Artificial Intelligence
Industrial Automation Market to Exhibit 8.9% CAGR by 2027; Advent of Industry 4.0 in Manufacturing Processes to Stimulate Growth: Fortune Business Insights™
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Pune, Aug. 13, 2020 (GLOBE NEWSWIRE) — The global industrial automation market size is expected to exhibit a CAGR of 8.9% between 2020 and 2027. This is ascribable to the increasing adoption of modern technologies such as industrial internet of things (IIoT) owing to the advent of Industry 4.0 across several manufacturing industries globally. Fortune Business Insights, in its latest report, titled “Industrial Automation Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, and Software), By Industry (Discrete Industry, and Process Industry), and Regional Forecast, 2020-2027.”, observes that the market was worth USD 168.81 billion in 2019 and is likely to reach USD 326.14 billion by 2027.
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The widespread effect of the global pandemic, COVID-19, has been felt across several economies that are facing unprecedented loss. Owing to the lockdown announced by the government agencies to curb the spread of the novel coronavirus, several industries have been on a standstill with zero operational activities. However, a collective effort from the government as well as the industries is anticipated to bring the economy back on track and aid in resuming industrial activities.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Industrial automation is a type of process that reduces human intervention by adopting information technologies such as artificial intelligence, internet of things (IoT), and machine learning algorithms to efficiently handle several machineries and processes within the industry. There are three types of industrial automation such as programmable automation, fixed automation, and flexible automation. It is beneficial in improving overall productivity in manufacturing industries, and increasing personnel safety by substituting them with automated systems in volatile environment.
What does the Report Include?
The market report includes a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period. The report includes information sourced from the advice of expert professionals from the industry by our research analyst using several research methodologies for the market. The competitive landscape offers further detailed insights into the strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2019 and 2026.
DRIVING FACTORS
Leveraging Modern Technologies Owing to Advent of Industry 4.0 to Favor Growth The rise of advanced digital industrial technologies is dramatically transforming the industrial scenario. Industry 4.0 has helped manufacturing industries improve productivity, flexibility, and efficiency in industrial processes at astonishingly reduced operational costs. In addition to this, the industrial revolution is rapidly shifting the economic dynamics, fostering industrial growth, and changing the overall competitiveness of the companies. Adoption of advanced technologies such as industrial internet of things (IIOT) is propelling the companies to allow field devices to interact and communicate with each other with centralized controllers while ensuring reliable decision making and enabling accurate real-time responses. Increasing adoption of modern digital technologies backed by the Industry 4.0 revolution is expected to drive the global industrial automation market during the forecast period.
Europe to Remain Dominant; Increasing Production of Robots to Augur Growth
Among all regions, Europe was worth USD 54.30 billion in 2019 and is expected to witness considerable growth by holding the highest global industrial automation market share during the forecast period. This is attributable to the increasing production of robots by local manufacturers. The market in Asia Pacific is anticipated to witness significant growth owing to the increasing production of technical components such as sensors, and microchips, among others, in countries such as China in the region between 2020 and 2027. COMPETITIVE LANDSCAPE
RockWell Automation Announcing Latest Enhancement for its Digital Technology to Strengthen Position
In June 2020, Rockwell Automation, Inc. in collaboration with PTC, announced the launch of enhanced features for its FactoryTalk Innovation Suite. According to the company, the Suite launched in 2018, has been highly successful in helping the customers to achieve considerable operational efficiency while improving quality and reducing unplanned downtime. The latest enhancement enables the customers to maintain real-time data from critical operational sources by adopting advanced technologies such as data analytics and industrial IoT.
Industrial Automation Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/101589 Detailed Table of Content
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REGIONAL INSIGHTS
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Artificial Intelligence
Delvitech and Eurotech: a partnership to take quality control to the next level
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From Mathematical Models to AI-driven Automated Optical Inspection
AMARO, Italy, July 4, 2024 /PRNewswire/ — Delvitech, a leader in 3D automated optical inspection for assembled printed circuit boards leveraging artificial intelligence, has joined forces with Eurotech, a global innovator in ultra-high-performance Edge AI Computers, to revolutionize quality control technology.
Delvitech’s patented integrated optical inspection technology, designed to collect comprehensive data to drive neural networks in optical inspection, gains crucial support from Eurotech’s hardware. This collaboration boosts the efficiency of assembling printed circuit boards, greatly increasing assembly machine uptime and significantly reducing waste and rework.
Employing the patented optical head, Delvitech captures detailed images that are processed through its software, adept at detecting assembly and welding errors in the electronics manufacturing process. Eurotech’s hardware complements this system by offering the speed and computational accuracy necessary to handle the massive influx of data required for the algorithms to produce desired outcomes.
This integrated 3D solution is highly competitive and flexible, allowing customization to meet specific customer needs. As board electronics become increasingly complex, Delvitech’s technology surpasses traditional mathematical models by analyzing a variety of components, such as metal parts, transparent glues, and silicone elements.
Moreover, this collaboration enables Delvitech and Eurotech to offer a solution that not only identifies errors but also drives AI models to detect deviations and trends, proactively preventing future errors and enhancing process quality.
“In an environment where quality control demands are continuously growing, it is crucial to develop optical inspection systems with optimal performance and partner with providers of state-of-the-art solutions. Eurotech offers highly reliable solutions, extensively tested to meet our high-performance requirements,” said Roberto Gatti, CEO of Delvitech.
Paul Chawla, CEO of Eurotech, added, “Our collaboration with Delvitech showcases the power of our Edge AI solutions. We empower our partners to deliver efficient, cost-effective, and scalable solutions where accuracy and speed are critical.”
Currently focusing on optical control of boards and soon semiconductors, the partnership aspires to expand into other sectors, including medical and food, with a strong emphasis on cybersecurity and sustainability.
As Delvitech and Eurotech continue to innovate, they bring unique strengths to the table. Delvitech commits to “less errors, less waste, less CO2, more future,” while Eurotech focuses on “more security, more resilience, more efficiency,” ensuring effective asset management and rapid scalability. These commitments reflect common shared goals of exceeding market and customer expectations today and in the future.
About Eurotech
Eurotech (ETH.IM) is a multinational company that designs, develops, and supplies Edge Computers and Internet of Things (IoT) solutions – complete with services, software and hardware – to system integrators and enterprises. By adopting Eurotech solutions, customers have access to IoT building blocks and software platforms, to Edge Gateways to enable asset monitoring, and to High Performance Edge Computers (HPEC) created for Artificial Intelligence (AI) applications. To offer increasingly comprehensive solutions,
Eurotech has partnered with leading companies in their field of action, with the view of creating “best in class” solutions for the Industrial Internet of Things.
Learn more
Contacts
Corporate Communication Federica Maion Tel. +39 0433 485411 [email protected]
About Delvitech
Delvitech is a Swiss based leading provider of AI-based automatic optical inspection (AOI) solutions aimed at revolutionizing the printed circuit board (PCB) assembly and electronics manufacturing landscape. With a focus on innovation and quality, Delvitech is capable of elevating both cost and process efficiencies, ensuring scalability and inspection repeatability on all production lines. It aspires to make the PCB production process swifter, more reliable, and highly scalable by not only detecting errors, but inspecting the whole production process. Delvitech solution is not just about minimizing errors; it is a commitment to reducing waste, cutting down CO2 emissions, and pioneering the path as the first sustainable AOI solution.
Contacts
Marketing DepartmentFederica RiosaTel. +41 916 460 [email protected]
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Artificial Intelligence
Converge Technology Solutions Announces Deconsolidation of Portage CyberTech Inc.
![converge-technology-solutions-announces-deconsolidation-of-portage-cybertech-inc.](https://roboticulized.com/wp-content/uploads/2024/07/151017-converge-technology-solutions-announces-deconsolidation-of-portage-cybertech-inc.png)
TORONTO and GATINEAU, QC, July 3, 2024 /PRNewswire/ — Converge Technology Solutions Corp. (“Converge” or the “Company”) (TSX: CTS) (FSE: 0ZB) (OTCQX: CTSDF) today announced that, as of June 27, 2024, the Company has fulfilled the criteria necessary for the deconsolidation of its majority owned subsidiary, Portage CyberTech Inc. (“Portage CyberTech”) for accounting purposes, following Converge’s decision to relinquish its right to majority representation on the board of directors of Portage CyberTech (the “Portage Board”) pursuant to a voting agreement dated as of June 27, 2024 (“Voting Agreement”).
In conjunction with the execution of the Voting Agreement, Portage CyberTech announced it has entered into a new stand-alone credit facility with the Canadian Imperial Bank of Commerce (“CIBC”), for up to $15 million, of which $10 million will be drawn immediately and the additional $5 million is contingent on achieving future financial targets.
“Successfully meeting the criteria necessary to deconsolidate Portage CyberTech from Converge is an important step for each company,” stated Shaun Maine, Group CEO of Converge. “This pivot will allow Converge to remain a strong partner and advocate for Portage CyberTech’s industry leading products and positions Portage CyberTech on its own accelerated growth path, operating completely independent of Converge.”
Converge Group CEO, Shaun Maine will maintain the position as Chairman of the Portage Board, which consists of three members. Converge currently retains ownership of approximately 51% of the outstanding common shares of Portage CyberTech in addition to the $25 million long-term loan entered into with Portage CyberTech.
About Portage CyberTech, A Converge Company
Portage CyberTech powers trusted digital transactions between individuals, businesses, and government organizations. Driven by some of the most ambitious digital projects and our desire to raise the visibility of our clients at home and abroad, our committed team of experts in all things digital – identity, access management, trusted services, and communications, have created the solutions designed to reach your customers. For more information, visit portagecybertech.com.
About Converge
Converge Technology Solutions Corp. is a services-led, software-enabled, IT & Cloud Solutions provider focused on delivering industry-leading solutions. Converge’s global approach delivers advanced analytics, artificial intelligence (AI), application modernization, cloud platforms, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries. The Company supports these solutions with advisory, implementation, and managed services expertise across all major IT vendors in the marketplace. This multi-faceted approach enables Converge to address the unique business and technology requirements for all clients in the public and private sectors. For more information, visit convergetp.com.
Forward-Looking Information
This press release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation regarding Converge, Portage Cybertech and their businesses. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected” “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”. “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Although the Company bases these forward-looking statements on assumptions that it believes are reasonable when made, the Company cautions investors that forward-looking statements are not guarantees of future performance and that its or Portage Cybertech’s actual results of operations, financial condition and position in the industry in which they each operate may differ materially from those made in or suggested by the forward-looking statements contained in this press release. In addition, even if the Company or Portage Cybertech’s results of operations, financial condition and position in the industry in which they each operate are consistent with the forward-looking statements contained in this press release, those results of developments may not be indicative of results or developments in subsequent periods.
There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this press release represents the Company’s expectations as of the date specified herein, and are subject to change after such date. However, the Company disclaims any intention or obligation or undertaking to update or revise any forward-looking information or to publicly announce the results of any revisions to any of those statements, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.
For further information contact: Converge Technology Solutions Corp., Email: [email protected], Phone: 416-360-1495
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Artificial Intelligence
Trianz Welcomes Priyanshu Singh as Vice President & Chief of Staff to the CEO
![trianz-welcomes-priyanshu-singh-as-vice-president-&-chief-of-staff-to-the-ceo](https://roboticulized.com/wp-content/uploads/2024/07/151015-trianz-welcomes-priyanshu-singh-as-vice-president-chief-of-staff-to-the-ceo.jpg)
SANTA CLARA, Calif., July 3, 2024 /PRNewswire/ — Trianz, a global digital transformation technology solutions and services firm, is thrilled to announce the appointment of Priyanshu Singh as its new VP & Chief of Staff. This strategic hire comes at a pivotal moment as Trianz continues to experience remarkable growth, driven by its shift to an ‘IP-led digital transformation’ model with hyper-automated platforms like Concierto – the hybrid cloud migrations and operations platform, and Extrica – the data to AI platform, accelerating customer success.
As Chief of Staff, Priyanshu Singh will play a crucial role in leading Trianz’ IP-led strategy development, operational excellence, and key execution teams, supporting the CEO’s office. He will design and implement organization-wide processes and capabilities and create and oversee opearational monitoring models and enterprise analytics. His expertise in business and competitive strategy, customer experience, digital transformation, and operations across multiple industries will be a tremendous asset as Trainz prepares to scale in this new model.
A graduate of the prestigious National Defense Academy, Priyanshu began his career in the Indian Army. After completing his MBA from IIM Calcutta, Priyanshu joined McKinsey & Company, working on strategy and business model design for clients across industries. His distinguished career includes key leadership roles at Uber, Lithium Urban Technologies, The Adecco Group, and Honeywell. Known for his excellence in reimagining offerings, exceeding support targets, and spearheading innovative solutions, Priyanshu has consistently delivered exceptional results. In 2016, he was recognized as one of India’s ‘Top 40 Under 40′ business leaders by The Economic Times and Spencer Stuart.
“We are excited to welcome Priyanshu Singh to our leadership team. With his military background, he brings a unique blend of discipline and strategic insight to Trianz,” said Sri Manchala, CEO of Trianz. “His deep expertise and forward-thinking approach will be invaluable in shaping our vision as we continue to leverage the power of our in-house innovations, AI, and cutting-edge tools. With Priyanshu on board, I am confident we will accelerate our transformations and achieve operational excellence.”
“I am honored to join Trianz as the new Chief of Staff,” said Priyanshu. “In this role, I will focus on bridging the gap between strategy and execution, ensuring our teams are aligned to achieve our committed objectives. I am passionate about problem-solving and look forward to collaborating with leaders across the organization to foster a culture of agility, adaptability, and continuous improvement. I am thrilled to be part of this dynamic team and confident we can achieve great things together.”
Priyanshu’s appointment underscores Trianz’ commitment to strengthening its leadership team and ensuring the company is well-prepared to seize future opportunities.
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our “IP Led Transformations” approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto , Extrica , and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media Team [email protected]+1-408-387-5800
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