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AI’s Impact on Industrial Robotics Services Market, Projected Growth of USD 7.46 Billion (2024-2028) Amid Rising Demand – Technavio Report

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NEW YORK, Aug. 23, 2024 /PRNewswire/ — The global industrial robotics services market size is estimated to grow by USD 7.46 billionn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 6.59%  during the forecast period. Surge in demand for industrial robots is driving market growth, with a trend towards technological innovations in industrial robotics services. However, high cost of services  poses a challenge. Key market players include ABB Ltd., Carl Cloos Schweisstechnik GmbH, Daihen Corp., DENSO Corp., Durr AG, FANUC Corp., General Electric Co., Hans Laser Technology Industry Group Co. Ltd., Jenoptik AG, Kawasaki Heavy Industries Ltd., MIDEA Group Co. Ltd., Mitsubishi Electric Corp., NACHI FUJIKOSHI Corp., OMRON Corp., Panasonic Holdings Corp., Seiko Epson Corp., Staubli International AG, Teradyne Inc., Universal Robots AS, and Yaskawa Electric Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Industrial Robotics Services Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 6.59%

Market growth 2024-2028

USD 7465.4 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.07

Regional analysis

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

Performing market contribution

APAC at 39%

Key countries

US, China, Japan, Germany, and South Korea

Key companies profiled

ABB Ltd., Carl Cloos Schweisstechnik GmbH, Daihen Corp., DENSO Corp., Durr AG, FANUC Corp., General Electric Co., Hans Laser Technology Industry Group Co. Ltd., Jenoptik AG, Kawasaki Heavy Industries Ltd., MIDEA Group Co. Ltd., Mitsubishi Electric Corp., NACHI FUJIKOSHI Corp., OMRON Corp., Panasonic Holdings Corp., Seiko Epson Corp., Staubli International AG, Teradyne Inc., Universal Robots AS, and Yaskawa Electric Corp.

Market Driver

Industrial robotics services are experiencing innovation driven by system integrators leveraging advanced technologies like the Internet of Things (IoT) and software platforms. These solutions primarily enhance commissioning and programming processes. Notable software offerings include ABB’s StampSynchro, StampWare, and StampMaster, YASKAWA ELECTRIC’s Advanced PP Customization software development kit (SDK), KUKA (Midea Group)’s KUKA.HMI, and FANUC’s Controller R-30iB. Vendors are also focusing on enhancing robot cell reconfigurability, with offerings like ReconCell, suitable for SMEs producing in small batches. ReconCell integrates force-based control, adaptation capabilities, 3D vision systems, exchangeable grippers, learning, interchangeable sections, and modular frame design. As vendors continue to advance industrial robotics services through simulation, programming, commissioning, and reconfigurability, more end-users will adopt these solutions to boost productivity, thereby fueling market growth during the forecast period. 

Industrial robotics is a growing market driven by automation needs across various industries. Key trends include the use of accessories like actuators and communication interfaces for customizability. Agriculture and construction sectors are adopting collaborative robots (cobots) for tasks like harvesting and construction. AI-enabled robots, such as those used in blood sample testing and high-tech testing labs, are revolutionizing industries like healthcare and electronics. Automotive and defense sectors are investing in robots for assembly lines and manufacturing defense equipment. Ground robots are being used in mining and construction. Existing infrastructure in sectors like cosmetics and food processing is being upgraded with robots for improved hygiene and productivity. Digitization and integration of robots with AVs and EVs are also driving growth. Initial capital expenditure can be a hindrance for enterprises, but the long-term benefits of increased efficiency and customizability outweigh the costs. Industrial robotics integrators play a crucial role in implementing factory automation techniques and ensuring seamless integration of hardware and controllers. 

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Market Challenges

Industrial robotics services involve various processes for end-users to deploy robots in their operations. Robot system integration includes contracts, bidding, evaluations, and software solutions for easy integration. Vendors need to invest significantly in system engineering to make the process smoother and reduce costs. Training sessions for operators and staff add to the total cost of ownership. Vendors should innovate to offer cost-effective solutions like virtual commissioning, offline programming, and simulation. High costs remain a significant challenge for the industrial robotics services market growth.The Industrial Robotics Services Market encompasses various industries such as metals & machinery, pharmaceuticals, rubber & plastic, and more. Robotics solutions are increasingly being adopted for tasks like packaging, production workflows, and even minimally invasive surgeries. Parallel, Scara, and Spherical robots are popular choices due to their payload-carrying capacity and workspace. Technological advancements in robotics include safety features like collision detection and teach pendants for easy programming. However, challenges persist. The production value chain must adapt to integrate robotics, requiring skilled workforce training. Traditional safety barriers in industries like residential sector and retail are being redefined. Robotics is transforming supply chain processes with smart manufacturing and unmanned vehicles. Despite these benefits, troubleshooting and safety concerns remain. Robot arms, vision systems, and mounting bases are essential components. The future of robotics lies in the seamless integration of robotic solutions into various industries, optimizing productivity, speed, and workforce skills.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This industrial robotics services market report extensively covers market segmentation by  

Application 1.1 Material handling1.2 Welding and soldering1.3 Assembly line1.4 OthersEnd-user 2.1 Healthcare and pharmaceuticals2.2 Automotive2.3 Food and beverages2.4 OthersGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Material handling-  The Industrial Robotics Services Market is experiencing significant growth due to increasing automation in manufacturing industries. Companies are investing in robotics to enhance productivity, improve quality, and reduce labor costs. Robotics services include installation, integration, maintenance, and training. Leading players in the market offer customized solutions to meet specific industry requirements. The market is expected to continue expanding as more businesses adopt automation to stay competitive.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Industrial Robotics Services Market is experiencing significant growth due to the increasing adoption of advanced robotic technologies in manufacturing and production processes. Collaborative robots, also known as cobots, are gaining popularity for their ability to work alongside human operators in shared workspaces. AI-enabled robots are revolutionizing industries by enabling automation and improving efficiency. Climate change is driving the demand for robotics in industries seeking to reduce labor wages and increase productivity. Hardware components such as robot arms, end effectors, vision systems, and IoT-based devices are essential for the functioning of industrial robots. Manipulator robots, equipped with safety features, are replacing traditional safety barriers in dedicated robot zones. Service robots are being used in professional and personal applications, from manufacturing to medical fields. Industrial robots come in various forms, from large manipulator robots to small collaborative robots. Actuators power the movement of these robots, while vision systems enable them to perceive and interact with their environment. The integration of Artificial Intelligence (AI) and collaborative capabilities is transforming the industrial robotics landscape, making human-robot collaboration safer and more efficient.

Market Research Overview

Industrial robotics is a dynamic and evolving market that encompasses various robotic solutions for automation in diverse industries. These robots include articulated, Cartesian, cylindrical, delta, gantry, parallel, and polar types, each designed for specific applications. Accessories such as actuators, communication interfaces, controllers, and mounting bases play crucial roles in their functionality. Industrial robots are increasingly being adopted in sectors like manufacturing, electrical & electronics, machinery, metals & machinery, automotive, defense, food-grade, pharmaceuticals, and agriculture. Robots are used for tasks like assembly, material handling, machine tending, loading and unloading, and packaging. Advancements in Artificial Intelligence (AI), IoT-based devices, and customizability have expanded robot applications. AI-enabled robots are now used in high-tech testing labs, medical, and logistics industries. Collaborative robots (cobots) are gaining popularity due to their ability to work alongside human operators, enhancing productivity and reducing labor wages. The agricultural sector is witnessing the integration of robots for tasks like crop monitoring, harvesting, and livestock care. Robots are also being used in the construction & demolition industry for tasks like bricklaying and debris removal. The production value chain is undergoing digitization, with robots being used to streamline production workflows and increase productivity. The initial capital expenditure for industrial robotics can be a hindrance for enterprises, but the long-term benefits in terms of productivity and efficiency make it a worthwhile investment. Robots are being used in various industries, from manufacturing to medical, to enhance productivity and streamline processes. From assembly lines to medical labs, robots are transforming the way we work. With advancements in technology, the possibilities for industrial robotics are endless.

Table of Contents:

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

ApplicationMaterial HandlingWelding And SolderingAssembly LineOthersEnd-userHealthcare And PharmaceuticalsAutomotiveFood And BeveragesOthersGeographyAPACEuropeNorth 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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Competition Bureau publishes report on Canada’s Competition Summit 2024

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GATINEAU, QC, Nov. 14, 2024 /CNW/ – Today, the Competition Bureau published a report highlighting the key takeaways from “Canada’s Competition Summit 2024: Market Dynamics in the AI Era,” which took place in Ottawa and virtually on September 16, 2024.

The event featured experts from domestic and international competition authorities, regulatory bodies, businesses and non-governmental organizations, as well as the legal and academic communities. The discussions focused on:

the current AI landscape;the impacts of AI on competition across markets; and,international and domestic regulatory approaches to AI.

The report published today summarizes 5 key takeaways from these discussions:

AI is having an impact on competition across sectors of the economy, presenting both opportunities and risks.Regulatory frameworks need to adapt to address the unique challenges posed by AI.International cooperation is crucial for effective regulation and enforcement in AI-driven markets.There is a need for transparency in AI systems to ensure accountability and consumer trust.The role of big tech in AI development is contentious.

The Bureau thanks all attendees, panelists and speakers, who helped advance the conversation on these emerging issues related to AI. We look forward to continuing to discuss competition policy issues and opportunities at Competition Summits in the years to come.

Quotes

“As Canada’s competition watchdog, the Competition Bureau needs to be at the forefront of AI and understand its impact on the competitive landscape. I am thankful for the important contributions from our panelists and speakers at this year’s Summit, as they will help us continue to build our understanding of AI’s impacts on competition.”

Matthew Boswell,
Commissioner of Competition

Quick facts

This year’s event was the fifth annual edition of Canada’s Competition Summit. Previous Summits covered digital enforcement (2020), competition and growth (2021), green growth (2022), and whole-of-government approaches to policy (2024).Over 500 participants from Canada and abroad attended the 2024 Summit.This year’s Summit is part of our ongoing work to better understand AI, how it might affect competition, and how we can address potential anticompetitive harm from AI and promote competition in AI markets. This work also includes cross-governmental collaboration through the Canadian Digital Regulators Forum and a consultation on the Discussion Paper on Artificial intelligence and competition earlier in 2024.In keeping with the theme of this year’s Summit, this report was drafted using a combination of human effort and AI technology. This is a first for the Bureau. We used an artificial intelligence program to summarize the discussions held at Canada’s Competition Summit 2024 and to develop the first draft of these key takeaways. The final content was fact-checked and quality-controlled by Bureau personnel.

Related products

Report on Summit 2024: Competition in the AI EraCanada’s Competition SummitCompetition Bureau to host summit on competition and artificial intelligence this SeptemberCanada’s Competition Summit 2024: Competition Bureau releases details about panels and expert participants

Associated links

Exploring policy approaches to unlock competition (2023)The Competition and Green Growth Summit (2022)The Competition and Growth Summit (2021)Digital Enforcement Summit (2020)Artificial intelligence and competition: Discussion paper (2024)Canadian Digital Regulators Forum

General information:

Request for information | Complaint form

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The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth.

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Shipt Saves the Season with Unbeatable Convenience, Exclusive Promotions, and Membership Savings

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Get everything from gifts to hosting essentials reliably delivered via Shipt

BIRMINGHAM, Ala., Nov. 14, 2024 /PRNewswire/ — This holiday season, Shipt is spreading cheer with delightful same-day delivery, unmatched deals, and everything customers need all season long. From hosting family dinners to searching for the perfect gifts to grabbing last-minute holiday essentials and toasting to the new year*, Shipt helps ease the stress with exclusive promotions and 50% off its annual membership for a limited time.

To sweeten holiday shopping, Shipt is launching Season of Savings, an annual event packed with discounts and surprises on the products customers want all season long. Plus, Shipt has added over 2,000 new retail locations nationwide this year, including Ulta Beauty at Target, The Fresh Market, Lowe’s, and local favorites like Giant Eagle and Save Mart, giving members even more curated options. These new additions join favorites like Target, CVS, and Petsmart, as well as beloved local grocers.

SHIPT MEMBERSHIP: CONVENIENCE MEETS HOLIDAY MAGIC
Shipt’s $49 annual membership promotion (regularly $99) is now available through January 4, 2025, making it easier than ever to enjoy same-day delivery from your favorite stores. With an annual membership, customers get unlimited same-day delivery on orders over $35 and exclusive savings, and a range of members-only perks.

DEALS ACROSS ALL HOLIDAY NEEDS

In addition to the membership promotion, Shipt’s Season of Savings also features incredible deals across a wide variety of popular holiday categories, including:

Season-Long Deals (November 1-January 1)

$15 off your order of $60 or more with code HOLIDAY15**Half-off annual membership $49 (reg. $99) with code SHIPTGIFT

Thanksgiving Deals

November 10-16, at Target and all grocery stores***:Spend $25, get $10 on household essentialsBuy one, get one 50% off on bath and body productsBuy one, get one 30% off on cough, cold, and flu, pain and fever, vitamins and supplements30% off kitchen and diningSpend $20, save $5 on baby essentials30% off pet essentials10% off turkeyNovember 17-23: $10 off order of $50+ for those with Shipt student membershipsNovember 25-27: spend $35, save $10 on on last-minute Thanksgiving essentials at all grocery stores and Target****

December Holiday Deals

December 1-14: 25% off orders of $40 or more from Ulta Beauty at Target, CVS, Walgreens, PetSmart, Petco, Lowes, Carters, Office Depot, and Office Max (max savings of $10)*****December 8-24: 20% off top gifting categories at Target + Meijer (Shipt members only)******

ALL-NEW GIFT CARD EXPERIENCE
Not sure what to give that special someone? A Shipt gift card is the perfect gift!

A Shipt gift card never expires, and with an all-new digital facelift, including multiple card designs and e-gifting options, a Shipt gift card lasts beyond the holiday season. And even better, take advantage of the season-long 50% off membership offer when purchasing an annual membership gift card. Terms and conditions apply. Please check out shipt.com/gift for more information.

SHIPT TO THE RESCUE: HOW IT WORKS
No matter how hectic the holiday calendar gets, Shipt makes shopping stress-free:

Download the Shipt app or visit Shipt.com to sign up for a membership or take advantage of a 14-day free trial**. Target Circle 360 members can enable access to the Shipt marketplace by visiting shipt.com/target-circle-360. Choose the store you wish to order from.Build your shopping list with a wide range of categories, from fresh groceries to festive decorations.Select a convenient delivery window and a trusted shopper with Shipt will shop your order, communicating with you about out-of-stocks, relevant substitutions and where they are in the shopping process (option to select back-ups for products out of stock ahead of time).

To learn more about Shipt’s holiday offers and start saving today, visit www.shipt.com or download the Shipt app.

About Shipt
Shipt is a retail tech company that connects people to reliable, high-quality delivery with a personal touch. Through the power of technology, Shipt connects customers to the things they want from the stores they love, workers to new earning opportunities, and retail businesses to more satisfied customers. Headquartered in Birmingham, Alabama, Shipt brings people the flexible solutions they need with the above-and-beyond service they expect. Shipt is an independently operated subsidiary of Target Corp. and is available to 80% of the U.S. population. For more information, please visit Shipt’s Newsroom.

*States with alcohol delivery availability: Alabama, Arizona, California, Connecticut, District of Columbia, Florida, Hawaii, Illinois, Kentucky, Massachusetts, Michigan, Minnesota, Missouri, North Carolina, Nebraska, Ohio, Tennessee, Texas, Georgia, Iowa, Idaho and Mississippi

**Offer valid for new customers only, returning customers are ineligible. 14 day trial will renew at the applicable membership rate at the end of the trial. Cancellation available free of charge anytime during trial. Offer is subject to Shipt Promotion Terms and Conditions. Deliveries under $35 with a membership will incur a $7 fee. All orders with alcohol (where available) may incur a $7 alcohol fee. Service fees may apply and will vary by retailer and location. See Terms of Service

***Offer expires 11/16/2024. Discount available at select retailers and applies to select items. Discount applied automatically at check out for qualifying orders. Limit one per order. Promotion is subject to Terms and Conditions.

****Purchase of qualifying products at select retailers of $35 or more must be placed by 11/27/2024 at 11:59 p.m. HT to qualify for $10 off, which will automatically apply to qualifying order at checkout. Limit 1 credit per member. Offer is subject to Shipt Promotional Terms and Conditions.

*****Store availability varies by location. Offer valid 12/1/24 through 12/14/24. Carter’s, CVS, Lowe’s, Office Depot OfficeMax, PetSmart, Petco, Walgreens, or Ulta Beauty at Target order of $40 or more must be placed by 12/14/24 at 11:59 p.m. HT to qualify for max savings of $10, which will automatically apply to qualifying order at checkout. Offer not valid for orders containing alcohol items. Limit 1 credit per member. Offer is subject to Shipt Promotional Terms and Conditions.

******Purchase of qualifying products at Target or Meijer must be placed by 12/24/2024 at 11:59 p.m. HT to qualify for 20% off, which will automatically apply to a qualifying order at checkout. Limit 1 credit per member. Offer is subject to Shipt Promotional Terms and Conditions.

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Kearney Launches Geopolitical Service Line to Give Executives New “One-Stop-Shop” for Navigating Elevated Global Uncertainty

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WASHINGTON, Nov. 14, 2024 /PRNewswire/ — Kearney, a leading global management consulting firm, today announced the launch of its newest offering, aimed at helping clients steer their companies through our ever-changing world. Kearney’s Geopolitical Dynamics provides executives with a holistic solution to navigate today’s elevated instability and its impact on business.

In a new era marked by persistent economic uncertainty, regulatory shifts, great power competition, and corresponding escalations, executives face an unprecedented volume of challenges and new opportunities. A recent Kearney assessment determined that fewer than 20% of Fortune 500 companies are ready for this “new era,” defined by heightened geopolitical and economic volatility, a shift from globalization to regionalization, and the emergence of artificial intelligence.

While traditional geopolitical advisory models served clients well in a more stable environment, today’s persistent uncertainty calls for a new approach. Kearney is stepping up with a comprehensive, end-to-end solution that enables executives to proactively navigate complexity and transform it into a catalyst for opportunity. Geopolitical Dynamics offers clients a path to accelerate the development of their in-house capabilities to navigate the implications for their strategy, operations, and people, mitigating risks and capitalizing on emerging trends along the way.

“After 40 years of operating in a globalized landscape, executives now face the urgent challenge of building internal capabilities to navigate heightened geopolitical instability. They must address immediate threats to business while managing long-term planning of markets, supply chains, and the broader enterprise,” said Drew DeLong, Global Lead of Geopolitical Dynamics at Kearney. “This new service is designed to give executives a one-stop shop to navigate with confidence and stay ahead.”

Geopolitical Dynamics offers a comprehensive suite of services that covers every stage of geopolitical management:

Granular Business Intelligence: Anticipating the “what’s next” and “what’s to come” at a granular level in partnership with an expansive global network of intelligence, government, and industrial partners.

Executive Priority Setting: Aligning executive teams and boards around where and why priorities should be set based on all readily available intelligence and business-specific nuances using tabletop exercises, granular scenario planning, and targeted diligences.

Operational Execution: Mobilizing supply chains and enterprise footprints to respond to immediate and long-term needs (including contingencies), leveraging nearly 100 years of Kearney’s heritage and excellence in strategic operations.

Geopolitical Org Ownership: Defining who and how geopolitics are owned and managed within the business today—at the board, CEO staff, and management levels—including the charting of Geopolitical Units and deploying Government Affairs to drive business outcomes through targeted government engagement that drives competitive industrial strategy.

This approach provides a simple but powerful solution to anticipate, plan, and respond faster to emerging threats and opportunities with clarity, speed, and ownership while minimizing disruption to the business—something that is critical to the executive agenda today.

“Boards and leadership teams can no longer afford to treat geopolitical matters in isolation from the standard course of business,” noted Colette LaForce, independent Board Director, Kearney advisor, and former CXO of Dell Services and AMD. “The C-suite needs a streamlined solution that cuts through generic intelligence, aligns our teams, and enables rapid response. Kearney has built a model that is designed to do just that for organizations of all sizes and in all sectors.”

This offering will draw on Kearney’s expansive capabilities to offer executives truly differentiated insights: product design analysis from PERLab, on-the-ground data from reshoring experts, market insights from the Consumer Institute, detailed trends from the Supply Chain Institute, and macroeconomic forecasts from the Global Business Policy Council.

For more information about how Kearney’s Geopolitical Dynamics capability will help you navigate the road ahead, please visit Geopolitical Dynamics or contact one of our experts listed below.

Drew DeLongDrew.Delong@kearney.com

Doug MehlDoug.Mehl@kearney.com

Ben T. Smith, IVBen.Smith@kearney.com

About Kearney

Kearney is a leading global management consulting firm. For nearly 100 years, we have been a trusted advisor to C-suites, government bodies, and nonprofit organizations. Our people make us who we are. Driven to be the difference between a big idea and making it happen, we work alongside our clients to regenerate their businesses to create a future that works for everyone. To learn more about Kearney, please visit www.kearney.com.

Press contact 

US media contact:
Meir Kahtan
MKPR
mkahtan@rcn.com
+1 917-864-0800

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SOURCE Kearney

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