New Delhi, Oct 30 (PTI): Robotics will provide the next great leap in manufacturing, with the share of tasks performed by robots rising from a global average of 10 per cent to about 25 per cent by 2025, a BCG report says.
According to the report, wider robotics adoption would boost manufacturing productivity by up to 30 per cent.
“We project that growth in the global installed base of advanced robotics will accelerate from around 2 to 3 per cent annually to around 10 per cent annually during the next decade,” the report said.
With the adoption of robotics, there would be substantial savings in labour costs and countries that lead in adoption of robotics would see their manufacturing cost competitiveness improve when compared with the rest of the world, it said.
“Manufacturers do not have the luxury of waiting to act until the economic conditions for robotics adoption are ripe,” the report said, adding that companies and economies that are ready to capitalise on the opportunity will be in a position to seize global advantage in manufacturing.
It further added that in some industries, more than 40 per cent of manufacturing tasks will be done by robots.
This development would lead to dramatic gains in labour productivity in many industries around the world and shifts in competitiveness among manufacturing economies as fast adopters reap significant gains.
According to BCG, four industrial groupings — computers & electronic products, electrical equipment & appliances, transportation equipments, and machinery — will account for around 75 per cent of robotics installations in next decade.