Blockchain Press Releases
Collaborative Robot (Cobot) Market Size To Grow USD 1357.4 Million by 2029 at a CAGR of 8.2% | Valuates Reports
BANGALORE, India, Aug. 8, 2023 /PRNewswire/ — The Global Collaborative Robots (Cobot) Market is Segmented by Type (Below 5 kg, 5-10 kg, More Than 10 kg), by Application (Metal and Processing, Automobile, IT, Plastics and Polymers, Food and Beverage)
The Collaborative Robots Market is projected to reach USD 1357.4 Million in 2029, increasing from USD 771 Million in 2022, with a CAGR of 8.2% during the period of 2023 to 2029.
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Major Factors Driving the Growth of the Collaborative Robot (Cobot) Market:
The market for cobots is propelled by elements such as safety and teamwork, adaptability and flexibility, cost-effectiveness, labor shortages, advanced technology, Industry 4.0 efforts, safety requirements, ROI, and productivity improvements.
The adoption of collaborative robots, or cobots, by Small and Medium Enterprises (SMEs) is one factor contributing to the expansion. In order to engage with people in a shared office and automate industrial procedures, these businesses are investing more and more in cobots.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL COLLABORATIVE ROBOTS (COBOT) MARKET
Stages of the assembly process are frequently automated in manufacturing using cobots. They might move and screw in bolts or lift and set a hefty automobile roof. Robots are more suited to assembly process steps that require a great deal of repetition than people are.
Because of their compact size, they are simple to assemble, disassemble, and transfer across the factory without affecting how the production is organized. Programming is made possible for non-engineers as well, thanks to kinesthetic leading (hand guiding). Hand directing allows the user to move the arm around in space at will by just pressing a button on the teaching pendant (the robot’s controller). This allows the user to assign the task themselves. The demonstrated path is then logged and accessible for additional programming from the teaching pendant, which is typically simple to do. This procedure could take an hour.
Collaborative robots are especially intriguing for SMEs (small-medium-sized firms) that create a wide variety of items at a low volume due to the short changeover time.
The lack of a specialized work cell, which eliminates the need for fences and light curtains, is one of the main advantages of a cobot over a six-axis robot (although this is not always the case, depending on the application). This is due to the force limitations in the robot’s joints. This indicates that each joint has a force sensor, which adds a quick response in the event of a collision and causes the robot to halt. Additionally, when a person approaches the robot, extra sensors like laser sensors can be added to slow down or stop the robot.
Although collaborative robots may be less expensive than industrial robots (mostly due to their smaller size), the cost of the investment as a whole must also be considered. The cost gap increases when all the ancillary considerations are considered. As an illustration, it is cost-effective to do without a work cell and all that entails (hardware, labor, and time). Employee training is not required, and a robotics expert is not required to supervise or maintain operations. In contrast to industrial robots, it is optional. Cobots have a shorter ROI (return on investment) period than six-axis robots, which might take up to 18 months.
A second arm, which is not present in conventional industrial robots, is a feature that a few businesses have introduced to cobots. Two arms are thought to be advantageous for sensitive operations like tightening screws or assembling small pieces (like electronic components), which can speed up the process and increase flexibility. Another use would be parallel bin picking. With two robotic arms, the task of scooping up small components from bins in haphazard positions can be completed more quickly. The difficulty of synchronizing the two arms to work together is one of the reasons why two-armed cobots are still not very common.
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COLLABORATIVE ROBOT (COBOT) MARKET SHARE
With a share of the market of roughly 54%, Asia-Pacific is the biggest region. With a market share of around 29%, Europe is a laggard.
The major players include Kawasaki, KUKA, FANUC, Rethink Robotics, ABB, Universal Robots, and others. The top 3 corporations had around 74% of the market.
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Key Players:
- Universal Robots
- ABB
- Rethink Robotics
- Kawasaki
- KUKA
- FANUC
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SIMILAR REPORTS
– Programmable Robots market is projected to grow from USD 1957.7 million in 2023 to USD 3193.9 million by 2029, at a Compound Annual Growth Rate (CAGR) of 8.5% during the forecast period.
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– Shelf-mounted Robots market was valued at USD 6574.8 million in 2022 and is anticipated to reach USD 11030 million by 2029, witnessing a CAGR of 7.5% during the forecast period 2023-2029.
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– Autonomous Mobile Robots (AMR) market was valued at USD 1494.5 million in 2022 and is anticipated to reach USD 7938.4 million by 2029, witnessing a CAGR of 25.9% during the forecast period 2023-2029.
– Building Delivery Robot Market
– Industrial Cobot market was valued at USD 771 million in 2022 and is anticipated to reach USD 1661.4 million by 2029, witnessing a CAGR of 11.5% during the forecast period 2023-2029.
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– Food Robotics market size was USD 441.8 million and it is expected to reach USD 812.8 million by the end of 2027, with a CAGR of 9.1% during 2021-2027.
– Agricultural Robots market size is estimated to be worth USD 5820.3 million in 2022 and is forecast to a readjusted size of USD 16120 million by 2028 with a CAGR of 18.5% during the review period.
– Delivery Robot market size is estimated to be worth USD 20 million in 2022 and is forecast to a readjusted size of USD 50 million by 2028 with a CAGR of 16.5% during the review period.
– The global automotive robotics market size was valued at USD 6.63 Billion in 2019, and is projected to reach USD 13.60 Billion by 2027, registering a CAGR of 12.8% from 2020 to 2027.
– The global robotics market size was valued at USD 12,153.1 million in 2020, and is expected to reach USD 149,866.4 million by 2030, with a CAGR of 27.7% from 2021 to 2030.
– Robotic Process Automation (RPA) Market estimated at USD 426.7 million in the year 2022, is projected to reach a revised size of USD 2404.5 million by 2028, growing at a CAGR of 33.4% during the forecast period 2022-2028.
– The global service robotics market size was valued at USD 21,684.5 Million in 2020 and is projected to reach USD 153,684.5 Million by 2030, registering a CAGR of 21.2% from 2021 to 2030.
– Industrial Robotics market size is estimated to be worth USD 41270 million in 2022 and is forecast to a readjusted size of USD 63340 million by 2028 with a CAGR of 7.4% during the review period.
– Warehouse Robotics market size is estimated to be worth USD 3027.3 million in 2022 and is forecast to a readjusted size of USD 4823.9 million by 2029 with a CAGR of 6.8% during the forecast period 2023-2029.
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Blockchain Press Releases
HTX Ventures: Bitcoin Scripting Advances Unlock Potential for Secure and Scalable BTCFI
SINGAPORE, Sept. 12, 2024 /PRNewswire/ — HTX Ventures, the global investment division of HTX, today released its latest research analysing Bitcoin’s potential and challenges in the field of Bitcoin decentralized finance (BTCFI). The report, titled Exploring the BTCFI Rabbit Hole from the Perspective of Bitcoin’s Programmability, aims to help readers understand the BTCFI sector better, by exploring the evolutionary path of Bitcoin programming, delving into how Bitcoin programming can support various BTCFI applications, showcasing the current real-world BTCFI implementation scenarios, and explaining the underlying logic of BTCFI’s future growth and adoption.
HTX Ventures has been contributing to BTCFI for a long time. As stated in its 2024 Half-Year Investment Report, BTCFI is highlighted as one of HTX Ventures’ six key investment directions in 2024. Some of HTX Ventures’ portfolio companies in the BTCFI sector include Babylon, BounceBit, COREx, and more.
The new report once again shows HTX Ventures’ interest in BTCFI. It begins with the foundations of the Bitcoin contracts, which were laid fourteen years ago by Satoshi. Understanding the basics of Bitcoin programming involves several concepts, including Transaction Outputs (TXO), Unspent Transaction Output (UTXO), scriptSig, and Opcodes. “Bitcoin script programming is about programming money and enabling a specific amount of money to respond to particular input data. By designing the scriptPubKey, opcodes, and the interaction process between users, we can offer cryptographic guarantees for the key state transitions of Bitcoin contracts, ensuring the contracts’ proper execution,” the report points out.
There are some mechanisms to be used to enable the implementation of different types of transactions, including MultiSig, Timelocks, Hashlocks, Flow Control, and SIGHASH. The report explains, “the basic model of Bitcoin programming is where UTXO locking scripts specify verification conditions, unlocking scripts provide data, and opcodes in locking scripts indicate the verification program. The funds can be spent once the verification program is passed.”
There are some core limitations, however, such as only a few verification programs being available, Bitcoin scripts having no computational power, and UTXO unlocking conditions being completely independent.
Unlike the computation-based Ethereum contracts, Bitcoin contracts are verification-based, which has brought many challenges in developing BTCFI products. Despite the difficulties, “over the ten years of developing Bitcoin contracts, the ingenious use of cryptographic algorithms and signatures has significantly enhanced privacy, efficiency, and decentralization, making BTCFI products possible,” the report states, and starts introducing Bitcoin programming milestones. Innovative tools, such as the Discreet Log Contract (DLC), Partially Signed Bitcoin Transactions (PSBT), and MuSig2 bring new solutions to the problems in Bitcoin programming, driving the development of BTCFI.
The Taproot upgrade activated in November 2021 was revolutionary for the Bitcoin ecosystem, allowing Bitcoin to hold in custody large-scale smart contracts with tens of thousands of signatories while concealing all participants and maintaining the size of a single-signature transaction. This makes more complex on-chain BTCFI operations possible and significantly improves privacy and transaction efficiency.
Such technological innovations pave the way for BTCFI’s further development. Then in January 2023, Ordinals were proposed, which aimed to assign each sat a unique identifier and attribute, so as to transform it into a unique NFT. The creation and trading of Bitcoin NFTs were realized, not only expanding the uses of Bitcoin but also allowing users to directly create and trade digital assets on the Bitcoin blockchain. This led to the introduction of BRC-20, a token system for on-chain recording and off-chain processing that uses JSON data’s ordinal inscriptions to deploy token contracts, mint tokens, and transfer them.
The naissance of Ordinals and BRC-20 created trading demand and blue-chip assets for BTCFI. More importantly, they offered many BTCFI projects new ideas based on indexer programming that enhanced Bitcoin’s contract capabilities.
Bitcoin’s programmability has come a long way and made great progress, forming a thriving BTCFI ecosystem with more and more application scenarios of BTCFI arising. The report lastly lists some notable BTCFI implementations, including BTC staking provider Babylon, asset issuance platforms Unisat and Magic Eden, lending protocol Liquidium, BTCFI scaling solution Fractal Bitcoin, and more.
The emergence of BTCFI applications indicates that its market potential is becoming evident. With Bitcoin becoming more and more mainstream, the market demand for BTCFI use cases will also increase, fostering a new financial ecosystem centered around Bitcoin. “The formation of this ecosystem will propel Bitcoin further beyond the ‘digital gold’ narrative, establishing it as an indispensable decentralized financial infrastructure in the global economic system,” the report concludes.
To read the full report, please visit: https://square.htx.com/htx-ventures-exploring-the-btcfi-rabbit-hole-from-the-perspective-of-bitcoins-programmability/
About HTX Ventures
HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With more than a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice.
HTX Ventures currently backs over 300 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most active FOF (Fund of Funds) funds, HTX Ventures invests in 30 top global funds and collaborates with leading blockchain funds such as Polychain, Dragonfly, Bankless, Gitcoin, Figment, Nomad, Animoca, and Hack VC to jointly build a blockchain ecosystem. Visit us here.
Feel free to contact us for investment and collaboration at [email protected]
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Blockchain Press Releases
HTX Announces Strategic Partnership with IBEX to Jointly Promote Global Bitcoin and Lightning Network Applications
SINGAPORE, Sept. 12, 2024 /PRNewswire/ — HTX, a global leading platform for digital assets, recently announced a strategic partnership with IBEX, a Fintech at the forefront of Bitcoin Lightning Network innovation that leverages the Bitcoin and Lightning Network protocols to offer global settlement solutions. Through the deep integration of Lightning Network technology, this collaboration aims to enhance the payments efficiency, reduce transaction costs on the HTX platform, explore emerging markets together and provide users with more diverse financial services.
IBEX Has Become a Key Advocate in Bitcoin Transactions
As a company dedicated to providing fintech solutions on the Bitcoin Lightning Network, IBEX focuses on reshaping the global payment ecosystem with its innovative crossborder instant settlement capabilities. Founded in 2018, IBEX aims to offer fast, secure, and low-cost settlement solutions through the technological advantages of the Bitcoin Lightning Network. Its platform provides modular API, helping enterprises easily integrate Bitcoin and Lightning Network functions to connect to the global financial network.
Its core advantages include:
- Instant settlement: IBEX’s Lightning settlement system allows global transactions to be completed within seconds, significantly reducing the confirmation time compared with tradfi and defi transactions. For this reason, it is particularly suitable for scenarios requiring instant payments, such as online shopping and international remittances.
- Low transaction fees: Through the Lightning Network, IBEX can substantially lower transaction costs, thus avoiding the high fees associated with traditional blockchain networks. This saves costs for both merchants and consumers.
- High security: IBEX employs advanced encryption technology and multi-factor authentication measures in its system to ensure transaction security and protect user data.
IBEX pays utmost attention to security, reliability, and compliance, offering one-stop solutions for companies operating under various legal frameworks. As the Lightning Network continues to evolve, IBEX has become a key partner for crossborder settlement solutions.
Lightning Network Integration: A New Upgrade for the HTX Platform
As part of the partnership, HTX will integrate IBEX’s Lightning Network technology into its platform, which has entered the testing phase. The Lightning Network is a second-layer protocol designed for Bitcoin, aiming to increase the speed and scalability of Bitcoin transactions. Through this integration, users on the HTX platform will enjoy faster transaction confirmations and lower fees, so user experience and platform competitiveness will be remarkably enhanced.
Apart from technical collaboration, HTX and IBEX will jointly explore various application scenarios, including payments, transfers, and settlements. They also plan to offer deposit/withdrawal services for IBEX on the HTX platform. Both parties will gradually expand into other business areas, thus deepening and broadening their collaboration.
Both parties will also work closely in brand building, social media, campaigns, and marketing. In the future, HTX and IBEX will co-host various marketing campaigns, such as AMA events, press conferences, and other promotional activities to increase brand awareness and attract more users. The two parties will support each other in their respective advantageous markets, thus expanding their market influence globally.
Forge Powerful Alliance to Jointly Explore Emerging Markets
HTX and IBEX will jointly expand global markets, especially the Asian Latin American, and African markets which promise great potential. HTX will leverage its market penetration in these regions and combine it with IBEX’s Lightning settlement system so as to popularize cryptocurrency payments among local merchants and consumers. This will benefit both merchants and consumers with more convenient payment solutions and lower transaction costs.
Strategically, this collaboration between HTX and IBEX will focus on the application of the Lightning Network within HTX and its ecosystem. IBEX will support HTX in exploring the potential of the Latin American and African markets, particularly in areas like deposit/withdrawal channels, local exchange partners, and Opinion Leaders. In addition, HTX will assist IBEX in brand and business expansion in the Asian market, further increasing its global influence.
An HTX spokesperson stated, “Through this strategic partnership, HTX and IBEX will jointly promote the application and popularization of Bitcoin and Lightning Network technology worldwide, providing users with more efficient, secure, and convenient digital asset trading services.”
Ry Sterling, Head of New Markets, EMEA for IBEX also said “The partnership between HTX and IBEX is the first step to connecting the Global South and Asia via the Lightning Network. We look forward to expanding HTX’s LN features as well as opening channels to new markets and to local IBEX LN partners across Asia, Latin America and Africa.”
About IBEX
IBEX offers fintech solutions on the Bitcoin Lightning Network, focusing on real-time global settlement, scalability and regulatory compliance. Their platform provides modular APIs for integrating Bitcoin and Lightning functionalities, allowing businesses to connect to a global financial network. They emphasize security, reliability, and regulatory features, making their services suitable for companies operating under various legal frameworks. The site also highlights the growing adoption and capacity of the Lightning Network, reflecting its increasing role in Bitcoin transactions.
For more details, visit IBEX
About HTX
Founded in 2013, HTX has evolved over a decade from a simple cryptocurrency exchange to a comprehensive blockchain business ecosystem. This expansion covers a wide range of services including digital asset trading, financial derivatives, wallets, research, investments, incubation, and more. As a world-leading portal to Web 3.0, HTX is committed to a growth strategy focused on global expansion, ecological prosperity, wealth effect, and safety and compliance. This approach enables us to offer comprehensive, safe, and reliable services and value to virtual currency enthusiasts around the world, reinforcing our position as a global gateway to Web3.
Contact Details
Ruder Finn Asia
[email protected]
Company Website
https://www.htx.com
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Blockchain Press Releases
Nomic Announces Support for Ethereum, Bringing Decentralized BTC to the Biggest DeFi Markets
New expansion to Nomic is the first step to building a decentralized onramp for moving Bitcoin onto new blockchain networks
GRAND CAYMAN, Cayman Islands, Sept. 12, 2024 /PRNewswire/ — The Nomic DAO Foundation announced today the launch of Ethereum support on Nomic’s decentralized custody engine for Bitcoin. This will enable seamless BTC on-and-off-ramping into Ethereum, bringing Bitcoin to the largest ecosystem in decentralized finance (DeFi). Starting with a testnet released today, Nomic will facilitate native Bitcoin deposits and withdrawals on Ethereum, without relying on centralized custodians.
Traditionally, to use BTC on Ethereum, users have had to obtain wrapped bitcoin (WBTC), an ERC-20 token on the Ethereum blockchain that is pegged to real Bitcoin. Each WBTC is backed 1:1 with Bitcoin, which is held in reserve by a centralized custodian. Recently, amid centralization concerns with custodians holding all the keys to the multisig for WBTC worth $9.2 billion, the broader DeFi community has pushed for users to consider new decentralized alternatives.
“Bitcoin is the highest-value crypto asset, and Ethereum is the highest-value DeFi ecosystem. I’m excited to see Nomic bring its products to Ethereum, including the native and decentralized nBTC asset, and seamless one-step BTC deposits,” said Matt Bell, CEO of Turbofish, Nomic’s founders and core contributors. “It’s time to move beyond the current centralized and clunky BTC-on-Ethereum offerings, and start truly bringing Bitcoin into DeFi.”
In addition to bringing Bitcoin into Ethereum through nBTC, this upgrade introduces a new framework for protocols to leverage Nomic’s decentralized custody engine. Previously, to build Bitcoin DeFi solutions, protocol developers had to rely on centralized MPC providers or basic multisig setups to hold BTC, which presented trust and decentralization challenges. Now, with Nomic’s decentralized custody engine, protocols can easily create Bitcoin-backed assets at a lower cost, providing a trust-minimized solution to accelerate Bitcoin DeFi growth on Ethereum and other EVM chains.
This upgrade also paves the way for future bridging to other EVM-based chains, expanding the reach and utility of nBTC across ecosystems that represent more than $46 billion in total value locked (TVL).
To learn more, visit https://www.nomic.io/.
About the Nomic DAO Foundation
The Nomic DAO Foundation is a non-profit dedicated to the growth and integration of the Nomic ecosystem. The Foundation supports the goals and objectives of the Nomic DAO (decentralized autonomous organization), is the initial steward of the Nomic blockchain, and will support and grow the Nomic DAO until it becomes self-sufficient.
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