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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

Robotics market to exceed $150 billion by 2025, says report

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The global robotics market is set to exceed $150 billion by 2025, according to a new report, Disruption in Human-Robot Collaboration.

PreScouter, a Chicago-based research intelligence company, has released a detailed report on the recent advances in robotics and how these advances will be disrupting the workforce, promoting improved collaboration between man and machine.

The researcher says the global robotics market will exceed $150 billion by 2025 and the industrial robot sector will account for nearly $13 billion of that in North America alone. [Read more…] about Robotics market to exceed $150 billion by 2025, says report

Formant acquires Formation to add robot remote control to its fleet management solutions

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Formant, a robot fleet management software company, has acquired Formation, a robot teleoperation startup based in Pittsburgh.

Formant will integrate the startup’s solution to enable customers to remotely control their robots through its browser-based, cloud-enabled robot fleet management system.

According to Formant’s CEO, Jeff Linnell, adding teleoperation to Formant’s offerings will create an end-to-end solution that robots-as-a-service companies can leverage to scale their fleets, enabling them to easily manage thousands of robots. [Read more…] about Formant acquires Formation to add robot remote control to its fleet management solutions

Collaborative robot market forecast to grow beyond $11 billion by 2030

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The collaborative robot market will exceed $11 billion by 2030, representing 29 percent of the total industrial robot market, according to ABI Research.

Buoyed by early innovators and adopters, the collaborative robotics market will become increasingly mainstream over the next 10 years.

The new analysis from global tech market advisory firm, ABI Research finds that the yearly revenue for cobot arms will reach $11.8 billion by 2030, an enormous increase from $711 million in 2019. [Read more…] about Collaborative robot market forecast to grow beyond $11 billion by 2030

Total strengthens presence in industrial lubricants with new acquisitions

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Total Lubrifiants has strengthened its presence in the industrial lubricants market with the acquisition of a number of business units from Houghton International.

Total has acquired the aluminum hot rolling oil, steel cold rolling oil and tinplate rolling oil activities in the North American and European Economic Area markets from Houghton.

The transaction includes the associated technical support services in both regions. [Read more…] about Total strengthens presence in industrial lubricants with new acquisitions

Drones expected to grow to $100 billion market as they take off in commercial and industrial sectors while delivery market beckons

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Small Unmanned Aerial Systems (sUAS), more commonly referred to as drones, have been in the public eye for well over this decade and a hype cycle developed around its applications for the consumer and commercial space.

The high-profile failure of major drone manufacturers and software providers, such as US firm Airware in 2018, somewhat tempered initial enthusiasm, causing early projections from industry organizations such as the Association for Unmanned Vehicle Systems International (AUVSI) to look overly optimistic.

However, according to a new report from global tech market advisory, ABI Research, commercial drone usage, especially in the industrial space, will be a source of accelerating growth throughout the next decade with $101 billion in revenue being created annually by 2030 across the commercial, military, civil, and consumer sectors. [Read more…] about Drones expected to grow to $100 billion market as they take off in commercial and industrial sectors while delivery market beckons

Industrial measurement and testing: Faster commissioning results in quicker time to market

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Bosch Rexroth provides insight into measurement and testing processes

To ensure consistency, repeatability, quality and compliance with regulations, many companies employ rigorous testing and measurement processes.

Kraus automation technology (KAT), specialises in providing tailored testing systems for life-span, fatigue and material tests.

To offer testing systems which meet the needs of their diverse customer base, KAT use National Instruments’ LabView software to create custom user interfaces for engineers. [Read more…] about Industrial measurement and testing: Faster commissioning results in quicker time to market

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

Robert Bosch Venture Capital leads growth funding round in MegaRobo

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Robert Bosch Venture Capital, the corporate venture capital company of the Bosch Group, is leading a growth financing round in MegaRobo. 

The Chinese high-tech robotic company with over 100 employees is headquartered in Beijing and integrates cutting-edge machine vision and artificial intelligence (AI) to provide modular automation solutions for lab automation, smart retail and light industrial sectors.

“MegaRobo’s technology increases efficiency in production automation. Already today, robots from MegaRobo are used for special applications in the end-of-line production of household appliances at Bosch”, says RBVC managing director Dr Ingo Ramesohl.

[Read more…] about Robert Bosch Venture Capital leads growth funding round in MegaRobo