Artificial Intelligence
Global Cloud Gaming Market By Offering, By Device Type, By Solution, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027
New York, Jan. 25, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Cloud Gaming Market By Offering, By Device Type, By Solution, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027” – https://www.reportlinker.com/p06222239/?utm_source=GNW
It is designed in a way that allows the users to operate and play a variety of games on remote servers that streams the whole game on the device with which the cloud is connected to. Cloud gaming technology, unlike conventional gaming procedures that runs on the local disk spaces of the gaming device, works as an integration into the cloud technology with lesser requirement of user’s device storage. In other words, Cloud gaming is also called gaming-as-a-service.
For using cloud gaming technology, the user needs a cloud gaming platform which is provided by the developer organization of the game with a subscription pack. These platforms run in a similar fashion like remote desktops and video-on-demand services.
COVID-19 Impact
The COVID-19 pandemic, along with being a hazardous and contagious virus, arrived as an opportunity for the cloud gaming market. Due to the lockdown and strict stay-at-home orders by the government of all the countries, the cloud gaming market observed a rise in the number of the gamers. People across the world were restricted to step out of their homes without any necessary reasons as well as the infrastructure of all the primary, secondary, and tertiary occupations were shattered. Along with the rising demand for cloud games, the COVID-19 pandemic also impacted the cloud gaming market negatively. The cloud games that rely on external DVDs to run, faced a significant downfall in the cloud gaming market.
Market Growth Factors
Minimized restrictions for high-end specifications and freedom for cross-platform gaming
A lot of games across the gaming industry demand high-end PCs with ultra-advanced specifications and external sources like graphic cards and additional RAM, which deprives the gamers, without access to these resources, from the gaming experiences. Cloud gaming allows the users to play a wide range of games on a variety of compatible devices without any restrictions of high-end specifications as well as other external resources. Due to the advent of cloud gaming services in the gaming industry, gamers are now enabled to play games with intensive graphics smoothly on their low-end devices with lesser specifications. The operation of cloud games runs on the capabilities of network connections. The high-scale infrastructure developed intending to smoothen the cloud gaming experience, allows the user to run graphic-intense games on their low-spec devices like mobile phones, laptops, tablets, gaming consoles, and other devices.
Increasing trend of gaming communities
With the increasing interest and attention of people toward rising trend of gaming communities is one of the reason that is encouraging cloud gaming. While playing on cloud gaming platforms, the developers allow the gamers to form a new gaming community or join an existing one on the developer provided cloud gaming platform. The gaming community allow the gamers to interact with various gamers across the world respective to the language and preferences selected by the user. Gaming communities also enable the user to join clans and crews so they can play with few particular gamers across the platform.
Market restraining Factors
Addiction to cloud games due to increased access
The diffusion of cloud gaming trend is constantly rising due to the increased access to these games, that too in a very low prices. More people are now capable of reaching cloud games and platforms. With the rising number of cloud game players across the world, the problem of addiction to these games occurs. People have a complete remote access of these games that may increase the vulnerability towards the addiction of these games which can put negative impacts on their mental health. In addition, addiction to these games would disrupt the productivity along with mental well-being.
Offering Outlook
Based on Offering, the market is segmented into Infrastructure and Gaming Platform Services. The advent of the cloud gaming platforms offers a range of lucrative opportunities to the key market players to improvise and invest in the prevailing games and expand their library by providing more content to their users.
Device Outlook
Based on Device Type, the market is segmented into Smartphones, PCs & Laptops, Gaming Consoles, Tablets, Smart TVs and HMDs. HMD segment is anticipated to observe the fastest CAGR in the cloud gaming market. There is a large amount of investments dedicated to the development and enhancements in HMDs. Head mounted devices are designed to be worn on the head and sync with eyes while connecting it with a gaming controller to play cloud games.
Solution Outlook
Based on Solution, the market is segmented into Video Streaming and File Streaming. The file streaming aspect of the cloud gaming market allows the user to download a small portion of the overall game content into their gaming systems in form of bits while the rest of the content keeps downloading in the background while the game is being played.
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2020, the North America emerged as the leading region of the market and would showcase a similar trend even during the forecasting period. The region is home to many developed countries and a hub for rapidly enhancing efficient & advanced technologies. The rapid developments and advancements in the technologies across the region are a key reason for the increased adoption of cloud gaming methods. Thus, these factors would accelerate the growth of the market during the forecasting period.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation is the major forerunner in the Cloud Gaming Market. Companies such as Amazon.com, Inc., Intel Corporation, Tencent Holdings Ltd. are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Activision Blizzard, Inc., Advanced Micro Devices, Inc., Microsoft Corporation, Amazon.com, Inc., Intel Corporation, Meta Platforms, Inc., NVIDIA Corporation, Sony Corporation, and Tencent Holdings Ltd.
Recent strategies deployed in Cloud Gaming Market
Partnerships, Collaborations and Agreements:
Oct-2021: Facebook (Meta Platforms, Inc.) entered into a partnership with Jam City, My.Games and Gameloft, leading mobile game publishers. Following the partnership, the entities aimed to introduce three prominent games like Family Guy Another Freakin’ Mobile Game, Disney Emoji Blitz, and Harry Potter: Hogwarts Mystery to Facebook Gaming as cloud games. My.Games would make its cloud gaming debut with Rush Royale and three more games on Facebook. Lastly, Gameloft would introduce War Planet Online, the eighth part since the launch.
Oct-2021: Advanced Micro Devices along with Radian, formed a partnership with Blacknut, a Cloud Gaming Service. Following the partnership, Blacknut would introduce a cloud gaming solution that is based on Radian Arc’s turnkey Infrastructure as a Service (IaaS) GPU-Edge platform which is powered by AMD Radeon PRO V520 GPUs and AMD EPYC CPUs, at Mobile World Congress Los Angeles 2021. Moreover, Blacknut and Radian Arch have designed a turnkey solution for cloud gaming utilizing AMD Radeon PRO V520 GPUs and AMD EPYC CPUs to harness a high-performance gaming architecture, delivered across ISPs including 5G networks.
Sep-2021: NVIDIA came into partnership with Electronic Arts, an American video game company. The partnership aimed to launch the best titles under NVIDIA GeForce NOW cloud gaming service. The first five games are Battlefield 1 Revolution, Mirror Edge Catalyst, unravel Two, Dragon Age Inquisition, and Apex Legends.
Jul-2021: Facebook (Meta Platforms, Inc.) formed a partnership with Ubisoft Entertainment, a leading mobile game publisher. The partnership aimed to strengthen its cloud-gaming platform with titles like Assassin Creed and would allow the user to access titles which include Hungry Shark Evolution, Hungry Dragon, and the Assassin’s Creed franchise.
Jan-2021: NVIDIA formed a partnership with Pentanet, a high-speed internet service provider. Following this partnership, Australian gamers would get access to GeForce NOW – NVIDIA’s popular cloud-based game streaming service, powered by Pentanet.
Dec-2020: Tencent came into partnership with TCL, Hisense, Changhong, and Suning Biu. Following the partnership, Tencent announced introduced the TV version of its START cloud gaming service. With this launch, the company has expanded its footprint into the Chinese market.
Nov-2020: Intel partnered with Tencent, a Chinese multinational technology conglomerate holding company. Following the partnership, the two companies would accelerate the volume-based server deployment of the GameMatrix cloud gaming platform by Tencent, providing above 100 popular games. Tencent would offer a high-density, low-power, low-latency, Android gaming solution in a cost-effective manner with Intel Xeon scalable processor, H3CXG310 PCIe add-in card, and a comprehensive software stack.
Apr-2020: Advanced Micro Devices signed a multi-year partnership with Oxide Games, a Maryland-based game studio and the developer behind Ashes of the Singularity. Following the partnership, the two companies would develop a powerful set of tools and technologies for cloud rendering developed from the ground up to adopt the real-time demands of cloud-based gaming by integrating AMD’s excellent gaming hardware and graphics expertise with proven development capabilities and innovative Nitrous game engine of Oxide.
Mar-2020: Tencent entered into a partnership with Huawei, a Chinese multinational technology corporation. Under this collaboration, these two Chinese companies would jointly develop GameMatrix, a co-innovation lab. The new platform would be based on the Huawei Kunpeng processor.
Acquisitions and Mergers:
Oct-2021: Sony Interactive Entertainment PlayStation studios, a division of Sony Group, took over Bluepoint Games, an American video game developer based in Austin and Texas. Through this acquisition, the company strengthened its vision to provide improved gaming experiences for the users.
Jul-2021: Sony acquired Nixxes Software, a PC port developer. Following the acquisition, Nixxes would join the PlayStation Studios Technology, Creative & services Group to offer best-in-class in-house technical and development for the studios.
Mar-2021: Microsoft took over ZeniMax Media, the parent company of Bethesda Softworks and its eight studios. Following this acquisition, Microsoft aimed to change the landscape of the gaming industry by bringing popular and best-selling franchises into the Xbox family. These franchises include The Elder Scrolls, Fallout, and many more.
Sep-2020: NVIDIA signed a definitive agreement with SoftBank Group, a Japanese multinational conglomerate holding company. Following the agreement, NVIDIA would acquire Arm Limited from SBG and the SoftBank Vision Fund. The acquisition would integrate NVIDIA’s AI computing platform with Arm’s massive ecosystem to develop a prominent computing company in the domain of artificial intelligence. This would eventually expedite the innovation while entering and expanding into large and high-growth markets.
Product Launches and Product Expansions:
Nov-2021: Microsoft introduced the availability to play games through Xbox Cloud Gaming on Xbox One or Xbox Services X/S consoles. This launch would need a Game Pass Ultimate subscription and would be accessed in 25 regions with Brazil adding onto the list soon. Additionally, cloud gaming on the Xbox consoles showcases many useful applications.
Oct-2021: NVIDIA launched GeForce RTX 3080- class gaming on GeForce NOW, an advanced cloud gaming platform. The platform memberships give gamers access to the best-ever generational leap in GeForce history, providing cloud gaming’s highest resolutions and fastest frame rates, along with the lowest latency.
Sep-2021: Amazon unveiled New World. It’s an online multiplayer game in which players take part in factions, fight monsters, fight one another and colonize a fictional island in the Atlantic Ocean. The game includes several free and exclusive items through Prime Gaming. Moreover, the game supports the values and boosts player and community interaction.
Jun-2021: Microsoft unveiled Netflix for games, new cloud-based gaming services. The cloud gaming services of the company would provide access to a wide range of games that are developed in-house and even sourced from third-party developers.
Nov-2020: Intel launched Intel Server GPU, its first discrete graphics processing unit for the data center. The unit is developed on the Xe-LP architecture and is suitable for high-density, low-latency Android cloud gaming, and media streaming.
Oct-2020: Facebook (Meta Platforms, Inc.) rolled out several cloud-streamed games in the app and browser, that could be played instantly without any downloads. Through this launch, the company would provide an unparalleled gaming experience on every screen.
Sep-2020: Amazon launched Luna, a new cloud gaming service. The initial access to this service would be available on PC, Mac, Fire TV, iPhone, and iPad with an Android version. Moreover, the company aimed to provide more than a hundred games with the Luna Plus channel. Additionally, the titles of games include Resident Evil 7, Control, Panzer Dragoon, A Plague Tale Innocence, The Surge 2, Yooka-Laylee, GRID, Abzu, and Brothers A Tale of Two Sons.
Sep-2020: Microsoft unveiled Project xCloud, a new game streaming service. This launch would provide the consumer with the opportunity to play high-quality games which would need a strong Xbox game console, with an internet connection of 10Mbps or higher.
Scope of the Study
Market Segments covered in the Report:
By Offering
• Infrastructure
• Gaming Platform Services
By Device Type
• Smartphones
• PCs & Laptops
• Gaming Consoles
• Tablets
• Smart TVs
• HMDs
By Solution
• Video Streaming
• File Streaming
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
• Activision Blizzard, Inc.
• Advanced Micro Devices, Inc.
• Microsoft Corporation
• Amazon.com, Inc.
• Intel Corporation
• Meta Platforms, Inc.
• NVIDIA Corporation
• Sony Corporation
• Tencent Holdings Ltd.
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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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