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.
– Industrial Robot Controller Market
– Parts Washer for Robotic Work Cell Market
– Robot Track Motion Systems Market
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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.
– 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.
– Intelligent Surgical Robot Market
– 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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ChainSwap, the pioneering multi-chain decentralized exchange (DEX), has unveiled a groundbreaking feature that sets a new standard for decentralized finance (DeFi). Today, ChainSwap proudly announces the launch of its intra-chain swap capability, a monumental advancement in enabling seamless transactions across six major blockchain networks.
As the first of its kind, ChainSwap empowers users with the ability to seamlessly swap assets within the same blockchain, enhancing user retention and eliminating the need for multiple wallets across various chains. This revolutionary development revolutionizes the DeFi
landscape, offering users unparalleled freedom to traverse across different chains within a single platform.
ChainSwap stands as the epitome of decentralization, providing a one-stop-shop solution for multi-chain swaps. Powered by cutting-edge Cross-Chain Interoperability Protocol (CCIP) technology, ChainSwap ensures smooth and secure transactions across all compatible
blockchains, including Optimism, Ethereum, Arbitrum, Avalanche, Polygon, and Base.
With the launch of ChainSwap’s intra-chain swap functionality, users can now effortlessly exchange assets within their preferred blockchain, heralding a new era in digital asset transactions. This monumental achievement marks a significant milestone in the evolution of decentralized finance, propelling ChainSwap to the forefront of the industry.
The post ChainSwap Revolutionizes Multi-Chain DeFi with Intra-Chain Swaps appeared first on HIPTHER Alerts.
Blockchain Press Releases
Tiger Brokers (HK) officially launches virtual asset trading services, leading the way in Hong Kong’s online brokerage industry
Effortlessly manage traditional securities and virtual assets with one app Tiger Trade: tailored to meet diverse investment needs
- Professional investors can now trade 18 virtual assets, including Bitcoin and Ethereum, through the Tiger Trade app.
- The one-stop platform enables seamless management of traditional securities and virtual assets, fostering more flexible and diversified asset allocation strategies.
HONG KONG, May 6, 2024 /PRNewswire/ — Tiger Brokers (HK) (“Tiger Brokers (HK)” or “Tiger Brokers”) announced the launch of its virtual asset trading services, becoming one of the first online fintech brokers in Hong Kong to offer a single platform that allows trading and managing both traditional securities and virtual assets. Professional investors in Hong Kong can now use Tiger Trade, Tiger Brokers’ flagship investment app, to trade 18 virtual assets including Bitcoin (BTC) and Ethereum (ETH), alongside stocks, options, futures, US Treasury bonds, funds, and other global assets, all at an affordable cost. This eliminates the need for multiple accounts across different brokers and platforms, making global asset allocation simpler and more convenient.
John Fei Zeng, Chief Financial Officer and Director of Tiger Brokers stated: “We are honored to be among the first fintech brokerage firms in Hong Kong to introduce virtual asset trading, leading the way in meeting investors’ evolving needs. As investors’ asset allocation requirements become increasingly diverse, our expanded product portfolio will help them seize various market opportunities. Our unified trading platform allows investors to trade and manage different types of investments seamlessly, enhancing user experience and boosting investment efficiency.”
He added: “With Hong Kong’s efforts to develop into a Web3.0 hub, we are confident in its vision. Hong Kong is one of the pioneering international financial centers introducing comprehensive regulations for virtual asset and fostering a trading-friendly environment. We aspire to bolster Hong Kong’s competitiveness in the global financial landscape through our contributions.”
Secure, convenient, and affordable virtual asset trading experience
Having previously secured an upgrade to its Type 1 license conditions from the Securities and Futures Commission of Hong Kong (“SFC”), Tiger Brokers is aiming to offer professional investors secure virtual asset trading services, strictly adhering to legal and regulatory requirements.
Tiger Brokers continues to offer competitive trading rates, with virtual asset trading fees at only 0.2% of the transaction value, and custody fees waived. Unlike stock trading, virtual assets are settled instantly and can be traded 24/7. All registered users in Hong Kong can view real-time quotes, as well as top gainers and losers of virtual assets, via the user-friendly Tiger Trade interface, keeping abreast of market conditions anytime, anywhere. Furthermore, the Tiger Trade App enables instant T+0 exchange between Hong Kong dollars and US dollars.
Currently, Tiger Brokers’ virtual asset trading services are available only to professional investors. Eligible clients, including Hong Kong residents with over HKD 8 million in investment portfolio or corporate entities with assets exceeding HKD 40 million, can submit professional investor application on Tiger Trade. Customers also have the option to schedule an in-person visit to the Tiger Brokers office, where professional representatives will assist customers in completing the account opening and certification process. Looking ahead, Tiger Brokers plans to extend its virtual asset trading services to retail investors, subject to regulatory approval. Additionally, the company is considering the introduction of virtual asset spot withdrawal and deposit services.
Beyond virtual asset spot trading, Tiger Brokers also offers trading of U.S.-listed bitcoin spot ETFs and Hong Kong-listed spot bitcoin and ether ETFs to Hong Kong investors. Since entering the Hong Kong market just over a year ago, Tiger Brokers has won widespread acclaim from local users through the introduction of numerous innovative products and services. Recently, the SFC granted Tiger Brokers a Type 9 license for asset management services. With this, Tiger Brokers can offer a suite of asset management services, such as dedicated account services for both retail and professional investors, and collective investment scheme management for professional investors, thereby providing comprehensive support for the diverse investment needs of both retail and professional investors.
About Tiger Brokers (HK)
Tiger Brokers (HK) Global Limited (Central number: BMU940) holds type 1, 2, 4, 5 and 9 licenses of the SFC. Starting from 30th November 2022, with Tiger Trade, Tiger Brokers’ flagship app, Hong Kong users can trade financial products from major markets around the world, such as Hong Kong stocks, warrants, options, US stocks, US fractional shares and ETFs, etc., providing a one-stop solution to their investment needs. In the future, we will continue to expand our trading markets and categories to better serve Hong Kong investors.
About Tiger Brokers
Tiger Brokers (Nasdaq: TIGR), founded in 2014, is a leading online brokerage group with a focus on redefining global investing with technologies for the next generation.
Since our inception, the company has relentlessly offered a superior user experience to let everyone enjoy efficient and smart global investing, by bringing a multitude of quality financial products and services across brokerage, employee stock ownership plan (ESOP) management, investment banking, wealth management, investor community, and investor education in our pursuit of becoming a world-leading online brokerage group.
We strive to elevate financial technology R&D to a new level. While we inherit the best traditions from the financial sector and blend them with the best minds of tech experts, we develop our own technology infrastructure—an aggregation that enables multi-currency trading of various products across markets, guaranteeing our reliable, secure, and scalable services accessible to all with low latency.
Currently, we serve over 10 million users and over 2 million account holders worldwide on our flagship platform “Tiger Trade”, own 78 licenses and qualifications in different markets, and have over 1,000 employees on the team in Hong Kong, Singapore, New Zealand, the US, Australia, and Mainland China. In 2019, the company was listed on Nasdaq as UP Fintech Holding Limited under the ticker TIGR.
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Blockchain Press Releases
Bitget’s Blockchain4Youth Celebrates 1st Anniversary, Educated Over 6,000 Participants Worldwide
VICTORIA, Seychelles, May 6, 2024 /PRNewswire/ — Bitget, a leading crypto exchange and web3 company, announces the first anniversary of its Blockchain4Youth program and launches recap videos of the program. The initiative celebrated a year of driving Web 3.0 adoption among the youth, staying true to Bitget’s core principles of innovation, education, and empowerment. Bitget envisions a more equitable future driven by the crypto revolution, and Blockchain4Youth is a testament to that vision.
Over the past year, Blockchain4Youth has engaged over 6,000 participants and delivered over 54 campus lectures and workshops worldwide. Various events took place in Asia, the Middle East, Oceania, Europe and South America. The courses connect young participants with the tools and knowledge to understand and utilize blockchain technology, and over 2,000 certificates were issued to participants who completed the courses and passed the test.
The program’s ongoing collaborations with prominent influencers and over 51 universities, including University College London (UCL) in the United Kingdom, National Technological University in Argentina, Royal Melbourne Institute of Technology in Australia, National Taiwan University’s Blockchain Club, Ateneo De Manila University in the Philippines and many more. The program’s wide reach reinforces the company’s dedication to advancing blockchain education and empowerment initiatives.
Launched in May 2023 with $10 million committed over the following 5 years, Blockchain4Youth has quickly become a beacon of opportunity for Millennials and Generation Z. A study conducted by Bitget indicates that Millennials and Generation Z are pivotal in shaping a crypto-friendly future, with Millennials accounting for 46% of crypto enthusiasts.
Gracy Chen, Managing Director of Bitget, expresses, “Blockchain4Youth’s journey has been remarkable, and the program has transformed blockchain education, making it accessible and practical for the leaders of tomorrow,” remarks Chen. “Our dedication has not only been about imparting knowledge but about cultivating a vibrant community ready to pioneer the transformative applications of blockchain.”
Blockchain4Youth’s future plans include providing more scholarships worldwide and launching more online courses and content featuring different influencers in the field on crypto-related topics to further garner youngster’s attention.
About Bitget
Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.
For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
View original content:https://www.prnewswire.co.uk/news-releases/bitgets-blockchain4youth-celebrates-1st-anniversary-educated-over-6-000-participants-worldwide-302136617.html
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