Manufacturing companies are focused on implementing automation technologies to improve business operations.
Understandably, the market for manufacturing automation is expected to grow at 8.7% CAGR from 2022 to 2031. Utilizing modern systems based on IoT, manufacturing industries can enhance their product quality and output.
That’s why famous software magnate Bill Gates said,
“The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.”
Check out the top automation in manufacturing statistics here!
1. Key Automation in Manufacturing Statistics
- The current market valuation is around $205.86 million
- This market might cross $395.09 billion by 2029
- At a CAGR of 8.6%, the valuation might be $250.77 billion in 2026
- 486,800 industrial robotic units were installed globally in 2022
- At present, there are over 4 million industrial robots worldwide
- Automation will affect around 12 million jobs in Europe by 2040
2. Automation Improves Productivity
Automation can improve the productivity of tasks like processing, inspection and planning.
- 76% of manufacturers use automation to improve factory floor productivity
- Automation can elevate productivity by 0.8% to 1.4% yearly
- It’ll help manufacturers keep up with customer demands
- Advanced technologies can address staff shortages
- Better productivity can lead to a growth of $4.9 trillion by 2030
- It can increase the manufacturing GDP to 5.3%
- The overall workforce productivity will increase
3. Manufacturing Warehouse Development
Manufacturing industry warehouses are using automation to store raw materials and product parts.
- The warehouse automation market can grow up to $31.03 billion by 2026
- North America and Asia Pacific regions are important markets
- Automation can improve manufacturing warehouse productivity by 27%
- This helps in securing goods and producing better products
- Need for warehouse mobile robots will increase by 24%
- Automated vehicles, drones and IoT will become popular
4. More Employment Opportunities Through Automation
Adopting automation can lead to more jobs for technically skilled workers.
- 7 out of 10 employees feel automation leads to more employment
- Automation can create 20 million manufacturing jobs
- Technologies can replace around 2% of the US manufacturing workforce
- Companies will focus on better technical training programs
- High demand for Engineering, IT and Data Analytics skills
- There will be 2.1 million unfilled jobs for skilled employees
- CEOs have to level up their recruitment strategies
5. What Is The Future Of Automation In Manufacturing?
- Automation can create almost 97 million new job positions
- It’ll help manufacturing firms tackle employee shortages
- The Latin America automation market might grow at a CAGR of 11%
Around 24% of companies feel automation will help reduce operating expenses. It’s because AI can improve product development, quality assurance, and data management. Further, centralized monitoring, auditing and compliance will also be improved.
Companies are looking forward to developing intelligent factories via cloud computing.