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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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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<\/a>, so you’re in the best possible position to profit from what lies ahead.<\/p>\n","protected":false},"excerpt":{"rendered":" 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 … Continue reading