Technology
Autonomous Mobile Robots Market to Grow by USD 11.55 Billion from 2024-2028, Strong ROI and AI-Driven Market Transformation to Boost Revenue – Technavio
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3 months agoon
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NEW YORK, Oct. 17, 2024 /PRNewswire/ — Report with the AI impact on market trends – The Global Autonomous Mobile Robots Market size is estimated to grow by USD 11.55 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 33.2% during the forecast period. Good ROI offered by autonomous mobile robots is driving market growth, with a trend towards emergence of hybrid UMV systems. However, high deployment cost of autonomous mobile robots poses a challenge – Key market players include ABB Ltd., Align Production Systems, HAHN Group GmbH, IAM Robotics, JASCI LLC, Koerber AG, L3Harris Technologies Inc., Lockheed Martin Corp., MIDEA Group Co. Ltd., OMRON Corp., QinetiQ Ltd., Robotnik Automation SLL, SESTO ROBOTICS Pte. Ltd., Stanley Robotics, Teradyne Inc., Thales Group, The Boeing Co., Toyota Motor Corp., Vecna Robotics Inc., and Zebra Technologies Corp..
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Forecast period
2024-2028
Base Year
2023
Historic Data
2018 – 2022
Segment Covered
End-user (Aerospace and defense, Oil and gas, Logistics transportation and manufacturing, Agriculture and mining, and Others), Component (Hardware and Software), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)
Region Covered
North America, Europe, APAC, Middle East and Africa, and South America
Key companies profiled
ABB Ltd., Align Production Systems, HAHN Group GmbH, IAM Robotics, JASCI LLC, Koerber AG, L3Harris Technologies Inc., Lockheed Martin Corp., MIDEA Group Co. Ltd., OMRON Corp., QinetiQ Ltd., Robotnik Automation SLL, SESTO ROBOTICS Pte. Ltd., Stanley Robotics, Teradyne Inc., Thales Group, The Boeing Co., Toyota Motor Corp., Vecna Robotics Inc., and Zebra Technologies Corp.
The Autonomous Mobile Robots market is poised for growth during the forecast period, with a focus on developing hybrid Unmanned Underwater Vehicles (UUVs) and Remotely Operated Vehicles (ROVs). Product innovations include control systems enabling seamless automation transitions and adaptability to various communication bandwidths. Notable research is underway at the Woods Hole Oceanographic Institution, exploring ROV-UUV switching for oil and gas industry applications. One such system, Strategic Robotic Systems Fusion, combines UUV and ROV capabilities, features advanced sensors, and offers efficiency, capability, and cost-effectiveness. These advancements are expected to fuel market expansion.
The Autonomous Mobile Robots (AMR) market is experiencing significant growth, driven by trends in lithium-ion batteries and advanced sensor technologies. Companies like Tennant and VARGO are leading the charge, integrating AMRs into their operations for automotive segment applications. AI-enabled control towers and smart logistics solutions are streamlining warehouse automation for distribution centers. UPS and others are utilizing AMRs for sorting, pick and place, and tugging tasks. Warehouse fleet management is becoming more efficient with the integration of 5G networks and AI-based route mapping. GCC countries are investing heavily in this technology, with SICK Sensors and their light detection, ranging sensors, and LiDAR systems being key players. Boston Dynamics, with their AMRs and advanced AI algorithms, machine learning techniques, and computer vision, are revolutionizing labor optimization in warehouses and distribution centers. Unmanned aerial vehicles are also being explored for AMR applications. The future of AMRs is bright, with continued advancements in robotics, artificial intelligence, and sensor technologies.
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• The Autonomous Mobile Robots market involves significant upfront costs due to the use of sensors, software, and advanced technologies. These expenses include the purchase price of the robots, as well as modifications to infrastructure and facilities. Additional costs come from accessories, maintenance, and servicing. In agriculture, mobile robot platforms can cost between USD200,000 and USD350,000. Seasonality is a challenge, as these robots may not be useful for much of the year. Training costs for specialists and operators are also high. End-users demand cost-effective and profitable solutions, posing a hurdle for vendors. These factors may limit the growth of the Autonomous Mobile Robots market during the forecast period.
• Autonomous Mobile Robots (AMRs) are revolutionizing industries, from e-commerce to healthcare and hospitality. Companies like ABB, Fetch Robotics, OTTO Motors, Locus Robotics, and Left Hand Robotics lead the market. Challenges include high initial investment, integrating AMRs with cloud computing, legacy systems, and compatibility issues. Industries such as logistics, food and beverage, and inventory management benefit from AMRs for order fulfillment, customer experiences, and lean operations. Key components include sensors, batteries, actuators, and vision cameras. Market segments include mobile industrial robots and hardware. Tier-one investors like Tiger Global Management and Linde are backing this trend. AMRs require onboard sensors, warehouse execution software, and self-driving forklifts. Data integration complexities, system scalability, and system complexity are ongoing challenges. Big data analytics and IoT play a crucial role in optimizing workflows. The Toro Company is also exploring AMRs for self-driving lawn mowers.
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This autonomous mobile robots market report extensively covers market segmentation by
End-user 1.1 Aerospace and defense1.2 Oil and gas1.3 Logistics transportation and manufacturing1.4 Agriculture and mining1.5 OthersComponent 2.1 Hardware2.2 SoftwareGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America
1.1 Aerospace and defense- The global autonomous mobile robots market is poised for steady growth in the forecast period due to increasing defense budgets worldwide. Unmanned Underwater Vehicles (UUVs) offer significant advantages over manned submarines, including cost savings and enhanced threat detection in risky areas. Vendors are focusing on real-time image transmission, remote visual verification, and evidence recording to enhance UUV capabilities. Additionally, the integration of infrared sensors for night-time operations and the ability to reconfigure UUVs remotely are key developments driving market growth in the aerospace and defense sector. These cost-effective, low-maintenance solutions offer significant benefits, making them an attractive alternative to labor-intensive vehicles like surface ships.
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Autonomous Mobile Robots (AMRs) are revolutionizing the logistics and manufacturing industries with their ability to automate labor-intensive tasks, optimize workflows, and increase efficiency. These robots, which include tuggers, pick-and-place systems, and sorting robots, utilize advanced technologies such as artificial intelligence, sensor technologies, and cameras to navigate and operate in complex environments. Warehouses and distribution centers are major adopters of AMRs, with e-commerce companies leading the charge due to the high demand for fast and accurate order fulfillment. The Toro Company and Left Hand Robotics are among the innovators in this space, leveraging 5G networks to enable real-time data processing and communication between robots and their human counterparts. AMRs are also being explored for use in industries such as agriculture and construction, with applications ranging from unmanned aerial vehicles to heavy-duty tugging systems. Overall, the adoption of AMRs is driving significant labor optimization and productivity gains across various industries.
Autonomous Mobile Robots (AMRs) are revolutionizing automation in various industries, including logistics, warehouses, and manufacturing. These robots utilize advanced technologies such as artificial intelligence, sensor technologies, and computer vision to optimize labor, improve inventory management, and enhance customer experiences. AMRs are equipped with sensors like LiDAR systems, ultrasonic sensors, and vision cameras for navigation and obstacle detection. Companies are investing heavily in this technology, with the hardware segment including sensors, batteries, and actuators. However, integrating AMRs into existing workflows and legacy systems can present challenges, including compatibility issues, data integration complexities, and system scalability. The market is expected to grow significantly, with key applications in e-commerce, food and beverage, healthcare, hospitality, and logistics. Major sectors include warehouses, distribution centers, and the automotive industry. Companies are exploring AI-enabled control towers, self-driving forklifts, and 5G networks to enhance AMR capabilities. E-commerce giants, logistics providers, and manufacturing companies are leading the adoption of AMRs for order fulfillment, pick and place, sorting, and tugging. The future of AMRs lies in advanced AI algorithms, machine learning techniques, and IoT integration for big data analytics.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
End-userAerospace And DefenseOil And GasLogistics Transportation And ManufacturingAgriculture And MiningOthersComponentHardwareSoftwareGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
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.
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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MRO Starts 2025 Strong with Top CEO Award, Major Client Wins, and Record-Breaking Growth
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Latest successes underscore MRO’s legacy and leadership in clinical data exchange, setting the stage for another milestone year.
NORRISTOWN, Pa., Jan. 15, 2025 /PRNewswire/ — MRO Corp. (MRO), the leading clinical data exchange company in healthcare, is pleased to announce its CEO, Jason Brown, was named one of The Top 50 Healthcare Technology CEOs of 2024, following several years of client expansion and growth.
This year’s Top CEO list features individuals whose leadership has been a driving force behind some of the most significant advancements in healthcare. MRO’s Jason Brown is one of those CEOs who has inspired his team to push boundaries, fostering a culture of innovation and transformative breakthroughs. This year’s awardees were selected through a methodical nomination process and careful consideration of each candidate’s career track record and industry contributions.
Over the last three years since Jason became CEO of MRO, the organization has experienced remarkable organic growth and innovation.
“Technological innovation has been pivotal in driving our impressive results and our growth trajectory,” said Jason Brown. “MRO is undergoing a digital transformation, and as part of that transformation, we are enhancing every facet of our business to better serve our clients. This strategic utilization of technology combined with our world class services has enabled us to support our clients’ goals of exchanging secure, high quality, low latency clinical data at scale.”
MRO is also pleased to announce a record number of new client partnerships. These include one of the nation’s largest Catholic health systems and a provider-sponsored health plan, backed by a top five US research hospital, according to Statista’s World’s Best Hospitals 2024.
Just as the organization has for the last 23 years, MRO continues to support hospitals and health systems in protecting revenues and simplifying the exchange of information with patients and third-party requesters to reduce risk, increase compliance, and introduce new efficiencies. Additionally, MRO has expanded its solutions portfolio.
MRO successfully launched three new solutions in 2023 and 2024. These innovative solutions unlock new market opportunities for MRO while also deepening relationships with existing clients and further solidifying the organization’s position in the healthcare technology industry overall.
Today, MRO partners with 1,200 hospitals, 35,000 clinics, 78 Accountable Care Organizations and works with the top 50 payers in the US. These partnerships are vital as MRO continues to accelerate clinical data exchange between providers, payers and patients.
“We’re continuing to push boundaries in how clinical data is exchanged, setting the foundation for long-term partnerships that improve outcomes across healthcare,” said Matt Wildman, Chief Commercial Officer.
About MRO
MRO is accelerating the exchange of clinical data throughout the healthcare ecosystem on behalf of providers, payers, and users of clinical data. By utilizing industry-leading solutions and incorporating the latest technology, MRO facilitates the efficient management and exchange of clinical data for all stakeholders. With a 23-year legacy, MRO brings a technology-driven mindset built upon a client-first service foundation and a relentless focus on client excellence. For more information on how MRO is empowering healthcare organizations of every type and scale with proven, enterprise-wide clinical data solutions, visit www.mrocorp.com.
Press contact information:
Stephanie Kindlick
MRO
(610) 994-7500, ext. 1353
skindlick@mrocorp.com
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Happiest Minds collaborates with Coca-Cola Beverages Vietnam to deploy an innovative GenAI conversational interface
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BENGALURU, India and SAN JOSE, Calif. and LONDON, Jan. 15, 2025 /PRNewswire/ — Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a ‘Born Digital. Born Agile’, Mindful IT Company, today announced the new association with Coca-Cola Beverages Vietnam, creating a series of GenAI solutions through their Generative AI Business Services (GBS).
In a consultative approach, Happiest Minds collaborated closely with the strategic team at Coca-Cola Beverages Vietnam during a discovery phase. This phase aimed to comprehensively understand the business requirements and explore how GenAI could effectively support them in achieving their goals.
Coca-Cola Beverages Vietnam presented two business cases necessitating technology transformation to enhance organizational productivity and operational efficiency.
Augmenting HR Efficiency: The policy information across different business functions at Coca-Cola Beverages Vietnam was scattered across multiple documents, causing inefficiencies for employees searching for relevant information. This fragmentation impeded productivity and hindered effective decision-making processes within the organization.Monitoring Cooler Productivity: Sales reps and asset managers at Coca-Cola Beverages Vietnam must monitor cooler RoI nationwide, engaging with retailers to enhance productivity. Presently, they navigate multiple systems to assess customer performance, pinpoint focus areas, and identify outliers. Streamlining this process would optimize cooler productivity, fostering better retailer connections.
Happiest Minds harnesses GenAI bots, utilizing Microsoft Azure OpenAI Service and open-source components, to develop a conversational interface that fulfills both critical business needs ― firstly, to create a GenAI-enabled HR assistant, and secondly, to develop a Cooler Productivity Monitoring System with an embedded layer of GenAI. The solution enabled users to access comprehensive information through a single interface and engage in natural language conversations with the underlying data. By integrating GenAI technology, this conversational interface enhances user experience, facilitating seamless interaction and efficient access to information. Users can now intuitively converse with the data, streamlining workflows and fostering a more productive and intuitive user experience for better HR enablement and augmented assistance for Sales reps and Asset Managers.
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Sridhar Mantha, CEO, Generative AI Business Services, Happiest Minds, said, “Our enduring partnership with Coca-Cola Beverages Vietnam led to the exploration of unique business cases, igniting excitement at GBS to collaborate and craft a unique GenAI solution. Given our strategic alliance with Microsoft, we were able to leverage Microsoft Azure Open AI stack to deliver tailored solutions for Coca-Cola Beverages Vietnam needs. In a short span since inception, we’ve already served over 20 customers and are actively engaging with numerous others, showcasing our commitment to excellence and customer satisfaction.”
Rahul Shinde, Vice President & CIO, Coca-Cola Beverages Vietnam, said, “I am proud of the fact that we were able to create a tool that has the potential to make a real difference in unleashing the productivity of our employees and we are only scratching the surface with Generative AI. We had confidence to partner with Happiest Minds through this journey and the team didn’t disappoint us. They were able to work in an agile manner and their technical expertise coupled with deep understanding of Coca-Cola business helped us to launch this product within a few weeks.”
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Nathan Nash, Strategic Account Technology Strategist, Microsoft, said, “This deployment of Microsoft Azure AI solutions with Coca-Cola Beverages Vietnam continues to build on the strong relationship between Happiest Minds and Microsoft in APJ. This solution has significantly bolstered operational efficiency, showcasing the robust capabilities of Azure AI in driving business transformation. By harnessing advanced analytics and AI tools, Coca-Cola Beverages has streamlined processes, reduced costs, and enhanced decision-making. This collaboration not only exemplifies the tangible benefits of Microsoft Azure AI but also stands as a glowing example of how technology can quickly deliver the business outcomes that customers need to compete in the new era of AI.”
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About Happiest Minds Technologies
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Media Contact: media@happiestminds.com
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EPAM Expands Collaboration with Google Cloud to Deliver Scalable AI Solutions for Industry Transformation
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NEWTOWN, Pa., Jan. 15, 2025 /PRNewswire/ — EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company, today announced it has expanded its strategic partnership with Google Cloud to deliver innovative industry solutions for clients across the media and entertainment, energy and retail verticals. The enhanced collaboration will leverage Google Cloud’s Vertex AI platform to drive measurable business outcomes for clients through generative AI, legacy modernization and data analytics capabilities.
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Forward-Looking Statements
This press release includes estimates and statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Our estimates and forward-looking statements are mainly based on our current expectations and estimates of future events and trends, which affect or may affect our business and operations. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. Those future events and trends may relate to, among other things, developments relating to the war in Ukraine and escalation of the war in the surrounding region, political and civil unrest or military action in the geographies where we conduct business and operate, difficult conditions in global capital markets, foreign exchange markets and the broader economy, and the effect that these events may have on client demand and our revenues, operations, access to capital, and profitability. Other factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, the risk factors discussed in the Company’s most recent Annual Report on Form 10-K and the factors discussed in the Company’s Quarterly Reports on Form 10-Q, particularly under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” and other filings with the Securities and Exchange Commission. Although we believe that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made based on information currently available to us. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.
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