Robotics is rising rapidly, stretching beyond industry

Subject

Robotics outlook

Significance

Robotics is a 20-billion-dollar industry, of which two-thirds is industrial robots and one-third services. When the cost of software, peripherals and systems engineering is included, turnover is closer to 40 billion dollars. Estimates vary but suggest the industry could become at least five times larger in the next five years.

Impacts

• Countries that have strong services sectors and are highly supportive of research and development will lead the services robotics market.
• Rapid robotisation of US industry since 2009 has not cut workers or hours per unit of GDP but if it does it will boost growth prospects.
• Japanese society appears to prefer robots solving worker shortages over immigrants; Europe less so, but UK robotics may grow after Brexit.