Oil & Gas Technology ReportRobotics Report

Robotics in Oil & Gas - Thematic Research

Before cloud computing technology was developed, robots were stand-alone, fixed function pieces of electro-mechanical equipment with capabilities that were limited to the hardware and software on board.

By becoming networked devices constantly connected to the cloud, robots can now leverage the experience of every other robot of their kind, learning at an accelerating rate.

A number of artificial intelligence (AI) technologies is set to make them increasingly sentient, versatile, mobile and autonomous.

The next five years could be the most important in robot history now that robots are fast evolving parts of the IT industry and the Internet of Things.

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  • What you need to know
  • Growth in the robotics sector is likely to rise dramatically; five years ago, the robot industry was chiefly driven by the automotive industry’s demand for large, caged industrial robots, and was growing by 5% a year.
  • China is the single most powerful factor in the global robot demand-supply equation.
  • Three technology cycles – cloud computing, artificial intelligence and the Internet of Things – are redefining the robotics industry.
  • Collaborative robots, or ‘co-bots’ are the fastest growing robot sub-sector. This is expected to grow at a CAGR of 45%-50% over the next five years.

What could the next five years see for the robotics industry?

The next five years could see the most significance in robot history now that robots are fast evolving parts of the IT industry and Internet of Things.

Consequently, robots may be widely deployed to help meet the mounting structural challenges of the developed world – sagging productivity, aging populations, swelling healthcare budgets, and even epidemics of depression and neuro-degenerative conditions.

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