I work for a robotics company. I’m sure you can imagine the rush that comes when the latest predictions about the growth of the market peg the opportunity on the fast-track to exponential growth. After all, it’s how I make my living.
For collaborative robots (cobots), the news seems to be all good. Last week, a report crossed my desk touting CAGR growth of up to 50%, resulting in market size of $4+ billion by 2023. Reading this, it’s easy to understand how one might get swept up in the head-spinning optimism. Not me, though. If there’s one lesson I’ve learned in my career in the world of disruptive technology, it’s beware the hype.
That’s not at all to say that I don’t believe in the potential of cobots to transform manufacturing. I’ve written plenty about it – and more importantly – have seen our customers put cobots to work in their operations with great success. More often than not, though, there’s plenty of resistance to the disruptive innovation that cobots bring. And even after the cobots are in place and doing the job well, entrenched thinking throws up roadblocks to expansion.
What is it going to take to close the gap between the hype and what Gartner has labeled as the “trough of disillusionment” for cobots? Manufacturers know they are caught between today’s reality – where productivity is being squelched by one workforce aging out and a labor pool that doesn’t want to work in manufacturing and the pressure to move to the age of digital manufacturing – where machines operate autonomously, powered by distributed decision-making, and products find their way independently through the production process. Manufacturers know that more automation is key to breaking the deadlock between today’s status quo and the promise of Industry 4.0.