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Manpower constraints, technological leaps and cost efficiencies are driving the rapid expansion of robots around the world, according to reports.

Figures released by industry body the International Federation of Robotics (IFR) on 13 December showed that 500,000 industrial robots were installed worldwide last year, 22% higher than the record set in 2018. The number of industrial robots worldwide has now reached a record high of 3.5 million, according to the International Federation of Robotics.

All this means that there could be a huge shift in the way products are made, transported and even consumed, opening up what some who study the phenomenon are calling the "robot economy", the report said.

Researchers, economists, engineers and business leaders predict that in the future, we will rely on robots to farm, produce goods and care for the elderly more than we do today.

Although no one has conducted a comprehensive global census of service robots, there are more than 1,000 companies producing service robots worldwide - ten times the number of companies making industrial robots. Suzanne Bieler, secretary general of the International Federation of Robotics, said that at least 121,000 service robots were installed in 2021, although this figure is certainly an underestimate. the number of service robots installed worldwide each year between 2020 and 2021 grew by 37%, a higher figure than the 31% average annual growth in industrial robots installed over the same period.