The robotics industry has witnessed significant growth in recent years as it has become a key instrument in the implementation of Industry 4.0. Enterprises are building, deploying, and managing robots to enable the interaction of humans with digital systems and software. Robots boost efficiencies of organizations with higher accuracy, improved safety, and overall increased revenues.
Over the years robotics and automation have been promising technology to speed up certain tasks. The technology holds tremendous potential to accelerate tasks via a high level of automation with the integration of connectivity between machine to machine; with semi-autonomous and fully autonomous robots. From Healthcare to Automotive to Tourism, Robots are helping modernize operations by offering greater agility and value to end customers. For instance, the agriculture sector is moving towards digitalization with the integration of numerous robots to perform various tasks such as spraying fertilizer, irrigation, planting trees, etc.
A PwC study has found that over 50% of CFOs surveyed expressed an interest in accelerating automation via robotics across their organizations. As per MarketStudy Oct. 2021 report, the industrial robotics market is expected to grow to $87.79 billion at a CAGR of 10.35%.1 Let’s look at which robotics trends and predictions will rise during 2022 as the world prepares for a tech-driven tomorrow.
Top 4 significant trends of the Robotic Industry:
1. Surgical robots: The India surgical robotics market was valued at INR 7.02 Bn in 2017 and is anticipated to reach INR 26.01 Bn in 2024, expanding at a CAGR of 19.80% during the 2019-2024 period.2 Surgical robots have provided enormous impetus to the Indian healthcare sector. Today healthcare facilities in major Indian cities like Delhi, Gurgaon, Mumbai, Pune, etc. are offering robot-assisted surgical services. These robots help doctors or surgeons perform surgery with high accuracy, flexibility, and control. Some fast-growing developments set to shape the healthcare robotics industry are nanorobots, rehabilitation robots and full-fledged AR/VR propelled robotic systems.3
2. Robotic Process Automation (RPA): RPA is one of the most widely used technology for businesses dealing with many mundane, repetitive tasks. In a survey by Pew Research Center, 52% experts agreed that while many functions will be taken over by machines by 2025, the creation of new types of job opportunities in RPA will outweigh the displaced jobs.4 This scenario will be followed by a huge requirement of skilled RPA professionals. India is moving towards being an efficient automated country with everything we see and experience having at least one automated element in it. Indian RPA vendors are currently engaged in developing intelligent robots as it helps businesses reduce human resource requirements and obtain continuous 24/7 support from robots.
3. Robotics as a Service (RaaS): Due to the ever-growing trend of everything-as-a-service models, small scale firms are now being enabled and empowered to adopt robots and RPA in subscription-based Robotics-as-a-Service (RaaS) and Software-as-a-Service (SaaS) models. Businesses are increasingly receptive to these because of their flexibility, scalability, and lower cost of entry than traditional robotics programs.1 According to the latest study by Facts & Factors, demand for global RaaS Market size & share was valued at roughly USD 14.5 billion in 2021. It is expected to reach USD 44 billion by 2028, at a compound annual growth rate (CAGR) of about 16.5% during the forecast period 2022 to 2028.5
4. Delivery Robots: Infusing a new transition in one of the world’s biggest markets, delivery robots have thrived last year with the onset of the pandemic. Leading the charts as one of the finest trends in Robotics in 2022, the contemporary market for delivery robots is predicted to grow from a value of €188M in 2021 to nearly €850M by 2026.6 With a growing demand for delivery robots in the retail and food and beverage industries, the era of delivery robots has just begun. The essential factors for growth in this domain comprise reduction of delivery costs in last-mile deliveries and raised venture funding. Last-mile logistics are a costly but important component that seemed too complex for robots of the earlier era to perform. As robotics, computer vision, navigation, and fleet management software undergo development, an increasing number of robots are displaying enhanced mobility and transportation features. Evolved delivery robots that can coexist with pedestrians, vehicles, etc might solve last-mile logistics.7
5. Multi-purpose Robots & Cobots: The accelerating evolution of e-commerce businesses has contributed to tremendous growth in the AMR (Autonomous Mobile Robots) market. Multiple retail administrators are reaping the advantages of robot relinquishment for repetitious functional tasks such as to moving force and drawing the floors. Retailers are anticipated to add multi-purpose robots to their brigades to carry out multiple tasks simultaneously while creating an easy-to-manage digital workflow. ‘Cutebot’ a multipurpose robot developed by the B. R. Ambedkar National Institute of Technology, Jalandhar can be used in hospitals as well as for surveillance. The robot with its wheeled mobile platform helped doctors and medical staff interact with Covid-19 patients via the robot’s audio-visual screen while sitting in their rooms.8 Cobots, also known as cooperative robots, perpetually take over specific jobs as they tend to be more productive than human workers. As numerous diligences struggle with labor deaths, cobots are in no way breeds for concern. They are supposed to take over monotonous and dangerous jobs, allowing humans to focus on creative thinking tasks.
Automation and robots have been increasingly adopted across industries because they can access and use analytics to predict and prepare for market change or supply chain disruptions. Unsurprisingly, this shift towards automation will keep influencing and changing how business is conducted during 2022 and in the coming years. These trends will lead the direction of robotics in the coming times.
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