An annual survey by the International Federation of Robotics found that more than 10 percent of South Korea’s workforce has been replaced by robots. The survey shows that labor markets in Asia are leading an upward global growth trend in the amount of robots used for labor.
South Korea leads this transition to a robotic workforce, as the survey shows the country currently has 1,012 robots per 10,000 employees. Analysis from the International Federation of Robotics also found that county’s use of robots has increased by 5 percent each year from 2018.
EU and USA robot density
The survey also found that the European Union currently has a density of 219 robots per 10,000 workers, which is an increase of roughly 5.2 percent. Several EU countries rank highly in robotic density per worker, with Germany leading the way in this demographic, followed by Sweden, Denmark, and Slovenia.
In Comparison, North America’s robot density per worker is 197 units per 10,000 workers, showing an increase of 4.2 percent. The United States currently ranks tenth in this indicator.
This Starbucks located in South Korea is run by 100 robots and only 2 humans. The robots are taking orders and bringing them to their customers, and the Starbucks is even performing experiments with a dual-arm robot pic.twitter.com/etRiiqvD31
— Historic Vids (@historyinmemes) May 29, 2024
Despite this, however, Asia has the highest growth of robots in the workforce. This year, the region recorded an increase of 7.6 percent of robots in the workforce, with its density being roughly 182 units per 10,0000 workers.
The region, led by South Korea, also has four countries in the top 10 with the most robots in the workforce.
The global robotics industry is projected to reach $43.32 billion in revenue by 2027
Industrial robots have been around for a long time, but recent developments in AI have also promised to revolutionize the global robotics industry, making it one of the most profitable ones on the planet.
Some key indicators have shown what we can expect from this industry in the near future. At the moment, there are more than 3.4 million industrial robots in the world, and this number will likely go up, given industrial companies plan to invest as much as 25 percent of their capital in robots for the work force.
This increase in the robotics industry has led to as much as 14 percent of workers losing their jobs to robots. Notably, however, companies around the world are already gaining billions in revenue from robots in the work force.
For instance, European companies posted $6.28 billion in revenue from service robots in 2023, with North America and Asia posting $5.78 and $3.57 billion, respectively.
The global robotics industry only seems to grow. It remains to be seen what this will mean for the industrial workforce in the near future.
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