Connect with us

Technology

The Motion Control Market is projected to expand by USD 5.7 billion from 2024 to 2028, driven by the integration of digital drives with motion control systems, AI-powered report- Technavio

Published

on

NEW YORK, Aug. 28, 2024 /PRNewswire/ — Report on how AI is driving market transformation- The global motion control market  size is estimated to grow by USD 5.69 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 6.03%  during the forecast period.  Integration of motion control systems with digital drives is driving market growth, with a trend towards growing adoption of iot in the motion control industry. However, inherent challenges related to use of automated systems  poses a challenge. Key market players include ABB Ltd., ACS Motion Control Ltd., ADVANCED Motion Controls, Aerotech Inc., Beckhoff Automation GmbH and Co. KG, Delta Computer Systems Inc., Dover Motion, Eaton Corp. Plc, Galil Motion Control, Kollmorgen Corp., Mitsubishi Electric Corp., Moog Inc., Nanotec Electronic GmbH and Co. KG, OMRON Corp., Parker Hannifin Corp., Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yaskawa Electric Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Application (Metal and machinery manufacturing, Packaging and labeling, Robotics, Semiconductor and electronics, and Others), Product (Electronic devices, Actuators, AC drives, Motion controllers, and Others), and Geography (APAC, North America, Europe, Middle East and Africa, and South America)

Region Covered

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

Key companies profiled

ABB Ltd., ACS Motion Control Ltd., ADVANCED Motion Controls, Aerotech Inc., Beckhoff Automation GmbH and Co. KG, Delta Computer Systems Inc., Dover Motion, Eaton Corp. Plc, Galil Motion Control, Kollmorgen Corp., Mitsubishi Electric Corp., Moog Inc., Nanotec Electronic GmbH and Co. KG, OMRON Corp., Parker Hannifin Corp., Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yaskawa Electric Corp.

Key Market Trends Fueling Growth

The Internet of Things (IoT) is revolutionizing industries by enabling real-time data collection and transmission from various devices, including sensors and actuators. This data empowers end-users to make informed decisions, driving the adoption of IoT in various sectors. Motion control systems, including programmable multi-axis motion controllers, are increasingly being connected to IoT networks. These systems consist of components such as servo drives, motors, gearboxes, and software. Ethernet-based networks, like EtherCAT, are facilitating this connectivity. For instance, Galil Motion Control’s EDD-3701x series and OMRON’s NX1P Machine Automation Controller offer extensive IoT capabilities. These controllers can collect data from sensors via IO-Link and EtherCAT, enabling predictive maintenance and real-time decision-making. The adoption of IoT in motion control systems is expected to improve performance, efficiency, and accessibility of built-in machine intelligence. IoT also facilitates high-speed operations with minimal effort and enables early detection of anomalies or deviations from quality indicators. These factors will continue to drive the growth of the motion control market during the forecast period. 

The Motion Control Market is experiencing significant growth due to trends like digitalization, AI, and automation. Digitalization is driving the adoption of motion controllers for precise target positions and trajectories in various industries. Renewable energy sectors like solar and wind power are integrating motion control systems for resource utilization and waste reduction. Safety is a top priority, with motion controllers ensuring worker safety in compressor stations and metal cutting applications. AI and self-organizing factories enable autonomous decision-making, reducing production downtime and replacement expenses. Cloud technology, real-time data analysis, and remote monitoring enable efficient resource utilization and waste reduction. Motion control systems are essential for industrial robots, servo motors, and machinery in smart factories. Communication protocols ensure seamless integration with sensors and other systems. Advanced motion controls are vital for energy-efficient solutions in factories, including heavy maintenance and servicing. Closed-loop systems offer improved accuracy and stability, while open-loop systems provide cost-effective solutions for manual controls. Motion control systems are essential for automation in various industries, from manufacturing to renewable energy. The market continues to evolve, focusing on energy-efficient solutions and reducing overall time and costs. 

Discover a Comprehensive 360° Market Analysis: Understand the Impact of AI. For detailed information- Request Sample!

Market Challenges

Businesses worldwide face the challenge of adapting to dynamic market conditions, necessitating the need for upgrading motion control systems in various industries. However, the inflexibility and high costs associated with automated systems, particularly those equipped with hydraulic equipment, deter small and medium enterprises (SMEs) from making the necessary upgrades. The replacement or upgrade of motion control systems is a time-consuming and costly process, involving significant investments in research and development (R&D) for vendors to remain competitive. Advanced motion control systems require substantial initial investments, and stringent regulations and standards necessitate additional capital expenditures. Customization also increases production costs, as vendors must design equipment according to clients’ specific applications and requirements. These high capital investments and R&D costs pose a significant challenge to vendors, limiting their profitability and market growth during the forecast period.Motion control market is experiencing significant growth due to the increasing automation in factories and machinery. The integration of robotic systems, sensors, and communication protocols in motion control systems is driving this trend. Smart factories and energy-efficient solutions are the new norm, with manufacturing companies seeking to reduce replacement expenses and save time through advanced motion controls. However, challenges remain. Heavy maintenance and servicing can be time-consuming and costly. The Industrial Revolution 4.0 brings new technologies like real-time communication, artificial intelligence (AI), and Industrial IoT (IIoT) to the table, but implementing these requires investment and expertise. Motion control systems must be precise and energy-efficient, with motors, servo drives, and variable frequency drives playing crucial roles. The automotive sector, e-commerce, logistics, and dosage formulations are major industries adopting motion control technology. Warehouse automation, robotics, and position controls are also gaining popularity. Connected machines, digital twins, and edge computing are modern technologies transforming motion control. However, ensuring safety and minimizing accidents remains a challenge. Overall, the motion control market is evolving, with sensors and feedback, step motors, and communication protocols playing essential roles.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This motion control market report extensively covers market segmentation by

Application 1.1 Metal and machinery manufacturing1.2 Packaging and labeling1.3 Robotics1.4 Semiconductor and electronics1.5 OthersProduct 2.1 Electronic devices2.2 Actuators2.3 AC drives2.4 Motion controllers2.5 OthersGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Metal and machinery manufacturing-  The Motion Control Market refers to the industry that produces and supplies systems and components for automating the movement of machinery and robots. These systems enable precise and controlled motion, enhancing manufacturing efficiency and productivity. Key players in this market include Bosch Rexroth, Schneider Electric, and Siemens. Market growth is driven by increasing automation in various industries, such as automotive, electronics, and food and beverage.

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

Research Analysis

Motion control systems play a crucial role in automation, powering machinery and robotic systems to enhance manufacturing processes. These systems utilize motors, drives, position controls, and sensors for precise movement and feedback in factories. Energy-efficient solutions are a priority, integrating industrial IoT (IIoT) and connected machines to optimize resource utilization and reduce waste. Smart factories leverage control algorithms, artificial intelligence (AI), and self-organizing systems for improved production efficiency, reduced downtime, and enhanced worker safety. Remote monitoring capabilities enable real-time data analysis and proactive maintenance, further boosting productivity and profitability. Warehouse automation and robotics are also significant applications, streamlining logistics and inventory management.

Market Research Overview

Motion control systems play a crucial role in automating factories and machinery, enabling precision, speed, and energy efficiency in various industries. These systems utilize servo drives, variable frequency drives, and motors to control the movement of automated equipment, from industrial robots to dosage formulations and compressor stations. Advanced motion controls incorporate sensors and feedback, communication protocols, and real-time data analysis for improved resource utilization and waste reduction. The Industrial Revolution 4.0, driven by information technology, digitalization, and modern technologies, has accelerated the adoption of motion control systems in smart factories and warehouses. Industrial IoT (IIoT) and connected machines enable real-time communication, digital twins, edge computing, and autonomous decision-making. Motion control systems are essential in manufacturing sectors like automotive, e-commerce, logistics, and renewable energy, ensuring safety, energy efficiency, and production optimization. With the integration of artificial intelligence (AI), motion controllers can optimize target positions, trajectories, and control algorithms for resource utilization and worker safety. Heavy maintenance and servicing are reduced through remote monitoring and real-time data analysis, minimizing downtime and replacement expenses. Motion control systems cater to various applications, including metal cutting, solar power, wind power, and compressor stations, ensuring optimal performance and precision.

Table of Contents:

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

ApplicationMetal And Machinery ManufacturingPackaging And LabelingRoboticsSemiconductor And ElectronicsOthersProductElectronic DevicesActuatorsAC DrivesMotion ControllersOthersGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

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/

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-motion-control-market-is-projected-to-expand-by-usd-5-7-billion-from-2024-to-2028–driven-by-the-integration-of-digital-drives-with-motion-control-systems-ai-powered-report–technavio-302232880.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

NASA Awards $1.5 Million at Watts on the Moon Challenge Finale

Published

on

By

WASHINGTON, Sept. 20, 2024 /PRNewswire/ — NASA has awarded a total of $1.5 million to two U.S. teams for their novel technology solutions addressing energy distribution, management, and storage as part of the agency’s Watts on the Moon Challenge. The innovations from this challenge aim to support NASA’s Artemis missions, which will establish long-term human presence on the Moon.

This two-phase competition has challenged U.S. innovators to develop breakthrough power transmission and energy storage technologies that could enable long-duration Moon missions to advance the nation’s lunar exploration goals. The final phase of the challenge concluded with a technology showcase and winners’ announcement ceremony Friday at Great Lakes Science Center, home of the visitor center for NASA’s Glenn Research Center in Cleveland.

“Congratulations to the finalist teams for developing impactful power solutions in support of NASA’s goal to sustain human presence on the Moon,” said Kim Krome-Sieja, acting program manager for NASA Centennial Challenges at NASA’s Marshall Space Flight Center in Huntsville, Alabama. “These technologies seek to improve our ability to explore and make discoveries in space and could have implications for improving power systems on Earth.”

The winning teams are:

First prize ($1 million): High Efficiency Long-Range Power Solution of Santa Barbara, CaliforniaSecond prize ($500,000): Orbital Mining Corporation of Golden, Colorado

Four teams were invited to refine their hardware and deliver full system prototypes in the final stage of the competition, and three finalist teams completed their technology solutions for demonstration and assessment at NASA Glenn. The technologies were the first power transmission and energy storage prototypes to be tested by NASA in a vacuum chamber mimicking the freezing temperature and absence of pressure found at the permanently shadowed regions of the Lunar South Pole. The simulation required the teams’ power systems to demonstrate operability over six hours of solar daylight and 18 hours of darkness with the user three kilometers (nearly two miles) away from the power source.

During this competition stage, judges scored the finalists’ solutions based on a Total Effective System Mass (TESM) calculation, which measures the effectiveness of the system relative to its size and weight – or mass – and the total energy provided by the power source. The highest-performing solution was identified based on having the lowest TESM value – imitating the challenges that space missions face when attempting to reduce mass while meeting the mission’s electrical power needs.

Team H.E.L.P.S. (High Efficiency Long-Range Power Solution) from University of California, Santa Barbara, won the grand prize for their hardware solution, which had the lowest mass and highest efficiency of all competitors. The technology also featured a special cable operating at 800 volts and an innovative use of energy storage batteries on both ends of the transmission system. They also employed a variable radiation shield to switch between conserving heat during cold periods and disposing of excess heat during high power modes. The final 48-hour test proved their system design effectively met the power transmission, energy storage, and thermal challenges in the final phase of competition.

Orbital Mining Corporation, a space technology startup, received the second prize for its hardware solution that also successfully completed the 48-hour test with high performance. They employed a high-voltage converter system coupled with a low-mass cable and a lithium-ion battery.

“The energy solutions developed by the challenge teams are poised to address NASA’s space technology priorities,” said Amy Kaminski, program executive for Prizes, Challenges, and Crowdsourcing in NASA’s Space Technology Mission Directorate at NASA Headquarters in Washington. “These solutions support NASA’s recently ranked civil space shortfalls, including in the top category of surviving and operating through the lunar night.”

During the technology showcase and winners’ announcement ceremony, NASA experts, media, and members of the public gathered to see the finalist teams’ technologies and hear perspectives from the teams’ participation in the challenge. After the winners were announced, event attendees were also welcome to meet NASA astronaut Stephen Bowen.

The Watts on the Moon Challenge is a NASA Centennial Challenge led by NASA Glenn. NASA Marshall Space Flight Center manages Centennial Challenges, which are part of the agency’s Prizes, Challenges, and Crowdsourcing program in the Space Technology Mission Directorate. NASA contracted HeroX to support the administration of this challenge.

For more information on NASA’s Watts on the Moon Challenge, visit:

https://www.nasa.gov/wattson

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/nasa-awards-1-5-million-at-watts-on-the-moon-challenge-finale-302254470.html

SOURCE NASA

Continue Reading

Technology

Kits Eyecare Ltd. Files Final Prospectus For Secondary Offering of Common Shares

Published

on

By

Final Short Form Prospectus Accessible on SEDAR+

/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, BC, Sept. 20, 2024 /CNW/ – Kits Eyecare Ltd. (TSX: KITS) (“KITS” or the “Company”), a leading vertically integrated eyecare provider, is pleased to announce that it has filed with the securities regulatory authorities in each of the provinces of Canada, other than Québec, and obtained a receipt for, a final short form prospectus (the “Final Prospectus”) in connection with the previously announced secondary offering of common shares of the Company (the “Common Shares”) pursuant to which Canaccord Genuity Corp., as sole bookrunner and co-lead underwriter, together with Beacon Securities Limited, as co-lead underwriter, on behalf of a syndicate of underwriters (collectively, the “Underwriters”) have agreed to purchase, on a bought deal basis, an aggregate of 1,125,000 Common Shares held by Roger Hardy and entities managed by Roger Hardy (the “Hardy Shareholders”), LD Group Holdings Ltd. (“LD Group”) and Joseph Thompson (together with the Hardy Shareholders and LD Group, the “Selling Securityholders”) at an offering price of $10.15 per share (the “Offering Price”) for total gross proceeds to the Selling Securityholders of $11,418,750 (the “Offering”). KITS will not receive any proceeds from the Offering.

The Underwriters have also been granted an over-allotment option (the “Over-Allotment Option”) to purchase up to an additional 168,750 Common Shares from the Selling Securityholders at the Offering Price for additional gross proceeds of $1,712,812.50 if the Over-Allotment Option is exercised in full. The Over-Allotment Option can be exercised at any time, in whole or in part, for a period of 30 days from the closing date of the Offering, which is expected to occur on or about September 26, 2024 and is subject to certain customary closing conditions.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, and applicable U.S. state securities laws.

Access to the Final Prospectus and any amendment is provided in accordance with securities legislation relating to procedures for providing access to a short form prospectus and any amendment. The Final Prospectus is accessible on SEDAR+ at www.sedarplus.ca. An electronic or paper copy of the Final Prospectus and any amendment may be obtained, without charge, from Canaccord Genuity Corp. at ecm@cgf.com by providing the contact with an email address or address, as applicable.

About KITS

KITS makes eyecare easy. KITS is a leading vertically integrated digital eyecare brand providing eyewear for eyes everywhere. We offer customers access to a vast selection of contact lenses and eyeglasses, including our own exclusive KITS designed products, as well as a robust suite of online vision tools. Our efficient digital platform, backed by our industry-leading manufacturing and designs, removes intermediaries, and enables us to offer great prices and deliver made to order personalized products with incredible care and accuracy. We are creating disruption in the industry by constantly pursuing cutting-edge technologies to enable the best customer experience, including online eyewear fitting tools, and virtual try-on for glasses. We strive to delight our customers with our competitive prices, a convenient digital shopping experience, fast and reliable delivery options, and an unrelenting focus on earning our customers’ lifelong trust. For more information on KITS, visit: www.kits.com.

Forward-Looking Information

Certain information in this press release, including statements relating to the closing date of the Offering, and the exercise by the Underwriters of the Over-Allotment Option, constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by KITS as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail under the “Risk Factors” sections of the management’s annual information form, discussion and analysis of financial condition and results of operations of KITS for the 3-month and 6-month periods ended June 30, 2024, each available at www.sedarplus.ca. These factors are not intended to represent a complete list of the factors that could affect KITS; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. In particular, the closing of the Offering is subject to customary closing conditions and there can be no assurance that all such conditions will be satisfied. The forward-looking statements contained in this press release are made as of the date of this press release, and KITS expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE KITS Eyecare Ltd.

Continue Reading

Technology

Disparities Narrowing Among Patients Undergoing Blood Stem Cell Transplant, Roswell Park Study Reveals

Published

on

By

Historically, some patients with blood cancers have been less likely than others to receive stem cell transplant, also known as bone marrow transplant. Theresa Hahn, PhD, of Roswell Park is lead author of a new study showing that older adults and Black patients are much less likely than people from other groups to receive a blood stem cell transplant.

BUFFALO, N.Y., Sept. 20, 2024 /PRNewswire-PRWeb/ —

Study led by Dr. Theresa Hahn published in JAMA Network OpenNumber of transplants for blood cancers rose from 2009 to 2018Research team analyzed trends in transplant utilization for that period

Every year, more than 22,000 patients in the U.S. undergo a potentially lifesaving blood stem cell transplant — often called a “bone marrow transplant” — for the treatment of hematologic diseases. But historically, some patients with blood cancers have been less likely than others to receive the treatment. Theresa Hahn, PhD, of Roswell Park Comprehensive Cancer Center is lead author of a new study in the journal JAMA Network Open showing that while progress has been made in reducing those disparities, older adults and Black patients are much less likely than people from other groups to receive a blood stem cell transplant.

“This study shows that while progress has been made to reduce disparities among racial and ethnic groups, there’s a need to improve hematopoietic cell transplant utilization rates in older adults and in Black patients of all ages.” — Theresa Hahn, PhD, Roswell Park Comprehensive Cancer Center

The research team analyzed data provided by the Center for International Blood and Marrow Transplant Research (CIBMTR) for 136,280 patients who underwent hematopoietic cell transplant (HCT) in the U.S. between 2009 and 1018, comparing those numbers with the incidence of six blood cancers (acute myeloid and lymphoblastic leukemia, multiple myeloma, Hodgkin and non-Hodgkin lymphoma and myelodysplastic syndrome) in various age, race and ethnic groups the U.S. as reported by the National Cancer Institute’s Surveillance Epidemiology and End Results (SEER) Program.

The team found that during that period, the use of HCT increased for the treatment of most blood cancers — and rose among all age, race and ethnic groups.

The researchers also discovered that in the most recent years analyzed, from 2017-2018:

The rate of HCT utilization for blood cancers rose among Hispanic and younger patients to equal the rate of non-Hispanic white patients.Non-Hispanic Black patients had a lower rate of HCT for all six diseases studied.Pediatric, adolescent and young adult patients had a higher rate than adult patients of allogeneic HCT, which involves receiving cells from a healthy donor.

“This study shows that while progress has been made to reduce disparities among racial and ethnic groups, there’s a need to improve hematopoietic cell transplant utilization rates in older adults and in Black patients of all ages,” says Dr. Hahn, Professor of Oncology in the Department of Cancer Prevention and Control at Roswell Park and the study’s first author.

The research team also include Dr. Hahn’s Roswell Park colleague Megan Herr, PhD, and collaborators from the Medical College of Wisconsin, Milwaukee; the CIBMTR; and the Mayo Clinic.

From the world’s first chemotherapy research to the PSA prostate cancer biomarker, Roswell Park Comprehensive Cancer Center generates innovations that shape how cancer is detected, treated and prevented worldwide. Driven to eliminate cancer’s grip on humanity, the Roswell Park team of 4,000 makes compassionate, patient-centered cancer care and services accessible across New York State and beyond. Founded in 1898, Roswell Park was among the first three cancer centers nationwide to become a National Cancer Institute-designated comprehensive cancer center and is the only one to hold this designation in Upstate New York. To learn more about Roswell Park Comprehensive Cancer Center and the Roswell Park Care Network, visit http://www.roswellpark.org, call 1-800-ROSWELL (1-800-767-9355) or email ASKRoswell@RoswellPark.org.

Media Contact

Julia Telford, Roswell Park Comprehensive Cancer Center, 716-845-4919, julia.telford@roswellpark.org, roswellpark.org

View original content to download multimedia:https://www.prweb.com/releases/disparities-narrowing-among-patients-undergoing-blood-stem-cell-transplant-roswell-park-study-reveals-302254312.html

SOURCE Roswell Park Comprehensive Cancer Center

Continue Reading

Trending