Advanced Robotics to Revolutionize the Manufacturing Industry, According to PwC US and The Manufacturing Institute
Industrial robotics paving the way for ‘factory of the future’
As industrial robots become smarter, faster, more affordable, and develop advanced capabilities such as sensing, dexterity, memory and trainability, industrial manufacturers across industries are looking to advanced robotics to gain a competitive business advantage, according to a report released today by PwC US in conjunction with The Manufacturing Institute. Based on a survey of 120 industrial manufacturers, The new hire: How a new generation of robots is transforming manufacturing found that while 59 percent of companies are currently using some form of robotics technology, barriers to adoption still exist due to limitations such as cost, the lack of perceived need, and access to expertise and skills.
According to PwC’s report, there are currently over 1.5 million robots working in factories across the globe, with an estimated 180,000 in the U.S. alone. That number is only expected to increase with the global industrial robot market estimated to reach $41 billion by 2020.