Artificial Intelligence
Analysis of Global Collaborative Robots Market Portrays Revenue of ~USD 18 Billion by 2030 and a CAGR of ~42% During 2022-2030 – Research Nester
New York, Oct. 21, 2022 (GLOBE NEWSWIRE) — Research Nester has published a detailed market report on ‘Global Collaborative Robots Market’ for the forecast period, i.e. 2022-2030 which includes the following factors:
- Market growth over the forecast period
- Detailed regional synopsis
- Market segmentation
- Growth drivers
- Challenges
- Key market players and their detailed profiling
Global Collaborative Robots Market Size:
The global collaborative robots market is estimated to grow at a CAGR of ~42% over the forecast period, i.e., 2022-2030. The market generated a revenue of ~USD 1 Billion in the year 2021 and is further expected to touch ~USD 18 Billion by the end of 2030. The growth of the market can be attributed to increasing production in automotive sector. Sales of electric vehicles nearly quadrupled from 2020 to 2021, reaching 6.6 million (a sales share of about 9%), increasing the overall number of electric vehicles on the road to 16.5 million. Cobots, or collaborative robots, have opened up new options for the automotive industry, including the deployment of robots next to workers without the need for fence. Cobots enable producers to release workers from boring, hazardous, and dirty jobs. In addition, cobots are accessible around-the-clock.
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These collaborative robots are also used is various other verticals such as food & beverages, electronics, plastic, and more. Additionally, cobots require artificial intelligence derived skills in order to make analysis and take better decision. Companies reported employing AI in their operations in 35% of cases, while 42% said they are investigating it in other cases. The adoption of AI has increased significantly, by four points since 2021.
Global Collaborative Robots Market: Key Takeaways
- North America region to hold the largest share
- Automotive Segment to propel highest growth
- Asia Pacific region to grow significantly during forecast period
Rising Need to Reduce Number of Workplace Accidents to Boost Market Growth
According to the International Labor Organization (ILO), there are 160 million nonfatal work-related illness cases per year. According to these statistics, 860,000 individuals are wounded at work every year, and 6,400 people die from occupational diseases or accidents. Hence collaborative robots are used, therefore boosting the demand for the market. Also when warehouse managers want to increase output without having to hire new employees and go through the on boarding process with them, they frequently prefer to invest in automation solutions. Robots help to meet production demands while also lowering workplace accidents caused by lifting, falls, and other risks.
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Further there has been growing investment in collaborative robots which is expected to drive the growth of the market. For instance, in 2020, an approximately 400 robots were installed per 10,000 workers in the manufacturing sector in Japan, placing it third in the world. Collaborative robots includes various advantages such as safety, speed, consistency, perfection, and more. Hence they are more preferred by the organization. When humans and robots collaborate, manufacturing processes are quicker, more cost-effective, and more efficient. Also they boost employment opportunity as it requires skilled workers to operate these robots.
Global Collaborative Robots Market: Regional Overview
The global collaborative robots market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growing Automotive Production to Drive Market Growth in Asia Pacific Region
The collaborative robots market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period. The growth of the market in this region can be attributed to the growing automotive production. In India, approximately 2,081,140 passenger cars, three-wheelers, two-wheelers, and quadricycles were produced in total as of June 2022. Further, growing automation of manufacturing processes, and growing demand for light-weighted market is expected to boost the market.
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Rising Remunerative Hub for Collaborative Robots to Favour the Growth of the Market in North America Region
The market in the North America region is estimated to acquire the largest share over the forecast period, backed by growing remunerative hub for collaborative robots, along with the growing adoption of industrial robots in the region. According to the statistics by the International Federation of Robotics (IFR), in the Americas, 50712 industrial robots were installed in the year 2021, which was an increase by 31% than the year 2020. The U.S. witnessed new installations of 34987 units in 2021, which was an increase by 14%.
The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Collaborative Robots Market, Segmentation by End User
- Electronics
- Automotive
- Manufacturing
- Food & Beverage
- Chemicals
- Pharmaceutical
The automotive segment is anticipated to garner the largest revenue by the end of 2030, backed by growing automotive industry. Also there has been growing vehicle penetration which could also contributed to the growth of the market. For instance, by 2025, it is anticipated that there would be approximately 70 automobiles per 1000 persons.
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Global Collaborative Robots Market, Segmentation by Payload
- Above 10 Kg
- 5 – 10 Kg
- Up to 5 Kg
The up to 5 kg segment is anticipated to hold the largest revenue by the end of 2030. The growth of the segment can be attributed to growth its wide range of attribute. They optimise low-weight collaborative activities including picking, positioning, and testing while being lightweight and flexible. Further the launch of advanced cobots is also expected to boost the market growth. As an illustration, Comau S.p.A. introduced Racer-5, a cobot that is affordable and suited for packaging and storage, in March 2021.
Few of the well-known market leaders in the global collaborative robots market that are profiled by Research Nester are Fanuc Corporation, TechMan Robot Inc., Rethink Robotics GmbH, Universal Robot A/S, AUBO Robotics USA, ABB Ltd., Denso Corporation, Yaskawa America, Inc., Bosch Rexroth AG, Staubuli International AG, and other key market players.
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Recent Development in Global Collaborative Robots Market
- On April 2020, ABB Ltd. announced that it has launched a block-based programming interface known as ‘Wizard Easy Programming’. With the launch of this programming interface, the organization aims to make programming its single arm YuMi cobot more intuitive.
- On September 2019, Universal Robots announced that it has launched a brand-new collaborative robot model, named as UR16e. This robot is designed for heavy payload application for tackling heavy duty tasks effectively.
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STOCKHOLM, Oct. 11, 2024 /PRNewswire/ — The following representatives of ASSA ABLOY AB’s shareholders will be members of the Nomination Committee for the 2025 Annual General Meeting:
– Johan Menckel, Investment AB Latour, Chairman of the Nomination Committee
– Mikael Ekdahl, Melker Schörling AB
– Marianne Nilsson, Swedbank Robur Fonder
– Yvonne Sörberg, Handelsbanken Fonder
– Carina Silberg, Alecta
The Chairman of the Board, Johan Hjertonsson, has been co-opted to the Nomination Committee.
The Nomination Committee shall prepare proposals for the Annual General Meeting in 2025 regarding the election of Chairman of the General Meeting, members of the Board of Directors, Chairman of the Board, Vice Chairman of the Board, auditor, fees for the members of the Board including division between the Chairman, the Vice Chairman and the other Board members as well as fees for committee work, fees to the company’s auditor and, if necessary, changes to the instructions for the Nomination Committee.
The Annual General Meeting will be held on 23 April 2025, in Stockholm, Sweden.
Shareholders who wish to submit proposals to the Nomination Committee should send an email to [email protected].
For more information, please contact:Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72 Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68
About ASSA ABLOY
The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 61,000 employees and sales of SEK 141 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY’s innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.
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Artificial Intelligence
AI in Social Media Market worth $10.33 billion by 2029- Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Oct. 11, 2024 /PRNewswire/ — The AI in Social Media Market is projected to grow from USD 2.20 billion in 2024 to USD 10.33 billion by 2029, at a compound annual growth rate (CAGR) of 36.2% during the forecast period, according to a new report by MarketsandMarkets™. The market is expected to grow due to the rise in the need for more personalized user experiences, optimized advertising, and automated customer service.
Browse in-depth TOC on “AI in Social Media Market”
315 – Tables 63 – Figures320 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2019-2029
Base year considered
2023
Forecast period
2024-2029
Forecast units
USD (billion)
Segments Covered
Product type, Use case, End user, and Region
Geographics covered
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Companies covered
Major vendors in the global AI in Social Media Market are Google (US), Meta (US), IBM (US), Sprout Social (US), Sprinklr (US), AWS (US), LivePerson (US), HubSpot (US), Microsoft (US), Adobe (US), Baidu (China), OpenAI (US), Hootsuite (US), Qualtrics (US), Brandwatch (UK), Converseon (US), Meltwater (US), Quid (US), Digimind (France), CreatorIQ (US), Aspire.io (US), Lately.AI (US), SocialPilot (US), Copy.ai (US), Flick (UK), Dash Hudson (US), Jasper (US), Upfluence (US), Ocoya (Lithuania), Upgrow (US), StoryChief (Belgium), Genius.AI (UAE), ContentStudio (US), Emplifi (US), Lumen5 (US), Buffer (US), Narrato (India), Mentionlytics (UK), Kapwing (US), Predis.AI (India), Pictory (US), Midjourney (US), and Synthesia (UK).
The major factors driving the market growth of AI in Social Media Market include the introduction of AI-powered deepfake detection in social media to identify and flag altered content. Social platforms are increasingly relying on advanced AI algorithms to detect and flag manipulated videos, images, and audio, addressing growing concerns about misinformation, fraud, and digital deception. Growth in Gen AI-based content creation tools enables brands to create captivating and unique content. These tools empower brands to effortlessly create captivating, unique content at scale, allowing personalized engagement with audiences. The rising demand for highly personalized content and recommendations tailored to user preferences and behavior are shaping the social media market. This personalization boosts user satisfaction, fosters stronger engagement, and increases time spent on platforms, benefiting users and advertisers. Improved collaboration between influencers and brands is boosting the effectiveness of influencer marketing campaigns with AI. AI tools help brands and influencers to better understand the audiences by analyzing data like preferences, behaviors, and trends. This helps both brands and influencers grow their reach and engagement which makes influencer marketing campaigns successful.
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Advent of Gen AI-based content creation tools enables brands to create captivating and unique content.
The rise of gen AI-based content creation tools has transformed social media by empowering brands to create unique content. These tools are powered by advanced language models, enable automated text generation, images, and videos that cover target audiences, and maintain a dynamic presence on platforms. The utilization of gen AI across sectors such as entertainment, healthcare, and marketing agencies is transforming content creation and customer engagement. Gen AI also simplifies content production workflow, reducing time and cost related to traditional content creation methods. Global tech giants are investing heavily in AI technologies to improve user experience, enhance advertising effectiveness, and gain competitive advantages in the AI in social media market.
By Product type, the influencer marketing segment registers for the fastest growing market during the forecast period.
By automating and optimizing influencer marketing, AI social media tools enable brands to make data-driven decisions, reach relevant audiences, and ensure their campaigns are more effective and cost-efficient. AI-based social media tools in influencer marketing assist brands in detecting fraudulent influencers, which can improve the ROI, increase sales, and improve the brand’s reputation. For instance, AI content tools like Lumen5, Canva, Jasper, and Midjourney are major tools for improving influencer marketing strategies by crafting high-quality content.
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By region, Asia Pacific to register the highest CAGR market during the forecast period.
Asia Pacific is a rapidly growing region for AI in social media, compelled by high mobile and internet penetration rates and a young, tech-savvy population. Countries like China, India, Japan, and South Korea are leading the adoption, with social media platforms being central to the region’s social media ecosystem. With the vast amount of content generated in diverse languages, AI in social media is used for content moderation, language translation, and understanding user-generated content, specifically across China and India.
Top Key Companies in AI in Social Media Market:
Some major players in the AI in Social Media Market include Google (US), Meta (US), IBM (US), Sprout Social (US), Sprinklr (US), AWS (US), LivePerson (US), HubSpot (US), Microsoft (US), Adobe (US), Baidu (China), OpenAI (US), Hootsuite (US), Qualtrics (US), Brandwatch (UK), Converseon (US), Meltwater (US), Quid (US), Digimind (France), CreatorIQ (US), Aspire.io (US), Lately.AI (US), SocialPilot (US), Copy.ai (US), Flick (UK), Dash Hudson (US), Jasper (US), Upfluence (US), Ocoya (Lithuania), Upgrow (US), StoryChief (Belgium), Genius.AI (UAE), ContentStudio (US), Emplifi (US), Lumen5 (US), Buffer (US), Narrato (India), Mentionlytics (UK), Kapwing (US), Predis.AI (India), Pictory (US), Midjourney (US), and Synthesia (UK).
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Artificial Intelligence
NTT DATA signs agreement to acquire Aoop and will become a leader in ServiceNow solutions in Latin America
BIELEFELD, Germany and SÃO PAULO, Oct. 11, 2024 /PRNewswire/ — NTT DATA Business Solutions AG, a global unit of NTT DATA, announces that the agreement for the acquisition of Aoop, a leading ServiceNow implementation company in Brazil, has been signed. The terms of the acquisition have been finalized between the companies and will be completed following approval from the Administrative Council for Economic Defense (CADE). Founded in 2017, Aoop supports customers across various industries and is a specialist in the acceleration of automated digital strategies. With Aoop, NTT DATA will expand its operations in the Latin American ServiceNow solutions market, complementing a recent acquisition in the UK focused on strengthening this offering in Europe and the United States.
“With the acquisition of Aoop, we significantly increase our competitive strength in Brazil by offering both SAP and ServiceNow solutions, positioning us alongside market leaders,” says Norbert Rotter, CEO, NTT DATA Business Solutions. “This move will not only secure us a leading position in the fast-growing ServiceNow ecosystem but will also integrates a company with a strong market presence and solid financials to NTT DATA. It will be a significant step in driving our strategic objectives, strengthening our partnership with ServiceNow and our commitment to establishing a Center of Excellence in the region.”
Ricardo Fachin, Managing Director of NTT DATA Business Solutions Brazil adds: “The acquisition of Aoop will solidify our leading position in the Brazilian market. It will enhance synergies with our other Latin American and U.S. operations, accelerating our regional growth. As part of ServiceNow’s global strategy, Brazil will become a significant shoring center for the group. Aoop’s comprehensive portfolio, covering all ServiceNow verticals, will benefit all NTT DATA customers.”
With a strategy focused on driving the future of organizations and providing full lifecycle services, Aoop has completed around 2,500 digital transformation projects and has over 300 professionals certified on ServiceNow solutions. This expertise has led the company to become a ServiceNow Elite Partner in record time. The continuous commitment to excellence and the delivery of innovative solutions have established Aoop as a market reference, integrating intelligent efficiency throughout the entire production chain.
“Aoop leads the ServiceNow market in Brazil. Our integration with NTT DATA Business Solutions will allow us to further expand our solution offerings to existing customers, access new opportunities for joint solutions with SAP customers and accelerate our international expansion,” says Luiz Cesar Baptistella, CEO and founder of Aoop.
The acquisition of Aoop will add 120 customers to the portfolio of NTT DATA Business Solutions, which has been operating in Brazil for 25 years. Aoop will become a subsidiary of NTT DATA Business Solutions – Servicos de Tecnologia Ltda. in Brazil and will operate as an independent company after the acquisition, using the brand name “Aoop, an NTT DATA Company”.
For more information visit nttdata-solutions.com.
About NTT DATA Business Solutions
NTT DATA Business Solutions is a leading global IT service provider focused on SAP with a powerful ecosystem of partners. With more than 35 years of in-depth experience, we enable companies worldwide to become Intelligent Enterprises. We deliver end-to-end solutions that accelerate sustainable growth and success – from strategic consulting and implementation to managed services and beyond. As a global strategic SAP partner, we drive innovation and leverage the latest technologies to support our customers individually and across all industries. Our more than 15,300 dedicated employees in over 30 countries work passionately every day to make it happen.
NTT DATA Business Solutions is part of NTT DATA, a $30+ billion trusted global innovator of business and technology services headquartered in Tokyo. As One NTT DATA we serve 75% of the Fortune Global 100 and are committed to helping customers innovate, optimize and transform for long-term success. NTT DATA is part of NTT Group.
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Servicos de Tecnologia Ltda.
1440 Visconde de Nacar Street –
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T: +55 41 988658826
Email: [email protected]
Jasmin Straeter
Head of Global Communications
NTT DATA Business Solutions AG
Königsbreede 1, 33605 Bielefeld, Germany
T: +49 521 9 14 48 108
Email: [email protected]
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