlighted growing concerns among unions and policymakers about automation-driven unemployment, emphasizing the need for higher-value job creation.
“Robot technologies such as co-bots and logistics robots are coming together to turn factories into advanced engineering labs where assembly line processes and components are constantly analyzed, streamlined, and improved.”
Source: Robotics & Automation News (roboticsandautomationnews.com) · Published 2023-09-26 · “Robotics market will be worth $218 billion by 2030, forecasts GlobalData”