By Sangeet Kumar
Technology for MSMEs: The best way to survive as a small and medium enterprise (SME) is to focus on stability and growth, and always look for innovative options to support it. In order to shore up your business’ defences against difficult economic conditions caused by local, national, global, and even other geopolitical factors, it is imperative to stay vigilant in improving efficiencies and reducing overhead costs wherever possible. Because healthy cash flow plays a significant role in a company’s stability, business owners in the SME segment are setting their sights on improving their efficiencies and reducing costs within their operations, as it is traditionally cost-laden.
Enter the notion of automation via collaborative robots (cobots). The very objective of using cost-effective cobots is to unlock the potential of a business, despite its size, resulting in increased efficiency and productivity. When it comes to utilising cobots in a production line or in a warehouse, for instance, businesses can streamline various manual, time-sensitive tasks, enhancing their capacities in limited space and lead time.
Also read: Industry 4.0: How well MSMEs have been able to adapt to automation
In an era where the requirement for skilled workers in the country is rising sharply, businesses nowadays are looking for methods that assist them in reducing costs and enhancing their productivity. Hence, the wide adoption of cobots. These cobots come with a safety mechanism, including power and force-limiting technologies, which make them compatible to collaborate with the human workforce. These sensor-equipped smart technologies are linked with IIoT and are more precise, powerful, and collaborative.
Furthermore, the world of manufacturing and industrial operations is changing dramatically with rising competition levels and a shift in consumer demands. Businesses are adopting these intelligent solutions that give them a competitive edge in the market. At the same time, with the help of cobots, businesses are making the best use of the limited resources by exploring areas where automation can come in handy.
According to Fortune Business Insights, the global cobot market is projected to grow from $1,358.2 million in 2021 to $16,387.3 million in 2028 at a CAGR of 42.7% in the forecast period. Considering the numbers, it is evident that cobots are going to play an essential role in the development of Industry 4.0, 5.0, and the Industrial Internet of Things (IIoT).
Robotic palletizers are gaining traction compared to their peers because palletizing is one of the most labour-intensive jobs in a warehouse or manufacturing segment. The use of robotic palletizers has contributed to the automation and noticeable improvement in the quality of palletization in recent years.
At the same time, this modern-age machinery has given a sense of relief to employees from the heavy stress these processes entailed. On the other hand, the flexibility and ease of programming and installation allow SMEs to cover different palletizing solutions within their factory or warehouse without the need of any significant additional infrastructure.
Also read: Can warehouse automation technology unleash MSMEs’ real potential?
Due to these benefits, semi and fully-automated palletizing are currently in high demand and adoption. As per the latest reports published on MarketWatch, the global “Robotic Palletizers and De-palletizers market” is expected to register healthy growth during the forecast period 2022 to 2028. As industries move forward and continue to innovate, these automated palletizers are evolving into more sophisticated equipment that is fully capable of handling end-to-end palletizing along with depalletizing options.
These solutions can be counted as an investment as the cost can be classified as an operating expense. Even better, these cutting-edge solutions allow businesses to follow a more sustainable and energy-efficient path. Considering the value associated with these cobots—cost effectiveness, increased productivity, accuracy, less lead time, and sustainability—the integration of cobots into the legacy business model seems more enticing. So, with everything to gain with the adoption of cobots or robotic palletizing for your SME, it’s high time you get started too.
Sangeet Kumar is the Co-founder & CEO of Addverb. Views expressed are the author’s own.