North American companies have hit the brakes on robot purchases in 2023 due to concerns about a cooling economy and rising interest rates.
The Association for Advancing Automation revealed a thirty percent decline in robot orders, marking the first setback in the region’s five-year journey into increased automation.
Jeff Burnstein, president of the association, explained that economic uncertainties make it easier for companies to postpone such investments.
The largest drop in percentage terms since 2006, with thirty-one thousand, one hundred and fifty-nine robots purchased in 2023, was observed predominantly in automotive-related industries and other sectors like food and metals manufacturing.
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