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Mobile Robot Platforms Market size is set to grow by USD 2.17 billion from 2024-2028, Changes in global labor force boost the market, Technavio

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NEW YORK, June 25, 2024 /PRNewswire/ — The global mobile robot platforms market size is estimated to grow by USD 2.17 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 15.31%  during the forecast period. Changes in global labor force is driving market growth, with a trend towards increased emphasis on reducing hardware-related drawbacks. However, high cost of deployment  poses a challenge. Key market players include ABB Ltd., Amazon.com Inc., BlueBotics SA, Boston Dynamics Inc., Clearpath Robotics Inc., Dematic Group, Irobot Corp., KUKA AG, Locus Robotics Corp., Mekatronix, Mobile Industrial Robots AS, Neobotix GmbH, OMRON Corp., Robotnik Automation SLL, ROFA INDUSTRIAL AUTOMATION AG, SoftBank Robotics Group Corp., ST Engineering Aethon Inc., and Yaskawa Electric Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Mobile Robot Platforms Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 15.31%

Market growth 2024-2028

USD 2172.5 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

12.95

Regional analysis

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

Performing market contribution

APAC at 51%

Key countries

US, China, Japan, Germany, and South Korea

Key companies profiled

ABB Ltd., Amazon.com Inc., BlueBotics SA, Boston Dynamics Inc., Clearpath Robotics Inc., Dematic Group, Irobot Corp., KUKA AG, Locus Robotics Corp., Mekatronix, Mobile Industrial Robots AS, Neobotix GmbH, OMRON Corp., Robotnik Automation SLL, ROFA INDUSTRIAL AUTOMATION AG, SoftBank Robotics Group Corp., ST Engineering Aethon Inc., and Yaskawa Electric Corp.

Market Driver

The mobile robot platforms market is expected to grow during the forecast period due to advancements in traffic management, sensing and navigation systems, and safety management. Vendors are focusing on real-time map updates and multiple sensory inputs for decision-making. Improvements in object recognition and obstacle avoidance are crucial for increased efficiency. Enhancements in AI and machine learning capabilities will enable semantic obstacle classification and efficient obstacle avoidance strategies. These advancements will lead to improved collaboration between mobile robot platforms and humans. 

The Mobile Robot Platforms market is experiencing significant growth with various solutions and technologies in use. These platforms include those for logistics and transportation, surveillance and security, agriculture, and more. Robotic systems are being adopted for their efficiency and precision in tasks such as material handling, inventory management, and even farming. Companies are investing in advanced technologies like autonomous navigation, sensor integration, and machine learning to enhance the capabilities of these platforms. The trend towards automation and digital transformation is driving the demand for mobile robot platforms across industries. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The global mobile robot platform market faces significant challenges due to high deployment costs. These costs include equipment, modifications to infrastructure, and additional features for specific industries. For instance, telepresence solutions incur call monitoring and scheduling expenses. In agriculture, where seasons limit the utility of mobile robots, cost-effectiveness and ROI are crucial concerns. Vendors must address these challenges to expand the market during the forecast period.The Mobile Robot Platforms market faces several challenges. Components such as computers, screens, and batteries are essential for these platforms. However, making them compact and lightweight is a significant challenge. Additionally, ensuring their connectivity and integration with other systems is crucial. Costs are also a concern, as making these platforms affordable for businesses and consumers is essential. Furthermore, ensuring their reliability and durability in various environments is a challenge. Lastly, maintaining and updating their software and security is necessary to keep them functional and secure. Overall, addressing these challenges will be key to the success of mobile robot platforms in various industries.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This mobile robot platforms market report extensively covers market segmentation by  

Product 1.1 Software1.2 Services1.3 HardwareEnd-user 2.1 Logistics and warehousing2.2 Manufacturing industries2.3 Agriculture and mining2.4 Medical and healthcare2.5 OthersGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Software-  The software segment dominates the mobile robot platforms market due to rising demand for data analysis by end-users. Vendors like Aethon and OMRON provide software solutions with minimal infrastructure modifications. Functionalities such as fleet management, self-navigation, and improved ERP interfacing enhance the value of these software offerings. Benefits like traffic control, testing, and SLAM location technology drive the growth of the software segment in the market.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Mobile Robot Platforms Market is experiencing significant growth due to the integration of advanced technologies such as artificial intelligence, computer vision, and robotics in diverse industries. The aging population and changing conditions in agriculture require automated solutions, leading to the increased adoption of mobile robot platforms. Advanced technologies like computer science and electrical engineering are crucial in developing efficient and connected solutions for container terminals and e-commerce activity. Automated guided vehicles and electric cars are transforming logistics and transportation sectors, further boosting the market. The integration of these technologies in dynamic surroundings is essential to reduce costs and improve efficiency in various industries.

Market Research Overview

The Mobile Robot Platforms market encompasses advanced technologies and solutions designed for automating various industries. These platforms enable robots to navigate and operate in dynamic environments, offering benefits such as increased efficiency, improved accuracy, and enhanced safety. Key features of mobile robot platforms include autonomous navigation, adaptive behavior, and real-time data processing. Applications span across sectors like manufacturing, logistics, healthcare, agriculture, and more. Companies invest in research and development to create versatile and customizable solutions catering to diverse industry needs. The market is expected to grow significantly due to the rising demand for automation and the integration of advanced technologies like AI, machine learning, and computer vision.

Table of Contents:

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

ProductSoftwareServicesHardwareEnd-userLogistics And WarehousingManufacturing IndustriesAgriculture And MiningMedical And HealthcareOthersGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Galloway Company Expansion Nearly Doubles United States Industrial Sweetened Condensed Milk Capacity

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NEENAH, Wis., Jan. 9, 2025 /PRNewswire/ — Galloway Company, a leader in premium dairy ingredients, announces the completion of a major expansion to its production capabilities. The addition of a custom-built evaporator will nearly double the United States’ total capacity for industrial sweetened condensed milk. The expansion comes at a critical time, relieving a highly constrained market for premium concentrated dairy ingredients in the United States.

The expansion will set new industry benchmarks in capacity, operational efficiency, and quality.

The expansion will allow the company to serve existing clients with the same premium quality ingredients they’ve come to rely on, while also welcoming new customers for the first time in four years.

“Over the last four years, we’ve seen growing constraints from the bakery and confectionery markets, with extended lead times and maxed-out production capacities,” said Mike Hasler, Director of Industrial Sales, Galloway Company. “This expansion ensures we can not only meet the demand of our existing customers but also welcome new business.”

With the addition of the second evaporator, Galloway Company is building redundancy into its production process, minimizing the risk of service interruptions for clients. The new system will also enable greater customization of products, allowing the company to meet the needs of clients of all sizes—from full tanker trucks to smaller batches packaged in totes and 5-gallon pails.

The expansion will set new industry benchmarks in capacity, operational efficiency, and quality. The upgraded system includes high-efficiency motors and precision-engineered valve systems, with a fully automated homogenization process, advanced lactose seeding technologies, and state-of-the-art cooling systems. These updates minimize energy consumption and reduce environmental impact while advanced quality control measures ensure consistent performance and accuracy. 

For more information or to place an order, please visit gallowaycompany.com or contact Mike Hasler at mhasler@gallowaycompany.com.

About Galloway Company

Galloway Company is the number one supplier of cream liqueur bases and sweetened condensed milk in the U.S. Located in Neenah, Wisconsin, Galloway specializes in producing unique formulations of condensed dairy blends and beverage bases. Classic Mix Partners, a subsidiary of Galloway Company, is the largest manufacturer of frozen dairy dessert mixes in Wisconsin, serving customers nationwide. For more information on our complete line of innovative dairy product mixes and bases, visit gallowaycompany.com.

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SOURCE Galloway Company

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SOCi Scales its AI Agent Solutions While Bolstering Path to Profitability

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SAN DIEGO, Jan. 9, 2025 /PRNewswire/ — SOCi, Inc., the leader in AI-powered marketing solutions for multi-location businesses, today announced initial results from its AI Agent strategy. In less than eight months, SOCi’s Genius AI™ solutions now account for more than 10% of the company’s annual recurring revenue (ARR). These results cap off a year of remarkable milestones for SOCi, including surpassing $100 million in ARR—a feat that places the company among the elite Centaur SaaS organizations globally.

In 2025, the company plans to continue to enhance and expand its advanced Genius AI™ technology, allowing SOCi’s AI Agents to take on even more local marketing tasks at scale and deliver unprecedented efficiency and value for SOCi’s nearly 1,000 multi-location customers. Additionally, SOCi is committed to accelerating its journey to profitability by strategically realigning resources to focus on high-impact areas with proven success. This reorganization is designed to enhance efficiency, drive scalability, and position the company for sustainable, long-term growth.

“We remain committed to revolutionizing the industry with our AI Agent innovation and Genius solutions, delivering the first digital workforce to drive unparalleled value for our customers,” said Afif Khoury, CEO of SOCi. “Simultaneously, we are focused on achieving sustainable growth by prioritizing financial stability and operational efficiency, solidifying our position as the leader in marketing innovation.”

Recently recognized as an Inc. 5000 fastest-growing company for the seventh consecutive year, and named one of Fast Company Most Innovative Companies, SOCi continues to expand its reach into new high-growth markets with its cutting-edge local marketing solutions. Over the past two years, the company has forged partnerships with iconic enterprises such as Ford, Jersey Mike’s Subs, and Ace Hardware, while establishing a strong presence in the Financial Services and Insurance sectors with notable partners like Liberty Tax and Motto Mortgage.

About SOCi, Inc.
SOCi is the leader in AI-powered marketing solutions for multi-location businesses. With its proprietary Genius AI™ and suite of Genius Agents™, SOCi provides a first-of-its-kind, AI-powered digital workforce capable of handling the workload of 1,000 local marketers™, empowering brands to achieve unmatched digital visibility, strengthen customer engagement, and scale faster than ever before.

SOCi is recognized by Fast Company as one of the World’s Most Innovative Companies, and is trusted by nearly 1,000 top brands—including Ford, Ace Hardware, Kumon, Liberty Tax, and more—to automate and optimize local marketing tasks across all locations. Founded in 2012 and backed by leading strategic investors, SOCi is transforming how multi-location brands manage and scale their marketing efforts. Learn more at www.soci.ai or contact us at hello@soci.ai.

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SOURCE SOCi, Inc.

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Verdantas Acquires M-H-M, Inc. Expanding Water Services Throughout Northern California

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TAMPA, Fla., Jan. 9, 2025 /PRNewswire/ — Verdantas, a leader in digitally enabled technical consulting solutions for the environment, water, and energy transition markets, backed by Sterling Investment Partners, is pleased to announce the acquisition of M-H-M, Inc. (MHM). The acquisition aims to enhance Verdantas’ expertise in the northern California water market and expand the services offered by both firms.

Based in Marysville, California, MHM brings invaluable expertise and experience to Verdantas, broadening the depth and range of services within the water, and land development markets with strong relationships with municipalities, public agencies, and private clients. The integration of MHM into Verdantas enhances its water service capabilities bringing valuable expertise in water supply and storage, distribution, irrigation, water master planning, flood control, storm drainage, as well as land development and surveying.

Jesse Kropelnicki, CEO of Verdantas, stated about the acquisition: “Integrating MHM into Verdantas will continue our growth strategy by further diversifying our business on the west coast, and by furthering our capabilities in the water market. This expansion enhances our expertise and ability to serve water clients more effectively in northern California. Additionally, MHM improves our land development and surveying capabilities, which will enhance other services we provide in the same geography. We look forward to providing their team with new opportunities for growth while they continue to contribute to our mission.”

California brings unique engineering design complexities. By partnering with Verdantas, we can now integrate robust in-house geotechnical and geological, structural engineering, and environmental expertise into our projects that we previously outsourced,” stated Sean Minard, President of MHM. “Our collaboration with Verdantas aims to expand our service offerings, providing comprehensive solutions in flood control, storm drainage, and water resource management as well as land development. This growth will add value to our current clients in Northern California, enabling us to deliver a more extensive suite of engineering and environmental solutions.”

James Soldano, Partner at Sterling, said, “We are proud to support Verdantas in this strategic acquisition of MHM. This move reflects our shared vision of growing Verdantas’ presence throughout the western United States and addresses the critical need for water-related expertise in a region facing challenges related to water resources and flood control.”

This acquisition is a vital component of the company’s sustainable service offerings objectives. By participating in significant projects, Verdantas plans to address critical water challenges, advocate for conservation, improve water quality, and encourage sustainable practices.

About Verdantas

Verdantas is a leader in digitally enabled technical consulting solutions for the environment, water, and energy transition markets. Blending balanced strengths in environmental and engineering expertise, we partner with clients and communities to create comprehensive solutions that contribute to a sustainable future. With a team of over 1,700 professionals nationwide, we harness diverse skills and innovative technologies to address complex challenges, protect vital resources, and foster resilient communities. For more information, visit www.verdantas.com.

About Sterling Investment Partners

Sterling Investment Partners is a leading private equity firm that has been building leading middle-market companies for over 30 years with a highly experienced, cohesive team of senior investment professionals. Sterling focuses on control investments in value-added distribution and business services, acquiring businesses that the firm believes have strong, sustainable competitive advantages and significant opportunities for value creation. Over its history, Sterling has completed over 230 transactions, representing over $31 billion in aggregate value, and was recently ranked a Top 10 performing middle market private equity firm globally by Dow Jones-HEC Paris. For more information, visit www.sterlinglp.com.

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SOURCE Verdantas LLC

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