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Global Hyper Automation Market Revenue is expected to be US$ 155 Billion by the end of 2023; Market.us

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New York, May 16, 2023 (GLOBE NEWSWIRE) — The hyper-automation market size is projected to surpass around US$ 155 Billion by 2032, and it is poised to reach a CAGR of 16.3% from 2023 to 2032. The global hyper-automation market size accounted for US$ 36 Billion in 2022.

Hyper automation refers to the combination of two or more technologies, such as predictive analysis, robotic process automation, and artificial intelligence. Moreover, automation is utilized in simplifying the workflow as well as increasing the efficiency of the manufacturing process with less human interference.

hyper-automation market

To get additional highlights on major revenue-generating segments, Request a Hyper-Automation Market sample report at https://market.us/report/hyper-automation-market/request-sample/

Key Takeaway:

  • By Component in 2022, the hardware segment dominated the market with the largest revenue share of 52% in 2022.
  • By Technology, the robotic process automation segment held the largest market share of 24% in 2022 and is expected to grow at a significant rate from 2023 to 2032.
  • By Function, finance & accounting held the largest revenue share in 2022.
  • By End-User in 2022, the IT & telecom dominated the market with significant revenue share.
  • In 2022, North America dominated the market with the highest revenue share of 37%.
  • Asia-Pacific will grow at a significant revenue share of 22.6% from 2023-2032.

The market growth of hyper-automation can be attributed to the increasing adoption of automated manufacturing processes among various industries. In addition, the rapid rise in digital transformation with sophisticated methodologies is also fueling market growth.

Factors affecting the growth of the hyper-automation market

There are several factors that can affect the growth of the hyper-automation market. Some of these factors include:

  • Rising demand for robotic process automation technology: The surge in demand for RPA technology worldwide is expected to fuel the market growth for hyper-automation.
  • Increasing demand for automation in the construction industry: The market growth can be attributed to the increasing demand for automation in the construction industry as it helps enterprises to expose safety violations so that it should not become a liability or an accident.
  • Increased return on investments: The hyper automation provides access to improving analytics data, and thus the enterprise would ensure that they deliver a return on investment on time and with high accuracy, thereby driving the market growth.
  • Lack of skilled manpower: The market growth is expected to be hampered by the lack of skill and lack of training for individuals in various industries.

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Top Trends in Global Hyper Automation Market

The increased return on investment aids in analyzing the marketing efforts, such as how they impact improving as well as achieving positive results. Moreover, the hyper-automation offers access to improving analytics data, and thus the enterprise would ensure that they deliver a return on investment with high accuracy and on time. This is the mostly the major goal of every organization. Thus owing to the improved analytics for return on investment, the market is expected to grow exponentially.

Market Growth

The market growth of hyper-automation is mainly influenced by several factors such as growing digitalization, reduced operational cost, improved efficiency, and increasing demand for automation in manufacturing processes. However, the issues related to cloud security and network transmission are expected to hamper the market growth.

Regional Analysis

North America accounted for the highest revenue share in 2022. The various industries in this region are implementing hyper-automation in order to create a more resilient supply chain, which in turn, drives the growth of the regional market. In addition, the market growth of this region can be attributed to the rising demand for increased efficiency & lower business operational costs, as well as rapid digitization penetration. The Asia Pacific region is anticipated to witness the fastest CAGR during the forecast period. Emerging countries such as China, India, and Japan are investing heavily in IT infrastructure and developing new data centers in order to maintain the ever-increasing data volumes in their respective regions.

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Scope of Report

Report Attribute Details
Market Value (2022) USD 36 Billion
Market Size (2032) USD 155 Billion
CAGR (from 2023 to 2032) 16.3%
North America Revenue Share 37%
Asia-Pacific Revenue Share 22.6%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

In the present scenario, the adoption of cloud-based technologies has increased significantly worldwide. In the global information and communication technology industry, cloud-based deployment software is likely to hold the majority of the share. The hyper-automation has led to an exponential increase in data generation due to the integration of AI, RPA, and ML in the enterprise workflow. Companies are increasingly investing in cloud technology with the rising need to effectively operate IT resources and efficiency of data storage. Furthermore, the focus on maintenance costs and reducing data storage is resulting in the rising adoption of cloud-based technologies, thereby driving the global hyper-automation market growth.

Market Restraints

Hyper automation heavily relies on cloud-based services to reduce the overall cost. It is susceptible to service impairment, data leakage, and service loss, including service interruption, and monetary loss in worse cases. To operate efficiently, hyper-automation requires strong network and communication services. In regions such as Latin America, the Middle East & Africa, and Asia Pacific, the average network is not compatible with adopting hyper-automation in SMEs. As a result, the security risks and limited quality of network communication service are expected to hamper the market growth.

Market Opportunities

Technology is evolving, and every single sector is looking to update itself with the development of technology. The hyper-automation aids to ensure that the onsite workers are in precise pedestrian walking lanes and also ensures the security of safety equipment. In addition, construction safety hyper-automation aids enterprises in exposing safety violations so that they should not become liabilities or accidents. It also provides real-time data on job site behavior so that adjustments can be made. Companies are increasingly investing in cloud technology with the rising need to effectively operate IT resources and efficiency of data storage.

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Report Segmentation of the Hyper Automation Market

Component Insight

The hardware segment accounted for the largest revenue share in 2022. Automation hardware in industries offers the benefits of increased quality and efficiency while minimizing errors in the manufacturing process, owing to the expandability, mobility, and adaptability of automation solutions. In addition, the hardware segment includes maintenance of machinery & equipment and controlled power delivery installation. The software segment is accounted as the fastest expanding segment during the forecast period. Automation software supports businesses to increase their efficiency through the development of solutions that aid in repetitive administrative activities as well as data processing.

Technology Insight

Robotic process automation dominated the market with the largest revenue share in 2022. Multinational firms mostly opt for corporate data centers with superior data security, thereby propelling segment growth. Moreover, owing to the rise of complex business tools such as data analytics, companies are in high requirement of storing huge volumes of daily data.

Function Insight

The finance & accounting held the largest revenue share in 2022. The growing need to improve cooperation, reduce errors, and enhance overall productivity by automating, standardizing, and integrating hyper-automation technology in payroll administration, financial analysis, collection, invoicing, and financial statement preparation is positively driving the segment’s growth. The marketing & sales segment is anticipated to witness the fastest growth rate during the forecast period as the marketing firms are highly relying on automation to provide better leads to sales teams, improve campaign accuracy, and a higher rate of interest, thereby driving the segment growth.

End-User Insight

The IT & telecom dominated the market with a significant revenue share in 2022. Integrating robotic process automation (RPA) supports telecom companies in simplification of operational tasks as well as also generating long-term revenue streams by offering high-quality, quick, and affordable services. The retail segment is anticipated to witness a significant growth rate during the forecast period. The automation in retail aids to keep track of inventory helps to reduce the delivery time, and eases out the workload of store managers, thereby fueling the market growth.

For more insights on the historical and Forecast market data from 2016 to 2032 – download a sample report at https://market.us/report/hyper-automation-market/request-sample/

Market Segmentation

By Component

  • Hardware
  • Software
  • Services

By Technology

  • Robotic Process Automation (RPA)
  • Biometrics
  • Natural Learning Generation
  • Context-Aware Computing
  • Chatbots
  • Machine Learning
  • Other Technologies

By Function

  • Marketing & Sales
  • Human Resources (HR)
  • Operations & Supply Chain
  • Finance & Accounting

Information Technology (IT)

By End-User

  • BFSI
  • IT & Telecom
  • Retail
  • Education
  • Manufacturing
  • Automotive
  • Healthcare & Life Science
  • Other End-Users

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Competitive Landscape

The competitive landscape of the market has also been examined in this report. Major market players are market are concentrating on implementing various growth strategies to expand their businesses in the foreign market. Moreover, they are involved in collaborations, partnerships, mergers & acquisitions, competitive pricing, and new product launch.

Market Key Players:

  • ALTERYX, INC.
  • SolveXia
  • Mitsubishi Electric Corporation
  • Catalytic Company
  • Automation Anywhere, Inc.
  • Tata Consultancy Services Ltd.
  • Wipro Ltd.
  • Honeywell International Inc.
  • OneGlobe LLC
  • Allerin Tech Pvt. Ltd.
  • Other key Players

Recent Development of the Hyper Automation Market

  • In September 2022, the UiPath (an enterprise automation software developer) announced its alliance with OutSystems, a global player in high-performance application development. Together, they are expected to offer clients with the ability to securely and intelligently automate the key business processes as well as applications, resulting in increased productivity, time savings, and transformative app experiences.
  • In May 2022, the establishment of an exclusive agreement for Europe was announced by Visa, a global player in digital payments, and Phrase, a player in brand language optimization.

Browse More Related Reports:

  • Industrial Automation Market size is expected to be worth around USD 493 Billion by 2032 from USD 212.6 Billion in 2023, growing at a CAGR of 9.0% during the forecast period from 2022 to 2032.
  • Robotic Process Automation Market was worth USD 18,846 million in 2022. It is expected to grow at a compound annual rate (CAGR of 39.8%) between 2023 and 2032.
  • Accounts Payable Automation Market is projected to be USD 195.3 Mn in 2021, reaching USD 558.8 Mn by 2031 at a CAGR of 11.3%.
  • Chatbot Market size was valued at USD 4.92 billion in 2022 and is expected to reach USD 42 billion by 2032 with a CAGR of 23.91%

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Artificial Intelligence

Free Your Hands, QIDI Vida Smart AR Glasses Lead the Way in New Sports Experience.

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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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Risk Analytics Market worth $180.9 billion by 2029 – Exclusive Report by MarketsandMarkets™

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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
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=210662258
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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Procurement Analytics Market- Global Forecast to 2026
About MarketsandMarkets™
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MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
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Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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Robotic Palletizer Market worth $1.9 billion by 2029 – Exclusive Report by MarketsandMarkets™

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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.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=251064253
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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