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Internet of robotic things market is likely to surpass $210 billion

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The Internet of Robotic Things (IoRT) market is likely to surpass $210 billion amid demand for automation in the manufacturing and service sector, according to Future Market Insights.

The IoRT market revenue was estimated at $21.4 billion in 2022 and is anticipated to grow at a compound annual growth rate of 25.6 percent from 2022 to 2032.

By the end of 2032, the IoRT market is expected to reach a valuation of $210 billion. The service sector segment will dominate the market at a projected CAGR of 25.4 percent from 2022 to 2032. [Read more…] about Internet of robotic things market is likely to surpass $210 billion

Global semiconductor manufacturing equipment sales reach all-time record $108 billion

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Worldwide sales of semiconductor manufacturing equipment increased 5 percent from $102.6 billion in 2021 to an all-time record of $107.6 billion last year, SEMI, the industry association representing the global electronics design and manufacturing supply chain.

The data is now available in the Worldwide Semiconductor Equipment Market Statistics (WWSEMS) Report.

For the third consecutive year, China remained the largest semiconductor equipment market in 2022 despite a 5 percent slowdown in the pace of investments in the region year over year, accounting for $28.3 billion in billings. [Read more…] about Global semiconductor manufacturing equipment sales reach all-time record $108 billion

Semiconductor robot market set to grow to more than $1 billion

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The global market for semiconductor robots is anticipated to be worth $1.1 billion in 2023 and to grow at a CAGR of 17.5 percent to $5.6 billion by the end of the forecast period, according to Fact.MR. 

Due to their wide range of uses in consumer electronics, automobiles, medical devices, and other products, semiconductors are in high demand worldwide.

To meet this demand, semiconductor manufacturers are increasing their production capacity and implementing semiconductor robots for a better result. [Read more…] about Semiconductor robot market set to grow to more than $1 billion

Neubility raises 3 billion won investment from Samsung

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Neubility, an autonomous robot services company, has received a 3 billion won ($2.3 million) investment from Samsung Venture Investment.

With this investment, it has achieved about 30 billion won in total cumulative investments, while establishing a bridgehead for its global business by entering major overseas markets, such as Japan, Europe, and the United States, and building a production base in Southeast Asia.

Neubility is rapidly increasing its service competitiveness by accumulating data on urban driving experience from the CES 2023 Innovation Award-winning self-driving robot, Neubie, and the Robot as a Service (RaaS) platform, Neubiego. [Read more…] about Neubility raises 3 billion won investment from Samsung

Plus One Robotics raises $50 million in new funding

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Plus One Robotics, a provider of advanced AI vision software and solutions for robotic parcel handling, has raised $50 million in Series C funding.

The round was led by Scale Venture Partners, with Partner Rory O’Driscoll joining the board of directors. Top Tier Capital Partners, Tyche Partners, ROBO Global Ventures, Translink, McRock, and Pritzker Group Venture Capital also participated in the round alongside existing investors, which brings the company’s total funding to date to nearly $100 million.

Plus One’s technology helps to alleviate the persistent shortage of manual labor through robotic solutions, dramatically streamlining the parcel picking and depalletizing processes. [Read more…] about Plus One Robotics raises $50 million in new funding

Collaborative robot market to grow to $2 billion in the pharma industry

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The use of collaborative robots or “cobots” is on the rise in the pharmaceutical industry. Pharmaceutical application takes up around 0.05 percent of the total medical robot market size.

Valued at $553 million, the pharmaceutical robotic market is forecast to grow at 15.7 percent compound annual growth rate to reach $2 billion by 2030.

In hospital settings, pharmacy robots are often included under the category of hospital logistic robots. [Read more…] about Collaborative robot market to grow to $2 billion in the pharma industry

Intel to invest $20 billion in building two new chip factories in Ohio

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Intel has announced plans for an initial investment of more than $20 billion in the construction of two new leading-edge chip factories in Licking County, Ohio.

The investment will help boost production to meet the surging demand for advanced semiconductors, powering a new generation of innovative products from Intel and serving the needs of foundry customers as part of Intel’s IDM 2.0 strategy.

As the largest single private-sector investment in Ohio history, the initial phase of the project is expected to create 3,000 Intel jobs, 7,000 construction jobs over the course of the build, and support tens of thousands of additional local long-term jobs across a broad ecosystem of suppliers and partners. [Read more…] about Intel to invest $20 billion in building two new chip factories in Ohio

Mitsubishi Electric to invest $223 million to build new factory in India

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Mitsubishi Electric says it will invest approximately 26.7 billion yen (about $222.5 million), in its subsidiary company Mitsubishi Electric India to establish a factory for the production of room air conditioners and compressors in India.

Local production, targeted to start in October 2025, is expected to help the company meet growing demand in the Indian market. Initial annual capacity will total 300,000 room air conditioner outdoor units and, beginning in December 2025, 650,000 compressors.

The demand to replace older air conditioning and refrigeration systems with newer models is expected to continue growing as consumers and companies shift to energy-saving and low-GWP refrigerants. [Read more…] about Mitsubishi Electric to invest $223 million to build new factory in India

Bin-picking systems market forecast to grow to $5.6 billion by 2033

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The global bin picking systems market is anticipated to be valued at $1.7 billion in 2023 and it is anticipated to grow at a compound annual growth rate of 12.5 percent to reach $5.6 billion by the end of 2033, according to a report by Fact.MR. 

A bin picking system is a technology in which a robot is incorporated with a 3D, camera, optical sensor (3D or 2D) and an end effector (magnet gripper, and others) to remove parts from a container full of disorganized, irregularly shaped pieces.

Robotic arm receives command based on the analysis done by the computer vision system and the vision system examine the target area and recognize the position of the pieces. [Read more…] about Bin-picking systems market forecast to grow to $5.6 billion by 2033

Global autonomous cars market size to reach $16 billion by 2030

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The global market for autonomous cars was valued at $1.35 billion in 2021 and is projected to reach $15.55 billion by 2030, growing at a compound annual growth rate of 31.19 percent from 2023 to 2030.

The increasing demand for connected cars employing the internet of things and the growing development of smart cities in the countries is driving the Autonomous Cars Market growth.

This is according to a new report by Verified Market Research, which says the increasing demand for connected cars employing the internet of things is the key force driving the autonomous car market. [Read more…] about Global autonomous cars market size to reach $16 billion by 2030