Artificial Intelligence
Collaborative Robots Market to Be Worth $2.9 Billion by 2031 – Exclusive Report by Meticulous Research®
REDDING, Calif., Aug. 8, 2024 /PRNewswire/ — According to a new market research report titled, ‘Collaborative Robots Market by Type, Component (Hardware, Software), Payload, Application (Material handling, Welding & Soldering, Assembling and Disassembling), and End-use Industry (Oil & Gas, Automotive, Food & Beverage, Others) – Forecast to 2031, the collaborative robots market is projected to reach $2.9 billion by 2031, at a CAGR of 8.7% during the forecast period.
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The growth of this market is driven by innovations in human-machine interface, government programs to promote industrial automation, and easy and cost-effective programming. Furthermore, the rising need for collaborative robots in the e-commerce and logistics sectors, expansion into different non-manufacturing applications of collaborative robots, and decreasing prices are expected to create market growth opportunities during the forecast period.
However, the lack of proper training and skill and lack of capabilities related to faster cycle time and repeatability restrains the growth of this market. Also, the need for fine dexterity in collaborative robots and safety and security issues are major challenges for the players in this market. Furthermore, the advancements in artificial intelligence and industry 4.0 systems and collaborative robots with integrated vision systems are key trends in the collaborative robots market.
The collaborative robots market is segmented based on type {power and force limiting collaborative robots, safety monitored stop collaborative robots, speed and separation collaborative robots, and hand guiding collaborative robots}, component {hardware (robotic arm, end of arm tooling (EOAT) devices [welding torches, grippers, vacuum cups, clamps, tool changers, vision systems, feeder systems, and other EOAT devices], drives, controllers, and sensors) and software}, payload {up to 5 Kg payload, 5 Kg to 10 Kg payload, and more than 10 Kg payload} application {material handling (palletizing & depalletizing, stacker, grain elevating, and bucket elevating), welding & soldering (resistance spot welding, arc welding, laser welding, plasma welding, ultrasonic welding, and other welding applications), assembling and disassembling, machine tending (grinding, drilling, milling and turning, injection molding, and other applications), dispensing, processing, inspection (laser inspection, dimensional checks, vision systems, flow tests, and leak tests), and other applications}, end-use industry {automotive and transportation, electrical & electronics, metal & machinery, plastic & chemicals, oil & gas, food & beverage, aerospace & defense, biotechnology, healthcare, and other end-use industries}, and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
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Based on type, the collaborative robots market is segmented into power and force limiting collaborative robots, safety monitored stop collaborative robots, speed and separation collaborative robots, and hand guiding collaborative robots. The speed and separation collaborative robots segment is expected to account for the largest share of the market in 2024. This large market share is mainly attributed to its main functions, such as advanced vision systems, safeguarding the operator in collaborative robot applications by maintaining a certain minimum separation distance during operation, and utilizing a traditional industrial robot combined with various safety sensors to detect when a human enters the robot’s work envelope.
Based on component, the collaborative robots market is segmented into hardware and software. The hardware segment is sub-segmented into robotic arms, end of arm tooling (EOAT) devices, drives, controllers, and sensors. The hardware segment is expected to account for the largest share of around 62.0% of the market in 2024. This large market share is attributed to the increasing demand for collaborative robots for various applications, and advancements in the hardware components such as EOAT, tool changers, vision systems, motors, controllers, and power supply have led to improved accuracy, efficiency, and payload capacity of collaborative robots.
Based on payload, the collaborative robots market is segmented into up to 5 Kg payload, 5 Kg to 10 Kg payload, and more than 10 Kg payload. The 5 Kg to 10 Kg payload segment is expected to account for the largest share of the market in 2024. The large market share is mainly attributed to the fact that these payload collaborative robots are equipped with a built-in force-torque sensor to ensure the safety of the workers and are designed to perform medium-duty applications with ultimate flexibility.
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Based on application, the collaborative robots market is segmented into material handling, welding & soldering, assembling & disassembling, machine tending, dispensing, processing, inspection, and other applications. The material handling segment is expected to account for the largest share of the market in 2024. The large market share is mainly attributed to factors such as increasing production efficiency, high speed and accuracy of operations, low maintenance cost, speed and strength of material handling, and compact design of robots. Furthermore, material handling is a major application in various end-use industries such as automotive, electronics, metals, and machinery.
Based on end-use industry, the collaborative robots market is segmented into automotive and transportation, electrical & electronics, metal & machinery, plastic & chemicals, oil & gas, food & beverage, aerospace & defense, biotechnology, healthcare, and other end-use industries. The automotive and transportation segment is expected to account for the largest share of around 22% of the market in 2024. The large market share is mainly attributed to the benefits offered by collaborative robots in the automotive industry, such as cost-effectiveness, higher efficiency, safety, and speed & precision. Also, using collaborative robots allows car and automotive component makers to accelerate production, reduce costs, improve quality, and ensure workers’ safety.
Based on geography, the collaborative robots market is segmented into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of around 54% of the Market, followed by Europe, North America, Latin America, and the Middle East & Africa. The large share of this regional market is attributed to the presence of large-scale manufacturing industries in the region, especially in the automotive, electronics, and metal and machinery sectors. Further, the demand for collaborative robots has significantly increased due to the growing need for automation in diverse industries such as food and beverages and healthcare. Also, the declining cost of collaborative robots and a shortage of skilled labor are contributing to the growth of the region.
Key Players:
The key players operating in the collaborative robots market are Universal Robots A/S (Denmark), Rethink Robots GmbH (Germany), ABB Ltd (Switzerland), Fanuc Corporation (Japan), KUKA AG (Germany), Yaskawa Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Robert Bosch Manufacturing Solutions GmbH (Germany), Stäubli International AG (Switzerland), F&P Robotics AG (Switzerland), Techman Robot Inc. (Taiwan), Precise Automation Inc. (Taiwan), Doosan Robotics Inc. (South Korea), MABI Robotic AG (Switzerland), Energid Technologies Corporation (U.S.), AUBO Robotics USA (U.S.), and TechMan Robot Inc. (Taiwan).
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Scope of the Report:
Collaborative Robots Market Assessment—by Type
Power and Force Limiting Collaborative RobotsSafety Monitored Stop Collaborative RobotsSpeed and Separation Collaborative RobotsHand Guiding Collaborative RobotsCollaborative Robots Market Assessment—by Component
HardwareRobotic ArmsEnd of Arm Tooling (EOAT) DevicesWelding TorchesGrippersVacuum CupsClampsTool ChangersVision SystemsFeeder SystemsOther EOAT DevicesDrivesControllersSensorsSoftwareCollaborative Robots Market Assessment—by Payload
Up to 5 Kg Payload5 Kg to 10 Kg PayloadMore than 10 Kg PayloadCollaborative Robots Market Assessment—by Application
Material HandlingPalletizing & DepalletizingStackingGrain ElevatingBucket ElevatingWelding & SolderingResistance Spot WeldingArc WeldingLaser WeldingPlasma WeldingUltrasonic WeldingOther Welding ApplicationsAssembling and DisassemblingMachine TendingGrindingDrillingMilling and TurningInjection MoldingOther ApplicationsDispensingProcessingInspectionLaser InspectionDimensional ChecksVision SystemsFlow TestsLeak TestsOther ApplicationsCollaborative Robots Market Assessment—by End-use Industry
Automotive and TransportationElectrical & ElectronicsMetal & MachineryPlastic & ChemicalsOil & GasFood & BeverageAerospace & DefenseBiotechnologyHealthcareOther End-use IndustriesCollaborative Robots Market Assessment—by Geography
North AmericaU.S.CanadaAsia-PacificChinaJapanIndiaSouth KoreaRest of Asia-PacificEuropeGermanyU.K.FranceItalySpainRest of EuropeLatin AmericaMiddle East & AfricaUnlock Opportunities: Buy Now- https://www.meticulousresearch.com/Checkout/62547706
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About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
Contact:Mr. Khushal BombeMeticulous Market Research Inc.1267 Willis St, Ste 200 Redding,California, 96001, U.S.USA: +1-646-781-8004Europe: +44-203-868-8738APAC: +91 744-7780008Email- [email protected] Visit Our Website: https://www.meticulousresearch.com/Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-researchContent Source: https://www.meticulousresearch.com/pressrelease/134/collaborative-robots-market-2031
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LAS VEGAS, Sept. 15, 2024 /PRNewswire/ — Olight, a brand committed to becoming a global leader in mid-to-high-end flashlights, opened the world’s first flashlight experience store at Fashion Show Las Vegas. On the same day, it hosted a major new product launch event and a fan festival for its loyal customers.
A Retail Revolution
The store adopts an advanced digital retail model that seamlessly integrates online and offline channels. Leveraging cloud computing, big data, IoT, and other cutting-edge technologies, Olight has created a unified system for warehousing, logistics, supply chain management, and retail. This enhances operational efficiency and allows consumers to order online and pick up in-store, offering a more convenient and efficient shopping experience.
“Olight has consistently focused on the U.S. market and achieved outstanding results online. We want our first experience store to not only showcase our products but also serve as a bridge between the online and offline, connecting our brand with our customers,” said Mavis Xiao, CMO of Olight.
New Product Launches
Olight unveiled five new products at the event: Arkfeld Ultra, Baton Turbo, Perun 3, Sphere, and the Arkfeld Pro (Paw Edition). The Arkfeld Ultra uses a new aluminum material, making it one of the toughest and most scratch-resistant flashlights in the world. Olight also used this material to create a special gift for each audience member.
With the release of the Arkfeld Pro (Paw Edition), Olight announced an animal charity project in 13 countries, dedicated to supporting animal welfare for at least two years. For every Arkfeld Pro (Paw Edition) sold, Olight will donate $5 to local animal charities. This initiative aims to raise funds for animal protection and increase social awareness and action.
O-Fan Day: Celebrating the Community
O-Fan Day was a fan festival where Olight expressed its appreciation to the O-Fans, whom Olight believes are the driving force behind the brand’s growth. Olight held a fan award ceremony to recognize fans who have made outstanding contributions to supporting and promoting the brand. Over 200 O-Fans attended the festival, celebrating with Olight’s management, R&D teams, and more.
The Olight Fall Event 2024 was the brand’s most important event of the year. As a brand dedicated to establishing itself as a global leader in flashlights, Olight is bold in breaking the mold. This Fall Event demonstrated Olight’s determination to redefine the flashlight industry through innovation and to promote the development of the entire industry.
About Olight:
Olight is committed to becoming a global leader in mid-to-high-end flashlights and driving the industry forward. Its diverse product range caters to various scenarios, from everyday carry to outdoor adventures, and is available across Europe, the Americas, and beyond.
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Artificial Intelligence
Global AI Summit Calls for Global Action to Guarantee AI Innovation is for the “Good of Humanity”
RIYADH, Saudi Arabia, Sept. 14, 2024 /PRNewswire/ — The Global AI Summit (GAIN) in Riyadh concluded on a high, after the summit welcomed more than 30,000 delegates from across the globe over three days. The live stream of the summit, organized by the Saudi Data and AI Authority (SDAIA), received 3.7m views.
Building on the success of previous editions, GAIN 2024 featured more than 450 speakers from 100 countries, participating in 150 sessions. It also witnessed over 25 launches and announcements, and facilitated the signing of over 80 agreements and Memoranda of Understanding (MoUs).
The summit has grown exponentially since its inception in 2020. Its growing prominence reflects the Kingdom of Saudi Arabia’s role in advancing AI capabilities as it positions itself as a global leader in this space.
The key output from the summit was the need for governments and policy makers to take global action to ensure that AI technology evolves for the good of humanity. Central to responsible evolution is an ethical framework and robust governance.
To support the advancement of AI ethics and governance, SDAIA announced the Riyadh Charter of Artificial Intelligence for the Islamic World in collaboration with the Islamic World Educational, Scientific, and Cultural Organization (ICESCO). This promotes ethical AI grounded in Islamic values and principles, as well as sustainable development through international cooperation.
SDAIA has played a pivotal role in forging key collaborations to strengthen local and regional AI solutions, signing MoUs with Microsoft Arabia to develop Arabic language models, IBM for a Center of Excellence in Generative AI technologies, and NVIDIA to scale AI infrastructure across the Kingdom.
The summit also marked several major milestones. Alongside the unveiling of ALLaM, the world’s most advanced Arabic Language Model, other diverse initiatives such as the Global AI Community, the THAKAI Platform, and guidelines for addressing deepfake technology.
Furthermore, the launch of the Generative AI Center of Excellence by the Digital Cooperation Organization (DCO), the agreement to open an International Center for AI Research and Ethics (ICAIRE) as a UNESCO Category 2 Center, further underscored the impact of GAIN 2024.
The summit itself provided the platform for companies from all over the world to showcase the latest AI technologies and innovations, including AI generated avatars, AI generated artwork, and even Robotic bar staff serving beverages.
The summit closed with an inspirational speech from the Director of Saudi Arabia’s National Information Center, His Excellency Dr. Esam Alwagait, in which he thanked participants:
“Your candid perspectives have not only inspired us with the vision of what lies ahead, but have also grounded us in the realities we must face. Together, we have not only imagined the future of AI, but have also made it real by addressing the challenges and identifying the enablers needed to truly unlock its potential.”
He added:
“It has been incredibly inspiring to see the world come together here in Riyadh, united by momentum to make AI work for everyone. The commitment to collaborative action has been evident throughout the summit.”
The success of GAIN 2024 ensures that the Kingdom’s AI infrastructure will be significantly strengthened and has cemented Saudi Arabia position at the center of global AI.
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Artificial Intelligence
Akuvox S567G Smart Indoor Monitor Has Received Google Mobile Service Certification
XIAMEN, China, Sept. 13, 2024 /PRNewswire/ — Akuvox has announced its S567G, an indoor monitor powered by Android™, to have received Google GMS certification. This certification ensures full support for Google Services, allowing users to download and update apps directly from the Google Play Store, including smart home control apps. It also enhances system security, protecting against malware and unauthorized access.
GMS certification involves comprehensive testing and approval by Google or a designated 3PL lab, validating security and compatibility to ensure seamless integration within the Android ecosystem. Receiving GMS certification underscores Akuvox’s leadership in the smart intercom industry. Building on its legacy as the pioneer of Android smart intercoms, Akuvox continues to elevate its Android systems with Google’s rigorous certification, offering clients flexible and sophisticated smart intercom solutions.
The S567G’s GMS certification ensures flawless operation with key Google apps like Chrome, Gmail, YouTube, Maps, and the Play Store. Edward Shi, Product Manager of the S567G, notes, “The positive feedback we’ve received from clients, even during testing, confirms that this device is transforming daily life. It’s more than just an intercom — it’s a versatile tool, even capable of functioning as a small TV. Our team has worked tirelessly to meet the highest standards, and I’m excited to see how it enhances smart living for our users.”
The S567G’s features extend beyond intercom functionality. With four HD speakers and a 1280 x 800 IPS LCD screen, it offers an exceptional audio-visual experience, redefining the concept of an indoor monitor. Whether for entertainment or smart home control, the S567G stands out as a versatile wall-mounted tablet, bringing innovation to every interaction.
About Akuvox
Akuvox is a global leading provider of smart intercom and smart home products and solutions. It is committed to unleashing the power of technology to improve people’s lives with better communication, greater security, and more convenience. Encompassing artificial intelligence, SIP, Android, cloud, security, and other advanced technologies, Akuvox continuously drives breakthrough changes in the industry and creatively delivers an unrivaled portfolio of smart intercom and smart home products and solutions. It has been deployed and used daily in more than 110 countries and regions, meeting customer needs in various vertical markets that range from residential to commercial, from healthcare to public safety.
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