Automation industry poised for growth

Automation investments are expected to increase 26% this year as more companies seek to add robotics and other technologies to streamline operations.

That’s according to a survey from Interact Analysis and the Association for Advancing Automation (A3), released this week. The groups surveyed more than 200 professionals at automation-related companies and found that most expect double-digit growth across the industry this year. They also said they expect automotive industry customers to lead that investment growth, followed closely by food and beverage companies. Respondents said they expect revenue growth of 24% and headcount growth of 20% at their own firms.

Survey respondents also weighed in on how the Covid-19 pandemic has affected their business. More than 31% said travel restrictions and the inability to see customers are the biggest challenges they currently face. Other challenges include meeting customer demand: 20% said they are unable to meet increasing demand while 19% said weak demand is their greatest problem. On the plus side, two-thirds of respondents said they believe that Covid-19 will no longer affect their business within the next 12 months.

The survey was conducted in February and March and was released in conjunction with the Automate Forward virtual trade show and conference, being held this week.