In line with the increasingly tighter competition among industry players, speed and efficiency are needed in the production process. Therefore, the use of robotic automation is the answer.
In 2019, the global robotic process automation market value was recorded at US$1.6 billion. Due to the increasingly massive trend in use, within this decade the market value will jump high.
Based on data from Prescient & Strategic Intelligence (P&S Intelligence), a global market research firm based in Delhi, India, in the 10 years from 2020 the robotic process automation market will grow at a combined annual average of 36.3%.
Later, by 2030, the market value of robotic process automation is estimated to be US$46 billion. In this way, human resources will increasingly be assigned to positions that are more important than just handling routines.
The demand to work virtually during the COVID-19 pandemic has also helped accelerate the performance of the robotic process automation market. The staff continues to work from home, the production process continues thanks to the application of robotic process automation.
Everyone acknowledges that implementing robotic process automation in the manufacturing industry will increase productivity by being able to work indefinitely without increasing salaries or overtime pay for employees.
P&S Intelligence even said that the application of robotic process automation was able to cut operational costs by half. It has not been calculated if there is a labour error which causes operational costs to increase.