TechTheDay

The last year has been transformative in the adoption, funding, mergers and acquisition activity, and development in robotics, and 2022 has gone off to an excellent start, with many signs pointing to the industry’s rapid growth in the coming years. And it’s not hard to see why; robot automation technology has shown exponential potential, from its ability to complete specific tasks with repeatability and precision to maintaining a consistently high level of productivity from the lack of stoppages. With that said, here are some critical trends for robotics in 2023.

Growing investments toward robotics enterprises

Many investors are continuously funding new innovations in robotics across various industries, including but not necessarily limited to the automotive, medical, hospitality, logistics, and manufacturing sectors. With a lot of financial resources in its market, strategic investors, private equity, and venture capital all aim to take advantage of and steer the development of these disruptive technologies. Similarly, disrupted chains of supply and labor shortages are fueling the immediate demand for the industry. In fact, some sources expect the industrial robotics market to go over thirty-five billion dollars by 2029.

Intellectual properties are critical to innovation in robotics

Trade secrets, patents, and many other intellectual properties are increasingly becoming essential in fueling the robotics industry’s growth. Robust protection for IPs encourages organizations to make investments in research and development and present additional tools that aid innovative businesses in maintaining their competitive edge. Furthermore, robotics investors consider IP’sIP’s exclusivity to be an invaluable asset, as barriers to their entry generally mean better market shares. In turn, this enables companies to draw in funding while increasing their valuations.

Likewise, intellectual property protection is fueling an uptick or growth in business partnerships, which lessens the risks of sharing valuable technologies. It also allows all parties to mutually benefit from the exclusivity shields of the background technology that’s incorporated into collaborations and joint ventures. 

Continuous efforts in hacking prevention and liability mitigation

Cybersecurity is an area that will remain a priority across all industries due to the potential for disruption and damage that may result from data breaches and successful attacks. The dangers had been demonstrated back in 2010 when the Stuxnet malware was used to overspin the nuclear centrifuges of Iran and force them apart. Beyond the catastrophic financial problems it can cause, organizations are warier now than ever of the state-sanctioned threats in cybersecurity as tensions in the geopolitical landscape are increasingly dominating current events.

Concerns regarding liability are also rising within the context of cyberattacks. The OnePlus security breach, where approximately forty thousand users were affected, is a good example of this, as it was their negligence that made the attack’s success possible.

Conclusion

The adoption of technologies by the robotics industry has boomed amidst the COVID-19 pandemic and continues to accelerate the demand for robot technologies. Advances in big data, IoT, machine learning, and artificial intelligence are all increasingly driving robotics into many aspects of our lives. And in 2023 and beyond, the dependence on technology, evidence generation, and cost-effectiveness will likely drive the robotics revolution forward.