Increased robotics utilization among manufacturers and end-users will generate greater financing opportunities as robotics continue to change how business is conducted in the future, according to a new study, Robots, Cobots, and Finance, released by the Equipment Leasing & Finance Foundation.
The study, commissioned by the Foundation and prepared by The Alta Group, reveals that the key elements affecting future financing for robots are their level and autonomy, with autonomous robots creating the largest financing opportunities. Worldwide purchases of robotics are predicted by the research firm IDC to rise at a compound annual growth rate of 22.8% and reach total spending of $230.7 billion in 2021.
The study features a wide-ranging examination of the challenges and growth potential of robots and collaborative robots (cobots) and the financing risks for credit, residuals, legal, regulations, and accounting. It also provides in-depth analysis of the current and future state of robotics in key equipment finance industry segments of agriculture, healthcare, industrial manufacturing, materials handling and transportation, as well as an “other” category that includes exoskeletons, nanobots, military applications and robotic process automation.
“This study indicates that robotics offers opportunities for those willing to get ahead of it,” said Thomas Ware, Foundation Research Committee chair and senior vice president, Analytics and Product Development, PayNet. “As with other Foundation studies, it also provides critical intelligence necessary for business decision-making in this dynamic growth sector.”
Head into your average city, and chances are you’ll see some sort of bike or car share program. Or check out a weekend flea market and look at the hundreds of CDs and DVDs that populate the sales tables as... read more
For the last half century, the equipment finance industry has continued to grow year over year. Starting at $29 billion in 1960, the industry has grown to over a trillion dollars in 2018. Industry veterans still remember a time when... read more