According to an article in The Economist (03/03/18), management consultancy firm Bain predicts that, by 2030 American companies will invest as much as $8 trillion in automation and robotics. Bain predicts a large chunk of this investment will be in service industries, where robotic automation will replace human labor.

This is a remarkable feat of crystal ball gazing. $8 trillion is a huge number–just in America, and in the next 12 years. But even if it’s half that, this amounts to $4 trillion, still massive. And if hydraulics only accounts for 5% of this investment, the hydraulics biz will get a $200 billion boost over the next decade or so. This would be VERY significant when you consider hydraulics consumption in the U.S. is around $15 billion annually at the moment. Roll this out around the globe and we’d see something resembling a hydraulics boom the likes of which we’ve never seen before.

Regardless of whether Bain is right or wrong about the numbers, we know for certain there is a lot of early stage investment going into AI, autonomous control and robotics right now. And this investment will spin off a whole host of new technologies and product offerings over the next decade and beyond. I expect hydraulics to be a relatively minor participant in the grand scheme of things, but as the saying goes: a rising tide floats all boats.

What we also know is, the hydraulics that will be incorporated into these innovations will be 21st century, smart hydraulics: electronics heavy and digitally controlled. And this means to fully profit from this forecast expansion, a 21st century hydraulics skill-set will be required. Don’t wait until it’s too late. NOW is the time to work at this, to prepare, so you’re in the best possible position to profit from what lies ahead.