Artificial Intelligence
Global Robot Software Market to Generate USD 45.5 Billion by 2030, States a New Report by Next Move Strategy Consulting
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New York, May 23, 2023 (GLOBE NEWSWIRE) — According to a report published by Next Move Strategy Consulting, the global Robot Software Market generated USD 7.8 billion in 2022, and is projected to reach USD 45.5 billion by 2030, at a CAGR of 23.9% from 2023 to 2030.
The research offers a detailed analysis of the drivers, restraints, and opportunities of the market to understand the changing market dynamics. Moreover, the research provides an extensive analysis of major segments and their sub-segments to identify the fastest-growing and highest revenue-generating segments.
Equipping the extensive analysis of each and every aspect of the market in 419 pages, accompanied by 337 tables and 359 figures, the report aims to become a source of guidance for market players, investors, and startups to determine the strategies for the next few years and achieve sustainable growth.
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| Report Coverage | Details |
| Forecast Period | 2023–2030 |
| Base Year | 2022 |
| Market Size in 2022 | USD 7.8 Billion |
| Market Size in 2030 | USD 45.5 Billion |
| CAGR | 23.9% |
| No. of Pages | 419 |
| Tables | 337 |
| Figures | 359 |
| Segments Covered | Robot Type, Software Type, Deployment, Organization Size, End User and Region |
| Drivers | Introduction of industry 4.0, which leverages technologies such as the Internet of Things (IoT) and automation |
| The rapid advancement of AI technology, combined with its integration across various industries | |
| Opportunities | Development of intuitive and user-friendly programming interfaces that enable individuals with limited technical expertise to easily operate and program robots, expanding the accessibility and adoption of robotic automation in diverse industries. |
The report identifies driving factors, restraining factors, and opportunities in the market. The introduction of industry 4.0, which leverages technologies such as the Internet of Things (IoT) and automation, has emerged as a crucial driver for the robot software market.
The incorporation of IoT enables interconnected devices and machines to communicate and share data in real-time, fostering a networked ecosystem. This connectivity provides robots with access to a vast amount of data, enabling them to make intelligent decisions, optimize workflows, and enhance overall efficiency. The ability to gather and analyze data from various sources allows for predictive maintenance, improved resource allocation, and optimized production schedules.
Moreover, automation plays a pivotal role in industry 4.0 by streamlining operations, reducing human intervention, and enhancing precision. Robots equipped with advanced software systems can automate repetitive and labor-intensive tasks, leading to increased productivity, higher output quality, and improved workplace safety. The integration of automation technologies with robot software empowers businesses to achieve higher levels of operational efficiency, reduce costs, and remain competitive in the global market.
However, potential for cybersecurity risks and vulnerabilities restraints the growth of robot software market. As robots become increasingly interconnected and reliant on software systems, they also become potential targets for cyber-attacks.
Identifying the opportunities that leading players can leverage to increase their market share, Next Move Strategy Consulting’s Lead Analyst stated, “The integration of Edge Computing enables data processing and analysis at the edge of a network, empowering robots to make real-time decisions and perform tasks without depending solely on cloud-based infrastructure. This significantly reduces latency and enhances responsiveness, making it an ideal solution for applications that require immediate decision-making and action.”
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Based on region, North America accounted for the highest share in 2022 and is expected to remain dominant throughout the forecast period. This is attributed to the region’s robust technological infrastructure, strong presence of key industry players, and high adoption rate of automation and AI technologies. The introduction of Industry 4.0, which leverages technologies such as the Internet of Things (IoT) and automation, has significantly contributed to the growth of the robot software market in North America. The region has witnessed a rapid advancement of AI technology, combined with its integration across various industries, leading to increased efficiency, productivity, and cost savings. Moreover, favorable government initiatives and investments in research and development further propel the market growth in this region.
On the other hand, Asia Pacific is estimated to witness substantial growth during the forecast period, primarily driven by factors such as the region’s expanding manufacturing sector, rising investments in automation, and the increasing adoption of AI-powered technologies. The region is home to several emerging economies, including China, India, and South Korea, which have witnessed significant industrial development and are investing heavily in advanced technologies. Additionally, the region’s large population and rising disposable income levels are driving the demand for consumer electronics and automotive industries, creating opportunities for the implementation of robotics and automation solutions.
Asia Pacific’s favorable government policies and initiatives supporting technological advancements, coupled with the presence of a skilled workforce, further contribute to the market growth. Moreover, the region’s growing focus on research and development, collaborations between industry players and academic institutions, and increasing investments in AI research are expected to fuel the adoption of robot software solutions in various sectors, including manufacturing, healthcare, and logistics.
The study analyzes each region and its countries by segments and their sub-segments to outline the steps to be taken to consolidate their presence in the Robot Software market. Furthermore, this analysis helps determine the fastest-growing segments and the highest revenue-generating segments to take the next step accordingly.
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The report offers an extensive analysis of the competitive landscape of the global Robot Software market. Some of the major market players in the market are IBM, NVIDIA, ABB Ltd., FANUC, Teradyne Inc, H2O.ai, Brain Corp, CloudMinds, Clearpath Robotics, Neurala Inc. and among Others.
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About Us:
Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider committed to delivering high-quality market research reports that help multinational companies triumph over their competition and increase their industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining, and data analytics.
We have been servicing over 1000 customers globally, including 90% of Fortune 500 companies over a decade. Our analysts constantly track various high-growth markets and identify hidden opportunities in each sector or industry. We provide one of the industry’s best-quality syndicate as well as custom research reports across ten different industry verticals. We are committed to delivering high-quality research solutions per your business needs. Our industry-standard delivery solutions range from pre-consultation to after-sales services, provide an excellent client experience and ensure the right strategic decision-making for businesses.
Artificial Intelligence
ITC Infotech to acquire specialised Cloud services company Blazeclan Technologies Private Limited, to augment its Multi-Cloud capabilities and accelerate Customers’ Digital Transformation Journey
The acquisition will enable ITC Infotech to build a strategic cloud asset with a focus on the Hyperscaler Partner eco-system to ramp up future growth
PARAMUS, N.J. and LONDON and BANGALORE, India, April 18, 2024 /PRNewswire/ — ITC Infotech, a leading global technology services and solutions provider, announced today the signing of a definitive agreement to acquire 100% shareholding of Blazeclan Technologies Private Limited (Blazeclan) – a born-in-the-cloud consulting company providing Cloud services on AWS, Azure and GCP. The acquisition reiterates ITC Infotech’s commitment to help clients steer their digital transformation journey and deliver business outcomes built on the foundation of strong Cloud capabilities.
Headquartered in Pune, India, Blazeclan is an AWS Premier Partner, Snowflake Elite Partner and a leader in providing Cloud transformation solutions to customers globally with strong expertise in Cloud Migration, Digital Services, Digital Cloud Consulting and Data Analytics & Insights. Leveraging its powerful platforms, frameworks and accelerators, Blazeclan helps drive on-demand and sustainable cloud adoption for its clients. Blazeclan’s broad suite of services and disruptive building blocks help speed up digital transformation by modernizing the infrastructure with native cloud services and migration accelerators. Blazeclan has been recognized as a Niche Player in the 2023 Gartner® Magic Quadrant for Public Cloud IT Transformation Services.
This acquisition will augment ITC Infotech’s capabilities to service its customers in a multi-cloud and hybrid cloud environment with a focus on the Partner eco-system to accelerate future growth. ITC Infotech proposes to leverage the platforms and accelerators built by Blazeclan and the strong certified architect pool to strengthen its cloud offerings. This move is aligned with the Company’s strategy of pursuing value accretive investments focused on sharpening capability-led solutions while strengthening partnerships which form critical pillars of growth for ITC Infotech. With this agreement, ITC Infotech intends to further deepen its global presence through Cloud Competency Centres in Australia, Singapore, Malaysia, and India.
Sudip Singh, Managing Director and Chief Executive Officer of ITC Infotech, said, “In an evolving ecosystem, enterprises today need to leverage their Cloud investments to stay ahead of the curve and deliver higher value to their customers. With the proposed acquisition of Blazeclan, we believe that we will be strongly positioned to step up our clients’ digital transformation journey. This acquisition will not only strengthen our capabilities significantly but will enable us to make scalable progress in the cloud space, while providing access to key opportunities to unlock larger business value for our customers.”
Varoon Rajani, Founder & Chief Executive Officer of Blazeclan said, “I am thrilled to announce the next chapter for Blazeclan as we join the ITC Infotech family. Our shared commitment to people-centric values, customer obsession, and global excellence align seamlessly. With ITC Infotech’s rich technical expertise, we are poised to elevate our capabilities and better serve our customers. Blazeclan’s expertise in cloud and modernization combined with ITC Infotech’s strengths creates a winning formula. This partnership promises excitement and growth for both organizations, our valued partners, customers and dedicated employees. Together, we are embarking on a journey of innovation, growth, and mature enterprise solutions.”
This acquisition is expected to close in 6 to 8 weeks, subject to customary closing conditions.
About ITC Infotech:
ITC Infotech is a leading global technology services and solutions provider, led by Business and Technology Consulting. ITC Infotech provides business-friendly solutions to help clients succeed and be future-ready, by seamlessly bringing together digital expertise, strong industry specific alliances and the unique ability to leverage deep domain expertise from ITC Group businesses. The company provides technology solutions and services to enterprises across industries such as Banking & Financial Services, Healthcare, Manufacturing, Consumer Goods, Travel and Hospitality, through a combination of traditional and newer business models, as a long-term sustainable partner. ITC Infotech is a wholly-owned subsidiary of ITC Limited, one of India’s leading private sector companies and a diversified conglomerate with businesses spanning Consumer Goods, Hotels, Paperboards and Packaging and Agri Business. For more information, please visit: http://www.itcinfotech.com/
About Blazeclan:
Blazeclan is amongst the world’s leading providers of cloud services with a history of leading enterprises to unlock the value of cloud computing. Established in 2010, the company has been empowering customers across the globe with cloud advisory services, cloud migration, DevOps and Automation, Big Data and Analytics, Cloud Native Application development, and cloud managed services.
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Advanced technology and support to enable the development of GenAI solutions
BARCELONA, Spain, April 18, 2024 /PRNewswire/ — Veeva Systems (NYSE: VEEV) today announced the Veeva AI Partner Program to provide partners with the advanced technology and support needed to integrate Generative AI (GenAI) solutions seamlessly with Veeva Vault applications.
“Our customers are exploring GenAI solutions across many use cases as the technology evolves,” said Tom Schwenger, Veeva president and chief customer officer. “The Veeva AI Partner Program provides access to critical technology to help partners develop GenAI solutions that integrate seamlessly with Veeva applications.”
The Veeva AI Partner Program includes:
Vault Direct Data API training and support to build expertise in leveraging Veeva Vault Platform’s unique, high-speed API. This new class of API makes Vault data accessible to applications up to 100 times faster than traditional APIs and is transactionally sound and consistent across large datasets. Vault Application Sandbox to develop, test, and support partner applications integrated with Veeva Vault applications.The Veeva AI Partner Program is part of Veeva’s focused strategy to enable AI for the life sciences industry. The Vault Direct Data API and AI Partner Program enable customers and partners to more easily build AI applications that integrate seamlessly with Vault applications.
Companies can learn more about the Veeva AI Partner Program at veeva.com/AIPartnerProgram.
About Veeva SystemsVeeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world’s largest biopharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com/eu.
Veeva Forward-looking StatementsThis release contains forward-looking statements regarding Veeva’s products and services and the expected results or benefits from use of our products and services. These statements are based on our current expectations. Actual results could differ materially from those provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10-K for the fiscal year ended January 31, 2024, which you can find here (a summary of risks which may impact our business can be found on pages 9 and 10), and in our subsequent SEC filings, which you can access at sec.gov.
Contact:
Meera Lakhani-PatelVeeva [email protected]
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Artificial Intelligence
Altair Acquires Cambridge Semantics, Powering Next-Generation Enterprise Data Fabrics and Generative AI
Acquisition expands Altair’s data analytics and AI offerings
TROY, Mich., April 18, 2024 /PRNewswire/ — Altair (Nasdaq: ALTR) a global leader in computational intelligence, acquired Cambridge Semantics, a modern data fabric provider and creator of one of the industry’s leading analytical graph databases. Cambridge Semantics’ graph-powered data fabric technology accelerates the creation of comprehensive enterprise knowledge graphs, integrating the complex web of structured and unstructured enterprise data together into a single, simplified view.
Bringing together Cambridge Semantics’ transformational knowledge graph technology with Altair’s leading tools for data analytics and data science offers organizations a solid foundation for building advanced analytics ecosystems that inject artificial intelligence (AI) into day-to-day business operations.
“Knowledge graphs are key pieces of data fabrics. They put the right data in the right hands at the right time. We believe Cambridge Semantics brings the fastest and most scalable knowledge graphs to organizations who have significant data volumes and deep questions,” said James R. Scapa, founder and chief executive officer, Altair. “Additionally, knowledge graphs are critical for successful generative AI applications as they provide the business context necessary to ground generative AI models, eliminate hallucinations, and dramatically improve response quality.”
Cambridge Semantics’ technologies will be integrated into the Altair® RapidMiner® platform, adding knowledge graph, data governance, data virtualization, and data discovery technology to the platform’s existing data preparation, ETL, data science, business intelligence, MLOps, workload management, and orchestration tools.
“Joining Altair is a natural transition for Cambridge Semantics as we seek to accelerate the pace of our technology adoption,” said Charles Pieper, chairman and chief executive officer, Cambridge Semantics. “Cambridge Semantics has historically been successful with Fortune 500 government, defense, life science and manufacturing organizations. Bringing Cambridge Semantics to Altair’s broad customer base through the Altair Units business model – and integrating it into Altair RapidMiner – is an exciting prospect for us and for our customers.”
Cambridge Semantics was founded in 2007 by an innovation and engineering team from IBM’s Advanced Technology Group with a shared belief that semantic graph data models were a transformational technology destined to help organizations exploit their data in unprecedented ways: fueling analytics, revealing new insights, and enabling strategically important, competitive differentiation. Its technical team was fundamental to the development of data warehouses IBM Netezza and Amazon Redshift and represents one of the largest single collections of knowledge graph experts in the world.
“This acquisition adds deep data warehousing expertise to our already strong analytics and data science team, creating an enhanced core group of engineers that understand the entire data lifecycle – from data creation to real impact,” said Srikanth Mahalingam, chief technology officer, Altair. “We are all excited about where this combined team and technology will take us.”
For more information about Altair RapidMiner, visit https://altair.com/altair-rapidminer.
About AltairAltair is a global leader in computational intelligence that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future. To learn more, please visit www.altair.com.
Media contacts
Altair Corporate
Altair Investor Relations
Bridget Hagan
Monica Gould, The Blueshirt Group
+1.216.769.2658
+1 212.871.3927
[email protected]
[email protected]
Altair Europe/The Middle East/Africa
Charlotte Hartmann
+49 7031 6208 0
[email protected]
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