Updated: Feb 24
McKinsey & Company has issued its research piece on the outlook for growth for industrial robotics. With a global installed base of 2.1 million units, McKinsey believes that this will grow at a rate of +13% per annum from 2018 to 2021. The key drivers for this demand will come from:
1) increasing variety of models
2) greater technical abilities
3) increasing manufacturing labor costs and
4) more accessible pricing.
Investment expectations are said to be high, most notably in automotive but also in both electronics and pharmaceuticals. Investments made are expected to deliver the core benefits of reducing production costs, improving quality and productivity. Automotive players want greater flexibility in production facilities and employee safety. Electronics want to invest in quality most of all, and pharma want to see overall better performance in terms of accuracy and speed.
Source: McKinsey, July 2019.