Robotics and automation to create 73,500 jobs
A report by Barclays bank has revealed that if manufacturers invested an additional £1.2 billion in automation and robotics it would create more than 100,000 jobs in the sector.
The ‘Future-proofing UK manufacturing’ report projects that the additional investment would increase the value of the manufacturing sector by £8.6 billion more to £191 billion by 2025.
The increased investment in automation will help to soften the expected long-term decline in the manufacturing sector jobs by safeguarding 73,500 additional workers in 2025. In addition, 32,300 more jobs will be supported the supply chain.
Mike Rigby, head of manufacturing at Barclays said: “This report highlights the importance of investing in robotics and automation for manufacturers as a potential solution to the on-going ‘productivity puzzle’. By investing an additional £1.2 billion in automation technologies over the next decade, the UK manufacturing sector is forecast to create an additional £60.5 billion of economic output and safeguard more than 105,800 jobs throughout the wider economy.
“However, to reap these rewards we need to address some of the barriers to investment including the need for more user-friendly and flexible technology, addressing skills barriers within the sector and supporting manufacturers to access the funding and information already available to them for robotics investment.”
The pharmaceutical and food manufacturing are set to gain the most from further investments in automation, with the research showing a more than 10% increase in output between 2016-2020 and close to a 25% rise between 2020-2025 for both sectors.