Significant COVID-19 Impact on the Factory Automation | Semiconductors and Electronics Industry | Data Bridge Market Research


Posted April 19, 2021 by victory7493

With rising digital transformation of industrial processes, the global factory automation industry has made major strides. Owing to the increasing convergence of technologies such as artificial intelligence, cloud

 
COVID-19 Impact on the Factory Automation in Semiconductors and Electronics Industry
The world is witnessing an adverse impact on the human, economies as well as the industries due to COVID-19. As stated in the World Health Organization reports, the death rates are increasingly growing on a continuous basis globally. Due to its severe impact on the global economy, the government has taken a decision of complete lockdown which will help in minimizing the spread of coronavirus. Because of this decision, complete shutdown of manufacturing operations gets implemented which has brutally affected all the industries. Even, the initial result of lockdown showed loss of employment. Now after completing almost six months of the year 2020, the government has taken decision to start unlocking the lockdown which means companies and industrial sector can restart their business operations with some mandatory guidelines. For instance, government has given the permission to restart their factories with only 20%-50% employees on the field following all sorts of social distancing, extreme hygiene measures and others. It is supporting the economy and consumers goods production need only at certain level due to restriction of limited manpower utilization.
One of the biggest challenges that government of all countries are facing is the lack of an effective method for identifying unknown infected cases and estimating the likelihood of COVID-19 virus infection. In response to this issue, the research proposes a new, revolutionary method to alleviate the enormous challenges of COVID-19 transmission and contagion of the disastrous coronavirus.
IMPACT OF THE COVID-19 ON FACTORY AUTOMATION MARKET
With rising digital transformation of industrial processes, the global factory automation industry has made major strides. Owing to the increasing convergence of technologies such as artificial intelligence, cloud computing, industrial internet of things (IIoT), and advanced analytics, this transition has been further accelerated. In this COVID-19 epidemic, many organizations believed that COVID-19 has provided a new wave of automation. In survey, it has been found that 62% of the companies are planning to accelerate the usage of automation in some processes which was previously carried out by the employees. This percentage is mainly higher in finance, IT and telecoms, retail, catering and leisure. Adoption of automation helps in reducing the overall costs, being less reliant on human workers and even helps in enhancing work quality. As per the international federation of robotics, China will become the world’s largest market for industrial robots.
For instance, the COVID-19 pandemic has brought tremendous changes in North America. Some of the manufacturers dealing in the automotive industry are witnessing a decline in the demand, meanwhile, others are producing items such as hand sanitizers, disinfectant wipes, bath tissues and paper towels for mobilizing their production with the help of automation.

CHINA PLANNED TO INTEGRATE ROBOTS IN THE HOSPITAL
In China, Sunay Healthcare Supply’s entered into the partnership with various hospitals of China. As per the agreement, the company integrates robots in more than 2000 hospitals. This integration of robot increases the safety of staff, patients and their relatives by reducing the risk of contact with bacteria, viruses and other harmful microorganisms.

IMPACT ON SUPPLY AND DEMAND OF FACTORY AUTOMATION MARKET
Factory automation has strong demand in the market owing to rising need of improved performance and safety. Even before the pandemic situation, the factory automation market has witnessed a significant CAGR owing to transformation of industries towards automation. Now, at the recent time, COVID-19 has increased its importance which is augmenting the factory automation market growth and is also supposed to enhance the CAGR in the forecast period of 2020-2027.
For instance, ABB had intended to install advanced collaborative robotics for medical laboratories and hospitals, beginning at the Texas Medical Center in Houston with a new healthcare hub. ABB's collaborative robots are already functioning in food and beverage laboratories around the world and are well equipped for medical facilities because they do not need safety barriers to work together with humans safely and efficiently.

CONCLUSION
The pandemic situation has increased the value of factory automation as it helps to solve the challenges faced by the manufacturing sector in meeting the rising demands. At the enterprise, the implementation of automation automates repetitive business processes or activities based on rules. Automation is a key to solve the pandemic crisis for organizations as its enhanced capabilities enable companies to take a position of sustainable prominence with cost reduction and fuel their development in the competitive world. The companies that prioritize investment in automation technologies will now prosper, and will be safer in the face of future disruptions.
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Issued By DBMR
Business Address Pune
Country India
Categories Automotive , Electronics , Technology
Tags factory automation market analysis in developed countries , factory automation market analysis , factory automation market forecast , factory automation market future innovation , factory automation market , factory automation
Last Updated April 19, 2021