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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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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.

Key Market Trends Fueling Growth

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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Market Challenges

•         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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Segment Overview 

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.

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

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.

Market Research Overview

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.

Table of Contents:

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

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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Andlauer Healthcare Group to Report Fourth Quarter and Year-End 2024 Financial Results on February 26, 2025

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TORONTO, Jan. 23, 2025 /CNW/ – Andlauer Healthcare Group Inc. (TSX: AND) (“AHG” or the “Company”) will release its 2024 fourth quarter and year-end financial results after market close on Wednesday, February 26, 2025. Michael Andlauer, Chief Executive Officer, and Peter Bromley, Chief Financial Officer, will host a conference call for analysts and investors on Thursday, February 27, 2025 at 8:30 a.m. (ET).

To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/40mprQB to receive an instant automated call back. Alternatively, you can dial (416) 945-7677 or (888) 699-1199 to reach a live operator that will join you into the call.

You can access a live webcast of the call under the Presentations & Events section of AHG’s investor website at:
www.andlauerhealthcare.com/andlauer-healthcare-presentations-events 

To access a replay of the conference call, dial (289) 819-1450 or (888) 660-6345, passcode: 16346 #. The replay will be available until March 6, 2025. The webcast will be archived on the Company’s website following the conclusion of the call.

About AHG

AHG is a leading and growing supply chain management company offering a robust platform of customized third-party logistics (“3PL”) and specialized transportation solutions for the healthcare sector. The Company’s 3PL services include customized logistics, distribution and packaging solutions for healthcare manufacturers across Canada. AHG’s specialized transportation services in Canada, including air freight forwarding, ground transportation, dedicated delivery and last mile services, provide a one-stop shop for clients’ healthcare transportation needs. Through its complementary service offerings, available across a coast-to-coast distribution network, AHG strives to accommodate the full range of its clients’ specialized supply chain needs on an integrated and efficient basis. The Company also provides specialized ground transportation services, primarily to the healthcare sector, across the 48 contiguous U.S. states. For more information on AHG, please visit: www.andlauerhealthcare.com  

SOURCE Andlauer Healthcare Group Inc.

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Payfare Files Management Information Circular for Special Meeting of Shareholders and Announces Receipt of Interim Order

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Shareholders are encouraged to vote IN FAVOUR of the Arrangement representing a premium of ~92% to the 60-day VWAP as of the last trading day prior to announcementVote Today! For questions or help with voting, call Kingsdale Advisors on 1-866-581-1490 (North America toll free), text or call 416-623-2513, or email contactus@kingsdaleadvisors.com 

TORONTO, Jan. 23, 2025 /CNW/ – Payfare Inc. (“Payfare” or the “Company”) (TSX: PAY) (OTCQX: PYFRF) is pleased to announce that it has filed and is in the process of mailing its management information circular (the “Circular”) and related materials for the special meeting (the “Meeting”) of the Company’s shareholders (the “Shareholders”) to be held on February 21, 2025.

The Circular and related Meeting materials are being mailed to Shareholders of record as of January 17, 2025. At the Meeting, Shareholders will be asked to consider and, if deemed advisable, pass a special resolution (the “Arrangement Resolution”) to approve the previously announced plan of arrangement under the British Columbia Business Corporations Act (the “Arrangement”), subject to the terms and conditions of an arrangement agreement dated December 22, 2024 (the “Arrangement Agreement”), entered into among the Company, Fiserv, Inc. (“Fiserv”) (NYSE: FI) and 1517452 B.C. Ltd. (the “Purchaser”), an affiliate of Fiserv.

Pursuant to the Arrangement, the Purchaser will acquire all of the issued and outstanding Class A common shares of the Company (the “Shares” and each, a “Share”), subject to obtaining shareholder and other customary approvals, for C$4.00 in cash per Share (the “Purchase Price”).

Reasons Why You Should Vote IN FAVOUR of the Arrangement Resolution

The Board of Directors (with conflicted directors abstaining) (the “Board”) has unanimously approved the Arrangement after receiving the unanimous recommendation of the special committee of independent directors of the Company (the “Special Committee”). The Board strongly urges Shareholders to vote in favour of the Arrangement Resolution, which they determined is in the best interests of the Company and is fair to the Shareholders.

Significant Premium – The Purchase Price offers a premium of approximately 90% to the closing price of the Shares on the TSX as of December 20, 2024 (the last trading day before the announcement of the Arrangement), and of approximately 92% to the 60-day volume-weighted average trading price as of that date. This premium represents a compelling and immediate value proposition for Shareholders.

Certainty of Value – Failure to approve the Arrangement could risk Shareholders’ ability to realize this substantial premium and the certainty of value it provides, potentially undermining long-term shareholder value. Failure to approve the Arrangement would likely have a material negative effect on the market price of the Shares, which could return to the price levels of the Shares before the Arrangement was announced or lower.

Strategic Review Process – The Board took decisive action by initiating the strategic review process announced on September 29, 2024. Market sentiment highlighted a significant increase in the risks associated with remaining a standalone business. The Company, together with its financial advisor Keefe, Bruyette, & Woods Inc. (“KBW”), explored multiple acquisition, partnership, and sale opportunities. None of these alternatives resulted in an alternative superior to the Arrangement, underscoring the Arrangement’s strategic and financial attractiveness.

Fairness Opinions – KBW and independent financial advisor Blair Franklin Capital Partners Inc. (“Blair Franklin“) provided fairness opinions to the Board and, in the case of Blair Franklin, to the Special Committee. Both opinions concluded that the consideration to be received by Shareholders under the Arrangement is fair, from a financial point of view, to Shareholders.

Negotiated Terms – The terms of the Arrangement reflect a comprehensive and rigorous negotiation process conducted at arm’s length under the direct oversight of the Special Committee aimed at achieving the best possible outcome for Shareholders.

All-Cash Consideration – The all-cash Purchase Price guarantees Shareholders immediate and certain value, eliminating exposure to future market volatility.

Support for the Arrangement – All of the directors and senior officers of Payfare, representing approximately 11.3% of the issued and outstanding Shares, have entered into support and voting agreements in favour of the Arrangement Resolution.

Other Factors – The Board also considered the Arrangement with reference to the standalone financial condition and results of operations of Payfare, as well as its prospects, strategic alternatives and competitive position, including the risks involved in achieving those prospects and following those alternatives in light of current market conditions and Payfare’s financial and strategic position. This included the impact of DoorDash, Inc.’s DasherDirect card program not being renewed beyond the current term, which expires in early 2025 as announced by the Company on September 26, 2024.

Additional information related to the Arrangement is detailed in the Circular.

Receipt of Interim Order

Payfare is also pleased to announce that it has been granted an interim order (the “Interim Order”) from the Supreme Court of British Columbia (the “Court”) authorizing various matters, including the holding of the Meeting and the mailing of the Circular and related Meeting materials. The Meeting is to be held in accordance with the terms of the Interim Order.

Don’t Delay. Vote Today.

The Meeting is scheduled to be held on February 21, 2025, at 11:00 A.M. (Toronto Time) and will be held virtually at https://web.lumiagm.com/238646522 using password “payfare2025”. The deadline for receiving your completed proxy is February 19, 2025, at 11:00 A.M. (Toronto Time), being not later than 48 hours before the Meeting (excluding any day which is not a business day).

If you have any questions or need assistance in your consideration of the Arrangement or with the completion and delivery of your proxy or voting information form, please contact Kingsdale Advisors, at 1-866-581-1490 (North America toll free), text or call 416-623-2513, or email contactus@kingsdaleadvisors.com.

The Circular and related Meeting materials are available on SEDAR+ at www.sedarplus.ca under the Company’s issuer profile and on https://corp.payfare.com/investors/. The Circular provides important information regarding the Arrangement and related matters, including the background to the Arrangement, the reasons for recommendation of the Special Committee and the Board, voting procedures and how to attend the Meeting.

Advisors and Counsel

Borden Ladner Gervais LLP and Dentons are acting as legal advisors to the Company. Kingsdale Advisors is acting as Strategic Shareholder and Communications Advisor to the Company. Keefe, Bruyette, & Woods Inc. acted as financial advisor to the Company. Blair Franklin Capital Partners Inc. acted as financial advisor to the Special Committee. Blake, Cassels & Graydon LLP and Foley & Lardner LLP acted as external legal advisors to Fiserv and the Purchaser.

About Payfare (TSX: PAY, OTCQX: PYFRF)

Payfare is a leading, international Earned Wage Access (“EWA”) company powering instant access to earnings through an award-winning digital banking platform for today’s workforce. Payfare partners with leading e-commerce marketplaces, payroll platforms, and employers to provide financial security and inclusion for all workers.

About Fiserv

Fiserv, Inc. (NYSE: FI), a Fortune 500™ company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and is one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news.

Forward Looking Information and Forward-Looking Statements

Information in this release contains forward-looking information and forward-looking statements within the meaning of securities legislation. Forward-looking information and forward-looking statements are generally identifiable by use of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” or the negative of these words or other variations on these words or comparable terminology. Forward-looking information and forward-looking statements are based on assumptions of future events that the Company believes are reasonable based upon information currently available. More particularly, and without limitation, this news release contains forward-looking information and forward-looking statements concerning the consideration to be paid to Shareholders pursuant to the Arrangement, the ability of the Company and the Purchaser to consummate the Arrangement on the terms and in the manner contemplated by the Arrangement Agreement, the anticipated benefits of the Arrangement, the anticipated timing of the Arrangement, the future trading price of the Shares, the holding and timing of the Meeting, the prospects, strategic alternatives and competitive position of the Company, and the non-renewal of the Company’s agreement with DoorDash. Such forward-looking information and forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied thereby. Such factors include, among others, the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary Court, Shareholder and other approvals and the ability of the parties to satisfy, in a timely manner, the conditions to the closing of the Arrangement, as well as other uncertainties and risk factors set out in the Circular and other filings made from time to time by the Company with the Canadian securities regulators, which are available on SEDAR+ at https://www.sedarplus.ca. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking information or forward-looking statements. The Company assumes no obligation to update or revise any forward-looking information or forward-looking statement, except as required by applicable securities law.

SOURCE Payfare Inc.

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Crossfuze Paves the Way for ServiceNow Partner Excellence: Retains Elite Partner Status and Earns Customer Experience Specialization

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MINNEAPOLIS, Jan. 23, 2025 /PRNewswire/ — Crossfuze, a global leader in ServiceNow solutions, proudly announces its continued recognition as an Elite Partner – one of fewer than 80 partners worldwide to hold this prestigious designation now. This milestone reflects Crossfuze’s unwavering commitment to delivering exceptional ServiceNow services and tailored solutions to support clients throughout their entire ServiceNow journey.

In addition to maintaining its Elite Partner status, Crossfuze has earned the highest accolade in the Customer Workflow field: the Customer Experience Specialization from ServiceNow. Crossfuze is one of only six partners globally to receive any kind of Specialization designation, highlighting the company’s position as a leader in transforming customer experiences through innovative workflow solutions on the ServiceNow platform.

“We are honoured to be recognised as one of the top ServiceNow partners globally,” said Steve Griffiths, CEO of Crossfuze. “Our team’s dedication to excellence and our focus on customer success have been instrumental in achieving these milestones. The Customer Experience Specialization is a testament to our commitment to delivering unparalleled value to our clients.”

These achievements are further strengthened by Crossfuze’s success in attaining 12 validated practices in 2024 spanning a wide range of ServiceNow solutions, demonstrating the company’s ability to support clients through every phase of their journey.

“Crossfuze continues to show outstanding commitment to our joint customers,” said Erica Volini, Executive Vice President of worldwide industries, partners, and go-to-market at ServiceNow. “Their continued status as Elite is further evidence of the incredible value they deliver and the future we are building together.”

As a ServiceNow Elite Partner, Crossfuze continues to leverage its deep industry knowledge and technical expertise to help organizations transform operations and achieve their digital transformation goals. With a proven track record of success and a relentless focus on innovation, Crossfuze is well-positioned to lead the way in the ever-evolving landscape of digital workflows.

“We enjoyed a record-breaking quarter for the company in Q4 and this growth, the accolades, and our investment in building out our AI practice, means we are in the strongest position ever to take advantage of the generational opportunity for our customers with Agentic AI and the ServiceNow platform” said Nick McGillivray, President & CRO at Crossfuze. “Digital Transformation is getting supercharged, and the time is right here, right now!”

For more information about Crossfuze and its ServiceNow solutions, please visit www.crossfuze.com

About Crossfuze: Crossfuze is a global professional services partner with over 20 years of experience delivering superior, long-lasting business outcomes for clients through innovative workflow design and technology. Crossfuze offers a full suite of advisory, implementation, and support services designed to help clients set their strategic direction on the platform, successfully implement solutions, and achieve continued operational excellence. As a ServiceNow Elite Partner, Crossfuze is dedicated to delivering best-in-class ServiceNow experiences and driving digital transformation for organizations worldwide.

References

[1]: Crossfuze About Us 

[2]: ServiceNow Partner Finder

[3]: Partner Program Expands with Specialization – ServiceNow Press

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