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Robot end-effector market forecast to grow to $6.5 billion by 2025

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The global market for robot end-effectors is forecast to grow to $6.5 billion by 2025, according to research done by Global Market Insights.

The revenue of Robot End-Effector Market crossed $2.5 billion in the year 2018 and is predicted to grow to $6.5 billion by 2025, growing at 14 percent between the years 2019 and 2025.

The advent of industry 4.0 in manufacturing industry which includes the inclusion of technological trends such as cloud robotics, automation, cyber-physical systems, big data, and IoT is driving the demand for advanced end-effectors. [Read more…] about Robot end-effector market forecast to grow to $6.5 billion by 2025

Agtech startup Robotics Plus wins prestigious award

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Robotics Plus, a developer of robotics and automation technologies for the agriculture sector, has won a prestigious award in its home region of Australia-New Zealand. 

The startup has won an ANZLF Trans-Tasman Innovation and Growth Award, from the Australia New Zealand Leadership Forum.

The awards, which celebrate innovation, growth and impact of emerging businesses in Australia and New Zealand, were presented by Prime Minister Rt Hon Jacinda Ardern at a reception in Auckland this week. [Read more…] about Agtech startup Robotics Plus wins prestigious award

Global wearable robotic exoskeleton market forecast to grow to $4 billion

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The global wearable robotic exoskeleton market is forecast to grow to more than $4 billion by the end of 2026 and record annual growth of 43.1 per cent during the forecast period of 2019-2026.

At present advancement in Artificial Intelligence and robotics is enabling wearable robotic exoskeleton development primarily for logistics, medical and engineering commitments due to limited battery support capabilities.

However wearable robotic exoskeleton can be applied in a wide range of industries capable of augmenting the growth of the global wearable robotic exoskeleton market. [Read more…] about Global wearable robotic exoskeleton market forecast to grow to $4 billion

Demand for robots to surge in electronics industry, says report

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The demand for articulated robots is forecast to surge in line with increasing applications in the electronics industry, according to a report by FMI.

The research company forecasts the global industrial robotics market to see substantial growth over the forecast period due to multiple driving factors such as the adoption of internet of things in industries and growing digitalization of manufacturing industry across geographies.

The global industrial robotics market was valued at approximately $17 billion in 2018 and is estimated to increase at annual growth of approximately 18 per cent between the forecast periods of 2019 and 2029. [Read more…] about Demand for robots to surge in electronics industry, says report

Attabotics raises $25 million to ‘transform supply chains’

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Attabotics, a robotics company specialising in supply chain technology, has raised $25 million in Series B funding from financial and strategic investors.

Participants in the round included Coatue, Comcast Ventures, and Honeywell alongside returning early investors Forerunner Ventures and Werklund Growth Fund.

The new funding will go toward supporting Attabotics’ continued, explosive growth, including new hires, scaling manufacturing operations, the development of new technologies, and more. Attabotics has raised $32.7 million in funding to date. [Read more…] about Attabotics raises $25 million to ‘transform supply chains’

Mitsubishi Electric launches new lift and escalator company in Laos

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Mitsubishi Electric Corporation has established MELCO Elevator Lao Sole Co., Ltd. (MLAO) to accelerate its lift and escalator business growth in the highly promising Mekong regional market.

The new company, which was established by Mitsubishi Elevator (Thailand) Co., Ltd. (MET), a Mitsubishi Electric subsidiary, began operations on July 1, 2019.

The new company is expected to strengthen Mitsubishi Electric’s sales of lifts and escalators as well as related provision of high-quality maintenance services.

[Read more…] about Mitsubishi Electric launches new lift and escalator company in Laos

Cowen and MassRobotics agree to collaborate in robotics and artificial intelligence

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Cowen, a provider of data and information to investors, and tech startup incubator MassRobotics have agreed a partnership to bring together their extensive market knowledge to advance research into the emerging robotics and artificial intelligence industry.

Based in the Boston area, MassRobotics is a global hub for robotics, and the collective work of a group of engineers, rocket scientists, and entrepreneurs focused on the needs of the robotics community.

Jeffrey Solomon, CEO of Cowen, says: “The robotics and artificial intelligence industry is a rapidly expanding market, and one that will define the advancement of manufacturing and services on a global basis. [Read more…] about Cowen and MassRobotics agree to collaborate in robotics and artificial intelligence

Ket-Met reduces machine costs by more than 40 percent, says Universal Robots

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Ket-Met has been able to reduce machine costs by more than 40 percent through the application of collaborative robots, according to a case study by Universal Robots

Ket-Met is a Finnish subcontract machine tooling shop.

Until recently, the company had progressively lost its cost competitiveness – the main reason for this was that its traditional way of using CNC machines required too much manpower.

Machine hour costs were reduced by over 40 percent due to Universal Robots’ cobots.

This helped the company win new orders. [Read more…] about Ket-Met reduces machine costs by more than 40 percent, says Universal Robots

Danish robot industry makes 5 recommendations for continued growth

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For the last 20 years, Denmark has succeeded in becoming one of the world’s leading robot nations. New figures show great potential for future growth, exports and employment within the Danish robot industry.

The Danish robot industry wants to realise this potential and has launched five recommendations for the newly elected Danish Parliament.

By 2025, up to 25,000 may be directly employed in the robot industry – from a current level of 8,500 employees – and total revenue has the potential to reach DKK 52 billion.

If one counts the derived revenue and employment (growth that is dependent on activities in the robot industry), then the total potential is DKK 80 billion in turnover and 55,000 employees in 2025.

[Read more…] about Danish robot industry makes 5 recommendations for continued growth

HPE to acquire supercomputer manufacturer Cray for $1.3 billion

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Hewlett Packard Enterprise has reached an agreement to acquire Cray, the manufacturer of supercomputing systems.

HPE says the acquisition will cost $35 per share, in a transaction valued at approximately $1.3 billion, net of cash.

Antonio Neri, president and CEO, HPE, says: “Answers to some of society’s most pressing challenges are buried in massive amounts of data. [Read more…] about HPE to acquire supercomputer manufacturer Cray for $1.3 billion