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Collaborative robots market forecast to reach $7.2 billion by 2030

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Collaborative robots (cobots) are a versatile, cost-effective robot form factor that is demonstrating value across many industry verticals.

According to a new report from global technology intelligence firm ABI Research, revenue from cobots will increase from $970 million in 2023 to $7.2 billion by 2030, a compound annual growth rate of 28 percent. Safety, lower average selling prices, and accessibility will drive collaborative robot sales.

George Chowdhury, robotics industry analyst at ABI Research, says: “Cobots are at the forefront of the robotics revolution. They have the potential to democratize automation and bring robots into new markets, working side-by-side with human workers to unlock economic growth. [Read more…] about Collaborative robots market forecast to reach $7.2 billion by 2030

Drone market forecast to grow to $123 billion by 2030

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The drone economy is set to soar, with unprecedented growth on the horizon. According to global intelligence firm ABI Research, civil and commercial applications of Small Unmanned Aerial Systems (sUAS), aka drones, will expand dramatically, rising from just 8 percent to an impressive 32 percent of the total market by 2030.

In this timeframe, annual drone shipments will more than double from 1.5 million units in 2024 to 3.32 million, fueling an ecosystem poised to quadruple in value.

By the decade’s end, the sector will generate $123 billion in annual revenue, marking a transformative shift in the commercial and civil drone landscape. [Read more…] about Drone market forecast to grow to $123 billion by 2030

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

Global spending on semiconductor fabrication equipment forecast to reach ‘all-time high’ of almost $100 billion in 2022

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Global fabrication equipment spending for front-end facilities is expected to increase approximately 9 percent year-over-year to a new “all-time high” of $99 billion in 2022, according to SEMI.

The industry association revealed its prediction in its latest quarterly World Fab Forecast report. The report also shows the global fab equipment industry increasing capacity this year and again in 2023.

Ajit Manocha, SEMI president and CEO, says: “After achieving a record level in 2022, the global fab equipment market is projected to remain healthy next year driven by new fabs and upgrade activity.” [Read more…] about Global spending on semiconductor fabrication equipment forecast to reach ‘all-time high’ of almost $100 billion in 2022

Global spending on semiconductor fabrication equipment expected to reach record $109 billion

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Global fab equipment spending for front-end facilities is expected to increase 20 percent year-over-year to an all-time high of $109 billion in 2022, marking a third consecutive year of growth following a 42 percent surge in 2021.

This is according to industry association SEMI, which published the figure in its latest quarterly World Fab Forecast report. Fab equipment investment in 2023 is expected to remain strong.

Ajit Manocha, president and CEO of SEMI, says: “The global semiconductor equipment industry remains on track to cross the $100 billion threshold for the first time as shown in our latest update of the World Fab Forecast. [Read more…] about Global spending on semiconductor fabrication equipment expected to reach record $109 billion

Spending on semiconductor fabrication equipment expected to reach record $107 billion in 2022

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Global fab equipment spending for front-end facilities is expected to jump 18 percent year-over-year to an all-time high of $107 billion in 2022, marking a third consecutive year of growth following a 42 percent surge in 2021, according to a report by industry association SEMI.

Ajit Manocha, president and CEO of SEMI, says: “Crossing the $100 billion mark in spending on global fab equipment for the first time is a historic ​milestone for the semiconductor industry.

“This ​significant achievement is a tribute to the relentless drive to add and upgrade capacity to address a diverse range of markets and emerging applications, solidifying expectations for long-term industry growth to enable electronics for the digital world.” [Read more…] about Spending on semiconductor fabrication equipment expected to reach record $107 billion in 2022

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

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

Intralogistics market forecast to grow at 15 percent a year

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The global intralogistics market is expected to surge at a compound annual growth rate of 15.5 percent from 2020 to 2030, according to FactMR.com., which would provide more opportunities for automated guided vehicle and autonomous mobile robot suppliers. 

The market burgeoned at a spritely rate of 14.3 percent over the last five years owing to transcendent demand for increased productivity and efficiency across industries, globally.

Moreover, commencement of industry 4.0 has comprehensively compelled industry verticals to go digital with their supply chain networks. [Read more…] about Intralogistics market forecast to grow at 15 percent a year

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