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Global cobot market revenues exceed $1B in 2023; further growth expected until 2028

Automation Mag

According to a report by Interact Analysis, a market intelligence firm, the global collaborative robot market exceeded $1 billion in revenues during 2023, despite overall demand recovering more slowly than expected post-pandemic. percent in 2023, despite a challenging year for manufacturing, tough economic conditions, and supply chain issues.

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Interact Analysis predicts strong global cobot market growth

Robotics Business Review

Global cobot market revenues are set to increase at >20% a year from 2024 to 2028. Credit: Interact Analysis The global collaborative robot (cobot) market topped $1 billion in revenues during 2023, despite overall demand recovering more slowly than expected post-pandemic, according to new data from Interact Analysis.

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OCR Canada launches a new automation solution to try and streamline production processes

Canadian Manufacturing

TORONTO — OCR Canada, a provider of supply chain and logistics technology solutions, has announced the launch of its new industrial automation solutions, designed to help businesses optimize their production processes and increase efficiency. billion by 2028, at a Compound Annual Growth Rate (CAGR) of 9.8%

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The Connectivity Revolution: How the Emergence of 5G Networks Are Reshaping Manufacturing

21st Century Tech

From manufacturing to supply chain strategies and logistics, IoT sensors can harness the potential of 5G to create a connected, intelligent ecosystem, transforming the way companies operate. 5G is 250 times more responsive which is an important advantage for an autonomous robot or vehicle. When will we see 6G deployed?

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Will autotech ventures race east in 2024?

Robotics Business Review

Source: LinkedIn As The Robot Report reported last October, one of the biggest autotech stories of the year was the stalling of Cruise after California’s Department of Motor Vehicles suspended its driverless testing license. According to Markets & Markets , uncrewed forklift technology could grow to more than $8 billion worldwide by 2028.

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5G’s role in the adoption of enterprise augmented reality

Control Engineering

Instead, 53% of the respondents believed that there is more time to adjust to the changes 5G will bring, believing that the impact will start becoming relevant in 3 years’ time, evolving during a period that goes until 2028-2029. Robotics and Computer Integration Manufacturing , 58. [3] 3] AREA 5G and AR research database. [4]

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Back In Action: An MCMT Special

Dinesh Mishra

PEB manufacturing is also another industry which is witnessing a lot of investments due to the increase in demand for warehousing requirements and improvement of logistics industry. Billion by 2028, exhibiting a growth rate (CAGR) of 12.2% during 2023-2028. With the incubation of robotics and Industry 4.0,