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Global Smart Buildings Market (2021 to 2026) – by Technology, Infrastructure, Solutions and Deployment Models

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Dublin, July 13, 2021 (GLOBE NEWSWIRE) — The “Global Smart Buildings Market by Technology (AI, IoT, Indoor Wireless), Infrastructure, Solutions (Asset Tracking, Data Analytics, IWMS), and Deployment Models 2021-2026” report has been added to ResearchAndMarkets.com’s offering.

This report evaluates the smart buildings market including technologies, players, and solutions. The report analyzes smart buildings challenges and opportunities, assesses market potential, and provides accompanying smart buildings market sizing, globally as well as regionally, and by market segment for 2021-2026. The report includes an analysis of technologies supporting smart building automation, IWMS, and smart workplace applications and services. Smart building technology integration areas addressed within the report include 5G, AI, data analytics, and edge computing.

Select Report Findings

  • Smart building automation software and systems will reach $20.5B in North America by 2027
  • AI-enabled IoT (AIoT) systems will drive IWMS efficiencies and automation to an entirely new level by 2026
  • Smart facility water management systems will represent an $850M market opportunity in Europe by 2027
  • The post-COVID19 world will challenge building operations management in terms of public health compliance
  • Life cycle cost management for facilities is becoming a key factor in building selection for corporate giants such as Amazon
  • Leading solution providers such as IBM are changing the smart building landscape through a multi-dimensional approach to investment ROI
  • The key to success in the smart building market is to intelligently integrate data, systems, processes, and assets for enterprise and industrial operations

Collectively speaking, residential dwellings, offices, educational campuses, indoor recreation, and public service facilities are where people in the developed world spend up to 90% of their time. As urbanization leads to increasingly smarter cities, buildings are an integral part of a city’s ecosystem and are increasingly shaping both the standard of living and quality of life of inhabitants. Intelligent buildings lead to improved economics for both owners and users as well as improved satisfaction, safety, and wellbeing of occupants.

The smart buildings market consists of warehouses, factories, office buildings, and other enterprises, industrial, and government structures. Intelligent structures leverage a variety of interdependent technologies such as Artificial Intelligence (AI), broadband wireless (including WiMAX, LTE, 5G, and indoor wireless such as improvements coming with WiFi version 6), cloud computing (including edge computing), and Internet of Things (IoT) networks and systems to improve operational efficiency and enable a safer and more productive environment.

The smart buildings market is related to the smart workplace market, which includes some important enterprise and industrial automation systems and solutions such as integrated workplace management systems (IWMS), decision support systems utilizing advanced data analytics, and business asset management. The author sees IWMS solutions as crucial to the smart buildings market, as enterprise organizations are able to optimize asset utilization, energy consumption, technology deployment, building, and infrastructure efficiency, and overall workplace productivity to gain substantial savings in CAPEX and OPEX. The analyst sees the confluence of AI and IoT (AIoT) having a particularly large positive impact on the IWMS solutions market.

Leading companies within the commercial real estate sector are realizing tangible benefits by leveraging smart buildings market solutions as owners are able to charge higher fees for technology-enabled intelligent buildings. Accordingly, over 78% of new construction will involve at least one facet of IoT and/or related smart buildings market-related technologies over the course of the next five years. However, it is important to note that roughly 83% of legacy buildings in developed economies have issues that will require substantial retrofitting. The author sees this statistic improving over time, but remains a major head-wind in terms of capital investment for the smart buildings market.

What makes a Building “Smart”? Intelligence is Distributed and Autonomous

The term smart or intelligent building refers to an enterprise structure that is supported by software and systems to ensure more efficient and effective operations. Additional goals are to enhance the health and well-being and protect enterprise assets. Intelligent buildings are also closely associated with the concept of the smart workplace, which extends beyond a centralized work zone to include distributed and remote employees and corporate assets. Smart buildings are also integrated beyond IWMS to include data analytics and AI-based decision support systems that allow enterprise systems such as ERP, SCM, and other logistics areas to more fully respond to both resource needs and operational changes within commercial building infrastructure.

An important factor driving investment in smart buildings remains the fact that commercial real estate owners are able to charge higher lease fees for intelligent buildings for a variety of reasons including lower operational costs as well as support for improved safety, comfort, security, and productivity for workers. This is a major factor in certain urban environments such as Seattle, Washington in which rapid growth is occurring due to high-tech company growth from the likes of Amazon, which desires the most efficient facilities possible. Smart workplace benefits facilitated by intelligent buildings include work process improvement, workflow improvement, internal and external supply chain management optimization.

Smarter Building Data Analytics will Emerge through AI and IoT Convergence

Many of the solutions that make buildings smarter involve IoT capabilities. However, data and information systems to enable better decision-making are also critically important. AI may be implemented in conjunction with big data tools to enable enhanced data analytics. Analytics solutions identify patterns in unstructured data and supplementing them with AI can provide the additional benefit of learning from experience.

Since enterprise verticals in many different Industries rely on buildings for operation, many market segments can benefit. For example, AI algorithms in an office building can learn from the patterns of workers to determine the optimal time to adjust lighting and HVAC. In another example, AI support at healthcare facilities can help with critical care, ensuring that resources are available where they are needed the most based on historical patterns of occupancy and resource allocation.

Integrated Workplace Management Systems crucial to Smart Building Operations

The most efficient and effective smart buildings are those that include an Integrated Workplace Management System (IWMS). An IWMS solution is leveraged to both support a more integrated building control system as well as optimizing the workplace. This includes orchestrating workflow in processes relative to building resources and the environment in terms of things like optimal lighting, heating, and ventilation for workers.

IWMS solutions rely heavily upon IoT technology and data processing for optimal operation. The integration of AI can make these systems more efficient. For example, AI can assist IWMS solutions in determining the optimal allocation of building resources based on environmental factors, workflow, and the availability and location of personnel and organizational assets. This is particularly useful in a corporate campus environment or university where there are multiple buildings that are often multi-purpose and shared among departments.

Emerging Developments in the Smart Buildings Market since the Last Report

The analyst anticipates that the economic environment of the next five years will be characterized as asset deflation and commodity inflation, which will place a high degree of emphasis on maximizing the value of depreciating assets while reducing the cost of inputs to production, service delivery, and reducing commodities as a whole. In other words, enterprise asset values will go down while operational input costs for materials and energy will go up.

It is estimated that urbanization will cause up to 51% of global resources to be consumed by residential and commercial buildings by 2027. Of this amount, over 68% of global energy (mostly electricity, but also natural gas and fuel oil) will be used by enterprise and industrial facilities along with over 32% of the overall global water consumed. This will put a substantial drain on increasingly more expensive and scarce resources as well as the bottom line of corporations.

Key Topics Covered:

1 Executive Summary

2 Introduction

3 Smart Building Challenges and Opportunities
3.1 Smart Building Challenges
3.1.1 Need to Retrofit Existing Buildings and Facilities
3.1.2 Barriers towards IoT integration with Smart Buildings
3.1.2.1 IoT Interoperability: Devices, Gateways, Platforms, and Apps
3.1.2.2 Cross-Building Feature/Functionality Applications Differences
3.2 Smart Building Opportunities
3.2.1 Building Automation Systems Optimize Operations
3.2.2 Leverage Building Operational Data
3.2.3 Leverage Artificial Intelligence
3.2.4 Edge-to-Cloud Services in Smart Buildings

4 Smart Building Organizations and Initiatives

5 Company Analysis
5.1 Abundant Power
5.2 Aeon Labs LLC
5.3 Affinegy, Inc
5.4 Affinity Automation, LLC
5.5 American Auto-Matrix
5.6 American Digitals
5.7 American Energy Management
5.8 AMMAMSIC Technology Corp.
5.9 Appin Associates
5.10 Assodomotica
5.11 Athena Engineering, Inc
5.12 Automated Control Inc.
5.13 Azbil
5.14 Be Home247
5.15 Belimo
5.16 Brandt Automation, Inc
5.17 Building IQ
5.18 Building Robotics
5.19 Cadillac Fairview
5.20 Central Coast Environmental Controls
5.21 Copper Tree Analytics
5.22 Crestron
5.23 CSR
5.24 Current Analytics, Inc.
5.25 Cylon
5.26 Delta Controls
5.27 Distech Controls
5.28 E.M.S. Technologies
5.29 Eagle Energy, Inc
5.30 EATON
5.31 Ecova
5.32 EFT Energy
5.33 Elemco Building Controls
5.34 Energent
5.35 Energy ETC, Inc.
5.36 EnergyCAP
5.37 EnerNOC
5.38 Enovity, Inc.
5.39 eSight Energy
5.40 Frazier Service Co.
5.41 Genesis Automation
5.42 GridPoint
5.43 Hawkeye Energy Solutions
5.44 HomeLink Technologies
5.45 Honda Smart Home
5.46 Horizon Controls
5.47 HTNG
5.48 Hubbell Building Automation
5.49 IBI group
5.50 Ingersoll Rand
5.51 Inncom
5.52 Intellastar
5.53 Inter Logix
5.54 Intermatic
5.55 J2 Innovations
5.56 KMC Controls
5.57 Lon Mark International
5.58 LowV Systems, Inc.
5.59 Lynx Spring
5.60 Near Future, LLC
5.61 Network and Automation Systems
5.62 NEXIA
5.63 NexTek Power Systems
5.64 OME
5.65 Phoenix Energy Technologies
5.66 Priva
5.67 Progressive Engineering & Design
5.68 Ramco Electrical Contracting Corp.
5.69 RBH Access Technologies, Inc.
5.70 Reliable Controls
5.71 Sawyers Control Systems, Inc.
5.72 Shenitech
5.73 Smardt
5.74 Somfy
5.75 Sullivan & McLaughlin Companies, Inc.
5.76 Surveillance Grid Company
5.77 Switch Automation
5.78 Synergetic Systems
5.79 Syska Hennessy
5.80 TA Canada (Convergint)
5.81 Taco Comfort
5.82 TE connectivity
5.83 TerraBridge Innovations in Technology, Inc.
5.84 Thermo-Trol Systems, Inc.
5.85 Trane
5.86 Trend Controls
5.87 Tridium
5.88 Unilectric
5.89 United Technologies
5.90 Vantage
5.91 Viconics
5.92 Vykon
5.93 Wind River
5.94 XanTech
5.95 Honeywell International Inc.
5.96 Siemens AG
5.97 Cisco Systems Inc.
5.98 IBM Corporation
5.99 General Electric
5.100 Schneider Electric
5.101 ABB Group
5.102 Johnson Controls
5.103 Hitachi
5.104 Accenture PLC
5.105 Ingersoll-Rand Inc.
5.106 Legrand
5.107 Verdigris Technologies Inc.
5.108 Analytikia

6 Smart Building Market Analysis and Forecasts 2021-2026
6.1 Global Smart Buildings Market 2021-2026
6.2 Smart Buildings by Market Segment 2021-2026
6.3 Smart Buildings Market by Hardware and Infrastructure Type 2021-2026
6.4 Smart Buildings Market by Automation Software and System Type 2021-2026
6.5 Smart Buildings Market by Service Type 2021-2026
6.6 Smart Buildings Market by Building Type 2021-2026
6.7 Smart Buildings Market by New vs. Retrofit Building 2021-2026
6.8 Smart Buildings Market by Business Model 2021-2026
6.9 Smart Buildings Market by Connectivity Protocol Type 2021-2026
6.10 AI-Powered Smart Buildings Market 2021-2026
6.11 Edge Computing Enabled Smart Buildings Market 2021-2026
6.12 3D Printing in Smart Buildings Market 2021-2026
6.13 5G in Smart Buildings 2021-2026
6.14 Smart Buildings Regional Market 2021-2026

7 Conclusions and Recommendations

For more information about this report visit https://www.researchandmarkets.com/r/pe05ct


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Free Your Hands, QIDI Vida Smart AR Glasses Lead the Way in New Sports Experience.

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NEW YORK, April 19, 2024 /PRNewswire/ — Outdoor smart AR glasses, QIDI Vida, will officially launch on 23rd April on the Kickstarter platform.  QIDI Vida integrates the many functions of smart watches, sports headphones, cycling computers, heart rate monitors, and walkie-talkies using AR+AI technology, allowing users to bid farewell to cumbersome device management and enjoy outdoor sports anytime, anywhere with just one pair of glasses.

 
Function:
QIDI Vida uses high-tech HUD (Head-Up Display) which is similar to the technology used for aircrafts and premium cars and introduces it to the sports industry. Users can activate the HUD function at any time using voice control, enabling them to focus on the route ahead whilst simultaneously having access to information such as navigation, speed, heart rate, power and cadence, among other metrics. Another great function of the QIDI Vida is that users can also enjoy audiovisual entertainment through the optically perceived 100-inch AR  HUD screen, when having some down time. 
As cyclists and hikers often travel in groups, QIDI Vida supports eSIM and team functionality, allowing real-time voice communication without releasing handlebars, and users can monitor their groups’ real-time locations. The glasses also have comprehensive sensing and monitoring capabilities including temperature, humidity, UV, air pressure, geomagnetism and acceleration. In addition to obtaining environmental and health information, it also features health warnings such as altitude sickness symptoms and high heart rate, as well as fall and collision detection functions. And, in the event of danger, it can send distress signals to teammates.
Perks:
QIDI Vida has a global voice recognition and interaction feature that allows you to control all functions within the device by voice. To better provide users with an immersive sports experience, QIDI Vida’s intelligent system will have the capability to instantly gather personalised sports data, enabling it to deliver timely voice alerts and broadcasts, including the duration of exercise, distance, the environment and the weather – all tailored to the user’s preferences.
QIDI Vida enables voice-controlled photos and video recordings, allowing users to capture moments whilst cycling or hiking without the need to stop. QIDI Vida supports connections with common cycling smart hardware such as Garmin, Wahoo, Apple, and Samsung, supports GPX route files, and is compatible with professional sports apps such as Strava, Keep, Zwift, Apple Health, and All Trails.
QIDI Vida stands out for its lightweight and comfortable design with a dual lens for a full-colour data display, unlike competing AR glasses that typically have a single lens and limited colour. This innovation significantly enhances and augments the user’s sports and reality experience.
QIDI Vida will launch on the Kickstarter platform: https://www.kickstarter.com/projects/109560964/qidi-vida-smart-ar-glasses-for-sports
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Risk Analytics Market worth $180.9 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, April 19, 2024 /PRNewswire/ — The growing use of real-time monitoring and advanced analytics, integration with cutting-edge technologies like blockchain and IoT, and an emphasis on cybersecurity, cross-industry applications, and regulatory compliance are the key factors that will shape the risk analytics market in the future. The market’s development will also be influenced by collaborative risk management, improved user experience, and an increasing focus on ESG factors and risk culture.

The Risk Analytics Market is estimated to grow from USD 59.7 billion in 2024 to USD 180.9 billion in 2029, at a CAGR of 24.8% during the forecast period, according to a new report by MarketsandMarkets™.  Several trends fuel the global spread of Risk Analytics. Increasingly Increasing Data Complexity, Rising Cybersecurity Threats and Rising Adoption of Cloud-Based Solutions A growing talent pool of data scientists and engineers is building the necessary tools and infrastructure. Governments are recognizing the potential of risk analytics for economic growth and are investing in research and development. These trends make DI more accessible and valuable, leading to its global adoption.
Browse in-depth TOC on “Risk Analytics Market”260 – Tables 60 – Figures350 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=210662258
Scope of the Report
Report Metrics
Details
Market size available for years
2019–2023
Base year considered
2023
Forecast period
2024–2029
Forecast units
USD Billion
Segments Covered
Offering,Risk Type, Risk stages, Vertical, and Region.
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered
IBM (US), SAS Institute (US), Oracle (US), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US)
 
By offering the services segment to account for higher CAGR during the forecast period
In the Risk Analytics Market, the highest CAGR of services is fueled by Increasing Complexity of Risks, AI and machine learning advancements, big data analytics integration, business process optimization, cloud-based solutions adoption, data-driven culture, and diverse industry adoption. These trends reflect a global shift towards leveraging data for competitive advantage, driving a continuous need for sophisticated risk analytics services across sectors. As businesses prioritize agility, the growth of services in the Risk Analytics Market is driven by the need for effective risk management strategies in an increasingly complex and uncertain business environment.
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By Type, GRC software is expected to hold the largest market size for the year 2024
GRC software typically offers comprehensive solutions that cover a wide range of risk management needs, including compliance management, policy management, audit management, and risk assessment. They also provide organizations with enhanced visibility into their risk landscape. Through features such as risk assessment, risk monitoring, and reporting, organizations can identify and prioritize risks more effectively, enabling proactive risk management strategies.  GRC software streamlines risk management processes through automation, reducing manual effort and increasing efficiency. Tasks such as risk assessments, control testing, and incident management can be automated, freeing up resources to focus on strategic risk mitigation efforts. the combination of comprehensive functionality, regulatory compliance support, efficiency gains, scalability, integration capabilities, and culture enhancement makes GRC software a preferred choice for many organizations seeking to manage risk effectively.
By Vertical, Healthcare & Life Sciences is projected to grow at the highest CAGR during the forecast period
The Healthcare and Lifesciences is experiencing a surge in the adoption of risk analytics due to a confluence of factors. Healthcare providers and life sciences companies wants to ensure the safety and well-being of patients. Risk analytics helps in identifying potential risks to patient safety, such as medication errors, adverse events, and medical device failures. The healthcare and life sciences industries are heavily regulated, with strict guidelines for patient care, data privacy, drug development, and clinical trials. Risk analytics helps organizations ensure compliance with these regulations by identifying and mitigating risks of non-compliance.  Healthcare organizations and life sciences companies also face financial risks associated with fraud, billing errors, revenue cycle management, and reimbursement challenges. Risk analytics helps in detecting anomalies and optimizing financial processes to mitigate these risks.
Asia Pacific is expected to grow at the highest CAGR during the forecast period
The Asia-Pacific (APAC) region is experiencing rapid growth in the Risk Analytics Market, boasting the highest Compound Annual Growth Rate (CAGR). This surge is primarily attributed to rising demand for data-driven decision-making solutions, expanding digital transformation initiatives across industries.. Moreover, the region’s favorable regulatory environment, growing investments in big data analytics, and the integration of advanced technologies like the Internet of Things (IoT) further propel APAC’s dominance in Risk Analytics Market growth.
Top Key Companies in Risk Analytics Market:
The major risk analytics software and service providers include IBM (US), SAS Institute (US), Oracle (US), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the Risk Analytics Market.
Recent Developments:
In March 2024, Orcale announced Oracle Risk Management Cloud in Release 24B. It offers comprehensive solution designed to help organizations identify, assess, and mitigate risks across their business operations. It offers advanced analytics, automation, and collaboration tools to streamline risk management.In March 2024, FIS Global announces card fraud detection capabilities leveraging artificial intelligence (AI) with aim to bolster FIS’s ability to identify and prevent fraudulent transactions, providing greater security for cardholders and financial institutions alike.In March 2024, Aon acquired an AI-powered platform to assist fleet and mobility clients in making data-driven decisions, enhancing operational efficiency and risk management. The platform utilizes artificial intelligence to analyze data and provide insights, enabling clients to optimize their fleet operations and improve decision-making processes.In March 2024, Crisp joined Resolver, with the aim to enhance Resolver’s risk intelligence capabilities by integrating Crisp’s expertise and technology into its platform, offering clients improved risk assessment and mitigation tools.In February 2024, SAS partnered with Carahsoft to bring analytics, AI, and data management solutions to the public sector. The aim is to leverage SAS’s expertise in advanced analytics and Carahsoft’s extensive government market reach to offer tailored solutions that enable public sector organizations to harness the power of data for informed decision-making and improved outcomes.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=210662258
Risk Analytics Market Advantages:
By offering insights into potential risks, opportunities, and trends, risk analytics helps organisations make data-driven decisions that improve strategic planning and resource allocation.In order to improve risk management procedures and lessen exposure to possible threats, risk analytics solutions assist businesses in identifying, evaluating, and mitigating risks across a range of business activities, including finance, operations, and compliance.Through real-time monitoring and anomaly detection made possible by risk analytics, organisations may proactively address shifting market situations, legal requirements, and cybersecurity threats.Risk analytics solutions assist organisations lower operating costs, increase productivity, and streamline compliance activities, which results in cost savings and resource optimisation. They do this by streamlining risk management procedures and automating routine work.Accurate risk assessments, audit trails, and reporting capabilities are just a few of the ways that risk analytics solutions help organisations comply with regulations and stay out of trouble.Organisations can enhance their resilience and competitiveness by anticipating and mitigating potential hazards before they materialise through the use of predictive modelling and advanced analytics approaches in risk analytics.Report Objectives
To define, describe, and predict the Risk Analytics Market by offering, risk type, risk stages, vertical, and regionTo provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the market growthTo analyze the opportunities in the market and provide details of the competitive landscape for stakeholders and market leadersTo forecast the market size of segments with respect to five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaTo profile the key players and comprehensively analyze their market rankings and core competenciesTo analyze the competitive developments, such as partnerships, product launches, and mergers & acquisitions, in the Risk Analytics MarketBrowse Adjacent Markets: Analytics Market Research Reports & Consulting
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Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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Robotic Palletizer Market worth $1.9 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, April 19, 2024 /PRNewswire/ — The robotic palletizer market is projected to grow from USD 1.4 billion in 2024 and is expected to reach USD 1.9 billion by 2029, growing at a CAGR of 5.9% from 2024 to 2029 according to a new report by MarketsandMarkets™. Rising awareness towards workplace safety and reducing the risk of work-related injuries to drive the market. Robotic palletizers significantly enhance workplace safety and reduce the risk of work-related injuries and associated costs. By automating repetitive tasks like palletizing, businesses can redeploy their human workforce to higher-value activities that require human skills like problem-solving, critical thinking, and customer interaction. This allows them to optimize their workforce and leverage human capabilities more effectively.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=251064253
Browse in-depth TOC on “Robotic Palletizer Market” 100 – Tables60 – Figures200 – Pages
Robotic Palletizer Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 1.4 billion
Estimated Value by 2029
$ 1.9 billion
Growth Rate
Poised to grow at a CAGR of 5.9%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Component, Robot Type, Application, End-use Industry and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
High initial investment cost
Key Market Opportunities
Increasing application in small and medium-sized enterprises
Key Market Drivers
Growing labor shortage and need for workforce optimization
 
Collaborative robots in the robot type segment are expected to witness higher growth rate during the forecast period.
Collaborative robots are expected to witness a higher CAGR during the forecast period. Unlike traditional industrial robots that often require physical barriers or cages to protect human workers, cobots are equipped with advanced safety features, such as force and torque sensors, collision detection, and speed monitoring. These features enable cobots to operate safely in proximity to humans without posing significant risks of injury.
The Pharmaceutical segment in the robotic palletizer market is expected to witness highest growth rate during the forecast period.
Pharmaceutical products are subject to strict regulations regarding storage, handling, and quality control. Robotic palletizers play a crucial role in providing greater precision and consistency in palletizing tasks and minimizing the risk of contamination within pharmaceutical manufacturing facilities. It also reduces human intervention in the handling and stacking of products and helps mitigate the potential for cross-contamination and ensures adherence to strict hygiene standards.
End-of-Arm- Tooling (EOAT) component is expected to witness the highest CAGR in the robotic palletizer market during the forecast period.
End-of-arm tooling (EOAT) is a crucial element of a robotic arm system, especially in applications like robotic palletizing, where the robot needs to interact with various objects or products. EOAT essentially acts as the hand of the robotic arm, designed to securely grasp, lift, and place boxes or cases onto pallets. Overall, EOAT plays a vital role in the effectiveness of robotic palletizers as it ensures secure handling of products, efficient palletizing patterns, and smooth operation of the entire system.
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North America is expected to hold the largest share of the robotic palletizer industry during the forecast period.
North America is home to major automobile and retail companies, which has accelerated the demand for robotic palletizers in this region. Additionally, the rise in manufacturing activity, fueled by plans for reshoring and technological improvements, has further driven the need for robotic palletizers. In North America, certain government funds are available to increase workplace safety. In 2023, the Occupational Safety and Health Administration announced a grant of approximately USD 12.7 million to 100 non-profit organizations across the nation to provide education and training for workers and employers about recognizing workplace hazards, injury prevention, and understanding workers’ rights and employers’ responsibilities under federal law. Businesses that use robotic palletizers may be eligible for funding as they lower the risk of worker injuries from manual lifting.
Key Players
Leading players in the robotic palletizer companies include FANUC CORPORATION (Japan), KION GROUP AG (Germany), KUKA AG (Germany), ABB (Switzerland), and Krones AG (Germany). Schneider Packaging Equipment Company, Inc. (US), Honeywell International Inc. (US), Kaufman Engineered Systems (US), Concetti S.p.A. (Italy), Sidel (France), Brenton, LLC. (US), A-B-C Packaging Machine Corporation (US), Antenna Group (Italy), BEUMER GROUP (Germany), Brillopak (UK), BW Integrated Systems (US), Columbia Machine, Inc. (US), Euroimpianti S.p.A. (Italy),  Fuji Yusoki Kogyo Co., Ltd. (Japan), HAVER & BOECKER OHG (Germany), KHS Group (Germany), MMCI  (US), Okura Yusoki Co., Ltd. (Japan), Rothe Packtech Pvt. Ltd. (India),  and S&R Robot Systems, LLC. (US) are few other key companies operating in the robotic palletizer market.
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