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From the Tax Law Offices of David W. Klasing – Federal Courts now Using Intended Tax Loss, rather than “Actual” Tax loss in Sentencing Tax Crimes

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IRVINE, Calif., Feb. 9, 2024 /PRNewswire/ — If you intentionally evade your tax obligations, you can spend time in prison. Typically, your prison sentence will be determined by analyzing the amount of tax loss you caused the government to incur. Generally, defendants who create greater amounts of tax loss for the government will spend greater amounts of time in prison under the federal sentencing guidelines.

 

In the case of United States v. Upshur, the Third Circuit held that intended tax loss will be used in sentencing calculations for tax crimes instead of actual tax loss. The intended loss is the loss that would have occurred if the defendant had successfully evaded their tax obligations.

For support with your tax issues, contact our Dual-Licensed Tax Attorneys & CPAs at the Tax Law Offices of David W. Klasing by dialing (800) 681-1295 or clicking here to schedule a reduce rate initial consultation.

Third Circuit Issues Ruling on Sentencing Calculations for Tax Crimes

In May of 2023, the Third Circuit issued a ruling in the case of United States v. Upshur, establishing that intended tax loss will be used for tax crimes sentencing calculations, as opposed to actual tax loss. Intended tax loss refers to the financial loss the government would have sustained if a defendant’s tax crimes were successfully completed.

In Upshur, the defendant was indicted for perpetrating two fraudulent tax schemes over the course of a decade. First, Upshur told others that they could pay off their debts by wiring money to Upshur and allowing him to file tax forms stating that a trust he operated withheld substantial amounts of income tax on their behalf, hopefully resulting in substantial tax refunds. Upshur charged individuals $500 to join his scheme and an additional $250 for each debt they wished to pay off. However, this scheme was mostly unsuccessful. The Internal Revenue Service (IRS) did issue a sizable refund for one participant in Upshur’s scheme, but the agency quickly identified its mistake and managed to freeze the payment.

In Upshur’s second scheme, he would issue large overpayments to the IRS in hopes of generating a significant refund. This scheme also failed to generate any sizable refunds from the IRS. Still, in conjunction with Upshur’s first scheme, his actions resulted in an intended-loss figure of $325 million.

After applying the tax loss table set forth by U.S.S.G. § 2T4.1, it was determined that the figure resulted in a base offense level of 34 with certain upward point adjustments being applied because of Upshur’s criminal history. Ultimately, sentencing guidelines suggested a prison sentence between 324 and 328 months. Still, the lower court imposed a lower prison sentence of 84 months.

At the Third Circuit Court of Appeals, Upshur argued that the tax loss figure used to calculate his sentence was improper. He asserted that his actions had actually not caused any loss to the U.S. Treasury. However, on appeal, the Third Circuit upheld the lower court’s decision to use the intended-loss figure to calculate Upshur’s sentence for his tax crimes.

How the IRS Catches Tax Fraud

There are a number of different ways that the IRS catches people who cheat on their taxes. For instance, the following are all common examples of methods the agency employs:

Using Tips from Whistleblowers

The IRS routinely catches tax evaders by using tips from whistleblowers. Whistleblowers are individuals who inform the IRS about illegal activities seeking a reward for the information. There are several reasons why a whistleblower may choose to report certain conduct. For example, a disgruntled employee who wants revenge may issue a report regarding their employer’s improper behavior. Furthermore, the spouse of a criminal tax evader may submit a report to the IRS simply because they want to do the right thing.

IRS Using Computer Artificial Intelligence Driven Analysis to Identify Tax Evaders

The IRS also utilizes a complex computer system that reconciles the information returns submitted by employers and various third parties (W2’s & 1099s) with tax positions reported by individuals on their tax returns. If a discrepancy is identified, then the IRS will investigate the matter further. An audit or criminal tax investigation may be ordered if evidence of potential tax evasion is identified. They are also currently integrating Artificial Intelligence into their civil and criminal enforcement efforts.

Over time, the computer systems used to identify tax evaders have become more sophisticated. If you are concerned that you might be flagged for suspicious activity, then our Dual-Licensed Tax Attorneys & CPAs can help determine the appropriate course of action to bring you back into compliance without facing criminal tax prosecution.

If you have failed to file a tax return for one or more years or have taken a position on a tax return that could not be supported upon an IRS or state tax authority audit, eggshell audit, reverse eggshell audit, or criminal tax investigation, it is in your best interest to contact an experienced tax defense attorney to determine your best route back into federal or state tax compliance without facing criminal prosecution.

Note:

As long as a taxpayer that has willfully committed tax crimes (potentially including non-filed foreign information returns coupled with affirmative evasion of U.S. income tax on offshore income) self-reports the tax fraud (including a pattern of non-filed returns) through a domestic or offshore voluntary disclosure before the IRS has started an audit or criminal tax investigation / prosecution, the taxpayer can ordinarily be successfully brought back into tax compliance and receive a nearly guaranteed pass on criminal tax prosecution and simultaneously often receive a break on the civil penalties that would otherwise apply. 

It is imperative that you hire an experienced and reputable criminal tax defense attorney to take you through the voluntary disclosure process. Only an Attorney has the Attorney Client Privilege and Work Product Privileges that will prevent the very professional that you hire from being potentially being forced to become a witness against you, especially where they prepared the returns that need to be amended, in a subsequent criminal tax audit, investigation or prosecution.

Moreover, only an Attorney can enter you into a voluntary disclosure without engaging in the unauthorized practice of law (a crime in itself). Only an Attorney trained in Criminal Tax Defense fully understands the risks and rewards involved in voluntary disclosures and how to protect you if you do not qualify for a voluntary disclosure.

As uniquely qualified and extensively experienced Criminal Tax Defense Tax Attorneys, Kovel CPAs and EAs, our firm provides a one stop shop to efficiently achieve the optimal and predictable results that simultaneously protect your liberty and your net worth. See our Testimonials to see what our clients have to say about us!

Analyzing Social Media Accounts

Furthermore, the IRS can also use information posted on taxpayers’ social media accounts to identify fraudulent behavior. For example, suppose someone’s public social media posts indicate that they are living a lifestyle that does not coincide with their history of reported income on their tax returns. In that case, the government may decide to perform an audit or criminal tax investigation. Still, it is not known whether the IRS can access private communications like emails or nonpublic social media posts.

When Can You Go to Jail for Tax Evasion?

You are not at grave risk of going to prison for simply making minor mistakes on your tax returns. Tax evasion refers to the deliberate underpayment or nonpayment of taxes. Accordingly, in order for you to face criminal penalties for tax evasion, the government must have sufficient evidence to prove that you knowingly and willfully evaded your tax obligations.

There are several potential examples of tax evasion. For instance, an individual may commit tax evasion by purposely underreporting digital assets on their tax returns. Furthermore, an employer may simultaneously commit tax evasion and aid & abet their workers tax evasion by paying them in cash and not issuing W2’s or 1099’s to evade payroll tax obligations. Finally, people also regularly evade their taxes by failing to report overseas sources of taxable income. Lastly, people commit income tax evasion by understating taxable income, overstating deductions, and claiming credits they are not entitled to.

The U.S. government aggressively detects and prosecutes tax crimes. The criminal tax penalties imposed against tax evaders can include significant fines and jail time. The average amount of jail time for tax evasion is between three and five years. In general, longer sentences are imposed against those who cause greater tax loss to the government. Still, other factors, such as the defendants’ criminal history, can come into play during sentencing calculations.

We Are Here for You

Regardless of your business or estate needs, the professionals at the Tax Law Offices of David W. Klasing are here for you. We are open for business and our team will help ensure that your business is too. Contact the Law Offices of David W. Klasing today to discuss your business with one of our professionals.

In addition to our fully staffed main office in downtown Irvine California, the Tax Law Offices of David W. Klasing has unstaffed (conference room only) California based satellite offices in Los Angeles, San Bernardino, Santa Barbara, Panorama City, Oxnard, San Diego, Bakersfield, San Jose, San Francisco, Oakland, Carlsbad, Sacramento. We also have unstaffed (conference room only) satellite offices in Las Vegas Nevada, Salt Lake City Utah, Phoenix Arizona & Albuquerque New Mexico, Austin Texas, Washington DC, Miami Florida and New York New York that solely handle Federal & California Tax issues.

Our office technology allows clients to meet virtually via GoToMeeting. With end-to-end encryption, strong passwords, and top-rated reliability, no one is messing with your meeting. To schedule a reduced rate initial consultation via GoToMeeting follow this link. Call our office and request a GoToMeeting if you are an existing client. We also now offer a convenient scheduling option, where you can secure David W. Klasing, Esq M.S.-Tax CPA’s undivided attention for a 4-hour consultation at any of his satellite offices. 

See our Criminal Tax Law Q and A Library

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Public Contact: Dave Klasing Esq. M.S.-Tax CPA, dave@taxesqcpa.net

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SOURCE Tax Law Offices of David W. Klasing, PC

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Technology

Fiery to be Acquired by Epson

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1 hour ago

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September 18, 2024

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The wholesale purchase acquisition will preserve Fiery as an independent DFE provider and strengthen its industry leadership.

FREMONT, Calif., Sept. 18, 2024 /PRNewswire/ — Fiery, LLC (“Fiery”), the print industry’s leading innovator of digital front ends (DFEs) and workflow software, today announced that Fiery’s ownership has entered into an agreement with Seiko Epson Corporation (“Epson”) whereby Epson will acquire Fiery from Siris Capital Group, LLC (“Siris”, together with its affiliates, including Electronics for Imaging, Inc.) in a transaction valued at approximately $591 million.

Fiery’s industry-leading products have enabled the exceptional color, personalization, performance, and efficiency that print businesses have relied on for more than three decades. Fiery’s software, server, and workflow solutions will complement Epson’s strategic vision and hardware leadership to drive growth across a broad range of print devices and applications.

By joining Epson, a global leader in innovation, Fiery is better positioned to scale, drive innovation, and continue delivering cutting-edge solutions to its customers while maintaining its independence in areas where the company excels.

Following the consummation of the transaction, Fiery will continue to operate as an independent provider of DFEs and workflow solutions to empower OEM partners to deliver the best possible output from their devices and accelerate the development of digital printing around the world.

“Epson’s acquisition of Fiery showcases the uniquely important role we play in enabling success across the entire print industry,” said Toby Weiss, CEO of Fiery. “Fiery has a demonstrated track record of empowering OEM partners to deliver the best possible results for its customers, and we look forward to building upon this legacy with Epson and our valued partners. I’d also like to thank Frank and the entire Siris team for their invaluable guidance and expertise.”

“We are delighted to welcome Fiery into the Epson Group. We are confident that this agreement will not only drive further growth in our commercial and industrial printing businesses but also accelerate the digital transformation of the analog printing market in an innovative way,” said Yasunori Ogawa, President and Representative Director, Epson. “Together with Fiery, we remain committed to contributing to our customers’ success and enhancing corporate value as we pursue new opportunities in the evolving printing landscape.”

Siris acquired Fiery as part of Siris’s take-private acquisition of Electronics for Imaging, Inc. (“EFI”) in 2019. Under Siris’ ownership, Fiery separated from EFI in 2021 to become an independent company.

“Under our ownership, Toby and the Fiery team accelerated investments in innovative technologies and expanded the product portfolio for the benefit of their OEM partners,” said Frank Baker, a Co-Founder and Managing Partner at Siris. “Epson is the ideal partner for Fiery’s next chapter, and we look forward to seeing how Fiery builds upon its leading position within the print industry moving forward.”

DC Advisory and UBS Investment Bank acted as exclusive financial advisors to EFI in connection with the sale of its interests in Fiery to Epson.

The transaction remains subject to customary closing conditions including regulatory approvals and is expected to close within 2024.

About Fiery
Fiery is the leading provider of digital front ends (DFEs) and workflow solutions for the global print industry. With a customer base that includes over 2 million DFEs sold worldwide, Fiery’s industry-leading software and cloud-based technologies deliver the best possible performance, color, and print quality across a broad range of production printing devices.  

Fiery’s innovative solutions empower commercial print, industrial, packaging, signs and display graphics, ceramics, building materials, textiles, and more. Through over 30 years of excellent support and service, Fiery has built an unmatched community of customers, dealers, and partners.  

About Epson
Epson is a global technology leader whose philosophy of efficient, compact and precise innovation enriches lives and helps create a better world. The company is focused on solving societal issues through innovations in home and office printing, commercial and industrial printing, manufacturing, visual and lifestyle. Epson’s goal is to become carbon negative and eliminate use of exhaustible underground resources such as oil and metal by 2050.

Led by the Japan-based Seiko Epson Corporation, the worldwide Epson Group generates annual sales of more than JPY 1 trillion. www.global.epson.com

About Siris
Siris is a leading private equity firm that targets control investments in companies that provide mission-critical technology infrastructure. Siris leverages its network of exclusive Executive Partners to identify opportunities and drive strategic and operational value. Siris is based in New York and West Palm Beach and has approximately $7 billion in assets under management as of September 30, 2023.

Forward-Looking Statements
Except for historical information, all other information in this communication consists of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, and related oral statements Fiery may make, are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. For example, (1) conditions to the closing of the transaction may not be satisfied, (2) the timing of completion of the transactions is uncertain, (3) the business of Fiery may suffer as a result of uncertainty surrounding the transaction, (4) events, changes or other circumstances could occur that could give rise to the termination of the agreement, (5) there are risks related to disruption of the management’s attention from the ongoing business operations of Fiery due to the transaction, (6) the announcement or pendency of the transaction could affect the relationships of Fiery with its clients, operating results and business generally, including on the ability of Fiery to retain employees, (7) the outcome of any legal proceedings initiated against Fiery following the announcement of the transaction could adversely affect Fiery, including the ability to consummate the transaction, and (8) Fiery may be adversely affected by other economic, business, and/or competitive factors, as well as management’s response to any of the aforementioned factors. The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein and elsewhere. Fiery does not undertake any obligation to update, correct or otherwise revise any forward-looking statements.  

Fiery is a registered trademarks of Fiery, LLC in the U.S. and/or certain other countries. All other terms and product names may be trademarks or registered trademarks of their respective owners and are hereby acknowledged.   

Nothing herein should be construed as a warranty in addition to the express warranty statements provided with Fiery products and services.  

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SOURCE Fiery

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Technology

Siris Announces Sale of Fiery to Seiko Epson Corporation

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1 hour ago

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September 18, 2024

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During its ownership period, Siris partnered with Fiery to expand product portfolio and deepen strategic partnerships

NEW YORK, Sept. 18, 2024 /PRNewswire/ — Siris (together with its affiliates, including Electronics for Imaging, “Siris”), a leading private equity firm focused on investing and driving value creation in technology companies, today announced the sale of Fiery, LLC (“Fiery”) to global technology leader Seiko Epson Corporation (“Epson”) in a transaction valued at approximately $591 million.

Fiery is a leading provider of digital front end (“DFE”) servers and workflow solutions for the growing industrial and graphic arts print sectors. Utilizing a combination of software and cloud-based technologies, Fiery has a demonstrated track record of delivering fast performance, stunning color and exceptional print quality across a broad range of production printing devices.

Fiery was acquired as part of Siris’ take-private acquisition of EFI in 2019. As part of its value creation strategy, Siris operationalized Fiery as an independent company in order to position it for a strategic exit. The divestiture of Fiery is the second carveout that Siris has completed from the broader EFI portfolio, after previously selling eProductivity Software to Symphony Technology Group, announced in 2022.

“Since our investment in Fiery in 2019, Toby and the team have grown the company’s leadership position in the DFE market, making significant progress expanding the product portfolio and deepening strategic partnerships,” said Frank Baker, a Co-Founder and Managing Partner at Siris. “Our partnership with Fiery is a great example of how we partner with management teams to drive value and position companies for continued long-term success. We look forward to seeing how the company continues to thrive with Epson moving forward.”

Mr. Baker added, “Post separation and divestiture of Fiery and eProductivity Software, EFI is now a streamlined, leading provider of industrial inkjet solutions for the display graphics, packaging and textiles industries with a broad range of printers, inks and service capabilities. We will continue to support EFI as it drives the exciting digital printing transition across a broad range of industrial end markets globally.”

“With Siris’ partnership and investment, we successfully raised the standards of digital printing excellence across a diverse range of operating segments,” said Toby Weiss, Chief Executive Officer of Fiery. “We are thrilled to embark on our next phase of growth alongside Epson, as we continue to provide our customers with dynamic solutions for their digital printing needs.”

The transaction is expected to close within 2024, subject to customary closing conditions including required regulatory approvals. Upon transaction close, Fiery will become part of the Epson group, retain its current name and organizational structure and continue to operate from its existing offices.

DC Advisory and UBS Investment Bank acted as exclusive financial advisors to EFI in connection with the sale of its interests in Fiery, LLC to Seiko Epson Corporation. Sidley Austin LLP served as legal advisor to Siris.

About Siris

Siris is a leading private equity firm that targets control investments in companies that provide mission-critical technology infrastructure. Siris leverages its network of exclusive Executive Partners to identify opportunities and drive strategic and operational value. Siris is based in New York and West Palm Beach and has approximately $7 billion in assets under management as of December 31, 2023. https://siris.com/

About Fiery

Fiery is the leading provider of digital front ends (DFEs) and workflow solutions for the global print industry. With a customer base that includes over 2 million DFEs sold worldwide, Fiery’s industry-leading software and cloud-based technologies deliver the best possible performance, color, and print quality across a broad range of production printing devices. 

Fiery’s innovative solutions empower commercial print, industrial, packaging, signs and display graphics, ceramics, building materials, textiles, and more. Through over 30 years of excellent support and service, Fiery has built an unmatched community of customers, dealers, and partners. 

Forward-Looking Statements

Except for historical information, all other information in this communication consists of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, and related oral statements Siris may make, are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied.  For example, (1) conditions to the closing of the transaction may not be satisfied, (2) the timing of completion of the transactions is uncertain, (3) the business of Fiery may suffer as a result of uncertainty surrounding the transaction, (4) events, changes or other circumstances could occur that could give rise to the termination of the agreement, (5) there are risks related to disruption of the management’s attention from the ongoing business operations of Fiery due to the transaction, (6) the announcement or pendency of the transaction could affect the relationships of Fiery with its clients, operating results and business generally, including on the ability of Fiery to retain employees, (7) the outcome of any legal proceedings initiated against Fiery following the announcement of the transaction could adversely affect Fiery, including the ability to consummate the transaction, and (8) Fiery may be adversely affected by other economic, business, and/or competitive factors, as well as management’s response to any of the aforementioned factors.

The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein and elsewhere. Siris does not undertake any obligation to update, correct or otherwise revise any forward-looking statements.

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SOURCE Siris Capital Group, LLC

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Inspection Robots Market to Grow by USD 5.70 Billion from 2024-2028, with AI Driven Advantages Over Manual Methods Boosting Revenue – Technavio Report

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2 hours ago

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September 18, 2024

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NEW YORK, Sept. 18, 2024 /PRNewswire/ — Report with the AI impact on market trends- The global inspection robots market  size is estimated to grow by USD 5.70 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 19.86%  during the forecast period.  Advantages of robotic inspection over manual inspection is driving market growth, with a trend towards shift towards cloud-based solutions in inspection robots. However, rising levels of unemployment due to use of robotics  poses a challenge. Key market players include Blue Origin Enterprises LP, Cognex Corp., Cross Co., Cyberhawk Innovations, Eddyfi Technologies, FARO Technologies Inc., Flyability SA, GECKO ROBOTICS INC., General Electric Co., Genesis Systems, Groupe Gorge SA, Invert Robotics Group Ltd., IPG Photonics Corp., JH Robotics Inc, Mistras Group Inc., Robotic Automation Systems, SuperDroid Robots Inc., TechnipFMC plc, and Teradyne Inc..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (ROVs and Autonomous robots), End-user (Oil and gas, Petrochemicals, Food and beverages, and Others), and Geography (Europe, North America, APAC, South America, and Middle East and Africa)

Region Covered

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

Key companies profiled

Blue Origin Enterprises LP, Cognex Corp., Cross Co., Cyberhawk Innovations, Eddyfi Technologies, FARO Technologies Inc., Flyability SA, GECKO ROBOTICS INC., General Electric Co., Genesis Systems, Groupe Gorge SA, Invert Robotics Group Ltd., IPG Photonics Corp., JH Robotics Inc, Mistras Group Inc., Robotic Automation Systems, SuperDroid Robots Inc., TechnipFMC plc, and Teradyne Inc.

Key Market Trends Fueling Growth

The global inspection robots market is experiencing notable growth due to the adoption of cloud-based solutions. Cloud computing technologies are increasingly being utilized in this industry to facilitate data storage, processing, and analysis. Cloud-based inspection robots offer several advantages, including scalability, flexibility, and accessibility. Users can access inspection data from any location and collaborate with remote teams in real-time. Predictive maintenance is also facilitated through the analysis of historical inspection data. Cloud platforms enable secure sharing of inspection data among authorized users, promoting collaborative workflows and knowledge sharing. Real-time communication and updates ensure that stakeholders remain informed about inspection activities and results. The shift towards cloud-based solutions is driving the growth potential of the global inspection robots market by enhancing efficiency and effectiveness in inspection operations, improving asset management, and boosting overall performance. 

Inspection robots are gaining popularity in various industries due to the need for worker safety and the adoption of collaborative robots or cobots. These robots are equipped with sensors, cameras, and specialized tools to collect data from assets in manufacturing, construction, energy, and other sectors. They can access hard-to-reach areas, hazardous environments, and confined spaces, providing real-time visual information for maintenance assessment and safety inspections. Businesses are recognizing the complementary need for human workers and robots, with robots taking on repetitive, dangerous, or time-consuming tasks. Initial investment in inspection robots includes training and infrastructure modifications, but the long-term benefits include increased cost-efficiency, consistency, and informed decisions based on real-time data. However, economic downturns and travel restrictions may hinder robot deployment, making it essential for businesses to consider the versatility and advanced sensors of inspection robots, such as lidar, for maximum effectiveness. Despite the initial costs, the benefits of worker safety, human intervention, and data collection make inspection robots a worthwhile investment.

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Market Challenges

The integration of robots and robotic applications in various industries, including manufacturing, has significantly boosted productivity, economies of scale, and cost savings. However, this automation trend raises concerns about employment, as it may lead to job losses. Process automation, fueled by machine learning and artificial intelligence, is increasingly common in manufacturing, transportation, finance, and energy management. While these technologies offer performance advantages, they also pose a threat to white-collar and blue-collar jobs, particularly those involving routine, process-driven tasks. Unemployment resulting from automation may lead to income inequality and a need for workforce skill development. Governments in North America and Europe are addressing this challenge by formulating strategies to mitigate the impact of robotic automation on employment. As a result, the rising unemployment rate may hinder the growth of the global inspection robots market during the forecast period.The Inspection Robots Market is experiencing significant growth due to the increasing demand for automation in various industries. However, challenges persist. Injuries and accidents during robot operation pose safety concerns. Data organization and operational costs are key challenges in implementing robot inspections. Integration of cameras, electronics, and operating software requires specialized skills. Robots must navigate hazardous situations, making safety a top priority. The Hotel and Transport industries are major adopters, with the Internet of Things and Artificial Intelligence driving innovation. However, lack of standardization and testing methodologies hinder market growth. Mobile robots in the Mobile Robots segment lead in terms of adoption due to their ease of use and versatility. The Pharmaceutical segment benefits from robots’ efficiency and accuracy in product inspection. Patents and intellectual property are crucial for market leaders like Cognite, Honeybee Robotics, Universal Robots, Inuktun Services, LEO Robotics, and Superdroid Robotics. Robot types include collaborative robots and human-robot cooperation models, with AI and quadruped robot dogs leading the way. Safety, ease of use, and specialized training are essential considerations. Testing Type, such as non-destructive testing and visual inspection, are critical applications. The market’s future lies in the development of more advanced robots and the integration of AI for improved human-robot cooperation in quality control.

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Segment Overview 

This inspection robots market report extensively covers market segmentation by

Type 1.1 ROVs1.2 Autonomous robotsEnd-user 2.1 Oil and gas2.2 Petrochemicals2.3 Food and beverages2.4 OthersGeography 3.1 Europe3.2 North America3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 ROVs-  ROV (Remotely Operated Vehicles), also known as inspection robots, are mobile devices controlled from a central unit, typically tethered through a cable. Their diverse shapes and designs increase flexibility and performance, driving market growth. ROVs, primarily used for underwater exploration and inspection, have low power requirements and are easy to operate. Their affordability, low maintenance costs, and suitability for confined spaces make them popular in industries requiring assistance in navigating critical areas. These factors contribute to the revenue generation of the ROV inspection robot market.

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

Inspection robots are revolutionizing industries by automating quality control and product inspection processes, enhancing efficiency and accuracy while ensuring worker safety. These robots, including Cognite’s quadruped robot dog and ANYbotics’ human-robot cooperation models, employ AI and machine learning to identify faults, failures, leakages, and other critical issues. The adoption of cobots, such as those from Universal Robots and Mitsubishi Electric Corporation, allows for human-robot cooperation in various scenarios. Inspection robots are essential in unmanned facilities, remote locations, and harsh environments, where human presence is limited or dangerous. These robots can navigate complex terrain, inspect hard-to-reach areas, and work in extreme temperatures, ensuring the quality of products and the reliability of transportation systems. Fully autonomous inspection robots are increasingly being adopted to streamline processes and reduce costs, making them an indispensable tool for modern manufacturing and production.

Market Research Overview

Inspection robots are transforming industries by providing efficient and accurate solutions for quality control and maintenance assessment in various sectors. These robots, including quadruped robot dogs, utilize AI and collaborative robots for human-robot cooperation. They are equipped with sensors, cameras, and specialized tools to inspect assets and infrastructure in manufacturing, energy, construction, and other industries. The adoption of these robots is a complementary need to human workers, enhancing safety and consistency in product inspection and maintenance. Inspection robots are particularly valuable in harsh environments, confined spaces, and hazardous areas, where human intervention is risky or inefficient. Real-time data collection and analysis enable informed decisions, increasing cost-efficiency and effectiveness. Advanced sensors, such as lidar, ultrasonic, and thermal imaging, enable accurate defect detection and anomaly identification, leading to predictive maintenance and inspection efficiency. Businesses are investing in inspection robots to improve safety, reliability, and productivity. However, initial investment, training, and infrastructure modifications can be significant. Economic downturns and travel restrictions may impact robot deployment, but the long-term benefits outweigh the costs. Inspection robots are customizable, with options for mobile service robots, vision sensors, and semi-autonomous or fully autonomous operation. They are essential for critical scenarios, unmanned facilities, and remote locations, providing real-time data for informed decisions and ensuring safety in various industries, including aerospace, automotive, and oil and gas.

Table of Contents:

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

TypeROVsAutonomous RobotsEnd-userOil And GasPetrochemicalsFood And BeveragesOthersGeographyEuropeNorth AmericaAPACSouth 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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