The industrial robots can be programmed for performing a single function at a time and can only perform that particular function till they are reprogrammed. The cost of a robot is not very huge, but generally the cost of programming the robot is so high that instead of reprogramming it the manufacturers find it more economical to buy a new one for a different task. In simpler terms we can say that usually the cost of the robot is just a fraction of the cost of programming it.
Industrial robots promise to replace 70 to 90% of existing manufacturing jobs. People will learn new ways to achieve an economy, to achieve economic development. An economy needs to adjust, to be flexible if you gave pink slips to more than half the labor force.
First, when you raise the cost of labor for small entry level jobs, there will be fewer of them as businesses raise their prices and clientele evaporates, some businesses will close, fewer jobs. The businesses and business models that survive will absorb those costs with rate and price increases to customers – this results in inflation therefore your dollar will be worth a little less, how much is hard to say; 10%, maybe 20%, which is about how much the minimum wage increase would be from what it is now if it went up to let’s say $10.00.
The Obama administration is well aware of the high tech manufacturing competition in China and other Asian countries. In June 2011, President Obama launched the Advanced Manufacturing Partnership, a $500 million effort between the government, universities, and corporate America to invest in new technologies that could create manufacturing jobs in the Untied States.
Companies are increasingly deploying industrial logistics robots to enhance their automated processes and achieve a competitive edge. Furthermore, these robots facilitate flexible systems and end-to-end process improvement, which has added to the demand from the global industrial logistics robots market. However, the fact that every logistics robotic system needs customization prior to deployment will restrain the global industrial logistics robots market.