Technology
Robotics System Integration Market to Grow by USD 4.95 Billion (2024-2028), Rising Demand for Cobots Driving Revenue, AI Transforming the Market – Technavio
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NEW YORK, Nov. 21, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global robotics system integration market size is estimated to grow by USD 4.95 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 9.59% during the forecast period. Increase in demand for cobots is driving market growth, with a trend towards increase in demand for application-specific industrial robots. However, high cost of services for robotic system integration poses a challenge.Key market players include Amtec Solutions Group Inc., Burke Porter Group, CNC Robotics Ltd., Concept Systems Inc., FH Automation, Geku Automation, Hitachi Ltd., IPG Photonics Corp., JH Robotics Inc, MESH Automation Inc., Midwest Engineered Systems Inc., Mitsui and Co. Ltd., Motion Controls Robotics Inc., Peak Analysis and Automation Ltd., Phoenix Control Systems Ltd., Rhein Nadel Automation GmbH, Scott Technology Ltd., TASI Group, TW Automation, and United Robotics Inc..
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Forecast period
2024-2028
Base Year
2023
Historic Data
2018 – 2022
Segment Covered
Application (Material handling, Welding and soldering, Assembly line, and Others), End-user (Electronics, Automotive, Healthcare, Aerospace and defence, and Logistics and others), and Geography (APAC, Europe, North America, South America, and Middle East and Africa)
Region Covered
APAC, Europe, North America, South America, and Middle East and Africa
Key companies profiled
Amtec Solutions Group Inc., Burke Porter Group, CNC Robotics Ltd., Concept Systems Inc., FH Automation, Geku Automation, Hitachi Ltd., IPG Photonics Corp., JH Robotics Inc, MESH Automation Inc., Midwest Engineered Systems Inc., Mitsui and Co. Ltd., Motion Controls Robotics Inc., Peak Analysis and Automation Ltd., Phoenix Control Systems Ltd., Rhein Nadel Automation GmbH, Scott Technology Ltd., TASI Group, TW Automation, and United Robotics Inc.
Key Market Trends Fueling Growth
The Robotics System Integration market is experiencing significant growth as industries seek to automate processes and increase efficiency. Industrial robots, including collaborative robots or cobots, are being integrated into manufacturing units in sectors like automotive, electronics, aerospace and defense, and more. Robotics system integrators provide consulting services to help businesses optimize their infrastructure and application integration. Next-generation robots are being developed with advanced hardware and software for tasks in material handling, logistics, healthcare, defense, IT and telecom, and more. The robotic industry is also seeing accelerated adoption due to advancements in AI, machine learning algorithms, IoT sensors, and data analytics. This leads to real-time monitoring, improved productivity, and reduced operational costs. Robotic system integrators play a crucial role in configuring and optimizing cohesive robotic systems. With the increasing use of cobots, labor costs are becoming more competitive. Skilled robotics engineers and technicians are in high demand to ensure the successful implementation of these advanced technologies. However, cybersecurity concerns remain a challenge as robots become more integrated into critical infrastructure. Dynamic Automation Solutions offer solutions to address these concerns while ensuring political stability and dynamic automation.
The industrial robotics market is experiencing significant growth due to the increasing adoption of robots in industries previously relying on manual labor. This trend is particularly noticeable in sectors facing workforce deficits, such as construction. For instance, in regions like the Nordic countries, where construction is on the rise, there is an emerging need for specialist integrators to facilitate the implementation of robots for improved efficiency. Small and medium-sized enterprises (SMEs) represent a substantial opportunity for the expansion of the global robotics system integration market.
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Market Challenges
The Robotics System Integration market is experiencing significant growth as more industries automate their processes with industrial robots. However, integration of these robots presents challenges such as programming and configuration. Robotics system integrators play a crucial role in ensuring a cohesive system by handling infrastructure and application integration. Industries like automotive, electronics, aerospace and defense, and manufacturing units are leading the way in robotic automation. Next-generation robots, including collaborative robots (cobots), are increasingly being adopted for material handling applications. Robotic system integrators help optimize productivity, reduce operational costs, and improve product quality. Challenges include the need for skilled engineers and technicians, cybersecurity concerns, and the integration of IoT sensors, data analytics, and real-time monitoring. Advancements in robotics and AI are accelerating adoption in various sectors, from logistics and healthcare to defense and finance. Robots are being used for tasks ranging from bomb disposal and reconnaissance to surgeries and patient care. Dynamic Automation Solutions provides comprehensive consulting services to help businesses navigate these challenges and maximize the benefits of robotics and automation.System integrators play a crucial role in the deployment of industrial robots for businesses. The process involves various formalities, including contract signing, competitive bidding, and legalities. Vendors must focus on streamlining these pre-purchase procedures to save end-users time and money. Robotic integration market players offer software packages for seamless robot programming and integration. Innovations in the process, such as efficient contract negotiations and quick evaluations, are essential to maintain competitiveness. By optimizing these steps, integrators can help businesses effectively incorporate robots into their operations.
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Segment Overview
This robotics system integration market report extensively covers market segmentation by
Application 1.1 Material handling1.2 Welding and soldering1.3 Assembly line1.4 OthersEnd-user 2.1 Electronics2.2 Automotive2.3 Healthcare2.4 Aerospace and defence2.5 Logistics and othersGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa
1.1 Material handling- The robotics system integration market for material handling is experiencing significant growth, particularly in industries such as automotive, chemicals, electrical and electronics, industrial machinery, and food and beverage. Robots are increasingly being used for material handling due to their ability to work on multiple processes simultaneously and improve process efficiency. In the automotive industry, the need to move bulk payloads efficiently has resulted in high demand for robotics system integration. The chemical industry also represents a major consumer due to the handling of hazardous materials and the desire to reduce liability and refurbishment costs. In the electrical and electronics industry, the trend towards miniaturization necessitates high throughput and quality, making robots an attractive solution. The industrial machinery industry seeks to reduce worker fatigue, accidents, and costs by automating production processes, including material handling. In the food and beverage industry, robots help improve efficiency in material handling and packaging a variety of SKUs within a short timeframe. Companies like Coop in the food industry have automated their warehousing, distribution, and order fulfillment functions to address labor shortages, increasing wages, and consumer expectations. As the demand for material handling automation continues to grow, manufacturers, system integrators, and consultancies stand to benefit from this trend in industries worldwide.
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Research Analysis
Robotics system integration refers to the process of bringing together industrial robots, programming software, and infrastructure to create a cohesive automation solution. This market encompasses the integration of units from various robotics manufacturers to meet specific manufacturing tasks in industries such as automotive, electronics, aerospace and defense, and material handling applications. The next generation of robots, including collaborative robots, are driving growth in this sector. Robotic system integrators provide configuration, optimization, hardware, and software solutions to automate processes in manufacturing units. The goal is to improve efficiency, reduce costs, and enhance productivity in the robotic industry. Mesh Engineering, for instance, offers integration services for Robots, Automation, and Infrastructure, enabling seamless communication between hardware and software components.
Market Research Overview
Robotics system integration refers to the process of bringing together industrial robots, collaborative robots (cobots), and related hardware, software, and infrastructure to create a cohesive automation solution. This involves programming, configuration, optimization, and application integration to automate tasks in manufacturing, material handling, automotive, electronics, aerospace and defense, and various industries. The next generation of robots is characterized by advancements in AI, machine learning algorithms, IoT sensors, data analytics, and real-time monitoring. Robotic system integrators play a crucial role in the robotic industry, providing consulting services, infrastructure integration, and productivity improvements, while reducing operational costs and enhancing product quality. The adoption of robotics is accelerating due to advancements in robotics and AI, as well as the need for labor cost savings and dynamic automation solutions. Skilled robotics engineers and technicians are in high demand to meet the increasing demand for robotic systems in manufacturing, logistics, healthcare, defense, IT and telecom, data centers, network management, bomb disposal, reconnaissance, surveillance, banking, financial services, insurance, inspection maintenance, exploration, surgeries, medications, patient care, political stability, and more. Robotic system integration also involves dealing with cyberattacks and ensuring the security of robotic systems.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
ApplicationMaterial HandlingWelding And SolderingAssembly LineOthersEnd-userElectronicsAutomotiveHealthcareAerospace And DefenceLogistics And OthersGeographyAPACEuropeNorth AmericaSouth 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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ANAB to Host Webinar on Department of Defense Cyber Workforce Qualification Program and ANAB Accreditation under DoD Directive 8140
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Join ANAB and Special Guests from the Department of Defense
NEW YORK, Nov. 22, 2024 /PRNewswire/ — The ANSI National Accreditation Board (ANAB) is hosting an informative webinar on the U.S. Department of Defense (DoD) Cyber Workforce Qualification Program and ANAB Accreditation under DoD Directive 8140, sharing insights into the DoD 8140 manual requirements and ANAB’s role in the accreditation process. The session will feature representatives from the DoD, who will be available for questions.
“DoD Cyber Workforce Qualification Program and ANAB Accreditation under DoD Directive 8140” will be held on December 11 from 11:30 a.m.-12:30 p.m. ET. Register via ANAB’s website.
As the manual that establishes policies and procedures for the DoD’s cyber workforce, DoD 8140 supports military service members, DoD civilians, and contractor employees performing cyber work within the scope of their assigned cyber element (IT, cyber enablers, cyber effects, cyber [intel], or cybersecurity). This informational session will provide an overview of:
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For more information about this webinar, please contact ANAB’s Caitlin O’Connell (202.384.0184; coconnell@anab.org).
About ANAB
The ANSI National Accreditation Board (ANAB), a wholly owned subsidiary of the American National Standards Institute (ANSI), is the largest multi-disciplinary ISO/IEC 17011 accreditation body in North America, with comprehensive signatory status across the multilateral recognition arrangements of the International Accreditation Forum (IAF) and International Laboratory Accreditation Cooperation (ILAC). The ANAB accreditation portfolio includes management systems certification bodies, calibration and testing labs, product certification bodies, personnel credentialing organizations, forensic test and calibration service providers, inspection bodies, police crime units, greenhouse gas validation and verification bodies, reference material producers, and proficiency test providers. For more information, visit www.anab.org.
About ANSI
The American National Standards Institute (ANSI) is a private non-profit organization whose mission is to enhance both the global competitiveness of U.S. business and the U.S. quality of life by promoting and facilitating voluntary consensus standards and conformity assessment systems, and safeguarding their integrity. Its membership is comprised of businesses, professional societies and trade associations, standards developers, government agencies, and consumer and labor organizations.
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Pricing Software Market Skyrockets to $2,875.61 Million by 2031 Dominated by Tech Giants – Epicor Software Corp, PROS Holdings Inc and Revalize, Inc | The Insight Partners
Published
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November 22, 2024By
The global pricing software market is set for explosive growth, with projections indicating a surge to $2,875.61 million by 2031. This remarkable expansion, driven by increasing penetration of mobile devices and boosting the subscription base for pricing management software or platforms.
NEW YORK, Nov. 22, 2024 /PRNewswire/ — According to a new comprehensive report from The Insight Partners, the Global Pricing Software Market is observing significant growth. Business processes are becoming increasingly dependent on the cloud and advanced automation systems. Thus, rising upgrades in existing legacy pricing management and optimization software and the growing need for competitive pricing strategies are driving the pricing software market. For Detailed Market Insights, Visit: https://www.theinsightpartners.com/reports/pricing-software-market
The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Pricing Software market comprises a vast array of wall and deck mount which are expected to register strength during the coming years.
Market Overview and Growth Trajectory:
Pricing Software Market Growth: According to an exhaustive report by The Insight Partners, the Pricing Software Market is experiencing significant growth, driven by digital transformation globally and continuous growth in manufacturing industry. The market, valued at $1,204.44 million in 2023, is expected to grow at a Compound Annual Growth Rate (CAGR) of 11.5% during 2023–2031.
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Considering the current environment where inflation, consumer awareness, and the number of players are increasing, pricing has become one of the important factors as it affects the overall business and its growth. Competitive pricing strategies help companies across the globe to reduce losses and increase the profitability of the company by analyzing a variety of factors that are affecting the pricing of particular goods and services. One of the factors that allow users to understand is price elasticity and demand dynamics. Price elasticity is one of the notable factors in the business as it measures customer sensitivity toward price changes. This helps identify consumer behavior and further optimize the price accordingly. In addition, it also helps analyze the competitors’ prices across the sales channels. With this data, companies can come up with competitive prices as the competition is getting fierce and the need for competitive advantages is increasing. This competitive pricing strategy is highly beneficial in setting dynamic prices. Owing to the increased penetration of e-commerce and other online marketplaces, the trends of dynamic prices have increased. Pricing software helps the users not only identify customer behavior and competitors’ analysis but also helps in pricing management across the sales channel, which ultimately leads to increased adoption of the pricing software.
Digital Transformation globally: Digital technologies are transforming how businesses and consumers operate across the globe. Due to the COVID-19 pandemic, there was a rapid rise in the adoption of digital technologies. Digitization saved many companies during the pandemic as they adapted to remote work cultures and online operations. Developing economies such as India, China, South Africa, Brazil, and Argentina are adopting advanced digital technologies in various sectors, such as manufacturing, manufacturing, e-commerce and retail, and IT and telecom, to enhance productivity and economic growth. For instance, the Digital India initiatives launched by the Indian government improved the online infrastructure and increased internet accessibility in most of the rural areas. With these initiatives, the penetration of e-commerce and other online marketplaces increased, ultimately driving the demand and production of consumer goods. Many companies across the globe are prioritizing digital transformation over other upgrades of business processes.
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Data analytics has become a powerful tool for businesses to benefit from valuable insights and make informed decisions due to the massive amount of data generated. Data analytics is experiencing a revolution in tools, technologies, applications, and adoption. The industry is evolving rapidly, and companies are heavily investing in turning data and analytics into competitive advantage. According to most big data experts, the amount of data generated is expected to increase dramatically during the forecast period. For instance, the report from Seagate’s Data Age 2025 estimates that the amount of data generated worldwide is expected to reach 175 zettabytes by 2025. The massive increase in the number of people working from home or remote locations, studying, and spending time on the internet is driving data expansion. Such a high amount of data, when processed with the help of artificial intelligence integrated within the pricing software, is expected to provide a detailed and very insightful analysis to its end users, which will help them to optimize and manage the price.
Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific. Asia Pacific is expected to register the highest CAGR during the forecast period.
Pricing Software Market Segmentation, Applications, Geographical Insights:
Based on type, the market is divided into cloud based and on-premise. The cloud segment held the largest share of the pricing software market in 2023.Based on enterprise size, the market is bifurcated into small and medium enterprises and large enterprises. The large enterprises segment held the largest share of the Pricing Software market in 2023.Based on industry vertical, the market is categorized into manufacturing, travel and hospitality, it and telecom, retail and e-commerce, food and beverages, BFSI and others. The manufacturing segment held the largest share of the pricing software market in 2023.The Pricing Software market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.
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Key Players and Competitive Landscape:
The Pricing Software Market is characterized by the presence of several major players, including:
Epicor Software CorpPROS Holdings IncRevalize, IncCompetera LimitedPrice f(x) AGPrisyncWebcentric D.O.O.Zilliant IncBlackCurve Solutions LimitedSkuuudlePriceBeamFlintfoxSniffie Software Ltd.EversightMinderestWiser Solutions, Inc.ReactevPrice EdgeToptal, LLCRetalon
These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.
Pricing Software Market Recent Developments and Innovations:
“The vision of Sniffie, a startup from Helsinki, Finland is to democratize ecommerce by enabling the equal use of machine learning in pricing for small and mid-sized ecommerce businesses. To reach this goal, Sniffie secured a total of US$2.75M seed funding.””Wiser Solutions launched the next iteration of its Commerce Execution Suite, with enhanced offerings in its Price Intelligence, Reseller Intelligence, and Retail Execution products. These improvements are made possible due to strategic partnerships in the commerce execution space and targeted investments into product and feature enhancements specific to the everyday jobs of prospects and customers.””Tech Mahindra, a leading provider of digital transformation, consulting, and business re-engineering services and solutions, announced a global strategic partnership with Retalon, a leader in retail AI and predictive analytics solutions. The partnership will enable Retail and CPG organizations to gain better customer insights, improve decision-making, and enhance operational efficiency.””In 2023, Epicor, a global leader of industry-specific enterprise software to promote business growth, announced that for the second time in a row, it has been positioned as a Leader in the Nucleus Research Configure Price Quote (CPQ) Technology Value Matrix published in November 2023. Nucleus evaluated Epicor CPQ is a comprehensive solution that streamlines the quoting process by automating configuration, pricing, and quoting. It enables businesses to handle complex product configurations efficiently, set accurate pricing based on rules, and automate the generation of professional quotes. Epicor CPQ can be used as a standalone product or integrated with the Epicor Industry ERP Cloud.””In 2024, Flintfox was named a member of the prestigious Microsoft Business Applications Inner Circle 2024/2025 for the eighth year running. The Inner Circle is one of the ways in which Microsoft recognizes its partners and is an exclusive peer-to-peer network between partners and Microsoft executives and leaders. As a member of Microsoft Business Applications Inner Circle, Flintfox has access to exclusive resources and early visibility of the Microsoft product roadmap, ensuring the circle can continue to enhance and develop the Flintfox solution in line with customers’ needs and infrastructure.”
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Pricing Software Market Drivers, Challenges, Future Outlook and Opportunities:
According to the experts, the more data is processed within the pricing software, the more accurate results can be obtained. Thus, massive data generation, increased investments in data analytic tools, and the presence of AI-integrated pricing software are expected to generate lucrative opportunities for the pricing software market.
According to Cisco, by 2024, ~75% of startups in Canada will have a digital-first strategy. Moreover, over 50% of SMEs reorganized their company structure in Canada. The rising adoption of digital technologies has increased the demand for the replacement of conventional pricing management and data collection methods. The growing preference for digital transformation is driving the pricing software market.
Based on industry, the market is segmented into manufacturing, travel and hospitality, IT and telecom, retail and e-commerce, food and beverages, BFSI, and others. The manufacturing industry registered the largest market share of 23.6% in 2023 in the pricing software market and is projected to maintain its dominance during the forecast period. In manufacturing, companies are required to migrate data while upgrading enterprise resource planning platforms. The companies are investing in building new data warehouses and advanced pricing analytics tools by moving their existing systems to the cloud platform. Cloud migration service is gaining popularity in the manufacturing sector owing to its benefits, such as cost savings, improved pricing management, high scalability, collaboration, security, productivity, and automation. Globally, the manufacturing industry is witnessing substantial growth owing to the surging investments in digitalization and price management platforms. In addition, manufacturing companies across the globe are focused on expanding their geographical presence. This is influencing the rise in the number of distributors across the globe. Additionally, owing to the increasing competition, pricing software plays an important role in the manufacturing sector, influencing companies to adopt competitive pricing strategies.
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The cloud-based segment held a larger share of the pricing software market in 2023, accounting for 72.9%. The segment is expected to account for a share of 75.2% by 2031. An on-premises deployment is an approach wherein pricing management and optimization software are implemented and used from clients’ in-house servers. These traditional solutions offer customers complete control over pricing platforms, applications, systems, and data, which can be handled and managed by their internal staff. In organizations where user credentials are critical for business operations, such as banks and insurance companies, the adoption of on-premises deployment is higher as it can control the systems from the enterprise’s physical or owned location. Further, the on-premises segment is likely to witness steady growth due to the constantly growing adoption of pricing software solutions across banks, insurance companies, and the government sectors. eZee FrontDesk offers on-premise pricing software or revenue management solutions, including hotel channel management.
Conclusion:
The integration of AI and machine learning is expected to become a key trend in the pricing software market, transforming how organizations manage and optimize prices. In the continuously changing world of business and competitive scenarios, the need for more accurate data is high. Adoption and integration of such technologies to better understand their customers and optimize strategies for increased profits. With the help of Artificial Intelligence pricing engines, companies can analyze the data at minute levels such as weather, seasonality, days of week and time, events, and holidays. This type of software goes beyond the conventional pricing analysis methods and uses advanced and modern algorithms to analyze complex patterns, customer behavior, market trends, and other related factors in real time.
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With projected growth to $2,875.61 Million by 2031, the Pricing Software Market represents a significant opportunity for component providers, system technology integrators, system manufacturers, investors, industry stakeholders, end users and others. By staying abreast of market trends, embracing innovation, and focusing on quality and performance, companies can position themselves for success in this dynamic and evolving market landscape.
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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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Chernoff Newman Launches Test Unit, a Hybrid PR/Social/Creative Offering
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CHARLESTON, S.C., Nov. 22, 2024 /PRNewswire/ — Chernoff Newman, a Southeast-based integrated marketing agency, has launched Test Unit, a hybrid offering made to give small and mid-sized brands a crack at big attention.
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The agency’s long-term and trusted client relationships were the inspiration for the new offering and key to its success. “Test Unit is a reformulation of our assets and strengths,” LaMotte said. “When we bring it to clients, we’re relying on them to take a leap…and to trust us like they always have.”
About Chernoff Newman
Chernoff Newman is a fully integrated marketing communications firm specializing in sectors like agriculture, education, healthcare, and infrastructure. Core services include advertising, branding, public relations, and crisis management. Offices are in Columbia and Charleston, SC; Charlotte, NC; Orlando, FL; and Washington, DC. Learn more at chernoffnewman.com.
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