Automation 101-the Coming U.S Manufacturing Renaissance,Global Markets, Competitors And Opportunities:2016-2021 Analysis And Forecasts
Automation is defined by Merriam-Webster as “automatically controlled operation…that takes the place of human labor.” While the headlines focus on the loss of human jobs, leading to the idea that Automation’s primary role is to eliminate human labor, history shows that is not the case. As Automation substitutes for labor across the entire economy, the net displacement of workers by machines can increase the gap between returns to capital and returns to labor. However, the displacement of workers by technology also can result in a net increase in higher paying and rewarding jobs. Ultimately, Automation increases the value of labor per dollar output and adds trillions to overall real gross domestic product. This added value to real GDP, in turn, fuels progress, allows for new jobs to emerge, and ensures a positive restructuring of the workforce, and increase overall living standards.
The premise of this report is that the President Trump’s Manufacturing Jobs Initiative will spark a renaissance in U.S. manufacturing activity, which has been in decline for more than 35 years. This, in turn, will lead to a large increase in demand for Automation equipment and services both in the U.S. and worldwide. In fact, this has already started to happen. Companies that already have announced plans to increase their manufacturing operations in the U.S. include: Alibaba, Boeing, Carrier, Ford, Foxconn, GM, Hyundai, Intel, Lockheed Martin, Merck, Samsonite, Samsung, Softbank and Toyota among others.
Specifically, this report examines:
Automation: history, impact on workforce, increase in GDP, robotics, new industries, spending by sector and the main beneficiaries.
Automation Industry: segmentation, Process vs. Discrete vs. Hybrid, systems, networks, controllers, HMI, drives, servomotors, sensors, key drivers, Capex, business optimization, convergence of IT and OT.