Asia Pacific (excluding Japan) spending on robotics is forecast to reach $125.4 billion in 2022, tripling the total spending in 2017, with a compound annual growth rate (CAGR) of 25.7% from 2018 through 2022. APEJ is the largest market for robotics applications and will account for more than 62% of the world’s total robotics market in 2022.
Over $500 million was invested into commercial and consumer health robotics, while close to $500 million went to autonomous mobile robots specifically designed to function outdoors, a major expansion on the increasing popularity of Automated Mobile Robots (AMRs) in indoor locations like warehouses.
AI is going to be a seismic shift in business – and it’s expected to create a $15.7 trillion economic impact globally by 2030. But understandably, monumental shifts like this tend to make people nervous, resulting in many unanswered questions and misconceptions about the technology and what it will do in the workplace.
Spending on robotics solutions is expected to total $86.6 billion in 2018 and will account for more than 85 percent of all spending throughout the five-year forecast. Industrial robotic solutions will account for the largest share of robotics spending (more than 57 percent), followed by service robots and consumer robots.
In 2025, traditional brick and mortar retailers will spend $34 billion on AI technologies — that’s up from just $4 billion in 2018. According to the ABI assessment, computer vision will account for 29 percent of this IT spending.
Most technologies are dual use: take the case of digital technologies that are fundamentally transforming governance, markets and development for the better. Yet the malicious use of these same technologies also poses serious challenges to global stability.
You don’t have to be a clairvoyant to recognize that agriculture is undergoing rampant digitalization. Automation is as inevitable as the tasting of the forbidden fruit. The promises of technology are too seductive, and the lure of greater efficiency all too tempting.