Inflation and a tight labor market have become a win-win for the robots.
Workplace orders robots In the US, it increased 40% year-on-year in the first quarter of 2022 as companies take advantage of automation to combat persistent labor shortages and cut costs as Inflation still hovering near a 40-year high.
According to data from the Association for Advanced Automation (A3), about 9,000 robots were sold for a total value of approximately $544,000 in the United States during the first quarter, compared to more than 6,400 robots sold combined for approximately $346,000 during the same period last year.
Across North America, more than 11,500 robots were sold for a total value of about $646 million in the three-month period from January through March, the most in a single quarter. The North American numbers represent growth of 28% and 43%, respectively, during the first quarter of 2021 and 7% and 25%, respectively, during the fourth quarter of 2021, the best previous quarter.
Boston Dymanics, one of the leading automation companies, frequently showcases the work it has been doing with the Spot.
A3 represents nearly 1,100 automation manufacturers, component suppliers, system integrators, end users, academic institutions, research groups and consulting firms worldwide.
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The first quarter of 2022 was the seventh of the past nine months in which non-car customers demanded more robots than car customers.
Non-automobile customers across North America ordered a total of 6,122 units during the quarter, compared to 5,476 units ordered by auto-related customers. Unit sales to auto OEMs grew 15% year over year, while orders from auto components companies were up 22% year over year.
Robotics orders are up 40% year-over-year in the metals industry, up 29% year over year in the plastics and rubber industry, up 23% year-over-year in the semiconductor, electronics and photonics industry, and up 21% year over year in the food and commodities industry. Consumerism has increased by 14% in the life sciences, pharmaceutical and biomedical industry. Meanwhile, all other industries experienced a 56% year-over-year growth in robotics orders.
“Businesses of all sizes, and increasingly small and medium businesses, are deploying robots and automation because it’s more feasible than ever,” Alex Chikani, A3 Vice President of Membership and Business Intelligence, told FOX Business. “There are a variety of financing models, new hardware and software, and more user-friendly experiences for customers to enjoy.”
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The data comes as The total number of job vacancies in the United States has increased to 11.5 million. The Department of Labor reported that 4.5 million Americans, or about 3% of the workforce, left their jobs in March. In April, the US economy It added 428,000 non-farm jobs, stronger than expected.
“The main trend we’re hearing about in terms of employment in automation right now is that companies can’t find people,” Chikani added. “Many of our members are hiring now but cannot fill positions due to a shortage of qualified candidates.”
Inflation has also eroded workers’ wage gains, with real average hourly wages It fell 2.6% year-on-year in April.
The nonpartisan Congressional Budget Office expects that Inflation will remain high in the near term, with the CPI expected to reach 4.7% for the whole of 2022. While this is down slightly from the 6.7% recorded in 2021 – a four-decade high – it is still well above what the Fed wants. Inflation is not expected to fall to the Federal Reserve’s preferred level of 2% until 2024, according to the Central Bank of Oman.
in that future jobs report Published in October 2020, the World Economic Forum estimated that the time humans and machines spend on current tasks at work will be equal by 2025. The WEF predicts that 85 million jobs may be replaced by a shift in the division of labor between humans and machines by 2025, while 97 million new jobs may emerge more adapted to the new division of labor between humans, machines and algorithms.
Megan Heaney of Fox Business contributed to this report
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