Robotics as an economic growth engine – Ariel University

1 March 2023

Professor Zvi Shiller from Ariel University and Chairman of the Israeli Robotics Association highlights the potential of robotics as an economic growth engine. Robotics, which includes the event of computerized mechanical techniques, has functions in lots of areas of life, together with family, medication, agriculture, logistics, transportation, and schooling. However, the excessive entry stage for growing robotic techniques has slowed its growth within the final 4 a long time. The business faces typical market failures such as multidisciplinary data necessities, lengthy and costly improvement processes, problem introducing merchandise to the market, and the supply of an different cheaper resolution – human labor.

Despite the dearth of help from the state, Israel has modestly grown its robotics business with a worldwide status. The variety of firms that produce robots as a ultimate product is comparatively small, however analysis exercise in academia has targeted on a number of fields such as medical robotics, autonomous automobiles, human-machine interface, robotic groups, agriculture, and nursing.

The COVID-19 pandemic and the Russia-Ukraine battle have elevated the significance of the sphere of robotics to ranges unseen within the final 40 years. The sudden want for independence and safety has made robotic options a necessity. Smart bodily techniques-based mostly robotic options are in demand within the fields of well being, nursing, agriculture, business, logistics, and transportation. The mixture of exploding wants, spectacular technological progress within the discipline of robotics, and the rising software of synthetic intelligence brings the sphere of robotics to some extent the place it could possibly attain new heights.

Optimistic forecasts for the sphere of robotics point out a market measurement of over $200 billion in 2030 with a growth charge of 12%-14% per yr. Prof. Zvi Shiller believes that the market measurement can be double that since these forecasts are based mostly on current growth charges and don’t consider new areas of software that can improve the usage of robotic techniques.

Robotics Technology Market Size 2022 To 2030

Investment within the discipline of robotics is anticipated to offer new avenues of growth for the Israeli excessive-tech business, which till now has targeted on software program and electronics improvement. The mixture of robotics and the Israeli excessive-tech business will make the most of current human capital and infrastructure developed over the previous thirty years.

The Israeli Robotics Association proposes the creation of a National Robotics Institute to speed up the entry of Israeli business into the sphere of robotics. The institute would serve as a platform for multidisciplinary data sharing, analysis and improvement, and incubation of startups. The Robotics Association believes that with fast motion and the exploitation of Israeli business’s outstanding benefits in coming into new fields, Israel can place itself among the many leaders of the robotics 3.0 revolution that focuses on sensible robots that mix {hardware} and synthetic intelligence.