Adoption of industrial robots will increase 10 percent per year in the 25 largest export nations over the next 10 years, a drastic increase from the 2 to 3 percent growth rate currently, according to the Boston Consulting Group.
Robots are becoming cheaper to purchase, while hardware and software advancements make them more intuitive and functional in the workplace. BCG anticipates up to 1.2 million advanced robots being deployed in the United States alone through 2025, with China, Canada, and other nations also benefitting from automated solutions.
"As labor costs rise around the world, it is becoming increasingly critical that manufacturers rapidly take steps to improve their output per worker to stay competitive," said Harold Sirkin, senior partner of Boston Consulting Group and report co-author, in a statement published by CBC. "Companies are finding that advances in robotics and other manufacturing technologies offer some of the best opportunities to sharply improve productivity."
Even though companies will save money, there is concern that the human workforce is being replaced by robots - as companies look to cut labor costs.