With the industrial robot population on course to reach 1.7 million by 2020, enterprises the world over are reevaluating how they approach managing a mechanized workforce. To address modern manufacturing operations’ increasing reliance on automation and robotics, the C-suite is preparing to welcome a new designation among its ranks: Chief Robotics Officer.
Addressing An Increasingly Automated Workforce
While the concept may be a new one, a study conducted by Myria Research, a Massachusetts-based research and advisory services business, puts projections of the emerging CRO position in 60% for Fortune 500 executive teams. Beyond that, the Chief Robotics Officer Research Scenario predicts the Robotics & Intelligent Operational Systems (RIOS) technologies market to reach $1.2 trillion globally by 2025. The figure is tremendous when compared to the firm’s $63 billion market valuation in 2015. However, companies cannot afford to discount the increasing prevalence of RIOS in their own daily operations as well as those of their competitors. The projections include full hardware, software, and services segmentation in the figure, which represents a 30% CAGR to 2020 and 40% from 2020 until 2025.