Atlantic Slave Trade and the Industrial Revolution

I definitely know individual facts about both the Atlantic slave trade and the Industrial Revolution, but not much about how they are connected.

The Atlantic slave trade was a long history of Europeans coming to Africa and forcibly taking Africans from their homes and transporting them to colonies in the Americas via ship. The conditions on board the ships were incredibly inhumane, and many slaves died on the voyage.

The Industrial Revolution was a cultural phenomenon that occurred in England sometime in the 19th century or early 20th century. This was when people began to use machinery to produce goods instead of relying heavily on skilled workers. The Industrial Revolution caused an enormous change in the economy in England and in the rest of Europe because of how the increase in the number of products it was now possible to produce and the decrease in cost of production.

My hypothesis in how these two terms are related is that the Industrial Revolution caused a huge decrease in the demand for slaves in the Americas. Slaves' manual labor was now longer needed as much in these less developed colonies because now goods were being made by machinery back in Europe. Also, I think the Industrial Revolution was right around the time when slavery started to dry up.