Significant COVID-19 Impact on Service Robotics in Semiconductors & Electronics Industry
COVID-19 Impact on Service Robotics in Semiconductors and Electronics Industry COVID-19 created a major impact on the service robotics market. Almost every country has opted for the shutdown option for production facilities except those dealing in producing the essential goods. To prevent the spread of coronavirus disease, the government has taken strict actions such as the shutdown of production and sale of non-essential goods, blocked international trade, and many more. The only business dealing in this pandemic situation is the essential services only allowed to open and run the processes. The companies such as pharmaceutical and chemical, among others are allowed for facilities operation but with certain safety rules. Robots that are used to carry out tasks unrelated to industrial automation and manufacturing are called service robots. These robots can be personal service robots that can perform tasks such as cleaning homes, pools, mowing lawns, and several others. Robots can also be used to provide education or the service of assisted living to those in need of it. The growing adoption of robots for new applications providing high returns on investment coupled with increasing funding for robotics research is the key factor driving the service robotics market. The lack of standardization in technologies being adopted for robotics, such as AI and machine vision, also complicates systems' integration, posing a major challenge to the service robotics market. ANALYSIS ON IMPACT OF COVID-19 ON THE MARKET The COVID-19 epidemic appears to have had little impact on the marketplace for most sorts of service robots. Robotic methods facilitate social separation, do not require quarantine, and are unaffected by travel restrictions. Massive personnel shortages in healthcare, industry, and supply chains and the need for "social distancing," diagnosis, and treatment can be addressed using these technologies. For instance, · Service robots are critical in healthcare because they reduce human interaction at every level, from patient inspection through patient care and drug distribution · Disinfection robot UVD has been in high demand since the outbreak of the COVID-19 pandemic Emerging trends, which directly impact the dynamics of the service robotics industry, include the rising usage of IoT in robots for cost-effective predictive maintenance and adoption of swarm intelligence technology enabling robots to perform various complex tasks with ease, act as major drivers to the market. AFTERMATH OF COVID-19 AND GOVERNMENT INITIATIVE TO BOOST THE MARKET Government efforts to encourage the adoption of service robotics alternatives have developed rapidly in recent years. Governments in the European Union, China, Japan, Canada, India, and South Korea are among the major geographies where governments are taking aggressive measures to increase the adoption of personal and professional service robots. For instance, · The U.S. government has started the National Robotics Initiative. The goal of the National Robotics Initiative is to accelerate the development and use of robots in the United States that work beside or cooperatively with people. The purpose of this program is the development of this next generation of robotics, to advance the capability and usability of such systems and artifacts in multiple agencies of the federal government, including the National Science Foundation (NSF), the National Aeronautics and Space Administration (NASA), the National Institutes of Health (NIH), the U.S. Department of Agriculture (USDA), and the U.S. Department of Defense (DOD) · The Chinese government has initiated the Industrial and Military Robotics Development Association for improvement of research and development in service robots with the advancements of Artificial Intelligence (AI), Machine Learning (ML), and Internet of Things (IoT) Such favourable initiatives are anticipated to boost the adoption of Artificial Intelligence (AI), Machine Learning (ML), and the Internet of Things (IoT) and thus drive the adoption of the service robotics market. STRATEGIC DECISIONS OF MANUFACTURERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHARE The global epidemic of COVID-19 has two consequences for the service robots sector. To begin with, it promotes the development of professional service robots, which may assist in the supplementation of key infrastructure and the alleviation of supply chain stress. The market for industrial robots, on the other hand, is limited by their dependency on the automotive and electrical/electronic industries. The COVID-19 epidemic appears to have had little impact on the marketplace for most sorts of service robots. As a result, service robot manufacturers have devised various tactics to combat the drop in revenue. Some of the most common strategies adopted by industries are as follows, · The cost of experimenting is reduced as the testing process is accelerated. · The quantity of expensive physical prototypes is being reduced and redesigned due to their rapid obsolescence. · The availability of knowledge early in the development process helps to increase design quality. IMPACT ON DEMAND North America is a major market in service robotics, with the U.S. leading the market due to a large number of start-ups and various blooming technologies. The pandemic brought a boom in sales for the service robotics market as the lockdown prevailed in most regions. The lockdown led to the temporary closing of manufacturing facilities whereas, the demand for personal and professional robotics products has also increased. However, post-COVID-19, when things are normal, there can be a huge demand for the service robotics market as manufacturers will resume their productions and require equipment to ensure the customer's requirements. The pandemic has adversely affected the companies' sales as the demand has reduced due to several factors, such as the economy's slowdown. People are saving their money to use it for emergencies, and companies have lowered their investments. Companies use their capital to pay rent, mortgages, and salaries without investing heavily in new projects. However, the digital transformation of various industries is gradually increasing the scope of growth for the market. The growth has highly increased in the healthcare sector as the demand for skilled doctors and research increases. Service robots are highly beneficial for the healthcare sector to help in extensive training. The education sector is another sector that uses service robots for training purposes to increase the market's growth in the pandemic. Thus, there will be a surge in demand for this sector. IMPACT ON PRICE Although the COVID-19 pandemic continues to transform the growth and prices of various industry-related products, the price of the products with respect to the service robotics market maintains a steady line throughout the pandemic. This denotes that there are no major changes in the price of the service robots due to the pandemic. IMPACT ON SUPPLY CHAIN Mismanagement and communication problems in internationally connected organizational networks pose significant risks and costs in supply chains, which are complex systems. For instance, · In April 2020, a few Japanese start-ups developed medical robots that can be used to check human body temperature and conduct disinfection work in hospitals · In May 2020, IPsoft and GlobalDWS Corporation joined hands to develop a Disinfection Service Robot (DSR) equipped with a high-pressure atomizer to eliminate harmful bacteria and viruses from a target area Some of the most influential factors that affect the supply chains are the service robot manufacturing companies seeking strategies to protect their position in the value chain. Looking for new markets, finding new possibilities to leverage skills, and offering more value to customers. CONCLUSION With COVID-19 affecting countries at different times and rates, access to global demand through open markets, the pandemic situation created by COVID-19 has a major impact on the service robotics market as it has lowered its demand owing to the shutdown of most of the manufacturers all across the globe. On the other hand, improvisation of technologies has led to gain strong industrial growth. However, the growth has been high since the market has opened after COVID-19. It is expected that there would be considerable growth in this sector owing to high technology and interfaces, which will drive the overall demand of the market.