The robotics market is growing massively in the BPO market, as has been well documented, and now a report from Digital Journal has fleshed out the picture with some forecast figures.
Based on a press release (so we feel able to quote it extensively), the report says: “According to a new market report published by Transparency Market Research, the global IT robotic automation market is expected to reach a value of US$ 11,417.4 Mn by 2026. The market is projected to expand at a CAGR of 28.1% during the forecast period from 2018 to 2026.”
When the overall economy isn’t predicted to grow a great deal, that’s a massive increase, as might be expected from such a new area (yes, we’ve been writing about it for years but that’s not the same as actual uptake).
Whether this will encourage an overall economic boost, however, is up for some debate. As robotic process automation grows, so the scope for human-based arbitrage shrinks; our best guess is that the one will cancel out the other so although robots won’t destroy people’s jobs as such, they won’t cause a mini-boom either.