Robotics & Automation News

Market trends and business perspectives

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Retail robots market expected to reach $55.8 billion by 2028

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The global market for retail robots was valued at $7.1 billion in 2020 and is expected to surpass $55.8 billion by 2028, registering an annual growth rate of 30.1 percent during the forecast period (2021-2028), according to Coherent Market Insights.

Retail service robots bring the intelligence of big-data knowledge of consumers to provide useful and smart in-store customer service. Retail robots can handle scenarios from repetitive customer service inquiries to complex product recommendation.

Companies often have an opportunity to convey real-time data about their company and products whichexplains what they do, why their products are the right fit, and others. [Read more…] about Retail robots market expected to reach $55.8 billion by 2028

Delivery drones market expected to reach $5.6 billion by 2028

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The global market for delivery drones is expected to be valued at $5,586.5 million by 2028, at a compound annual growth rate of 41.3 percent during the forecast period (2021-2028).

The figure are highlighted in a report published by Coherent Market Insights. [Read more…] about Delivery drones market expected to reach $5.6 billion by 2028

Global ‘Robot-as-a-Service’ market set to reach $41.3 billion by 2028

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The global Robot as a Service market was valued at $12.6 billion in 2020 and is expected to surpass $41.3 billion by 2028, registering a compound annual growth rate of 15.9 percent during the forecast period (2021-2028), as highlighted in a report published by Coherent Market Insights.

The ongoing advancement in technologies is propelling the market growth during the forecast period.

The growing adoption of advanced technologies such as automation, artificial intelligence, machine learning, Robot as a Service (RaaS), and many other technologies are expected to drive market growth during the forecast period. [Read more…] about Global ‘Robot-as-a-Service’ market set to reach $41.3 billion by 2028

Sarcos Robotics and T-Mobile team up to integrate 5G into Guardian XT exoskeleton robot

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Sarcos Robotics, a developer of robotic exoskletons, and telecommunications company T-Mobile, have agreed a collaboration to integrate T-Mobile 5G into the Sarcos Guardian XT highly dexterous mobile industrial robot.

The Guardian XT robot is a remote-controlled robotic system designed to help humans safely work in hazardous conditions, performing tasks such as lifting heavy materials or using power tools at significant heights.

With T-Mobile 5G integration, the companies aim to improve performance and response time for remote operations, so the robots can perform tasks more quickly and more in tune with their operator’s movements. [Read more…] about Sarcos Robotics and T-Mobile team up to integrate 5G into Guardian XT exoskeleton robot

Global agriculture robot market expected to quadruple in size by 2026

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The global market for agriculture robots is expected to quadruple in size by 2026, according to a report by Research Dive.

The agriculture robot market size was $4,082.8 million in 2018, and is expected to reach $16,640.4 million by 2026, and will grow at a compound annual growth rate of 19.2 percent.

North America region generated a revenue of $ 1,469.8 million in 2018, and is expected to grow at a CAGR of 18.9 percent. [Read more…] about Global agriculture robot market expected to quadruple in size by 2026

Global service robots market forecast to reach $110 billion by 2027

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The global professional service robots market is expected to be valued at $109.91 billion by the end of 2027, growing at an annual rate of 24.5 percent from 2020 to 2027, as highlighted in a report published by Coherent Market Insights.

Rising funding for research and development in robotics is expected to drive growth of the global professional service robots market during the forecast period.

Since professional service robots are being used in a variety of fields, many sectors (both public and private) have started investing in robotics research and development. [Read more…] about Global service robots market forecast to reach $110 billion by 2027

Hyundai unveils hotel robot developed with KT

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Hyundai Robotics has unveiled a new service robot designed for hotels and developed with KT, formerly Korea Telecom.

The UNI-050H is a mobile service robot co-developed by Hyundai Robotics and KT to perform hotel amenities delivery, and can now be found at the Daegu Marriott Hotel & Residences.

UNI-050H delivers amenities such as towels and bottled water, to guest rooms upon request. [Read more…] about Hyundai unveils hotel robot developed with KT

Hanwha launches new collaborative robot solutions

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Hanwha has launched what it describes as “new advanced solutions”, including Hanwha Collaborative Robot Advanced (HCR Advanced) and a collaborative-robot-solutions package to continue building its momentum in the collaborative robot market that is expected to grow rapidly.

The global market for cobots was worth $1.2 billion last year, and it is expected to grow on average by 42 percent annually as more smart factories are built and the increasing demand for contactless services due to Covid-19 are expected to reach $7 billion by 2026.

In response, Hanwha is aggressively developing advanced cobots that combine Hanwha’s AI technology with its mobility capabilities. The company is integrating its robotics technology with existing logistics automation systems, secondary batteries, and display-related facilities to create synergy and satisfy the diverse needs of customers worldwide. [Read more…] about Hanwha launches new collaborative robot solutions

Microsurgery robot market set to reach $2 billion by 2026

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The microsurgery robot market is projected to attain “remarkable revenue growth” in view of rapid technological advancements in the field of medical science, according to a recent study by market research firm Global Market Insights.

The analyst forecasts that the microsurgery robot market will reach $2 billion by 2026.

Growing inclination towards creating innovative microsurgery devices that are capable of undertaking complex surgeries could massively enhance the product demand in the future. [Read more…] about Microsurgery robot market set to reach $2 billion by 2026

PTC to acquire product lifecycle management provider Arena Solutions

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Computer-aided design specialist PTC has signed a definitive agreement to acquire Arena Solutions, a software as a service (SaaS) product lifecycle management (PLM) platform provider.

The acquisition will further PTC’s strategy to be the leader in the rapidly-growing market for SaaS-based product development software, enabling the company to deliver a complete CAD + PLM SaaS solution.

Under the terms of the agreement, PTC will acquire Arena Solutions for $715 million in cash. Subject to customary closing conditions and completion of regulatory review, the acquisition is expected to be completed in PTC’s fiscal Q2 2021. [Read more…] about PTC to acquire product lifecycle management provider Arena Solutions

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