Global Megatrends Shaping the Future of Production: Demographic Change

In the coming years, industrial and emerging nations will have to come to terms with many different aspects of demographic change. But one demographic change in particular will carry tremendous influence over industry: an aging society, in which the percentage of older people rises while the percentage of children falls.

Rising global prosperity and medical advancements have led to a growing life expectancy the world over. At the same time, birth rates have dropped drastically worldwide, particularly in industrialized and emerging countries. According to forecasts, people over 65 will comprise between 20 and 30% of the total population in many countries by 2060.

This demographic trend carries tremendous implications for the labor market. In the years to come, proportionally fewer and fewer skilled workers will comprise the global workforce.

In order to avoid a skills shortage, companies must not only maintain and improve the health, expertise, and motivation of existing employees, but also establish a reputation as an attractive employer among young workers.

Furthermore, personnel requirements can be reduced by automating many tasks and processes. Industrial automation can free up the existing workforce for more challenging and fulfilling tasks that demand human creativity and ingenuity.

Particularly in the industrial sector, intelligent automation solutions play a meaningful role in creating an appealing work environment and preventing personnel shortages.

By automating monotonous, repetitive, and physically demanding tasks, digital manufacturing technologies make it possible to capitalize on uniquely human capabilities and strengths in other areas, thus promoting the health and motivation of employees.

One example are collaborative robots (cobots): responsive robots designed to work hand-in-hand with human workers. In the 4th Industrial Revolution, widespread human-robot collaboration  will open up entirely new concepts for increasing productivity without the need for additional skilled personnel. Cobots simultaneously lighten the physical and psychological burden on the employees while also ensuring that production results are consistent and of a very high standard.