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.
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.
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.
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.
- Universal Robots
- Rethink Robotics
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– 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.
– 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.
– Robotic Rehabilitation and Assistive Technologies market is projected to grow from USD 1021.7 million in 2023 to USD 1568 million by 2029, at a Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period.
– 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.
– 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.
– 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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US blockchain company, Constellation Network, Welcomes Leading Experts from Top Enterprises and U.S. Government Agencies to their Enterprise Advisory Board.
SAN FRANCISCO, Dec. 6, 2023 /PRNewswire/ — Constellation Network, a trailblazing US blockchain enterprise, proudly unveils its Enterprise Advisory Board, marking a significant stride in expanding its influence across commercial, enterprise, and federal sectors. This board, comprising distinguished leaders from diverse backgrounds, underscores Constellation’s commitment to innovation and security, notably as the first blockchain to develop secure communications for the US Department of Defense.
The board members, selected for their expertise and visionary leadership, include:
Erik Bethel, a global finance expert with significant public and private sector experience, including a pivotal role at the World Bank. His insights into blockchain and AI technologies are invaluable for advancing Constellation’s strategic objectives.
Michael Sandoval, a former Microsoft executive and current CEO of AI Research Corporation, brings a wealth of experience in AI, cybersecurity, and technological architecture, enhancing Constellation’s approach to secure communications and blockchain technology.
Alan Boehme, with over 25 years in global corporations, including H&M and Coca-Cola, offers a deep understanding of emerging technologies. His expertise will be pivotal in guiding Constellation’s technological innovations and applications across industries.
Art Seabolt, a technology specialist with four decades of experience, including senior executive roles, contributes his knowledge in large-scale data management and technology innovation, crucial for Constellation’s big data and blockchain initiatives.
Ken Spedden, recognized by the White House Office of Science and Technology Policy for his technological innovations, brings a unique perspective on applying technology to complex societal and security challenges. His experience in inter-agency collaboration and technology application bolsters Constellation’s mission in leveraging blockchain for wide-ranging societal and national security needs.
The formation of this board is a testament to Constellation Network’s dedication to harnessing Web3 technology for addressing global and industry-specific challenges. This initiative is a key component of Constellation’s strategy to pioneer blockchain applications that are secure, scalable, and transformative.
For more details about these advisors and their contribution to Constellation Network’s vision, visit https://constellationnetwork.io/team.
About Constellation Network, Inc.
Constellation Network is a dynamic force in blockchain, offering an open-source framework for business development. The assembly of this board is a decisive move in solidifying Constellation’s position as a leader in blockchain.
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Bybit Leads Green Revolution with 5ire Blockchain’s Stellar Market Debut
DUBAI, UAE, Dec. 6, 2023 /PRNewswire/ — Bybit, the world’s third-largest crypto exchange by volume, is proud to announce the successful listing of 5ire, an innovative blockchain project that marries sustainability with cutting-edge technology.
Marking a monumental shift in eco-friendly blockchain solutions, the $5IRE token has seen a remarkable performance, quintupling in value at the time of writing, with its growth trajectory looking promising.
“5ire’s integration on Bybit is not just a success story about investment returns; it’s a leap forward in blockchain’s evolution towards sustainability,” said Ben Zhou, co-founder and CEO of Bybit. “This listing reinforces our commitment to supporting not only technologically advanced but also ethically grounded projects.”
5ire has emerged as a pioneer, being the first Layer 1, EVM-compatible blockchain platform to align with the United Nations Sustainable Development Goals. Its sustainable proof of stake model underlines its commitment to reducing the environmental impact of blockchain technology.
As India’s rapidly ascending unicorn, 5ire is charting a course for a sustainable blockchain future, aligning with global initiatives and government partnerships. For example, partnerships with diverse government bodies such as the Muzaffarnagar Police, Nebraska Police Department, and the Ministry of Agriculture in Nigeria.
5ire was launched on Bybit Launchpad — a pioneering token launch platform, which offers investors the exclusive opportunity for early access to new and pre-listed tokens from promising projects, directly accessible on the Bybit platform. To participate, investors commit specific amounts of Mantle (MNT) or Tether (USDT) towards each new project, resulting in the acquisition of new tokens.
#Bybit / #TheCryptoArk
Bybit is a top-three cryptocurrency exchange by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
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Nubank Cripto Integrates Talos’s Smart Order Routing System to Reduce Trading Costs
Partnership makes access to liquidity providers even more efficient, offering better buying and selling prices in Brazilian reais for cryptocurrencies in the Nu app
SÃO PAULO, Dec. 5, 2023 /PRNewswire/ — In another step towards developing the cryptocurrency trading platform Nubank Cripto, Nubank announced today its integration with Talos, the premier provider of institutional digital asset trading technology. With this partnership, customers who wish to trade crypto assets in Brazilian reais through the Nu app will benefit from reduced costs through Talos’s Smart Order Routing engine and connectivity to optimize trade execution across multiple liquidity providers.
“Nubank Cripto will continue to evolve as a platform that combines simplicity and robustness for cryptocurrency enthusiasts. With Talos, we have made further progress in this direction to offer users even more competitive prices securely and reliably when trading cryptocurrencies through an extensive network of settlement providers,” says Thomaz Fortes, leader of Nubank Cripto.
Currently, more than 60 partners make up the Talos Provider Network for cryptocurrency trading operations, including the Chicago Mercantile Exchange and the Chicago Board Options Exchange. Talos provides connectivity to venues that allow for FX, Spot, Futures, Perpetuals and Options trading while simultaneously providing advanced tooling for Portfolio and Treasury Management. Through Talos’s services, Nubank will have the ability to source liquidity from local providers in native Brazilian real pairs as well as from global partners for US dollar pairs and also token to token swaps enhancing the ability to deliver best price execution to Nubank’s customers.
“Digital assets have an important role to play in the financial future of Brazil, and we are proud to be working with Nubank to help expand access to digital asset liquidity in local currency to help deliver best price execution to their customers,” said Anton Katz, CEO and Co-Founder of Talos. “As Nubank grows in Latin America, Talos’s services can scale to support their customers in other countries and currencies in the future.”
Talos’s order execution management technology is designed to deliver advanced trading capabilities and greater efficiency to partner companies and their end customers. One of the key features is smart order routing to various liquidity providers with whom Nubank may work. The Talos platform for Nubank Cripto also includes algorithms developed exclusively for customer transactions, real-time market data integration, execution analysis, and compliance tools.
Nubank Cripto in constant evolution
The integration with Talos comes at a time of diversification in the offering of cryptocurrencies within the Nubank Cripto experience. In 2023 alone, 11 new digital asset options have been added for trading, including the latest addition: the stablecoin USDC. Currently, there are 15 cryptocurrencies available in the app, in addition to Nucoin, a utility token for the loyalty program.
The platform has made significant improvements in security by adopting Fireblocks’ software for managing digital asset operations on the blockchain. Through this widely recognized and adopted technology by leading crypto custodians worldwide, Nubank has developed its proprietary custodial solution for Nubank Cripto customers’ crypto assets. This initiative ensures the implementation of the strictest governance practices in the industry. Talos also integrates with Fireblocks, ensuring efficient and automated workflows.
Nu was born in 2013 with the mission to fight complexity to empower people in their daily lives by reinventing financial services.
We are one of the world’s largest digital financial services platforms, serving 90 million customers across Brazil, Mexico, and Colombia. As one of the leading technology companies in the world, Nu leverages proprietary technologies and innovative business practices to create new financial solutions and experiences for individuals and SMEs that are simple, intuitive, convenient, low-cost, empowering, and human. Guided by its mission, Nu is fostering access to financial services across Latin America.
Talos provides an institutional-grade technology infrastructure that supports the full lifecycle of digital assets trading including liquidity sourcing, price discovery, trade execution, settlement, lending, and borrowing. Engineered by a team with unmatched experience building institutional trading systems, the Talos platform connects institutions to various providers in today’s digital asset ecosystem – exchanges, OTC desks, prime brokers, lenders, custodians and more – through a single point of entry. This streamlines the entire trading process, mitigates intermediary risk, and provides institutions a clear path to best execution. For additional information, visit www.talos.com.
Talos Disclaimer: Talos offers software-as-a-service products that provide connectivity tools for institutional clients. Talos does not provide clients with any pre-negotiated arrangements with liquidity providers or other parties. Clients are required to independently negotiate arrangements with liquidity providers and other parties bilaterally. Talos is not party to any of these arrangements. Services and venues may not be available in all jurisdictions.
- US blockchain company, Constellation Network, Welcomes Leading Experts from Top Enterprises and U.S. Government Agencies to their Enterprise Advisory Board.
- Bybit Leads Green Revolution with 5ire Blockchain’s Stellar Market Debut
- Nubank Cripto Integrates Talos’s Smart Order Routing System to Reduce Trading Costs
- Unlocking Potential: Saudi Arabia’s ICT Market Insights Revealed by Infinium Global Research
- Milk Coin (MLK) is newly listed on Bybit, one of the largest crypto exchanges in global
- Bybit’s 5-Year Milestone: CEO Ben Zhou Reflects on Half a Decade of Crypto Leadership
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- Institutions Have Doubled their Bitcoin Allocations this Year, New Bybit Report Shows
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