PUBLISHER: Frost & Sullivan | PRODUCT CODE: 1221154
PUBLISHER: Frost & Sullivan | PRODUCT CODE: 1221154
Improved Robotic Dexterity Due to Advances in Materials Expand Applications
Robotics usage in industrial settings has risen over the last decade due to their benefits, such as increased efficiency and productivity. The COVID-19 pandemic accelerated the shift from manual to automated operations as frequent lockdowns led to labor shortages in most industries. However, the high implementation costs mean large organizations tend to invest more than small and medium enterprises (SMEs) in using and integrating robots into their operations. While evolving technologies enable practical cooperation between robots and operators, interoperability challenges and vulnerabilities from cybersecurity pose implementation hurdles for operators. Incorporating technologies such as artificial intelligence (AI) and machine learning (ML) in robots will likely help decision-making and gain traction as robot use increases.
Where possible, we discuss country-level data on new installations and growth. The study also includes a section on sustainability and how robots contribute to a reduced carbon footprint. Notably, Frost & Sullivan offers organizations looking to improve their product portfolio and invest in robotics for manufacturing operations insights into trends and growth opportunities over the forecast period.
In this study, Frost & Sullivan details the total revenue generated in the robotics market. The base year for the study is 2021, and the forecast years are from 2022 until 2026.