In the current economic scenario, with unemployment rising and people worrying about the value of their money, it is clear that automation is one of the biggest trends of the future. Automation allows companies to run their businesses more efficiently and create new business opportunities for those who are talented but unable to go to work every day. The top five countries for automation growth are projected to be Mexico, India, Germany, Japan, and China. But which are the countries on the brink of leading the world in automation technology?
Mexico is one of the emerging high-tech countries in Latin America, and its economy relies heavily on manufacturing, oil, natural gas, tourism, finance, and technology. The country's current economic recession has caused many companies to downsize, or completely shutter, hundreds of offices across the country. This means that while Mexico is growing in terms of population, its infrastructure is still not up to the international standards. Mexico is arguably one of the best countries for automation growth because of the relatively high productivity growth aspirations it holds.
Automation has surged throughout the past two decades, as markets in the developed world stagnated while in emerging economies like India, growth prospects were high due to a rise in consumer spending. Consumer spending is one of the fastest-growing segments of any market, especially in the developing nations, where lower-income households continue to achieve extraordinary levels of purchasing power. Consumer spending also fuels the economies of countries like China and India, helping them offset the effects of global trade on their economies. However, Indian economists warn that while industrial output will continue to rise, future increases in productivity may fall short of what is needed to fully support the burgeoning economy.
Germany is another example of a country with a booming economy that is lagging behind in terms of industrialization thanks largely to stringent industrial control regulations. Germany is home to some of the most technologically advanced multinational corporations in the world. In response to the influx of workers from neighboring countries to fill vacant jobs in the German steel industry, the German government passed legislation in 2021 that bars most large corporations from outsourcing. While this policy may prevent international companies from taking advantage of cheaper labor in Germany, it has had a dramatic impact on the domestic automotive industry.
In Japan Automation hasn't always been the main driving force behind economic growth; they've traditionally been more reluctant to open the door to outsourcing. Still, their situation has changed recently with the passage of an open-trade agreement. The agreement allows South Korea and Japanese carmakers to take advantage of new technology developed in Europe and North America.
While there's no denying the incredible rise of Chinese industrialization over the past few decades, the presence of too many humans in the workplace is starting to cause problems. To combat this, China has been automating its factories in an effort to eliminate all the extra humans in the workforce. Automation has also been a key component of this process. Automated factories have started to spring up across the country in every major city, replacing manual labor and churning out cars, trucks, and products faster than ever before. It may be right to say that automation is taking over the world.