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Automation Market Size in Textile Industry is set to grow by USD 775.92 milllion from 2024-2028, Upgrading industrial facilities to improve energy efficiency to boost the market growth, Technavio

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NEW YORK, May 31, 2024 /PRNewswire/ — The global automation market size in textile industry  is estimated to grow by USD 775.92 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 3.75%  during the forecast period. 

For more insights on the forecast market size and historic data (2018 – 2022) – Download Free sample report in minutes 

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Component (Field devices, Control devices, and Communication), Solution (Hardware and software and Services), and Geography (APAC, Europe, North America, South America, and Middle East and Africa)

Region Covered

APAC, Europe, North America, South America, and Middle East and Africa

Key companies profiled

ABB Ltd., ATE Pvt. Ltd., Baumuller Nurnberg GmbH, BrainChild Electronic Co. Ltd., CLD Automation, Cotmac Electronics Pvt. Ltd., Delta Electronics Inc., Festo SE and Co. KG, Hitachi Ltd., Honeywell International Inc., KUKA AG, Lenze SE, Niagara Automations, Parker Hannifin Corp., Rockwell Automation Inc., SAURER AG, Schneider Electric SE, SIEGER SPINTECH EQUIPMENTS Pvt. Ltd., Siemens AG, and Yaskawa Electric Corp.

 

Key Market Trends Fueling Growth

ERP solutions play a crucial role in the textile industry by streamlining processes and enhancing communication between finance, production, procurement, supply, and warehouse departments. These systems help improve overall efficiency, reduce approval times, and coordinate functions for smoother operations. The implementation of ERP solutions is a significant factor driving the growth of the automation market in the textile industry. 

The textile industry is witnessing significant automation trends to enhance productivity and efficiency. Finishing processes, such as dyeing and coating, are being automated using technologies like robotics and digital systems. Producers are adopting automation to improve product quality and reduce manual labor. The use of productivity-enhancing tools like CNC machines and spinning machines is increasing.

Additionally, the implementation of IoT and AI technologies is enabling real-time monitoring and predictive maintenance. The market for automation in textiles is growing, with key players including KitTING, Dyeing, and Fabric Coating Robotics. The future of textile production lies in smart, automated factories. 

Market Challenges

The textile industry faces a significant challenge in securing a sufficient workforce with the necessary skills to operate automated textile facilities. Reports indicate that over 63,000 apprenticeship positions went unfilled in Germany alone in 2021. To address this issue, manufacturers must invest in training their existing workforce, which can be time-consuming and costly. Moreover, the competitive nature of the industry complicates employee retention, further hindering the growth of the automation market in textile manufacturing.The textile industry faces numerous challenges in implementing automation solutions. These include the complexity of the production process, the need for customization, and the high cost of implementation. The use of technology such as computerized cutting and production systems, as well as automation in finishing processes, can help increase efficiency and reduce errors. However, the integration of these systems can be difficult due to the variety of materials and processes involved. Additionally, the initial investment required for automation can be significant. To overcome these challenges, companies must carefully evaluate the benefits of automation and choose solutions that best fit their specific needs. This may involve working with experts in the field to design and implement customized automation systems. Ultimately, the adoption of automation in the textile industry can lead to increased productivity, improved quality, and cost savings.

Research report provides comprehensive data on impact of trend, driver and challenges – Download Free sample report in minutes 

Segment Overview 

Component 1.1 Field devices1.2 Control devices1.3 CommunicationSolution 2.1 Hardware and software2.2 ServicesGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Field devices-  The textile industry’s automation market is primarily driven by the high revenue generation of field devices. These essential components, including motors, drives, valves, and actuators, have distinct functions. Motors and drives control machinery speed and movements, while valves and actuators manage the dyeing process’s water flow. Due to frequent usage, these components require frequent replacement, leading to increased sales. The textile industry’s continuous upgrading and automation solutions investment further boost demand for field devices, ensuring market growth throughout the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

In the textile industry, automation has revolutionized various stages of textile processing, from blow room line to garment assembly. Automatic curling, autolevellers, and sensors have significantly improved effective carding, ensuring consistent fiber length and uniformity. Robotics and resolution technology have boosted process efficiency in the draw frame stage and finishing line.

Knitting and dyeing processes have been enhanced through automation, ensuring high-quality goods and reducing human error. Ginning and printing processes also benefit from automation, increasing factory production and maintaining consistent product resolution. Overall, automation in textile processing enhances raw material upgrading, leading to superior finished products.

Market Research Overview

The Automation Market in the Textile industry is experiencing significant growth due to the increasing demand for efficient and cost-effective production processes. Automation technologies such as robotics, machine learning, and artificial intelligence are being adopted to streamline manufacturing processes, improve product quality, and enhance operational flexibility.

The implementation of automation solutions in textile processing helps reduce labor costs, minimize human errors, and increase production capacity. Additionally, automation enables real-time monitoring and analysis of production data, allowing for better decision-making and optimizing resource utilization. Overall, automation is transforming the textile industry by improving productivity, reducing costs, and enhancing competitiveness.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentField DevicesControl DevicesCommunicationSolutionHardware And SoftwareServicesGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Prime Minister to travel to New York City to attend the United Nations General Assembly and the Summit of the Future

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OTTAWA, ON, Sept. 16, 2024 /CNW/ – The Prime Minister, Justin Trudeau, today announced that he will travel to New York City, United States of America, from September 22 to 25, 2024, to participate in the 79th Session of the United Nations General Assembly and the Summit of the Future. The Prime Minister will work closely with Canada’s international partners to strengthen democracy, take climate action, defend global security, and improve access to health care, including reproductive health.

As Co-Chair of the United Nations Sustainable Development Goals Advocates group, the Prime Minister will reaffirm Canada’s commitment to advancing ambitious international action toward the 2030 Agenda for Sustainable Development. This includes moving forward on shared work on education, climate change and biodiversity loss, and gender equality around the world.

At the Summit of the Future, the Prime Minister will join other leaders to take action on key global challenges and enhance ways to work together to secure a better future for everyone. The leaders will work to accelerate efforts on pressing global challenges, including sustainable development, international peace and security, technological innovation and digital co-operation, decarbonization and clean energy, and human rights.

Prime Minister Trudeau will co-host a discussion with the Prime Minister of Haiti, Garry Conille, to help mobilize the resources needed to address the crises the country is facing and support solutions that are Haitian-led and focused on the needs of the Haitian people. He will also co-host a high-level event with the President of the European Commission, Ursula von der Leyen, to promote action on climate change, carbon pricing, and industrial decarbonization.

Throughout his visit, the Prime Minister will collaborate with other leaders on pressing geopolitical challenges, including Russia’s ongoing war of aggression against Ukraine as well as the evolving situation in the Middle East. He will emphasize the importance of international efforts to safeguard peace and security around the world, including by defending democracy and strengthening the rules-based international order.

Achieving a more peaceful, stable, and prosperous world starts with unified global action. Canada’s unwavering commitment to the United Nations is a pledge to Canadians that we will do our part to build a better future for everyone.

Quote
“At this year’s United Nations General Assembly and at the Summit of the Future, Canada will have a leading role in making the world fairer and more prosperous. I look forward to working with other leaders to accelerate progress on our shared priorities and build a better future for everyone.”
— The Rt. Hon. Justin Trudeau, Prime Minister of Canada

Quick Facts

Canada has been active at the United Nations (UN) since its creation in 1945 and has played a key role in drafting the UN Charter, the treaty that is the cornerstone of the rules-based international order.Canada is the sixth-largest donor to the UN, including voluntary and assessed contributions totalling over US$2 billion in 2022.In 2015, Canada joined all UN Member States in adopting ambitious goals for sustainable development, as outlined in Transforming our World: The 2030 Agenda for Sustainable Development. The 2030 Agenda centres on a set of 17 Sustainable Development Goals (SDGs), encompassing the social, economic, and environmental dimensions of sustainable development. Taken together, the SDGs aim to improve the lives of all people, while protecting the planet.Released in 2021, Moving Forward Together: Canada’s 2030 Agenda National Strategy builds upon 30 actions and five core principles to create and foster an enabling environment for ongoing dialogue and participation to encourage Canadians to take action to realize the SDGs.In 2022, Prime Minister Trudeau was named Co-Chair, with the Prime Minister of Barbados, Mia Mottley, of the UN SDG Advocates group by UN Secretary-General António Guterres. SDG Advocates work to raise global awareness of the SDGs and of the need for accelerated action by using their respective platforms.In 2021, Canada launched the Global Carbon Pricing Challenge. This partnership aims to expand the use of pollution pricing by strengthening existing systems and supporting emerging ones. The Challenge also serves as a forum for dialogue and co-ordination to make pricing systems more effective and compatible while supporting other countries in adopting carbon pricing and cutting emissions on the path to net-zero by 2050.

Associated Links

Canada and the United NationsSummit of the FutureTransforming our World: The 2030 Agenda for Sustainable DevelopmentThe 2030 Agenda for Sustainable Development

This document is also available at https://pm.gc.ca

SOURCE Prime Minister’s Office

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NORTH STAR PROMISE DRIVES RECORD ENROLLMENT AT MINNESOTA’S PUBLIC COLLEGES AND UNIVERSITIES

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State Colleges and Universities See 7% Enrollment Surge; University of Minnesota Freshman Class Up 8%

SAINT PAUL, Minn., Sept. 16, 2024 /PRNewswire/ — North Star Prosperity released the following statement after public higher education institutions across the state reported a surge in enrollment thanks to the North Star Promise, a groundbreaking program designed to increase college access and affordability by providing tuition-free opportunities at public and tribal colleges for Minnesota residents making less than $80,000. It is the first time in over a decade that enrollment at Minnesota’s public colleges has increased.

North Star Prosperity led the campaign for North Star Promise, which Governor Tim Walz signed into law in May 2023.

“The North Star Promise program is a game-changer,” stated Mike Dean, Executive Director of North Star Prosperity. “We know that higher education is the most reliable path toward the middle class and yet for more than two decades, the cost of college has been out of reach for too many students. When we make education affordable and accessible, it’s an investment in the future of Minnesota’s workforce. Giving Minnesotans the tools to succeed in today’s economy is not only the right thing to do; it’s good business.”

For more information about the North Star Promise and how it benefits Minnesota residents, please visit www.northstarprosperity.org/freecollege or contact Mike Dean.

North Star Prosperity is fighting for an economy that works for all Minnesotans. Driven by our belief that everyone deserves a fair shot, we challenge the systemic roots of poverty and inequality by advocating for progressive economic policies that dismantle structural barriers and expand opportunity for all.

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SOURCE North Star Prosperity

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Mynaric Advances Production of CONDOR Mk3

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Shipments will support the Space Development Agency’s Tranche 1 program

MUNICH, Sept. 16, 2024 /PRNewswire/ —  Mynaric (NASDAQ: MYNA) (FRA: M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, today announced the successful advancement of the company’s volume production ramp for the CONDOR Mk3. Mynaric continues to work through previously announced production delays and has realized near-term improvement in production yields and supply chain-related bottlenecks. Production delays of CONDOR Mk3 were caused by lower than expected production yields and supplier shortages of key components.

“We remain committed to our mission to deliver laser communications products at scale to the market and meet our near-term customer requirements,” said Joachim Horwath, Chief Technology Officer and founder of Mynaric. “Despite the setbacks we faced over the past few months, our team has worked tirelessly to address these challenges. We have implemented solutions to ensure the smooth continuation of our production process.”

“We are happy to report that the technical challenges on the production ramp are being addressed and I am working with Joachim to ensure that Mynaric is well positioned for future success,” said Andreas Reif, Chief Restructuring Officer of Mynaric. “Moving forward, Mynaric will continue to meet the current requirements of our customers.”

Current shipments of the CONDOR Mk3 free space optical communications system will be part of the United States Space Development Agency (SDA) Tranche 1 program. Mynaric was selected by Northrop Grumman as the sole supplier of optical communications terminals for the SDA’s Tranche 1 Transport and Tracking Layer programs and by York Space Systems for the SDA’s Tranche 1 Transport Layer. Mynaric was also selected by Loft Federal to supply the CONDOR Mk3 terminals to NExT – the SDA’s Experimental Testbed.

In addition, Mynaric continues to pursue opportunities that explore the use of free-space optical communications for additional space programs. Mynaric has been recognized as a key development partner in Phase 2 of DARPA’s Space-BACN program, was selected by the European Space Agency (ESA) to investigate optical technologies for next generation high-throughput optical inter-satellite links and was selected by the German government for multiple projects to develop quantum communication capabilities.

In addition, Mynaric continues to diligently pursue additional capital sources to secure our on-going operations and production ramp. We continue to evaluate a number of different strategic options to address our near-term capital needs.

About Mynaric

Mynaric (NASDAQ: MYNA) (FRA: M0YN) is leading the industrial revolution of laser communications by producing optical communications terminals for air, space and mobile applications. Laser communication networks provide connectivity from the sky, allowing for ultra-high data rates and secure, long-distance data transmission between moving objects for wireless terrestrial, mobility, airborne- and space-based applications. The company is headquartered in Munich, Germany, with additional locations in Los Angeles, California, and Washington, D.C.

For more information, visit mynaric.com

MEDIA CONTACT
Krista Hazen                                                                                   
krista.hazen@mynaricusa.com   

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SOURCE Mynaric USA, Inc.

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