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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

Space robotics market revenue forecast to grow to $7 billion by 2032

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The global market for space robotics is forecast to exceed revenues of $7 billion by 2032 with a projected compound annual growth rate of 9 percent over 2023-2032, according to a report by Global Market Insights.

The market growth is due to the rapid expansion of the electronic chip manufacturing industry globally. Besides, the increasing number of space projects in the MEA region will also foster the market growth.

For instance, in May 2022, Benya Group inked an MoU with OneWeb to explore the distribution of connection services in the MEA region. [Read more…] about Space robotics market revenue forecast to grow to $7 billion by 2032

Global semiconductor equipment sales to reach $118 billion

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Global sales of total semiconductor manufacturing equipment by original equipment manufacturers are forecast to reach a record $117.5 billion in 2022, rising 14.7 percent from the previous industry high of $102.5 billion in 2021, and increase to $120.8 billion in 2023, SEMI reports in its Mid-Year Total Semiconductor Equipment Forecast – OEM Perspective at SEMICON West 2022 Hybrid.

Both the front-end and back-end semiconductor equipment segments are contributing to the market expansion. The wafer fab equipment segment, which includes wafer processing, fab facilities, and mask/reticle equipment, is projected to expand 15.4% to a new industry record of $101 billion in 2022, followed by a 3.2 percent increase to $104.3 billion in 2023.

Ajit Manocha, president and CEO of SEMI, says: “In line with the semiconductor industry’s determined push to increase and upgrade capacity, the wafer fab equipment segment is poised to reach the $100 billion milestone for the first time in 2022. [Read more…] about Global semiconductor equipment sales to reach $118 billion

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

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

Honeywell to provide flight control technology for unmanned cargo plane

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Pipistrel has selected Honeywell’s Compact Fly-By-Wire system for the Nuuva V300 cargo unmanned aerial vehicle (UAV), choosing a modern, lightweight, highly capable system with a proven architecture ideally suited for their autonomous cargo UAV.

Fly-by-wire computers act as the “brains” of an aircraft’s flight controls by operating them electronically and can be found inside nearly all large fixed-wing aircraft today.

The compact version from Honeywell has features derived from decades of expertise in fly-by-wire systems for airliners, but it’s much smaller – roughly the size of a paperback book. [Read more…] about Honeywell to provide flight control technology for unmanned cargo plane

Robotic lawn mower market forecast to grow to $1.3 billion

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The robotic lawn mower market is projected to grow from the current $533 million to $1,262 million by 2025 at annual growth rates of around 13 percent, according to a new report by ResearchAndMarkets.com.

Increase in labor cost, safety concerns over traditional lawn mowers, and need for noise-free operation are some of the major factors that will drive the robotic lawn mower market.

Europe is expected to be the largest as well as fastest growing robotic lawn mower market during the forecasted period.

[Read more…] about Robotic lawn mower market forecast to grow to $1.3 billion