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As the costs associated with adopting robots fall, they become more accessible to small and medium-size enterprises (SME). Costsavings become critical to SMEs as the price of labour rises. The average cost is expected to drop 50% to 60% by 2025. A decrease in material and technology costs, improvements in IoT and cloud infrastructure and the ease of connecting robots to existing systems all permit easier and cheaper transitions for manufacturers. The robotics market continues to grow. The adoption of robotics in the manufacturing sector accelerated during the pandemic and the global robot market was valued at close to $30 billion in 2021. It is expected to exceed $94 billion by 2028. The global average industrial robot density on the factory floor reached an all-time high of 126 robots per 10,000 employees in 2021, compared with 66 robots in 2015. There are 3.5 million industrial robots already in operation. And 517,000 new robots were installed in 2021: 26.5% in the electrical/ electronics industry followed by the automotive industry (23%) and the metal and machinery industry (12.4%). The most impressive growth was recorded in Asia and Australia, which are now home to three-quarters of all industrial robots. Global growth is set to continue at an annual rate of 7%.

Robots are becoming scalable

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Robots are becoming scalable