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Collaborative Robot Market – Growth, Trends, Covid-19 Impact, And Forecasts (2023 – 2028)

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New York, Feb. 20, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Collaborative Robot Market – Growth, Trends, Covid-19 Impact, And Forecasts (2023 – 2028)” – https://www.reportlinker.com/p06192786/?utm_source=GNW
The Global Collaborative Robot Market is expected to grow at a CAGR of 21.6% over the forecast period.

Key Highlights
Industrial robots used in the automotive industry are more efficient and utilized cost-effectively, owing to their new speed, accuracy, precision, flexibility, and agility levels. The complexity of manufacturing passenger cars has increased over the past ten years. This has led to automation solutions robots’ usage for a substantial proportion of the production processes.
Machine learning (ML) has made significant advancements wherein the software systems can recognize subtle and complex patterns in data. Besides, the use of Artificial Intelligence (AI) and its burgeoning applications is anticipated to enable one robot to learn from another.?
Though these robots are developing rapidly, some challenges prevent them from being applied to multiple manufacturing units. The most crucial challenge is the need for fine skills, such as picking up small and delicate objects and making rapid decisions to avoid obstacles without stopping production.
The collaborative robots in the market are also becoming more affordable, easier to use, and less complex for training purposes. This will primarily offer multiple options to organizations, increasing the drive and the demand for these robots. Collaborative robots enable industries of all sizes and scales to stay competitive as these robots use the latest sensors, plug-and-play technologies, and automatic robot programming from CAD data.
Companies are adopting these robots to increase efficiency in their process. For instance, Tomenson Machine Works adopted automation for its pin stamping application primarily to improve profitability, quality, and worker satisfaction. The company adopted an OnRobot RG6 gripper and Universal Robots UR3 cobot arm, which can handle dozens of part sizes and is being used for potential applications such as deburring, machine tending, and packaging.
As the world is continuously fighting the rapid spread of the COVID-19 pandemic, robotics and automation are playing a very crucial role in helping to safeguard the people and in processing the supplies that people need as they are shifting towards remote working and home learning. The robots help disinfect hospitals. Autonomous deliveries from the robots bring the supplies to people as they adopt social distancing. Moreover, automated workstations are speeding up the work of pharmaceutical companies.
The costs of robotic systems are associated with robust hardware and efficient software. Automation equipment involves using advanced automation technologies that require high capital investment. For instance, the price of da Vinci, a surgical robot that costs around USD 1.5 million, includes replacing parts that cost around USD 1,900 per operation. Therefore, the high maintenance cost of these robots is expected to challenge their adoption.

Collaborative Robot Market Trends

Automotive Segment will Drive the Market

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The automotive sector is witnessing significant growth in the number of units produced per day. The machinery on the production floor requires proper maintenance to shorten production cycles and increase production output. Cobots can easily achieve lower direct unit production costs. Moreover, the throughput can be higher depending on the assembly process than in traditional robotic systems. These kinds of cobots are used in the automotive industry, which can be applied to auto part manufacturing (assembling major vehicle parts) and finished vehicle assembly.
For instance, in 2021, according to OICA, China was the leading market for motor vehicle production, with more than 26 million cars and commercial vehicles produced. This figure was even more than the sum of the production values of the other countries. So utilizing these robots can shorten production cycles and increase production output.
Collaborated robotics used for automotive applications are experiencing a massive upsurge in recent times owing to the proliferation of automotive plants in eminent Asian nations, including China, India, and Vietnam, and growing demand for automotive robotics from automakers in North America. Various prominent automakers, including BMW, Mercedes Benz, and Ford, have been deploying cobots on their production floors to carry out myriad functions such as welding, car painting, and assembly line activities.
In April 2021, Universal Robots (UR), a Danish manufacturer of smaller flexible industrial collaborative robot arms, urged Malaysian automotive manufacturers to explore new opportunities to use robotic solutions, such as collaborative robots (cobots) in automotive manufacturing facilities. This came up after the Malaysian Automotive, Robotics, and IoT Institute (MARii) stated that it is expecting the automotive industry, including Mobility as a Service (MaaS), to contribute up to 10% of gross domestic product (GDP).
In recent years, YASKAWA Electric Corporation began the sale of the MOTOMAN-HC20DT anti-dust and drip-proof function as a new line of COBOT. Its main application is the transportation and assembly of automotive and machinery-related parts. It also improved usability due to direct attach tools, such as a robot hand, by mounting a connector for hands at the tip of the arm.
The automotive industry has invested billions in developing edge computing technology. According to Ericsson’s projections, the global number of connected vehicles may grow to around 700 million by 2025. The data volume transmitted between vehicles and the cloud may be about 100 petabytes per month. A global director of manufacturing engineering integration at a major automotive OEM quoted that cobots have become a “fundamental game changer” on the automotive factory floor.

North America to Register Significant Growth

The North American region is among the leading innovators and pioneers in the adoption of robotics and is one of the largest markets. The primary reason for the market’s growth is the increasing adoption of these collaborative robots across numerous industries.
Moreover, robotic surgery has been significantly adopted in the United States. The annual procedure volume for robotic surgery is greater than 5,00,000 in the United States. In order to build brand image and competitive advantage, robotic surgery has become the most rapidly adopted medical device over the past two decades. This is likely to fuel the need for robots in the medical and healthcare sector in the region.
The primary driver for the growth of collaborative robots in the region is the manufacturing industries in the United States that are currently under the ongoing trend to automate their production processes to strengthen the US industries in domestic and international markets.
The government in the region is also encouraging the adoption of robotics by taking initiatives to support the development of modern technologies in the robotics market. For instance, the US Federal Government has commenced a program called the National Robotics Initiative (NRI) to bolster the capabilities of building domestic robots in the country and encourage research activities in the field.
The increasing investments by the National Science Foundation (NSF) are also augmenting the collaborative robot market in the region. The NSF invested USD 700,000 to USD 1 million to support novel technologies like robotics in 21 projects in three-year durations. The NSF program proliferates collaborations with industries to assess lab-created technologies.

Collaborative Robot Market Competitor Analysis

The collaborative robot market is moderately competitive, and companies focus on innovation to remain competitive in the market. Furthermore, acquisitions and collaboration of large companies with startups are expected.

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October 2021 – OMRON Corporation announced a capital investment agreement with Techman Robot, Inc, a prominent collaborative robot brand that works at manufacturing sites. OMRON will have an approximately 10% stake in Techman.
September 2021 – The enhanced payload capabilities of Universal Robots’ UR10e, combined with its longer reach, position it for increased packaging and machine tending applications, whereas the UR5e can automate box erection. The UR10e from Universal Robots can now lift 12.5kg (27.55lbs), a 25% increase over the previous generation. In addition to being Universal Robots’ longest-reaching cobot, this payload upgrades for the UR10e better position it for palletizing, machine tending, and packaging applications. The UR10e now has a 2.5kg gripper and can be used in palletizing applications with cartons weighing up to 10kg.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06192786/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

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Juniper Biologics Expands Distribution Rights for Caris Life Sciences’ Molecular Profiling in the Middle East and Africa

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SINGAPORE, June 23, 2024 /PRNewswire/ — Singapore-headquartered Juniper Biologics Pte Ltd (Juniper), a leading healthcare and pharmaceuticals company focused on commercialising novel therapies, has been granted distribution rights for Caris Life Sciences (Caris)’ solid tumour molecular profiling services in the Middle East and Africa (MEA). Caris is the leading next-generation AI TechBio company and precision medicine pioneer. This expansion follows the initial January 2023 distribution rights partnership with Caris for the same services in Southeast Asia (SEA). Juniper is now poised to offer Caris’ advanced solid tumour molecular profiling services across a broader region, enhancing patient access to personalised treatment options.

Caris’ best-in-class molecular profiling, combined with proprietary artificial intelligence, provides more precise and individualized cancer treatments. This profiling approach assesses DNA, RNA, and proteins, revealing a molecular blueprint that identifies treatment options specific to each patient’s cancer. Caris has developed the world’s largest and most informative platform for cancer analysis, featuring the most advanced tumour profiling available, including Whole Exome and Whole Transcriptome Sequencing across over 23,000 genes. By analysing biomarkers found in tumours, Caris helps healthcare providers make informed choices for personalised care.
Juniper Biologics is committed to driving positive change in the pharmaceutical industry on a global scale. Aligned with its mission to deliver transformative therapies through bold scientific innovation, Juniper’s collaboration with Caris will enhance access to quality treatments for patient communities in the Middle East and Africa. Juniper continues to pursue impactful partnerships aimed at uplifting communities and individuals, especially in underserved regions where access to advanced therapies is limited.
Raman Singh, Founder and Chief Executive Officer (CEO) of Juniper Biologics, spoke on the successful acquisition: “Caris molecular profiling bridges the gap between tumour biology and cancer treatments, guiding precision medicine through personalised treatment selection for physicians and their patients. Our exclusive partnership with Caris Life Sciences to distribute this service in the Middle East and Africa will significantly empower healthcare professionals to make informed decisions for their patients. This service enables oncologists to recommend highly personalised treatments that specifically target a patient’s cancer, thereby improving and expanding their care options. This targeted approach offers patients, particularly those with rare or aggressive cancers, an improved quality of life.”
“Caris is pleased to expand the distribution of our molecular profiling services in the Middle East and Africa through our partnership with Juniper Biologics,” said Caris President David Spetzler, MS, PhD, MBA. “This collaboration aligns with Caris’ goal of enabling clinicians worldwide to make the best individualised treatment choices for their patients and ultimately helping to improve patient outcomes.”
This partnership marks a significant milestone in expanding access to personalised medicine and advanced cancer treatment technologies in the Middle East and Africa.
About Juniper Biologics
Backed by The Sylvan Group, Juniper Biologics is a science-led healthcare company focused on delivering novel therapies to improve the health and quality of life of patients, by building a growing presence in Oncology and Oncology Supportive Care, Rare/Orphan Diseases and Gene Therapy. It was founded on a vision to provide treatments for unmet medical needs focused on specialist therapy areas in which it can make the most difference. Through bold and transformative science, Juniper Biologics is committed to creating possibilities that have the potential to become the next generation of life-changing medicines for patient communities in China, Japan, Asia, Australia, New Zealand, Middle East, and Africa.
Website: https://www.juniperbiologics.com/
LinkedIn: https://www.linkedin.com/company/juniper-biologics
About Caris Life SciencesCaris Life Sciences® (Caris) is the leading next-generation AI TechBio company and precision medicine pioneer actively developing and delivering innovative solutions to revolutionize healthcare and improve the human condition using molecular science and AI. Through comprehensive molecular profiling (Whole Exome and Whole Transcriptome Sequencing) and the application of advanced AI and machine learning algorithms, Caris has created the large-scale, multi-modal database and computing capability needed to analyse and unravel the molecular complexity of disease. This convergence of sequencing power, big data, and AI technologies provides an unmatched platform to deliver the next generation of precision medicine tools for early detection, diagnosis, monitoring, therapy selection, and drug development.
Headquartered in Irving, Texas, Caris has offices in Phoenix, New York, Cambridge (MA), Tokyo, Japan and Basel, Switzerland. Caris or its distributor partners provide services in the U.S., Europe, Asia, and other international markets. To learn more, please visit CarisLifeSciences.com.
 

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2024 Tang Prize Laureates Announced: Six Global Visionaries to Be Honored in Taiwan This September

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TAIPEI, June 22, 2024 /PRNewswire/ — The prestigious 2024 Tang Prize Laureates have been announced, recognizing outstanding contributions in various fields. The Tang Prize in Sustainable Development is awarded to American chemist Omar M. Yaghi. In the field of Biopharmaceutical Science, the prize is jointly awarded to Joel F. Habener, Svetlana Mojsov, and Jens Juul Holst. University Professor Emeritus Hsu Cho-yun of the University of Pittsburgh and Academician of Academia Sinica is honored with the Tang Prize in Sinology. Mary Robinson, a former lawyer and senator, former president of Ireland, former United Nations High Commissioner for Human Rights, and current Chair of The Elders, is awarded the Tang Prize in Rule of Law. These six distinguished laureates will be formally honored at an upcoming ceremony to be held in Taiwan this September.

The Tang Prize in Sustainable Development is awarded to Omar M. Yaghi, for his extraordinary contributions to sustainable development, particularly his pioneering work with Metal-Organic Frameworks (MOFs) and other ultra-porous frameworks that can be tailored for carbon capture, hydrogen and methane storage, and water harvesting from desert air. His research has revolutionized the field of chemistry and materials science, offering transformative solutions for sustainable development through the creation of customizable materials with exceptional properties.
Professor Joel F. Habener, Professor Svetlana Mojsov, and Professor Jens Juul Holst have been jointly awarded the Tang Prize in Biopharmaceutical Science, for the discovery of GLP-1 (7-37) as an insulinotropic factor and the development of GLP-1 (7-37)-based anti-diabetic and anti-obesity drugs.
University Professor Emeritus Hsu Cho-yun is awarded the Tang Prize in Sinology for his exceptional contributions to the field of Sinology. Professor Hsu’s illustrious academic career has been distinguished by his holistic approach to the study of ancient Chinese history, seamlessly integrating an exploration of cultural and intellectual exchanges between China and the world. With his profound erudition and unwavering public spirit, Professor Hsu embodies the quintessential Sinologist, possessing both a deep historical sensibility and a broad, worldly vision.
The Tang Prize in Rule of Law is awarded to Professor Mary Robinson, for her “powerful advocacy for the most disadvantaged in different spheres, including gender equality, poverty alleviation, human rights, and climate justice.” In particular, the Selection Committee noted that her “passionate endeavors demonstrated an effective combination of legal acumen and practical solutions.” The Committee also noted that “from the national to the global stage, legal and political, she has innovatively transformed and expanded the various positions in which she has served to strengthen the rule of law.”
About the Tang Prize
Since the advent of globalization, mankind has been able to enjoy the convenience brought forth by the advancement of human civilization and science. Yet a multitude of challenges, such as climate change, the emergence of new infectious diseases, wealth gap, and moral degradation, have surfaced along the way. Against this backdrop, Dr. Samuel Yin established the Tang Prize in December 2012. It consists of four award categories, namely Sustainable Development, Biopharmaceutical Science, Sinology, and Rule of Law. Every other year, four independent and professional selection committees, comprising many internationally renowned experts, scholars, and Nobel winners, choose as Tang Prize laureates people who have influenced and made substantive contributions to the world, regardless of ethnicity, nationality or gender. A cash prize of NT$50 million (approx. US$1.7 million) is allocated to each category, with NT$10 million (approx. US$ 0.35 million) of it being a research grant intended to encourage professionals in every field to examine mankind’s most urgent needs in the 21st century, and become leading forces in the development of human society through their outstanding research outcomes and active civic engagement.
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Key Tech Stocks Optimizing AI Usability and Infrastructure for a $20-Trillion Future

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USA News Group CommentaryIssued on behalf of Avant Technologies Inc.
VANCOUVER, BC, June 21, 2024 /PRNewswire/ — USA News Group – Several big winners have been made already in the ongoing artificial intelligence (AI) revolution. However, there’s clearly none bigger than chipmaking giant NVIDIA Corporation (NASDAQ: NVDA), which just surpassed two of its big tech peers to become the most valued publicly-traded company on the planet. To put it into perspective, NVIDIA’s market cap is currently larger than each of Europe’s largest stock markets, while lucky investors who bet $1000 on NVIDIA stock just ten years ago would be sitting on an extra $297,600 today. Now as analysts are predicting that AI and cryptocurrency could inject $20 trillion into the global economy by 2030, the best minds in the tech sector are moving their pieces into place to secure their piece of the pie. Behind the scenes, tech stocks are optimizing the infrastructure, security, and usability of AI, including new developments from Avant Technologies Inc. (OTCQB: AVAI), International Business Machines Corporation (IBC) (NYSE: IBM), Cloudflare, Inc. (NYSE: NET), and Accenture plc (NYSE: ACN).

Known as a pioneer in the sector for its innovative AI technology, Avant Technologies Inc. (OTCQB: AVAI) has improved its main product, Avant AI™. This sophisticated AI system, celebrated for its advanced machine and deep learning capabilities, is adaptable across a wide range of industries.
In a recent strategic development, Avant has signed a Binding Letter of Intent (BLOI) with Flow Wave, LLC (FW), a Florida-based leader in immersible computer server technology. This agreement allows Avant to acquire up to 50 cutting-edge immersible computer servers from FW in a deal valued at $50 million.
“Avant’s revolutionary AI software platform is poised to transform the landscape of data center management,” said William Hisey, CEO of Avant.  “By integrating proprietary machine learning algorithms with open-source innovations into these servers, Avant is developing a highly intelligent system designed to optimize resource allocation, enhance performance, and drive unprecedented levels of efficiency and automation. This marks the beginning of a new era for Avant Technologies, positioning us at the forefront of the supercomputer-driven data center industry and setting new standards for managing and storing AI applications.”
Flow Wave Immersible AI Supercomputer Servers are great for heavy AI and machine learning tasks because they have strong processing power, meaning they can analyze data faster and more efficiently. Their special cooling technology uses less energy, saving money and reducing environmental impact. The servers are also compact and easy to set up, making them ideal for data centers with limited space. Plus, their design helps them last longer and require less maintenance.
Avant plans to tackle the challenges of the digital age by buying up to 50 of these high-performance servers from Flow Wave. These servers, with their advanced cooling technology, boost performance and save energy. This deal shows Avant’s dedication to providing top-notch AI infrastructure and improving efficiency. More details about the transaction will be shared once a definitive agreement is finalized.
One of the most active tech giants in the AI space is International Business Machines Corporation (IBC) (NYSE: IBM), which recently released a new methodology through its IBM Research® wing called LAB (Large-Scale Alignment for ChatBots), through an open-source project called InstructLab with its subsidiary Red Hat®, which IBM acquired for $34 billion in 2019. The InstructLab project builds on the LAB technique for a community-driven approach to language model development through skills and knowledge training.
As well, IBM has teamed up with WPP and LinkedIn to launch a new business-to-business (B2B) solution powered by IBM’s AI and data platform watsonx, designed to reinvent how B2B markets identify and engage clients and prospects across the buying journey. WPP Open for B2B will help marketers solve complex B2B marketing challenges, accurately identify and engage buying groups, and improve clients’ return on investment.
“B2B marketers have been focused on creating truly personalized, relevant and consistent experiences for buying groups at scale for years,” said Jonathan Adashek, Senior Vice President of Marketing and Communications at IBM. “Our collaboration with WPP and LinkedIn provides real-time, actionable insights that are based on trusted data. We are excited to create and use these new, powerful and trusted AI solutions to deliver a force multiplier for B2B marketing.”
Cloud-based security solution provider Cloudflare, Inc. (NYSE: NET) recently announced the general availability of its AI Gateway platform, dubbed as a unified interface for managing and scaling the generative AI workloads of clients. Since its beta launch in September 2023, AI Gateway has handled over 500 million requests and is now ready for full client use.
The general availability release followed upon another Cloudflare announcement of a collaboration with Hugging Face, the leading open and collaborative platform for AI builders, for a one-click-simple global deployment for AI applications. With its Workers AI platform now generally available, Cloudflare became the first serverless inference partner integrated on the Hugging Face Hub for deploying models, enabling developers to quickly, easily, and affordably deploy AI globally, without managing infrastructure or paying for unused compute capacity.
“Workers AI is one of the most affordable and accessible solutions to run inference,” said Matthew Prince, CEO and co-founder, Cloudflare. “With Hugging Face and Cloudflare both deeply aligned in our efforts to democratize AI in a simple, affordable way, we’re giving developers the freedom and agility to choose a model and scale their AI apps from zero to global in an instant.”
Reporting impressive generative AI revenues in its latest Q3 2024 fiscal results has caused shares of Accenture plc (NYSE: ACN) to jump this week, reporting more than $900 million in generative AI bookings in the latest quarter alone.
“Our actions to stay laser-focused on the needs of our clients are clear in our third quarter results,” said Julie Sweet, Chair and CEO of Accenture. “We… achieved two significant milestones this quarter — with $2 billion in Generative AI sales year-to-date and $500 million in revenue year-to-date — which demonstrate our early lead in this critical technology.”
Prior to the financial report, Accenture announced its intent to acquire Italian-based network services company, Fibermind, which specializes in fiber and mobile 5G networks deployment, as well as infrastructure engineering services. Together, Accenture and Fibermind will offer clients network engineering capabilities, deep industry knowledge, and technology assets powered by automation, robotics, data and AI.
Prior to its surge into the position as the world’s most valuable publicly-traded company, NVIDIA Corporation (NASDAQ: NVDA) made a pair of announcements, further cementing its role in the AI revolution.
The first was the announcement of its NVIDIA Omniverse Cloud Sensor RTX, a set of microservices that enable physically accurate sensor simulation to accelerate the development of fully autonomous machines of every kind, allowing developers to test sensor perception and associated AI software at scale in physically accurate, realistic virtual environments prior to real-world deployment.
The second announcement was the NVIDIA AI Computing by HPE, a portfolio of AI solutions and joint go-to-market integrations that enable enterprises to accelerate adoption of generative AI, co-developed with Hewlett Packard (HP).
“Generative AI and accelerated computing are fueling a fundamental transformation as every industry races to join the industrial revolution,” said Jensen Huang, Founder and CEO of NVIDIA. “Never before have NVIDIA and HPE integrated our technologies so deeply – combining the entire NVIDIA AI computing stack along with HPE’s private cloud technology – to equip enterprise clients and AI professionals with the most advanced computing infrastructure and services to expand the frontier of AI.”
All NVIDIA AI Computing offerings by HPE will be available through a combined marketing strategy involving sales teams, channel partners, and training. This strategy includes a global network of system integrators such as Deloitte, HCLTech, Infosys, TCS, and Wipro. These integrators will assist enterprises across various industries in running complex AI workloads.
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/ 
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