Robotics and automation will be crucial areas of focus for manufacturing and energy companies in the year ahead, especially as businesses across these sectors continue to navigate labor challenges, adapt to supply chain disruptions and hone their digital strategies.
Our spring edition of The Real Economy: Industry Outlook for manufacturing and energy examines how companies can thoughtfully incorporate robotics into their business models, lessons learned from the auto industry when it comes to automation, the oil and gas workforce landscape, and the labor implications of elevated capital expenditure investments.
Key takeaways
- Robotic density in manufacturing is on the rise, and as companies think of transforming supply chains and business models, they need to consider robotic investments as part of a broader digital strategy.
- In 2020, U.S. non-automotive manufacturers’ robotics orders, led by the electronics industry, surpassed those of the auto industry for the first time, and we expect this trend to continue.
- Business investment in capacity, enhancements and technology will almost certainly lead to an increase in labor productivity, but overall production will continue to be plagued by labor shortages. Businesses must therefore make strategic investments that will boost worker efficiency.
- While the labor crunch in the overall economy might be temporary, a number of factors have driven some oil and gas workers to other industries, a shift unlikely to reverse in the long term.
