Artificial Intelligence
Global Digital Biomanufacturing Market Report 2023: Growing Number of Biologics-related Clinical Trials Fuels the Sector
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Dublin, May 01, 2023 (GLOBE NEWSWIRE) — The “Digital Biomanufacturing Market – Distribution by Type of Technology, Deployment Options, Types of Biologics Manufactured, and Key Geographical Regions: Industry Trends and Global Forecasts, 2023-2035” report has been added to ResearchAndMarkets.com’s offering.
This report features an extensive study of the current market landscape and the likely future potential of the digital biomanufacturing market, over the next 12 years. It highlights the efforts of several stakeholders engaged in this rapidly emerging segment of the pharmaceutical industry.
Since the outbreak of COVID-19, there has been immense pressure on the biopharmaceutical industry to reduce production timelines and increase the manufacturing capacity, without compromising on the quality of the final product. Further, a surge in morbidity across the globe and enhanced interconnectivity of equipment and technologies has led to an increased burden on manufacturing operations.
Other factors that influenced the market include higher competition, competitive pricing, inflation rate, technological advancements and evolving regulatory guidelines.
These factors demanded a fundamental shift from conventional manufacturing operations, which subsequently led to the introduction of industry 4.0 technologies. Digital biomanufacturing or digital bioprocessing has emerged as a promising alternative to mitigate a number of bioprocessing related concerns, as well as significantly promote process robustness and product quality.
Digital biomanufacturing, popularly known as bioprocessing 4.0, refers to the integration of physical equipment with digital software and platforms, such as process analytical technologies (PAT), data analysis software (DAS), manufacturing execution systems (MES) and digital twins, in order to streamline the overall biomanufacturing process.
Implementation of these technologies in monitoring, analytics and computing capabilities is expected to revolutionize current biomanufacturing practices. Further, digital bioprocessing is believed to have transformed manufacturing principles in areas, such as process development, operational activities, logistics and supply chain management, when used in combination with advanced technologies, including artificial intelligence (AI), machine learning and internet of things (IoT).
Growing Demand for Biologics
Breakthroughs in the biotechnology industry, over the last few decades, has provided a considerable boost to the overall development landscape of biopharmaceutical drugs. In 2022, a milestone was witnessed when the number of approvals received by biologics narrowly outpaced those reported by small molecules.
Further, in the same year, nearly half of the biologic approvals were allotted to novel class of modalities, including antibody drug conjugates (ADCs), bispecific antibodies, cell therapies and gene therapies. This can be attributed to the fact that the demand for biologics has been constantly increasing and is supported by continuous innovation in this field. Specifically, advancements in niche segments is expected to culminate in accelerated growth of the biologics market.
Need for Digital Biomanufacturing
According to a recent report, the development of a new drug takes 10-15 years, with an overall investment of USD 1-2 billion. Despite the significant investment of resources, over 90% of the candidates fail at different stages of clinical trials, resulting in huge financial losses for biomanufacturers.
As a direct consequence of the consistently growing demand for biologics and the existing challenges, there is an increase in the requirement for solutions that help in establishment of a digitally enabled and connected end-to-end process, in order to optimize bioprocess operations. Research suggests that, at present, 20% of the organizations have already adopted digitalized approaches for biomanufacturing.
Such approaches are expected to enable an uninterrupted and accessible supply of cost-effective drugs that are likely to be launched commercially, with reduced development timelines. In fact, several leading biopharma players have claimed to achieve 40% increase in quality, 15% reduction in cost, 80% decrease in process variability and 20% shorter operational timelines by leveraging digital biomanufacturing advances.
Key Advantages of Digital Biomanufacturing
Currently, batch-to-batch variation and product validation are considered as major bottlenecks faced by the biologic industry. Digital biomanufacturing harnesses various advancements, such as real-time monitoring, data analytics, automation, modelling, process optimization and other digital tools to transform the available information into actionable insights. This is expected to help in the creation of a uniform process, which is capable of decreasing the deviation in quality of each batch.
Other key benefits of digital biomanufacturing include improved efficiency, higher product yield, better product quality, data integrity, reduced manual intervention and limited risk of contamination. It is worth noting that digitalization in biopharmaceutical manufacturing is becoming an essential requirement, given its potential to develop enhanced quality products, with high speed, agility and sustainability.
Current Market Landscape of Digital Biomanufacturing
The digital biomanufacturing providers landscape features a mix of large, mid-sized and small companies, which have the required expertise and offer various digital services for the production of biologics.
At present, more than 140 digital technologies have been / are being developed by over 100 industry stakeholders to enable the manufacturing of biologics. Further, various types of technologies currently facilitate smart biomanufacturing; of these, 48% are based on the principles of PAT, followed by those using MES (28%), DAS (14%) and digital twins (10%).
Key Trends in the Digital Biomanufacturing Market
Many stakeholders are undertaking initiatives to forge alliance with other industry / non-industry players. It is worth highlighting that over 75 strategic partnerships related to digital biomanufacturing have been inked since 2018, indicating that software providers are actively upgrading their technology related capabilities and accommodating the current and anticipated demand for digital biomanufacturing.
Given the inclination towards cutting-edge technologies, along with innovative approaches to tailor the bioprocessing, we believe that the digital biomanufacturing technologies market is likely to evolve at a rapid pace, over the coming years. ,
Market Size of the Digital Biomanufacturing Market
Driven by improved data analytics, better product yield, faster production timelines, access to real time operations and rising interest in paperless manufacturing amongst innovators, lucrative opportunities are expected to emerge for players offering bioprocessing 4.0 services.
The digital biomanufacturing market is anticipated to grow at a CAGR of 11%, during the period 2023-2035. In terms of type of technology, the digital biomanufacturing market for digital twins is expected to grow at a relatively faster pace (19%), till 2035.
Further, currently, the market for on-premise deployment options is expected to capture the majority share, however, this trend is likely to change in the foreseen future with the rising popularity of cloud-based technologies.
Frequently Asked Questions
Question 1: What is the global market size of digital biomanufacturing?
Answer: The current global digital biomanufacturing market is anticipated to be worth around USD 15 billion.
Question 2: Which are the top players in the global digital biomanufacturing market?
Answer: Presently, more than 100 companies are engaged in digital biomanufacturing, worldwide. The top players engaged in this domain (which have also been captured in this report) include AspenTech, Bioreactors.net, Dassault Systemes, FUJIFILM Diosynth Biotechnologies, GE Healthcare, Korber, Merck, Sartorius and Thermo Fisher Scientific.
Question 3: What are the factors driving the digital biomanufacturing market?
Answer: Increasing number of approved biologics, growing number of biologics-related clinical trials, rise in R&D activity and a shift in preference for cloud-based processes, over the traditional biomanufacturing operations, has bolstered the demand for digital biomanufacturing software.
Question 4: Which region has the highest market share in the global digital biomanufacturing market?
Answer: North America and Europe capture around 75% share in the current global digital biomanufacturing market, followed by Asia-Pacific.
Question 5: What are the leading market segments in digital biomanufacturing market?
Answer: Currently, in terms of type of technology, process analytical technology captures the largest share (close to 50%) in the global digital biomanufacturing market. However, digital twins are likely to witness higher annual growth rates in the upcoming years, owing to their rising popularity. Further, in terms of type of company, software providers hold the largest share in the digital biomanufacturing market as compared to CDMOs.
Question 6: Which segment, in terms of deployment options, accounts for the largest share in the global digital biomanufacturing market?
Answer: At present, the global biomanufacturing market is dominated by the players providing on-premises deployment options, while the market is anticipated to shift towards the use of cloud-based technologies in the near future.
Question 7: What are the partnership and collaboration trends in the digital biomanufacturing domain?
Answer: At present, service alliances, technology utilization agreements and acquisitions are the most prominent types of partnerships inked between various stakeholders engaged in the digital biomanufacturing domain.
Question 8: What is the growth rate (CAGR) in the global digital biomanufacturing market?
Answer: The global digital biomanufacturing market size is projected to grow at a CAGR of ~11% in the coming years.
Key Topics Covered:
1. PREFACE
2. EXECUTIVE SUMMARY
3. INTRODUCTION
4. MARKERT LANDSCAPE
4.1. Chapter Overview
4.2. List of Process Analytical Technology (PAT) Providers
4.2.1. Analysis by Year of Establishment
4.3. List of Data Analysis Software (DAS) Providers
4.4. List of Manufacturing Execution Systems (MES) Providers
4.5. List of Digital Twins Providers
5. TECHNOLOGY COMPETITIVENESS ANALYSIS
5.1. Chapter Overview
5.2. Assumptions and Key Parameters
5.3. Methodology
5.4. Technology Competitiveness Analysis: Process Analytical Technologies
5.5. Technology Competitiveness Analysis: Data Analysis Software
5.6. Technology Competitiveness Analysis: Manufacturing Execution Systems
5.7. Technology Competitiveness Analysis: Digital Twins
6. COMPANY PROFILES
6.1. Chapter Overview
6.2. AspenTech
6.2.1. Company Overview
6.2.2. Financial Information
6.2.3. Technology Portfolio
6.2.4. Recent Developments and Future Outlook
6.3. FUJIFILM Diosynth Biotechnologies
6.3.1. Company Overview
6.3.2. Financial Information
6.3.3. Technology Portfolio
6.3.4. Recent Developments and Future Outlook
6.4. Merck
6.4.1. Company Overview
6.4.2. Financial Information
6.4.3. Technology Portfolio
6.4.4. Recent Developments and Future Outlook
6.5. Thermo Fisher Scientific
6.5.1. Company Overview
6.5.2. Financial Information
6.5.3. Technology Portfolio
6.5.4. Recent Developments and Future Outlook
6.6. Bioreactors.net
6.6.1. Company Overview
6.6.2. Technology Portfolio
6.6.3. Recent Developments and Future Outlook
6.7. Sartorius
6.7.1. Company Overview
6.7.2. Financial Information
6.7.3. Technology Portfolio
6.7.4. Recent Developments and Future Outlook
6.8. Dassault Systemes
6.8.1. Company Overview
6.8.2. Financial Information
6.8.3. Area(s) of Application
6.8.4. Recent Developments and Future Outlook
6.9. GE Healthcare
6.9.1. Company Overview
6.9.2. Technology Portfolio
6.9.3. Recent Developments and Future Outlook
6.10. Korber
6.10.1. Company Overview
6.10.2. Financial Information
6.10.3. Technology Portfolio
6.10.4. Recent Developments and Future Outlook
7. BENCHMARKING ANALYSIS
8. PARTNERSHIPS AND COLLABORATIONS
9. MARKET CONCENTRATION ANALYSIS
10. INDUSTRY LIFECYCLE ANALYSIS
11. MARKET FORECAST AND OPPORTUNITY ANALYSIS
12. CONCLUDING REMARKS
13. INTERVIEW TRANSCRIPTS
14. APPENDIX I: TABULATED DATA
15. APPENDIX II: LIST OF COMPANIES AND ORGANIZATIONS
For more information about this report visit https://www.researchandmarkets.com/r/k9mg7p
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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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