Published 06 Feb 2023

Global Economic Slowdown: Robotics Industry Sees Growth

Global Economic Slowdown: Robotics Industry Sees Growth

According to the latest analysis from the World Bank Group, global growth is slowing sharply, with worldwide economic output projected to be just 1.7% in 2023. World Bank economists are warning that the downturn would be widespread and any adverse developments risk pushing the global economy into recession.

However, for the robotics industry, the global economic slowdown may not be all bad news. In fact, the global economic slowdown may serve as an accelerant to automation and the robotics industry.

As companies look to cut costs and improve efficiency in a downturned economy, the adoption of robots and automation technologies may increase amid the global economic slowdown. Automation can help with both of these things, as robots can perform tasks faster and more accurately than humans, and they don't require salaries or benefits. It addresses the labour shortage issues many companies have faced in recent years.

For example, in the manufacturing sector, companies may turn to robots to replace human workers in order to reduce labour costs. Similarly, in the logistics industry, companies may invest in autonomous vehicles to improve delivery speed and reduce transportation costs.

A recession, therefore, is not a threat to robotics companies. In fact, they may see an increase in demand for their products as companies look to automate their operations. Despite the slowdown, the robotics industry can still thrive in the coming years.

Movel AI provides robotics navigation solutions to accommodate the upcoming demand for robotics

As a deep tech robotics startup, Movel AI comes in and provides a way out to accommodate robotics companies in answering future robot needs through its robot navigation system, Seirios.

Watch video: Introducing Seirios by Movel AI

Through its flagship suite of products, Seirios, Movel AI equipped the autonomous vehicles with 3D SLAM Navigation, enabling robots to recognise their surroundings quickly and move around smoothly. Movel AI maximises its SLAM robot navigation system, by improving its accuracy by up to 2 cm, thus enabling robots to more precisely position themselves and navigate in the environment. Therefore, there is no need to worry about robot collisions because each autonomous vehicle will be able to detect its surroundings accurately. This is highly needed in a dynamic environment like a warehouse.

Movel AI's robotics navigation solutions enable robots to navigate autonomously, eliminating the need for human intervention, thus increasing their efficiency and reducing downtime. Additionally, Movel AI's robotics navigation solutions are highly customisable, allowing manufacturers to adapt their robots to the specific needs of their clients.

Due to the upcoming demand for robotics in 2023, robotics navigation solutions cannot be delayed any longer. Now #LetsGetSeirios!

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