In 10 years, spending on robots overall will reach $67 billion, up from $15 billion spent in 2010, according to estimates from the Boston Consulting Group.
Higher adoption of robots, especially in the manufacturing of transport equipment, electronics and electrical appliances, could lead to a 22 percent reduction in labor costs in the United States by 2025, according to BCG.
Some Asian countries, particularly Japan and South Korea, will be adopting robots at a faster clip, since the populations in those countries are shrinking, BCG senior partner Hal Sirkin said in a phone interview.
While using more robots instead of humans makes sense from a financial standpoint, and will likely lead to job cuts, robots can replace workers in hazardous jobs that humans shouldn't have to do, BCG notes.
