ABI Research predicts the collaborative robotics market will surge to $1 billion in total revenue by 2020, with over 40,000 cobots entering the industry.
While almost every statistic here talks about the general growth of AI, robotics, and cobot units sold, this one reveals how much of an impact the technology is poised to have. Over 40,000 robots will enter industry. Not only will they drive the improvement of traditional business processes, but it’s likely they will present applications we have yet to discover, as well.
They also have the potential to boost worker productivity, raise production efficiency, and lower overall operating costs.
Through a partnership with Locus Robotics, DHL expects to improve efficiency and productivity for their order fulfillment process. They expect the new system to improve picker speed, decrease rates of failure, and improve the overall efficiency of their supply chain.
Locusbots will work alongside human companions to find, collect, and process items for shipment. They will also make regular operations much faster and easier for their human counterparts, with less time and energy required of the latter.
Similar setups will be incredibly beneficial in large plants or expansive properties, as human workers won’t have to travel or search so hard for various items. Some industrial parks span more than 2 million square feet. Can you imagine searching a property of that size for a single product, with little to no help from analytics tools and cobots? It would take forever.
Cobots can also lower operating costs and expenses for many other organizations. Amazon, for example, has outfitted their warehouses and fulfillment centers with smart robots and components to help personnel do their work faster and better.
According to an analysis by Deutsche Bank, Amazon’s cobots have reduced its operating expenses by 20%, and adding them to newly opened warehouses saves as much as $22 million in fulfillment costs each time.
Similar cost savings can be tapped by nearly any organization or team willing to adopt the technology. More importantly, the robots in question can take on dangerous or repetitive jobs that no one else wants to do.
One of the most prominent electronics and component manufacturers in the world, Foxconn, has converted 60,000 jobs into automated ones.
The automated systems handle tasks that humans don’t want, or that are dangerous for them to perform regularly. In a way, they’re used to improve the quality of life for most workers and personnel, especially at major factories and plants like the ones Foxconn operates.
As mentioned in IDC’s Worldwide Healthcare IT 2017 Predictions report, there will be a 50% increase in the use of robotics for medical and healthcare delivery services by 2019.
Modern robotics have a huge impact outside of their standard manufacturing, development, and operations circles. Lately their influence has crossed over into other industries such as healthcare, customer service, marketing, and retail.
We’re not just saying this technology presents unseen possibilities – it’s already a reality!
This article has been republished with permission from Robotiq.