Artificial Intelligence
Global Law Enforcement Software Market Size, Share & Industry Trends Analysis Report By Component, By Solution Type, By Services Type, By Deployment Mode, By Regional Outlook and Forecast, 2022 – 2028
New York, June 22, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Law Enforcement Software Market Size, Share & Industry Trends Analysis Report By Component, By Solution Type, By Services Type, By Deployment Mode, By Regional Outlook and Forecast, 2022 – 2028” – https://www.reportlinker.com/p06283444/?utm_source=GNW
The program automates processes including casework, report writing, and data storage while also allowing officials to study critical information via reports and databases. Computer-aided design, wiretap system, video analysis, and other software are included in this software. It can be used in prison management systems to safely share data and save time. Report writing, law enforcement, casework, and police dispatching are a few of the operations that law enforcement software automates to aid cops and policymakers. Law enforcement agreements give law enforcement agencies the authority to manage critical data for analysis, such as crime databases and records. Law enforcement officials can access data at any time and from any location via these modern law enforcement solutions. For the typical person, technology has made life easier and more comfortable. As technology growth continues to accelerate, innovations pervade every aspect of society. It is critical that law enforcement organizations use technological goods to advance in the law enforcement process.
Law enforcement agencies all over the world are utilizing technological breakthroughs in order to empower police by keeping them well-informed and more efficient. Technology has helped policemen become more efficient, informed, and knowledgeable, allowing them to spend more time on patrol and interacting with the public. Police officers can spend lesser time at their desks preparing reports and recording data with the help of advanced reporting features of the law enforcement software. The electronic storage of information makes it much easier and faster to prepare and amend reports.
One of the primary factors driving the growth of the law enforcement software market in the coming years is the growing demand for powerful communication police enforcement. Additionally, effective communication is necessary to ensure the safety of law enforcement personnel and to increase their success rate.
COVID-19 Impact
The COVID-19 pandemic caused a severe impact on various economies all over the world. Several businesses were significantly devastated as a result of the outbreak of the COVID-19 infection. In addition, the governments of several countries were forced to impose lockdown in their nations. As a result, the manufacturing units of numerous goods were temporarily shut down. Moreover, these lockdowns also caused a major disruption in the supply chain of various goods. Further, the COVID-19 led the healthcare industry to a significant failure due to the shortage of beds and oxygen in hospitals.
Market Growth Factors
Integration of advanced technologies in law enforcement software
Law enforcement agencies are increasingly using advanced software like predictive analytics, digital and mobile forensics, as well as crime analytics, owing to the world’s rapid digital transformation and the expectation that police officers would be able to work seamlessly between the office and the street. This opens up new possibilities for not only modernizing legacy systems like computer-assisted dispatch and record management, but also implementing new and advanced capabilities like forensic case management, predictive policing, body-worn cameras, digital & mobile forensics, crime analytics, and digital evidence management. To execute their daily operations, law enforcement agencies are depending more than ever on new technology such as financial investigations, cyber defense actions, big data & data analytics, and more.
An increasing number of ransomware attacks
Cyberattacks are becoming more common. Doxing and ransomware are a few of the major threats to a department’s security and productivity. Ransomware encrypts the victim’s sensitive data and holds it hostage, refusing to unblock it unless the user pays a certain amount of money. A significant number of law enforcement departments and government agencies have been harmed by these attacks, with many of them losing years of data and perhaps compromising crucial cases. Several law enforcement agencies comprise outdated systems, which can become ideal targets for these cyber-attacks.
Market Restraining Factors
Government compliances and regulations
Law enforcement authorities can use intelligence to solve crimes more effectively. Security, on the other hand, ensures that confidential data and information do not fall into the access of any unauthorized individual or organization. Surveillance by law enforcement agencies aids in gathering large amounts of information regarding a crime or criminal activity prior to its occurrence, which aids in the establishment of the number of crime occurrences. Because this software is used to manage personal information and assist law enforcement in the investigation, detection, or prosecution of criminal offenses, law enforcement software solution providers must comply with government codes and standards, and regulations to provide appropriate controls for protecting crucial information.
Component Outlook
Based on Component, the market is segmented into Solution and Services. In 2021, the services segment garnered a significant revenue share of the law enforcement software market. The rising growth of the segment is owing to the increasing demand for professional and managed law enforcement services. These services significantly streamline the process of managing the software and offer precise operation management
Solution Type Outlook
Based on Solution Type, the market is segmented into Computer-aided dispatch, Incident Response & Case Management, Record Management, Jail Management, and Others. In the solution segment, the computer-aided dispatch recorded the largest revenue share of the market. To respond promptly during an incident, law enforcement officers require accurate and real-time information. Computer-aided dispatch solution allows officers to immediately respond to an emergency call. Dispatchers, call takers, and 911 operators use computer-aided dispatch systems to prioritize and record incident calls, determine the location and status of responders across the field, and efficiently dispatch responder personnel. CAD systems can send messages to emergency responders in the field using mobile data terminals, radios, and cell phones. A geographic information system, an automatic vehicle locating system, a caller identification system, logging recorders, and numerous databases may all be interfaced with CAD systems. A unified CAD system connects to several agencies and computer systems that support fire, law enforcement, and EMS, as well as providing communication across agencies and jurisdictions.
Services Type Outlook
Based on Services Type, the market is segmented into Implementation, Consulting, and Training & Support. In the services segment, the training and support segment procured a substantial revenue share of the market in 2021. The increasing growth of the segment is attributed to the rising number of people joining law enforcement department. Support for the implementation and usage of law enforcement software is included in training and support services. They include assistance provided during, before, and after the deployment, as well as maintenance exercises. Functional, technical, remote, and database support are provided to law enforcement companies via phones, web conferencing, and ticketing systems, as well as onsite assistance.
Deployment Mode Outlook
Based on Deployment Mode, the market is segmented into On-premise and Cloud. In 2021, the on-premise segment witnessed the maximum revenue share of the law enforcement market. The growth of the segment is attributed to the rising demand for control over the software. On-premises deployment involves installing solutions on hardware that is located across the premises of law enforcement agencies. Law enforcement employees have direct access to sensitive case files and can manually regulate the computing infrastructure’s configuration, management, and security. Despite the fact that on-premises solutions are more expensive than cloud-based solutions, several law enforcement and public safety organizations prefer this deployment approach due to security concerns when dealing with highly sensitive data.
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2021, North America accounted for the largest revenue share of the law enforcement software market. The increasing growth of the regional market is due to the surging adoption of latest and advanced technologies across the region. This region has observed great political transformations, economic growth, and social shifts in recent years. Because of the complexity of cyber threats, countries like Canada, Mexico, and the United States have implemented new national cybersecurity regulations. As a developed economy, North America is seeing rapid changes in the adoption and deployment of new technologies that are supported by adequate infrastructure. Therefore, the growth of the regional market is being significantly augmented.
The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; Nuance Communications, Inc. is the major forerunner in the Law Enforcement Software Market. Companies such as Accenture PLC, Motorola Solutions, Inc. and NICE 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, Accenture PLC, Motorola Solutions, Inc., NICE Ltd., DXC Technology Company, Esri, Inc., Hexagon AB, Nuance Communications, Inc., Axon Enterprise, Inc., and Palantir Technologies Inc.
Recent strategies deployed in Law Enforcement Software Market
Partnerships, Collaborations and Agreements:
Mar-2022: Hexagon’s Safety came into a partnership with VIDIZMO, an enterprise video content management system. This partnership aimed to offer enhanced video content and digital evidence management. This partnership would allow Hexagon’s customers to manage the all-over lifecycle of digital evidence.
Jan-2022: NICE partnered with Magnet Forensics, a global leader in the development of software solutions. Through this partnership, the company aimed to bring digital transformation in police investigations and case building in order to expedite the pursuit of justice.
Nov-2021: Skydio teamed up with Axon, a global leader in connected public safety technologies. Under this partnership, Skydio would help Axon automatically upload videos and photos captured on their drones to Axon Evidence through early access program.
Product Launches and Product Expansions:
Mar-2022: NICE rolled out X-Sight, an advanced Entity Risk SaaS solution. The new product is powered by machine learning, entity resolution, network analytics, and AI and would provide a single-risk score that offers a financial institution meaningful insight into its customers across an enterprise by aiding them in preventing fraud and increasing the efficiency of anti-money laundering applications.
Sep-2021: Motorola launched the M500, the first AI-enabled in-car video system for law enforcement. The new product comprises new backseat passenger analytics with the ability to record footage with an in-car camera whenever a person enters the back of a police vehicle.
Acquisitions and Mergers:
Nov-2021: Accenture completed its acquisition of ClearEdge Partners, a company specializing in procurement spend management. Through this acquisition, the company aimed to integrate ClearEdge’s solutions, proprietary methodologies, and IT expertise into its SynOps platform in order to enable Accenture to extend purchasing expertise and insights to aid its customers in saving costs and extracting greater value out of prevailing IT investments.
Aug-2021: Accenture Federal Services took over Novetta, an analytics software and solutions provider. With this acquisition, the company aimed to add National Security offerings into its portfolio in order to offer highly specialized, mission solutions that customers turn to for excellence in the converging domains of intelligence expertise, analytics, cloud engineering, and cyber.
Jul-2021: Accenture acquired Openminded, a cybersecurity services company based in France. With this acquisition, the company aimed to avail Openminded’s cloud & infrastructure security, advisory, managed security services, and cyber defense to its clients in order to aid them in estimating and lowering cybersecurity risks, quickly detecting and addressing cyber incidents, and deploying best practices within regulatory compliance.
Jun-2021: Accenture took over umlaut, an engineering services and consulting company. Through this acquisition, the company aimed to expedite its deep engineering capabilities in order to aid organizations in the utilization of digital technologies such as artificial intelligence, cloud, and 5G with the purpose to transform their techniques for designing, engineering, and manufacturing their products and embed sustainability.
Aug-2020: Motorola completed its acquisition of Callyo, a cloud-based mobile applications vendor for law enforcement. This acquisition aimed to complement the command center software suite critical mobile technology capabilities of Motorola, which offers a seamless flow of information from the field to the command center.
Scope of the Study
Market Segments covered in the Report:
By Component
• Solution
o Computer-aided dispatch
o Incident Response & Case Management
o Record Management
o Jail Management
o Others
• Services
o Implementation
o Consulting
o Training & Support
By Deployment Mode
• On-premise
• Cloud
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 Australia
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
• Accenture PLC
• Motorola Solutions, Inc.
• NICE Ltd.
• DXC Technology Company
• Esri, Inc.
• Hexagon AB
• Nuance Communications, Inc.
• Axon Enterprise, Inc.
• Palantir Technologies 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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