Artificial Intelligence
Global Video Streaming Software Market By Component, By deployment, By streaming type, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027
New York, Dec. 27, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Video Streaming Software Market By Component, By deployment, By streaming type, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027” – https://www.reportlinker.com/p06193327/?utm_source=GNW
Through this process, users do not need to download videos and can simply watch videos online. This streamed video content can range from movies, TV shows, and live-streamed content. Some of the major platforms that offer streaming videos to their subscribers are Hulu and Netflix.
The high penetration of smartphones and the growing population of internet users across the world are estimated to propel the growth of the video streaming software market during the forecast period. In addition, the technological advancements in the digital media sector are further projected to fuel the growth of the video streaming software market over the forecast period.
Moreover, the acceptance of video content for educational purposes has been increased due to a substantial increase in the consumption and simple access to video content because of the massive penetration of smartphones and the high availability of the internet.
The massive deployment of digital media across several industries has given rise to the increased viewer preference toward various streaming solutions and services, hence offering new growth avenues for the players operating in the video streaming software market.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has impacted various aspects of the business domain. The video streaming software market is positively impacted by the pandemic. There are several restrictions and regulations imposed on people as well as businesses including the travel ban, lockdown, and social distancing, which encouraged people to better engage in the virtual world through videos. The lockdown has increased the demand for more video content and boosted the popularity of VoD and OTT subscriptions, as people were forced to stay inside their own homes.
Along with that, several business organizations and companies have also adopted work from home culture, which compelled them to use video streaming as their communication model for business continuity and thus, augmented the demand for video streaming software in the market.
Market Growth Factors
Rising penetration of internet users and smartphones
The increasing population of smartphone users and high penetration of the internet are among the key aspects expanding the number of online users. This would further augment the demand for real-time video services that would open new growth avenues for the video streaming software market during the forecast period. The number of smartphone users will constantly increase in the future years, which would accelerate the growth of the video streaming software market during the forecast period. Also, the consumption of video content has surged across the world that would accelerate the market growth.
The increasing popularity of OTT platforms
The increasing popularity of OTT platforms like Netflix and Amazon Prime across the world is estimated to augment the growth of the video streaming software market over the forecast period. Additionally, the increasing demand for high-quality video content by the audience is encouraging these platforms to introduce better video content on their platform and hence, fueling the growth of the video streaming software market over the forecast period.
Market Restraining Factors
The huge cost of content creation and the growing concerns regarding content piracy
There is a surge in the demand for more exclusive video content, which is encouraging enterprises to invest more in various phases of the video streaming process to improve their video creation process. One of the key challenges faced by video content creators is the duplication of their video content around numerous regions and different industrial verticals. These kinds of problems add to the total cost of the content for the organizations. The piracy of video content is very high around the world that would hinder the demand for video streaming software around the world.
Component Outlook
The video streaming software market is fragmented into services and solutions. The solutions segment is projected to acquire the highest share in the market over the forecast period. By adopting video streaming solutions, companies become empowered to better manage, centralize, and securely provide videos. In addition, video streaming solutions assist in managing all the activities, from recording to ingestion to the final delivery, on end-user devices.
Deployment Type Outlook
The video streaming software market is segmented into On-premises and Cloud. The cloud deployment segment is estimated to display a promising growth rate over the forecast period. It is because cloud-based video streaming platforms offer numerous benefits like easy deployment, low operational expenses, scalability, and simple collaboration.
End User Outlook
The video streaming software market is fragmented into media & entertainment, BFSI, academia & education, healthcare, government, and other verticals. Among all, the academia and education segment is anticipated to exhibit the highest growth rate over the forecast period.
Regional Outlook
The video streaming software market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific is estimated to display the highest growth rate over the forecast period. It is due to the improving technological infrastructure of this region. As emerging nations are highly inclining toward the usage of video streaming platforms in order to enhance and simplify their business processes, the demand for these video solutions would fuel in this region.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Brightcove, Inc., Panopto, Inc., Kaltura, Inc., Vimeo.com, Inc. (IAC Group), Qumu Corporation, Haivision Systems Inc., Sonic Foundry, Inc., Plantronics, Inc. (Polycom, Inc.), and Vbrick Systems, Inc.
Recent Strategies Deployed in Video Streaming Software Market
Partnerships, Collaborations and Agreements:
Aug-2021: Brightcove formed a partnership with Bizzabo, an event software platform. This partnership aimed to offer customers scalable, secure, and reliable video streaming for virtual & hybrid events. In addition, the partnership would enable Bizzabo to combine Brightcove’s broadcast-grade streaming technology into its platform, offering customers an end-to-end solution that assists them to manage, design, execute and evaluate the success of their hybrid or virtual events.
Mar-2021: Qumu Corporation entered into a partnership with Socialive, the leading video creation platform for business. This partnership aimed to boost video content production and distribution for companies no matter their size. In addition, Socialive’s SaaS-based video production studio involves numerous layout options and strong production capabilities available to prevailing Qumu customers through Qumu Cloud.
Feb-2021: Panopto came into a partnership with TechSmith Corporation, the leading provider of screen capture and video editing tools. This partnership aimed to provide educators, students, and employees a robust solution for securing, creating, and distributing video-based intelligence in universities & enterprises.
Oct-2020: Vimeo came into a partnership with GoDaddy, an American publicly traded Internet domain registrar and web hosting company. This partnership aimed to bring the power of Vimeo to GoDaddy’s website builder and marketing tools.
Sep-2020: Brightcove formed a partnership with Cvent, the market-leading meetings, events, and hospitality technology provider. This partnership aimed to provide its video solutions as part of Cvent’s newly-launched Virtual Attendee Hub. Under this partnership, Cvent users could easily launch scalable, reliable, and broadcast-grade video experiences to their audiences.
Apr-2020: Kaltura formed a partnership with Degreed, the workforce upskilling platform. This partnership aimed to allow learning and talent teams to develop, curate, unify, and protect videos, and insert them effortlessly into both self-directed learning and structured training experiences via a branded, flexible portal in Degreed.
Product Launches and Product Expansion:
Oct-2021: Brightcove unveiled Brightcove CorpTV, a solution developed for companies to think and act like media brands. This product allows companies to develop channels just like Netflix or Hulu, which stream content to users and employees and other target audiences, everyone with their own, audience-specific, content.
Oct-2021: Haivision introduced Haivision Connect, an all-new cloud platform designed for churches. This live streaming solution opened the latest possibilities for churches to simply connect and engage with audiences from anywhere.
Jun-2021: Mediasite released Mediasite 8, which includes a powerful mix of new tools and features. This solution aimed to support the emerging hybrid world of work, learning, and events. In addition, the next generation of Mediasite is the advanced video experience needed to develop the most engaging, interactive, and customized communications regardless of time and distance.
Apr-2021: IBM expanded its IBM Watson Advertising Accelerator for OTT and video, developed to assist marketers to move beyond contextual relevance alone. The accelerator aimed to leverage artificial intelligence to significantly maximize OTT ad creative for enhanced campaign results at scale, not reliant on conventional advertising identifiers.
Mar-2021: IBM introduced a replace video feature for its video streaming and enterprise video platforms. This would enable companies to update outdated videos with the latest versions without worrying about the logistics around URL links or incidents where the video was embedded. Due to this, it would offer a fast method for content to be cycled and remain appropriate to target audiences.
Feb-2021: Brightcove released Brightcove Cloud Playout, a new feature. This feature improves Brightcove’s end-to-end video platform and makes it one among the few online video providers to provide this capability.
Jan-2021: Haivision launched its Haivision Play Pro app for usage on Android mobile devices, allowing remote broadcast video workflows. Haivision Play Pro is a free mobile app, which allows customers to safely play or stream live low latency video over SRT from anywhere.
Sep-2020: Qumu introduced a new functionality extension called Qumu Stream, Record, and Manage. This functionality for Zoom is accessible at no charge under all prevailing Zoom corporate licensing plans.
Aug-2020: Qumu launched Qumu Video Control Center (VCC) Version 10.5, the customer-hosted deployment of Qumu’s intelligent Enterprise Video platform. This launch involves a new Qumu Analytics Engine (QAE) that offers complete, real-time, and historical usage reporting of live and on-demand video content through a highly scalable, redundant, and ultra-fast search application.
Jun-2020: Vbrick introduced innovations and enhancements in webcast analytics with Rev Platform. Rev’s video intelligence advancements comprise a new industry-leading real-time analytics dashboard to offer visibility into webcast performance.
May-2020: Haivision launched a new version of the Haivision Media Platform. This latest version is aimed at safe, multi-site live video distribution for streaming enterprise video content that includes all-hands webinars and IPTV to employees from anywhere inside & outside the corporate firewall.
May-2020: Panopto released Panopto Express, the quickest and easiest way for employees & teachers. This product aimed to develop and share recordings of presentations & lectures.
Acquisitions and Mergers:
Aug-2021: Haivision Systems acquired CineMassive Displays, an industry leader in delivering visual collaboration solutions for mission-critical environments. This acquisition aimed to integrate the power of real-time secure video networking and data visualization to develop a distinct offering in the market, which fulfills the mission-critical challenges of complicated situations such as network, cybersecurity, and physical threats.
Apr-2021: Panopto took over Ensemble Video, makers of video management software for K-12, higher education, and enterprises. This acquisition aimed to allow hundreds of customers to utilize Panopto, which would expand the company’s capability to fulfill the demands of K-12 educators and strengthen its world-class engineering team.
Jul-2020: Haivision acquired Teltoo (US), a key technology innovator for peer-to-peer (P2P) and WebRTC enabled real-time video delivery. This acquisition aimed to expand Haivision’s expertise in cloud-connected live video from contribution & distribution, through to delivery. In addition, this deal would also allow Haivision to apply its machine learning and AI capabilities against real-time network analytics to maximize comprehensive edge-to-edge low latency video workflows.
Scope of the Study
Market Segments covered in the Report:
By Component
• Services
• Solutions
By Deployment
• On-premises
• Cloud
By Streaming
• Live Streaming
• Video-On-Demand Streaming
By End User
• Media & Entertainment
• BFSI
• Academia & Education
• Healthcare
• Government
• Other
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• IBM Corporation
• Brightcove, Inc.
• Panopto, Inc.
• Kaltura, Inc.
• Vimeo.com, Inc. (IAC Group)
• Qumu Corporation
• Haivision Systems Inc.
• Sonic Foundry, Inc.
• Plantronics, Inc. (Polycom, Inc.)
• Vbrick Systems, Inc.
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Artificial Intelligence
Free Your Hands, QIDI Vida Smart AR Glasses Lead the Way in New Sports Experience.
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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Artificial Intelligence
Risk Analytics Market worth $180.9 billion by 2029 – Exclusive Report by MarketsandMarkets™
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
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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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Artificial Intelligence
Robotic Palletizer Market worth $1.9 billion by 2029 – Exclusive Report by MarketsandMarkets™
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.
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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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