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Robot Gears and Sprockets Market to Grow by USD 47.9 Million from 2024-2028, Driven by E-commerce Growth; Market Evolution Powered by AI – Technavio

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NEW YORK, Sept. 27, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The Global Robot Gears and Sprockets market  size is estimated to grow by USD 47.9 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.14%  during the forecast period.  Growth in e-commerce industry is driving market growth, with a trend towards growing use of 3d printing technology for production  However, high initial cost for small and medium-sized enterprises  poses a challenge.Key market players include Apex Dynamics Inc., Ascent Precision Gear Corp., B and B Manufacturing Inc., Brother Industries Ltd., Designatronics Inc., Forest City Gear Co., Gear Motions Inc., Globe Transmission Corp., Innovation First International Inc., Kohara Gear Industry Co. Ltd., Nabtesco Corp., Nidec Corp., Ondrives Ltd., R W America LP, Regal Rexnord Corp., STD Precision Gear and Instrument Inc., STOBER Drives Inc., SuperDroid Robots Inc., The Timken Co., and Tsubakimoto Chain Co..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Application (Material handling, Assembly line, Welding, and Painting), Product (Gears and Sprockets), and Geography (APAC, North America, Europe, South America, and Middle East and Africa)

Region Covered

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

Key companies profiled

Apex Dynamics Inc., Ascent Precision Gear Corp., B and B Manufacturing Inc., Brother Industries Ltd., Designatronics Inc., Forest City Gear Co., Gear Motions Inc., Globe Transmission Corp., Innovation First International Inc., Kohara Gear Industry Co. Ltd., Nabtesco Corp., Nidec Corp., Ondrives Ltd., R W America LP, Regal Rexnord Corp., STD Precision Gear and Instrument Inc., STOBER Drives Inc., SuperDroid Robots Inc., The Timken Co., and Tsubakimoto Chain Co.

Key Market Trends Fueling Growth

The Robot Gears and Sprockets market is experiencing growth due to the adoption of 3D printing technology for manufacturing these components. This technology allows for the production of complex geometries quickly and affordably, providing designers and manufacturers with the flexibility to customize their products. The aerospace sector is an early adopter, using 3D printing for intricate gear and sprocket designs in aircraft engines. Governments worldwide invest in 3D printing technology, including the US National Network for Manufacturing Innovation, to advance manufacturing and reduce material waste. This trend towards precision manufacturing with 3D printing is expected to reduce material waste and environmental impact, driving market growth. 

Title: Robot Gears and Sprockets Market: Trends and Future Prospects The robot gears and sprockets market is witnessing significant growth due to the increasing adoption of industrial robots in various manufacturing units. Companies are strategically analyzing their manufacturing processes to incorporate robotics for improved efficiency and productivity. Our research methodology includes data analysis from industry reports, interactions with leading industrial players, and insights from domain experts. Key trends include the integration of artificial intelligence, vision capabilities, and affordability in industrial robots. Industrial robots find applications in material handling, welding, painting, and other industrial activities. Robotic construction and emerging industries like e-commerce and renewable energy are also driving demand for robot gears and sprockets. Initiatives like digital archives, research platforms, and proprietary platforms are providing valuable insights into the market narrative. Influencers such as interactive questionnaires, YouTube video transcripts, podcasts, press statements, and event keynotes are shaping the discourse around this dynamic market. Despite the numerous benefits, risks like high initial investment and complex programming remain. The future possibilities are immense, with the potential impact on industries and manufacturing units significant. Stay tuned for more updates on this exciting market. 

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Market Challenges

Small and Medium Enterprises (SMEs) may encounter significant obstacles in implementing robotic systems due to their high upfront costs. Robots and associated hardware and software can cost anywhere from USD10,000 to USD100,000 or more. SMEs often struggle to compete financially with larger businesses in the robot gears and sprockets market due to these expenses. The investment also includes programming, installation, and maintenance costs. Consequently, SMEs might be hesitant to adopt these technologies, limiting their competitiveness in the market. This challenge could hinder the market’s growth during the forecast period.The Robot Gears and Sprockets market faces several challenges in the current business landscape. Identities and numbers from digital archives and research platforms paint a complex market narrative. Domain experts weigh in through interactive questionnaires, YouTube video transcripts, podcasts, and press statements. Geopolitics, economic instability, monetary policy tightening, climate disasters, disinflation, anxiety, inflation, price moderation, elections, jurisdictions, capital flows, and investment strategies influence this sector. Silicon Valley’s recession risks, government spending, and volatility create a catalyst for growth. Agility and strategic foresight are essential for investment decisions amidst survival concerns. Segments and sub-segments require a future roadmap, while business models rely on financial data, both existing and funding. Recent developments shape the market’s future.

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Segment Overview 

This robot gears and sprockets market report extensively covers market segmentation by

Application 1.1 Material handling1.2 Assembly line1.3 Welding1.4 PaintingProduct 2.1 Gears2.2 SprocketsGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Material handling-  The robot gears and sprockets market is experiencing significant growth due to the increasing demand for material handling robots. Factors such as industry automation and technological advancements are driving this trend. Material handling robots are being adopted across various industries, including tire manufacturing, automotive, and distribution, to enhance productivity and efficiency. ABB, Fanuc, and Kuka are some companies providing material handling robots for these applications. The development of small, lightweight robots with large payload capacities and improved connectivity and communication abilities is further fueling market expansion. This growth is expected to continue throughout the forecast period.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022)

Research Analysis

The Robot Gears and Sprockets market encompasses the production and distribution of essential components for robotics systems. These components, including gears and sprockets, play a vital role in the smooth operation and functionality of robots. In the digital age, market research firms have created extensive archives of data and insights to help businesses stay informed. Influencers and domain experts share their knowledge through interactive podcasts and segments and sub-segments analysis. The future roadmap of the industry is shaped by company strategies, financial data, and recent developments. Monetary policy tightening and emerging industries’ impact are crucial factors to consider. Vision capabilities, analysis of trends, initiatives, risks, and future possibilities are all essential elements shaping the Robot Gears and Sprockets market landscape.

Market Research Overview

The Robot Gears and Sprockets market is a critical segment in the robotics industry, fueling the efficiency and productivity of industrial robots. This market encompasses digital archives and research platforms, providing domain experts’ insights, numbers, and market narrative. Influencers such as interactive questionnaires, YouTube video transcripts, podcasts, press statements, and event keynotes shape the discourse. Geopolitics, economic instability, monetary policy tightening, climate disasters, disinflation, anxiety, inflation, price moderation, elections, jurisdictions, capital flows, investment strategies, and recession risks influence the market’s dynamics. Silicon Valley, government spending, investors, businesses, volatility, catalysts for growth, agility, strategic foresight, and investment decisions are essential elements shaping the future roadmap. Industrial robots’ segments include programming, material handling, welding, painting, components, and industrial activities in manufacturing units. The market’s business model relies on financial data, existing and funding, recent developments, company strategy analysis, and research methodology. Artificial intelligence, vision capabilities, analysis of trends, initiatives, emerging industries, impact, risks, and future possibilities further expand the market’s scope.

Table of Contents:

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

ApplicationMaterial HandlingAssembly LineWeldingPaintingProductGearsSprocketsGeographyAPACNorth AmericaEuropeSouth 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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Todd Tucker joins Parking Revenue Recovery Services as Chief Operating Officer to Guide Growth as PRRS expands as a Vehicle Identification and Monitoring Technology Platform

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DENVER, Nov. 15, 2024 /PRNewswire/ — Parking Revenue Recovery Services (PRRS), Inc., a leader in AI-driven compliance and vehicle activity monitoring, is pleased to announce the appointment of Todd Tucker, JD, DBA, CAPP, CPP, as its new Chief Operating Officer, effective November 15, 2024. With over 30 years of experience in the parking industry, Tucker is a recognized leader, having held various senior executive roles. Todd assumes the role of Chris Conley, who has decided to retire and enjoy some well-earned time after 30 years in the parking industry.

Before joining PRRS, Tucker served as President at Parking Logix and has been a leader in multiple tech companies focused on mobility solutions, with two leading to strategic and/or investment transaction outcomes Todd’s experience as a parking operations leader/expert and his roles spearheading the development and growth of innovative technology offerings focused on parking provide him with a unique ability to build solutions that meet the needs of today’s parking operations.

PRRS is uniquely positioned in gateless parking technology solutions through its machine vision-based technology, which identifies all vehicle activity, enhances compliance, and enables clients to expand their service capabilities. Our technology allows clients to gather valuable insights into operation and consumer activity while helping our clients improve their customer experience. With Tucker’s extensive expertise in parking technology and leadership, PRRS aims to broaden its services across North America, solidifying its status as the premier provider of gateless technology solutions to operators and facilities.

“Todd’s proven track record of driving innovation and his dedication to enhancing technology-based services make him the ideal candidate to lead PRRS into its next growth phase,” said Gabor Burchner, Managing Director, GB & Partners IM. “As the demand for adaptable technology solutions providers continues to rise, Todd’s leadership and collaborative approach will be invaluable.”

PRRS, in partnership with Asura, has successfully implemented the ARC solution and its compliance services at over 400 parking sites across 29 states. With ongoing investment from GB & Partners IM, PRRS is set to expand beyond its current identity as a “parking notice firm” to become the leading gateless technology solution for the future.

“I am thrilled to join PRRS and enhance the value we provide to our parking operating partners,” said Todd Tucker. “Throughout my career, I’ve consistently sought to challenge the status quo by delivering innovative solutions in an ever-evolving industry. PRRS is at the forefront of leveraging technology to enhance its services, and with GB & Partners IM participation, we will continue to deliver exceptional value to the parking sector and beyond. I look forward to joining the PRRS team and collaborating with our clients to push boundaries and innovate in compliance and facility monitoring services.”

About Parking Revenue Recovery Services

Parking Revenue Recovery Services, Inc. (PRRS) is North America’s leading Parking Compliance and Facility Monitoring technology provider. PRRS is on track to provide over 1,000 parking locations and proudly supports national, regional, and local parking operators throughout the United States. Our client owners and parking operators use our monitoring and compliance services in all properties, including commercial lots and garages, municipal facilities, college and university facilities, airports, hospitals, commercial properties, and residential buildings. PRRS creates exceptional value for its parking operator clients through increased overall customer compliance and enhanced visibility into operating activity and usage while delivering excellent customer service. We maximize the value provided to our clients through excellence, innovation, and efficiency in its compliance and monitoring services, delivered by an outstanding team of parking professionals dedicated to the highest levels of customers.

About Asura Technologies

Asura Technologies specializes in next-generation video analytics and license plate recognition software, utilizing AI to create smart parking, traffic management, frictionless tolling, and safety security applications. Active globally since 2018, Asura Technologies USA collaborates with PRRS to provide highly effective, automated parking enforcement solutions through innovative technology.

About GB & Partners IM

GB & Partners IM is an independent private equity and venture capital firm focused on innovative city technologies, fashion, fintech, medical technologies, and mechanical engineering. As the largest Hungarian-based firm in its sector, GB & Partners IM offers extensive leadership experience in private equity and venture capital investments, M&A transactions, and IPOs, providing operational support to investment entities by international standards. In 2019, GB & Partners IM became the first Hungarian venture capital firm to gain membership in Invest Europe.

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SOURCE Parking Revenue Recovery Services, Inc.

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Connect and Converse Across Borders with Moii: Now Available Worldwide

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SEOUL, South Korea, Nov. 15, 2024 /PRNewswire/ — Moii, an innovative avatar-based interest-matching conversation service developed by tech startup illuni, has officially launched globally. Available on the Google Play Store and Apple App Store, Moii offers users a unique way to meet new friends, share stories and enjoy engaging conversations. The service allows people around the globe to experience safe, interest-based connections with like-minded people, fostering a sense of community across borders. Moii exemplifies illuni’s commitment to creating immersive digital experiences through advanced artificial intelligence (AI) technology.

To create heartfelt connections, download Moii from the Google Play Store (https://play.google.com/store/apps/details?id=com.illuni.moii&hl=en-US) and Apple App Store (https://apps.apple.com/us/app/moii-heartfelt-connections/id6456406927).

Create Moiiments, Connect Globally

In a world where genuine interaction can feel rare, Moii provides a space for simple, meaningful conversations without the pressure of video or photo sharing. By connecting users based on shared interests, Moii creates a relaxed environment for spontaneous chats, whether someone is looking for a listening ear, a language exchange, or a fresh global perspective. With engaging features such as avatar costumes and singing content in virtual karaoke – introduced in a recent November update – the app continues to attract a growing user base of young adults seeking meaningful connections beyond small talk.

“Since our global launch on the 1st of November, users from over 30 countries have come together on Moii to share interests, create unique content and enjoy friendly conversations,” said Byung-Hwa Park, CEO of Illuni. “We are thrilled by the enthusiasm for Moii as people around the world find it to be a fun and welcoming platform.”

Aimed at users in their 20s and 30s, Moii allows users to interact in a fully customizable 3D environment. Instead of revealing their actual appearance, users create avatars that reflect their personalities and interests, providing a sense of anonymity, security, and comfort. Once matched, users can personalize their avatars, use conversation cards, and enjoy mini games, making every interaction fun and engaging.

With a mission to create comfortable spaces for conversation, Moii promotes cross-cultural and language exchange on a global scale. Whether users want to make foreign friends, practice a new language, or simply chat with a friendly listener, Moii offers a low-pressure, refreshing way to connect.

Looking ahead, Illuni plans to expand Moii’s language support, making it accessible to even more users across the globe.

For more information about Moii, visit https://www.moii.net/en

About illuni

Illuni is a forward-thinking startup focused on developing immersive digital experiences through advanced AI technology. The company is committed to building innovative mixed-reality services that redefine user engagement in digital spaces. Alongside Moii, illuni’s portfolio includes Storyself (https://storyself.com), an interactive storybook app that transforms users’ pictures into story characters, allowing them to become the protagonists of various tales—making it both engaging and educational for children.

To learn more about illuni and its suite of mixed-reality projects, visit:  https://www.illuni.com/en 

For media inquiry, please contact: illuni Communications, e-mail: contact@illuni.com 

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SOURCE illuni

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LONGi’s Solar Panels Enhance Sustainability in Bengaluru’s Residential Complex

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BANGALORE, India, Nov. 15, 2024 /PRNewswire/ — LONGi, in partnership with SolarSquare, has completed a 342 kW solar project using advanced Hi-MO 5 solar panels for a residential apartment complex in Bengaluru.

Launched seven months ago, this solar project is set to save the residential complex up to $47,736 annually and has already generated an impressive 340,000 units of electricity. Thanks to the high efficiency of the solar modules, significant economies of scale, and the inherent advantages of rooftop solar, the project is projected to reach its break-even point within just 4.75 years.

Before the installation of the rooftop solar panels, residents faced annual electricity costs of approximately $143,305. The switch to solar energy is expected to result in annual savings between $47,768$53,768, effectively reducing their electricity expenses by around 33%.

Nikhil Nahar, Co-founder and Director of SolarSquare, stated, “Through our strategic partnership with LONGi over the years, our customers have gained access to state-of-the-art technology for their projects. LONGi’s solar panels consistently deliver performance and help our customers save on electricity bills. With a shared vision to accelerate the mass adoption of renewable energy and enhance sustainability, our partnership has continually provided innovative solutions, earning the trust of our customers.”

LONGi remains committed to delivering advanced solar technology and helping more residential complexes achieve energy independence through its highly efficient and reliable products.

About LONGi

Founded in 2000, LONGi is committed to being the world’s leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation.

Under its mission of ‘making the best of solar energy to build a green world’, LONGi has dedicated itself to technology innovation and established five business sectors, covering mono silicon wafers cells and modulescommercial & industrial distributed solar solutionsgreen energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy and has more recently, also embraced green hydrogen products and solutions to support global zero carbon development. www.longi.com

View original content:https://www.prnewswire.com/in/news-releases/longis-solar-panels-enhance-sustainability-in-bengalurus-residential-complex-302306744.html

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