Industrial Robot Market Future Growth Analysis and Challenges

Adoption of robots equipped with artificial intelligence in manufacturing industries is likely to accelerate the growth of global industrial robot market during the forecast timeframe.

In the last few decades, robots have revolutionized the industrial world. Industrial robots are now making their way into the larger business world. Robotic workers are now common sight in many sectors such as electronics manufacturing and automobile, now they are making foray into healthcare, food production, retail and other industries.

In an upcoming report, Transparency Market Research offers a 360-degree view of the global industrial robot market. The study attempts to elucidate all the vital strategies of growth and dynamics of the market. It also offers profiles of renowned companies that are operating in the global Industrial Robot market.

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Global Industrial Robot Market: Notable Developments

With regards to recent developments, the global industrial robot market manifest the following moves in the market

• In October 2018, DENSO, leading mobility supplier, acquired EASE Simulation Inc., a firm that specializes in the technology of automotive diagnostics. The full acquisition of EASE Simulation Inc., is expected to enable DENSO to improve the services that are offered within the scope of its non-automotive, Original Equipment Service, and aftermarket businesses

Denso Corporation, Daihen Corporation, Kawasaki Heavy Industries Ltd., Yaskawa Electric Corporation, Mitsubishi Electric Corporation, and Universal Robotics are some of the names to reckon with in the global industrial robot market.

Global Industrial Robot Market: Key Trends

The following factors are expected to propel the growth of global industrial robot market:

Rapid Pace of Industrialization Necessitates Usage of Robots to Maximize Profit

The global industrial robot market is forecasted to be triggered by numerous factors such as high cost of labor, declining price of industrial robots, expanding electronics industry and so on.

Dearth of efficient workforce together with high cost of labor has resulted in the rising adoption of industrial robotics in many of the industrial sectors. Usage of robotics in any business enhances productivity and, hence, the profitability of the company also increases. Companies now treat robots as its helping hand.

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The demand for industrial robots is reaching the sky as industrialization is taking place at such a high pace. The extraordinary surge in the global demand for industrial robotics is, as such, quite understandable.

Many businesses are coming up with extremely promising products such as service robots, intelligent warehouses, and self-driving trucks across all parts of the logistics value chain, Industrial robots are also used for packaging and pick-and-place services, and this is further pushing for industrial automation.

Global Industrial Robot Market: Geographical Analysis

Driven by the U.S., North American industrial robot has been experiencing an accelerated growth in installation of robotics for almost a decade now. A record number of 33,192 installations took place in 2017. The U.S. ranks third in terms of robotic density with 189 robots per 10,000 employees.

Germany occupies the fifth position in the global industrial robots market and first in Europe. The country exported nearly 60% of its robotics equipment in the year 2017.

With the production of around 153,000 units in 2016, Japan is the number one manufacturer of industrial robots worldwide. At present, Japan accounts for around 52% of the total supply of robotics globally. Japan exports industrial robots and its parts to countries like Republic of Korea, China, North America, and Europe.

Driven by electrical/electronics industry, Republic of Korea occupies the third position in global industrial robots market. By far, Republic of Korea has the highest robot density in the world with around 630 robots per 10,000 employees, which is even more than 8 times the average amount globally.

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Commercial Building Automation Market Types, Key Companies Analysis and 2024 Forecast Report

The global commercial building automation market is growing at a significant rate as the need for energy-efficient buildings in increasing. Companies and governments of various regions have shifted their focus on constructing green building which has led to the growth of commercial building automation market. Various initiatives such as mergers and acquisitions, launching improved products, and penetrating into new markets played a crucial role in the development of commercial building automation market.  The market is highly fragmented owing to the presence of large number of regional players. Few of the prominent players operating in the global commercial building automation market include Honeywell International Inc. (U.S), ABB Ltd. (Switzerland), Ingersoll Rand Plc. (Ireland), Robert Bosch GmbH (Germany), Hubbell Inc. (U.S), Siemens AG (Germany), Johnson Controls International plc. (U.S), Schneider Electric SE (France), and Cisco Systems Inc. (U.S) among others.

The commercial building automation market was valued at US$77.63 billion in 2016 and is anticipated to reach at US$108.49 billion by the end of 2024 globally. The market is expected to grow at a CAGR of 4.3% steadily during the forecast period. According to product segment, the global commercial building automation market is bifurcated into interfacing components, HVAC systems, light sensors, power supply, security & surveillance, and room automation. Among these, HVAC system segment is likely to dominate the market in the forecast period.

As per material, temperature and lighting control segments are expected to retain their positions in the forecast period 2015-202 too. The global commercial building automation market is divided into different regions which include Europe, North America, Asia Pacific, and some other regions.  Europe and North America are anticipated to hold the majority market share throughout the forecast period. Energy-efficiency and cost-effectiveness is one of the main driving factors for the growth of commercial building automation market in North America and Europe. Also, Asia Pacific is expected to grow at a significant rate owing to the increasing demand for this market.

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Construction Sector to Drive the Global Building Automation Market at a Significant Rate

The global commercial building automation market is expanding and is expected to see lucrative growth due to the continuous developments in construction sector. With the rising economic growth, demand for construction projects has increased across the globe. Regions such as Middle East and Africa possess a powerful base in terms of commercial building automation and therefore, is estimated to drive the market growth in the coming years. Rapid development in the construction sector has also led to reduce volumes of materials coupled with less use of power. Adding to this, the governments have imposed various strict guidelines over the effective utilization of resources as environmental pollution has been increasing over past few years. This is estimated to positively impact the commercial building automation development in the coming years.

Low Investment Return and High-value to Restrict Growth of Commercial Building Automation Market

Although the market is growing worldwide yet there are some challenges faced by commercial building automation system. The cost involved in maintaining, operating, and installing these systems is higher. Due to these high costs, the new entrants are finding it difficult to penetrate into the market. Also, the low rate of return is impeding the adoption of commercial building automation to the end-users. In the coming years, this factor is predicted to create some issues for the small players in commercial building automation market globally.

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NFC Chips Market Production and Revenue by Type

The global near-field communication (NFC) chips market has been prognosticated in a report by Transparency Market Research (TMR) to be highly consolidated with NXP Semiconductors securing a stronger share in the recent past. The company could sustain its position all through the course of the forecast period 2016-2024. The market includes other leading companies such as Qualcomm Inc., STMicroelectronics, and Broadcom Corporation that are actively involved in partnerships and mergers and acquisitions. This could intensify the competition in the market in the coming years. The report has shed more light on other factors that could impact the vendor landscape of the market.

TMR has envisaged the NFC chips market to post a whopping CAGR of 26.0% to attain a valuation of US$10.62 bn by the concluding forecast year. On the basis of application, the market could gain immensely from smartphones anticipated to secure a larger share in the near future. By region, Asia Pacific may snatch the dominance from North America while expanding at a 27.90% CAGR.

Application in Consumer Goods Surges with Improvement in User Interface Applicability

According to a lead analyst at TMR, the world NFC chips market could primarily collect growth from the rising application in consumer electronics. In the recent years, the application of NFC chips in consumer goods has increased considerably due to their ability to improve the applicability of user interfaces and simplify them. There could be substantial growth prospects created with the extensive use of NFC chips in smartphones as well.

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Rising disposable income of people and their swelling interest in luxury goods have been expected to augur well for the growth of the consumer electronics industry, which could in turn augment the demand for NFC chips.

Complexity in Product Designs Causes Future of NFC Chips to Look Dull

Lack of awareness about NFC chips and complexity in their product designs could hamper the adoption rate in the foreseeable future. However, with the improving demand for NFC-enabled point of sale terminal (POS) terminals around the globe, the international NFC chips market has been envisioned to draw a handsome growth from the aviation and retail industries.

Furthermore, the emergence of various NFC models and strong partnerships between organizations tokenizing cards using NFC chips and prominent banks could bring in lucrative opportunities in developed regions such as North America. Emerging regions such as Asia Pacific, on the other hand, have been prophesied to take advantage of the rising count of smartphone users.

Read More Press Release@  https://www.prnewswire.com/news-releases/bulk-material-handling-products-and-technologies-market-to-reach-us65-74-bn-by-2024--thanks-to-rising-automation-noted-tmr-300822733.html ​​​​​​​

The information presented in this review is based on a TMR report, titled “NFC Chips Market (Application - Smartphone, Television, Medical Equipment, and Car; Storage Capacity - 64 Bytes, 168 Bytes, 180 Bytes, and 540 Bytes; End User - Consumer Electronics, Automotive, Retail, Medical, and Aviation) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”

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IoT Device Management Market Study Report and In-depth Analysis 2020

The global IoT device management market features an increasingly fragmented landscape, finds Transparency Market Research (TMR). This is attributed to the presence of large numbers of players in the IoT device management market who are constantly adopting strategies to strengthen their shares. Constant entry of product developers and technology players over the past few years has upped the ante for incumbent players in the market. TMR observes that top players in the global IoT device management market are investing sizeable sums on research and development to consolidate their positions. A number of them have been also acquiring new companies with core competencies in communication technology, which might confer substantial gains to them in the coming few years. 

Some of the top players in the global IoT device management market are Oracle Corporation, Intel Corporation, IBM Corporation, Robert Bosch GmbH, and Google LLC. 

The global IoT device management market is projected to clock a phenomenal CAGR of 31.5% during 2017 - 2025. 

Among the various deployment types, public cloud accounted for the major share in 2016 in the IoT device management market. The prominence could be attributed to the extensive uptake among enterprises and consumers in the end-use industries. Moreover, the attractiveness of IoT device management for public clouds hinges on their cost-effectiveness.

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Regionally, North America led the global IoT device management market by holding the dominant share in 2016. The growth is driven by substantially rising uptake of smart industrial and automation technology in manufacturing and healthcare applications. However, Asia Pacific is likely to emerge with the most attractive CAGR over 2017–2025. 

 Ever rising Numbers of IoT Devices in Industrial Applications drives Demand 

The staggering rise in numbers of IoT devices in numerous industrial sectors, coupled with growing complexity of IoT security, is a key factor on which the evolution of the IoT device management market has pivoted on. Rapid strides in industrial IoT verticals of Industry 4.0. have increasingly bolstered the uptake in recent years. The IoT device management market is propelled by rapidly rising uptake of IoT-enabled technologies and devices. 

In emerging markets, the adoption has benefitted from the presence of substantial numbers of IoT device management distributors. Some of the key functions are configuration and associations, monitoring and diagnostics of connected devices, software updates and maintenance, and provisioning and enrolment. 

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Electric Vehicle Market Segments, Business Growth, End Users and Company Profiles

The global electric vehicle market is on the verge of a making a gigantic leap as product innovations, sustainable initiatives, and consumer demand comes together to create tremendous futuristic prospects. According to International Energy Agency (IEA), electric vehicles will make 40% of all passenger vehicles by 2040. The estimation may not be surprising to most as electric vehicle makers like Tesla have already made foray into new areas like trucks for off-road transportation, and urban transportation demands like taxis. Moreover, Chinese electric bus markers have won promising contracts in Europe, wherein electric bus adoption is on a significant rise. Moreover, demand for electric vehicle is promising for global manufacturers of vehicles.

Global Electric Vehicle Market: Notable Developments

As part of Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles (FAME), the Indian government has announced acquisition of 7,000 electric buses, 55K four-whellers, and 10,00,000 two-wheelers. The Indian government will spend over $1.4 bn to acquire vehicles that operate on lithium-ion batteries, and/or on electric power trains. The investment proposed in October 2019, will take over place over next three years, till 2022.

The share of electric vehicles surged to 42% of all new sales in Norway in 2019. The year really turned electric for Tesla in the country, wherein positive incentives for electric adoption continue to drive growth for the company with shares rising to 42% from 31% in 2018. The company sold a total of 18,798 cars in the country, with its model 3 noting the highest registrations.

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According to China Passenger Car Association, over 20.7 million passenger vehicles were sold in China in 2018. China, the biggest market for automobiles witnessed a worrying 7.4% drop in sales during 2019. This drop came on mostly on the back government’s plans to reduce incentives for electric vehicles for consumers. Consumers flocked to buy electric vehicles throughout the year resulting in 5.1% increase in the beginning year. However, as soon as the subsidies were removed, it resulted in lower sales for six-consecutive months.

Global Electric Vehicle Market: Drivers and Restraints

The electric vehicles laden with connected entertainment systems, sensors, and automation have sparked new interest among consumers. The global auto market is witnessing a held-back demand from many consumers as the horizon clearly points towards adoption of electric vehicle by 2025. Globally, the mandate for Zero Emission Vehicle dictates that the vehicle should make up 10% of total sales by 2025. With the likes of Mercedes Benz, Toyota, GE, and BMW lining up new models, the adoption of electric vehicle will likely be higher even without the government push.

Global electric vehicle market promises significant growth as concerns for sustainable growth rise around the world. Governments around the world have pushed respective industries to manufacture, and innovate with advanced electric models. The rising demand from consumers, and public entities alike is a major positive for the government. At first, the adoption of electric vehicle will witness highest growth in public transportation with muncipalties like Glasgow, New York, Shanghai, and Delhi making notable acquisitions to expand scope of electric vehicles. The rising scale of economies for electric vehicle manufacturers will eventually drive growth of the electric vehicles in the near future.

Read More Press Release@  https://www.prnewswire.com/news-releases/global-medication-dispensing-and-packaging-systems-market-to-grow-alongside-advancements-in-medical-delivery-practices--transparency-market-research-301076633.html ​​​​​​​

Global Electric Vehicle Market: Geographical Analysis

The global electric vehicle market report will cover all regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, the North America region will witness major growth as the research and development in the region has made way for significant uptakes in infrastructure, costs, and product innovation. Moreover, conventional investment in electric infrastructure in Scandinavian countries are expected to drive growth of electric vehicles in Europe. Despite tremendous innovation among Chinese electric vehicle makers, their reliance on subsidies in a concern in the domestic market. However, Chinese electric vehicle makers are witnessing a major adoption of their electric buses in Europe, and in the US as well, wherein they present lucrative opportunities due to cost-effectiveness.

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Analysis of Potential Impact of COVID-19 on Electric Vehicle Traction Motor Market

An electric vehicle traction motor utilizes electric energy from the battery of the vehicle, which is installed in an electric vehicle in order to propel it. Traction motors are capable of providing required torque for propulsion of electric vehicles.

Traction motor is a vital component of electric vehicles, thus rising demand for electric vehicles is fueling the demand for electric vehicle traction motors. Stringent emission norms and rise in demand for electric vehicles coupled with heavy incentives provided by governing bodies for electric vehicles are fueling the demand for electric vehicles. Rapid expansion of electric vehicle charging infrastructure, decrease in electric vehicle prices due to reduction in battery prices, availability ultra-fast chargers, and expected ban over fuel powered vehicles are propelling the demand for electric vehicles, which in turn is likely to propel the demand for electric vehicle traction motors.

Electric vehicles are quiet expensive for consumers across several lower per capita income countries, such as countries from Africa. Consequently, consumers do not prefer electric vehicles. This, in turn, is primarily restraining the global electric vehicle traction motor market.

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The global electric vehicle traction motor market can be segmented based on electric vehicle type, motor type, vehicle type, and region. Based on electric vehicle type, the global electric vehicle traction motor market can be classified into four segments. Battery electric vehicles, also known as zero-emission vehicles, are witnessing a surge in demand, which is attributed to government incentives leading to lower cost of battery electric vehicles, stringent emission norms implemented over fuel powered vehicles, and rising awareness among consumers about overall advantages of battery electric vehicles. Moreover, rapid expansion of electric vehicle charging infrastructure is propelling the demand for battery electric vehicles and hence, the battery electric vehicle segment is projected to lead the market during the forecast period.

In terms of motor type, the global electric vehicle traction motor market can be bifurcated into permanent magnet synchronous motors (PSM) and asynchronous motors (ASM). In terms of vehicle type, the global electric vehicle traction motor market can be classified into passenger vehicle and commercial vehicle. Several passenger vehicle manufacturers are manufacturing electric vehicles. Several manufacturers also manufacture commercial electric vehicles, such as trucks manufactured by Tesla. Rising demand for electric vehicles and expected obligations over fuel powered vehicles in the near future are likely to boost the demand for commercial vehicles. The passenger vehicle segment accounted for a major share of the market, in terms of revenue, in 2018.

In terms of region the global electric vehicle traction motor market can be segmented into five prominent regions. Asia Pacific held a major share of the global market, in terms of revenue, in 2018, which is attributed to boost the demand for electric vehicles across China and Japan. Presence of electric vehicle manufacturers coupled with electric vehicle battery manufacturers, leading to lower cost of electric vehicles, has fueled the demand for electric vehicles across China and Japan.

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Moreover, other countries in Asia Pacific, such as India, Pacific countries, and those in ASEAN, are rapidly expanding electric vehicle charging infrastructure, in order to increase sales. Consequently, demand for electric vehicles is projected to rise significantly during the forecast period, which in turn is likely to propel the electric vehicle traction motor market. Asia Pacific is followed by Europe and North America, in terms of share of the global market.

Key players operating in the global electric vehicle traction motor market are Zytek Group Limited, Equipmake Ltd., Hitachi Automotive Systems Americas, Inc., SERVAX, AVID Technology Limited, RETORQ Motors Ltd., Copper Rotor Induction Motor, ABB, Robert Bosch GmbH, WEG, and Magnetic Systems Technology.

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Automotive Smart Gear Actuator Market Growth, Future Opportunity & 2027 Forecast

• Increasing demand for transmission systems and their components that enable to enhance the fuel economy of the vehicle is anticipated to drive the global market for smart gear actuators. Automated manual transmission (AMT) systems incorporate smart gear actuators. These actuators enable the vehicle driver to shift the vehicle mode from automatic to manual and vice versa.
• The smart gear actuator, or electronic actuator, is designed as a device for transmission. Moreover, a smart gear actuator can also function as a clutch actuator for an AMT system and a pump actuator for transmission of lubrication to facilitate cooling operations in a vehicle.
• A smart gear actuator has a wide range of applications including actuator for an electric motor for electric vehicle (EV) to start and stop the EV. The smart gear actuator can be easily customized to meet diverse customer requirements.

Key drivers of global automotive smart gear actuator market

• Stringent regulations are mandating vehicle makers to embed their vehicles with the technological solutions in order to boost vehicle economy, which is attributed to the expansion of the automotive smart gear market, globally. Automated drive technologies, variable torque transmission systems, and automated continuously variable transmission systems, which incorporate the smart gear actuator, are being increasingly adopted in passenger as well as commercial vehicles. These technologies increase fuel economy as the time required for manually operating a gear is reduced considerably, which in turn reduces fuel consumption.
• Increasing preference for automated manual transmission (AMT) systems among consumers is propelling the smart gear actuator market globally. The AMT system consists of a clutch actuator assembly, a gear shift actuator assembly, and a gearbox ECU. The ECU utilizes information collected form gear actuators to determine which/ when the next gear change should take place. After ECU has determined the need for change of gear, it engage/ dis-engage the clutch to facilitate changing of the gear. All this operation is done automatically when vehicle in driving in automated transmission mode. Therefore, rise in demand for smart gear actuator is attributed to its increasing use in AMT systems. This, in turn, is driving the market for automotive smart gear actuator market.
• Increasing awareness about climate change and rising air pollution are compelling government organizations to enact stringent regulations to reduce vehicle emissions. When a driver is operating a clutch, the vehicle runs in idle mode and fuel is consumed by vehicle engine. Smart gear actuators reduce the operational time for a clutch, thereby reducing the fuel consumption of a vehicle. This, in turn, is driving the global automotive smart gear actuator market.

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Europe to account for significant share of global automotive smart gear actuator market

• Europe is the home to majority of the pioneers and aftermarket players in the automotive industry. Therefore, the region witnesses intense competition among automakers and aftermarket players. Moreover, companies spend significant revenue on research and development activities to enhance fuel economy and reduce vehicle emissions. For instance, Robert Bosch has developed an electronic actuator that facilitates recording vehicle speed, gear position, clutch position, and is responsible for clutch actuation in order to change vehicle gear automatically in an AMT system. Furthermore, majority of countries in Europe have technologically mature markets. Consumers in the region are more accepting toward newer technologies. The aforementioned factors are fueling the automotive smart gear actuator market in Europe.

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