The robot revolution won’t be driven by science fiction, according to Bank of America. It will be driven by demographics.
In a detailed research note, BofA Global Research projects that the global humanoid robot population will reach 3 billion units by 2060—surpassing the world’s roughly 1.5 billion cars on a per-capita basis. By that point, the bank estimates 62% of all humanoid robots, or roughly 2 billion units, will be deployed inside people’s homes. It’s a striking number for a product category with essentially zero market penetration today, but BofA points to an undeniable economic fact of 21st century life as a major motivator: there won’t be enough workers.
