![]() ![]() ![]() While the global retail automation market was valued at USD 11.3 billion in 2020, it is estimated to reach USD 33 billion in 2030. In the retail industry, automation is increasingly incorporated in different stages of the value chain, including logistics and supply chains, back-offices and in-store operations, and sales and marketing, with the aim of optimizing customer experiences and driving revenue. Robots are also assisting in hospitals, such as in Mongkutwattana General Hospital in Bangkok, where three robotic nurses helped face the surge in the number of patients in 2017 by traveling between desks and delivering important paperwork and medicine to doctors. ![]() In the healthcare sector, assistive robot arms are opening doors to independence for people with disabilities or advanced muscular problems. While robots were later developed as machines that handle repetitive tasks that do not require precision, they are now deployed across a broad spectrum of industries, with many benefits. Technology has come a long way since the first mechanical invention, an automated water clock, was created in early 270 B.C. Why the race for robots? Are they really that useful? The new law imposed criminal liability on CEOs and high-ranking managers in the case of injuries and deaths on job sites to encourage them to invest in making workplaces safer however, in reality, it has pushed companies to avoid the entire problem by replacing workers with machines. While the Singapore Government is actively seeking to develop national capabilities in robotics through its National Robotics Programme, it has also unexpectedly caused a ramp-up of automation in the country after enacting the “Serious Disasters Punishment Act” in 2021. Manufacturing industry-related robot density in selected countries worldwide in 2020 In fact, the highest densities of robots can be found in Asian countries, with 932 robots per 10,000 employees in South Korea, compared to 605 in Singapore and 390 in Japan, as shown in the below graph ![]() When it comes to industrial robots and the manufacturing industry, Asian countries are dominating the market, with 74% of the 517,385 newly deployed robots in 2021 installed in Asia. Most recent update: Aug2022 Source Statista Notes: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war. Together, both types generated a total of USD 32.41 billion in revenue in 2022 and are expected to reach USD 43.32 billion in 2027, per the below chart. If we look at the numbers, industrial robots generate higher revenues compared to service ones, with USD 24.18 billion for industrial robots compared to USD 8.23 billion for service ones in 2022. They can either be human-operated or fully autonomous, and they are safer to interact with since they are designed to be human-facing devices that mimic human abilities. On the other hand, service robots are often intended for more “soft” tasks in offices, homes, or similar environments to assist people. They represent an important component of process automation, and they are increasingly being integrated with artificial intelligence and the cloud. Industrial robots are mainly used in manufacturing industries and factories, and they are programmed to handle dangerous tasks that require precision, consistency, and heavy lifting. There are two main types of robots: industrial robots and service robots. Although the now real “killer robots” are making us question whether our subconsciously learned stereotype is really a misconception or rather a prediction of the future, it is safe to say that robots do have many useful applications that benefit society on multiple levels, which is why companies around the world are increasingly opting for them. They are more than those humanoid creations with odd speech patterns, and they are definitely not as evil as depicted in science-fiction movies like The Terminator (1984) or in novels like Frankenstein’s artificial lifeform monster. ROBOTS: Everything you need to know from myths to mind-blowing technologies and disturbing realities ![]()
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