Global Used and Refurbished Robots Market is Pegged to Attain Valuation of US$ 5,080.2 Million by 2031

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Global Used and Refurbished Robots Market is Pegged to Attain Valuation of US$ 5,080.2 Million by 2031

April 19th, 2023 Astute Analytica Leave a comment

The used and refurbished robots market has significant potential, driven by cost savings and sustainability concerns. With a growing demand for automation across various industries, refurbished robots offer an affordable alternative to new ones. Additionally, the increasing emphasis on circular economy practices encourages the reuse of products, making the refurbished robot market an attractive option for companies seeking sustainable solutions.

Global used and refurbished robots market is estimated to witness a rise in revenue from US$ 1,909.7 Mn in 2022 to US$ 5,080.2 Mn by 2031, at a CAGR of 11.5% during the forecast period 2023-2031.

The automotive industry is the largest consumer of used and refurbished robots, accounting for a market share of 38.1% in 2022. This is followed by the electrical and electronics industry, which accounted for a share of 21.6%. The food and beverage industry is also expected to witness significant growth in the demand for used and refurbished robots, driven by the need for automation in various manufacturing processes.

In terms of geography, the Asia-Pacific region is expected to dominate the market for used and refurbished robots, accounting for the more than 62% share in terms of both value and volume. This can be attributed to the presence of several developing economies in the region, such as China, India, and South Korea, which are investing heavily in automation solutions to improve their manufacturing processes and remain competitive in the global market.

The growth of the used and refurbished robots market can also be attributed to the increasing adoption of advanced technologies such as machine learning, artificial intelligence, and the Internet of Things (IoT). These technologies are being integrated into refurbished robots to enhance their capabilities and improve their performance. Additionally, the environmental benefits of reusing and recycling industrial equipment are also driving the growth of the market.

Used and Refurbished Robots Market: A Cost-Effective and Sustainable Solution for Assembly Lines, According to Astute Analytica Study

According to a study by Astute Analytica, assembly lines across various industries employ over 37.6% of used and refurbished robots. The examination of these robots reveals that their total cost of ownership (TCO) can be significantly lower compared to new robots; used robots boast up to 30% lower TCO, while refurbished robots can offer up to 50% reduction. The lower initial purchase price for used or refurbished robots contributes to these savings, but the most substantial cost reductions stem from decreased maintenance and operational expenses.

Used and refurbished robots are especially appealing to assembly line end-users across the global used and refurbished robots market due to their exceptional precision, speed, and repeatability—essential factors for achieving production goals in such applications. These robots are often meticulously maintained and outfitted with cutting-edge technology, enabling them to effortlessly execute complex tasks. Since they are typically designed for specific functions and have demonstrated effectiveness in analogous applications, integrating them into existing production lines is a straightforward process.

Moreover, used and refurbished robots present a more sustainable alternative to purchasing new ones in assembly line applications. Astute Analytica’s analysis indicates that a considerable number of these robots are derived from retired or decommissioned equipment that can be repurposed and reused. Consequently, this approach diminishes the demand for new resources and curtails waste, making it an eco-friendly option for manufacturers.

Asia Pacific Emerges as a Major Hub for Used and Refurbished Robots Market, Driven by Import from Western Countries

The Asia-Pacific region has emerged as a major hub for the used and refurbished robots, with the region expected to witness an increase in market share from 62% in 2022 to 66.4% by 2031. This growth can be attributed to the region’s highly cost-sensitive market, where most countries are known to buy used industrial robots at lower costs to save overall expenses and improve profit margins.

Countries such as India, China, Indonesia, and Vietnam are major consumers of used and refurbished robots market in the Asia-Pacific region. India, for instance, has a large manufacturing sector, and the demand for automation in this sector has been growing in recent years. Refurbished robots are often preferred by Indian manufacturers as they offer a cost-effective solution to improve manufacturing processes.

China, on the other hand, is the world’s largest market for industrial robots, with a significant demand for used and refurbished robots in various industries. The country’s industrial sector has been growing rapidly, and the demand for automation solutions is expected to rise further, driving the demand for used and refurbished robots.

Similarly, Indonesia and Vietnam are also witnessing a significant growth in the adoption of used and refurbished robots. These countries are investing heavily in automation solutions to improve their manufacturing processes and remain competitive in the global market.

According to a report by Astute Analytica, most of these countries in the Asia-Pacific region import used and refurbished robots from North American and European countries. This is because these regions have a large inventory of used industrial robots, which are often sold at a lower cost than new robots. Furthermore, the robots imported from these regions are usually of high quality and have been refurbished to meet the required standards.

Market Share Analysis: Top 4 Players Contribute over 39% Revenue to Global Used and Refurbished Robots Market

The global Used and Refurbished Robots market is highly competitive and consists of several players. The market players are adopting various competitive strategies such as mergers and acquisitions to strengthen their market position. The four major players in the market hold a cumulative market share of close to 39.0%, indicating high competition in the market.

ABB is the largest seller of used and refurbished robots, accounting for over 13% market share. Fanuc follows ABB with more than 11% market share. Other key players in the market include Kuka, Autotech, Alliance Robotics, The Robot Company, Kawasaki, Antenen Robotics, MASTER Robotics, CyberWeld, Surplex, Comau, EPSON, Global Robots, and IRSA Robotics, among others.

The global Used and Refurbished Robots market is witnessing intense competition among major players, which is driving market growth. The leading players in the market are adopting various growth strategies to maintain their market position. Some of the strategies adopted by these players include mergers and acquisitions, partnerships, collaborations, and product innovations.

ABB, the largest seller of used and refurbished robots, is focusing on product innovation and strengthening its position in the market. The company is developing new products and technologies to meet the evolving demands of the customers. ABB has also acquired several small-scale manufacturers to expand its market share and strengthen its position in the market. For instance, In 2021, ABB acquired ASTI Mobile Robotics, a Spanish manufacturer of autonomous mobile robots, to expand its position in the mobile robot market.

Some of the Top Market Players Are:

Autotech Robotics
Eurobots
Global Robots
CyberWeld
IRSA ROBOTICS
Surplex
IRS Robotics
Kuka
ABB
Fanuc
Other Prominent players

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Global Oil Condition Monitoring Market to Worth US$ 1,496.3 Million by 2031

April 18th, 2023 Astute Analytica Leave a comment

The oil condition monitoring market is a rapidly growing industry that utilizes various technologies such as infrared spectroscopy, lubricant condition monitoring, and wear debris analysis to assess the health of machinery and equipment. This market is driven by the need for efficient maintenance and reducing downtime costs in various industries, including manufacturing, automotive, and aerospace. The market is expected to continue to grow due to the increasing demand for predictive maintenance solutions.

The global oil condition monitoring market is experiencing significant growth, with its valuation reaching US$ 862.7 million in 2022 and a projected market size of US$ 1,496.3 million by 2031. The market is set to expand at a CAGR of 6.35% during the forecast period from 2023 to 2031.

The rapid growth is attributed to various factors, including increasing demand for machinery reliability, rising concerns over environmental protection, and advancements in technology. Oil condition monitoring is essential in ensuring machinery reliability by monitoring the quality of lubricants used in machines, thus preventing breakdowns and unplanned downtime. In a survey conducted by Plant Engineering, 77% of respondents said that predictive maintenance, including oil analysis, helped reduce their maintenance costs. A report by Astute Analytica found that the adoption of oil condition monitoring technologies helped a company in the oil and gas industry save $300,000 annually in maintenance costs and increased equipment availability by 5%.The current landscape of the global oil condition monitoring market is highly competitive, with several key players operating in the market. Some of the major players in this market include Parker Hannifin Corporation, General Electric, SGS SA, Intertek Group PLC, and Bureau Veritas SA. These companies offer a range of oil condition monitoring products and services such as spectroscopy, particle counting, viscosity measurement, and elemental analysis.

One of the major factors driving the growth of the oil condition monitoring market is the increasing demand for predictive maintenance. With the help of oil condition monitoring, companies can predict potential problems and prevent equipment failure, which can result in costly downtime and repairs. Furthermore, oil condition monitoring helps companies to reduce their maintenance costs and increase their equipment lifespan. Additionally, the development of advanced technologies such as cloud-based oil condition monitoring systems and the internet of things (IoT) is expected to create new opportunities for market players in the future.

As per Astute Analytica, the global market offers attractive investment opportunities. Companies that focus on developing advanced technologies such as cloud-based oil condition monitoring systems and the IoT are likely to be well-positioned for future growth.

Key Findings of the Global Oil Condition Monitoring Market

By Sampling Type: The offsite lab sampling type is expected to capture over 55% of the market share, primarily due to the accuracy of results obtained from laboratory testing.
By Monitoring: The online segment is anticipated to generate more than 54% market revenue, as it allows for real-time monitoring of lubricants and early detection of anomalies in their condition.
By Methods: The oil conditioning sensors segment is expected to hold over 56% market share, thanks to their accuracy and reliability in detecting any anomalies in the lubricants’ condition.
By Application: The combustion engine segment is projected to hold over 28% market share, due to the widespread use of combustion engines in various industries.
By Industry: The oil & gas industry is expected to hold more than 19% revenue share, as a result of significant investments made by the industry in predictive maintenance technologies.

Online Monitoring to Remain the Most Popular and Contribute Over 54% Revenue to Global Oil Condition Monitoring Market

Online monitoring is dominating the global market due to its numerous benefits over traditional methods of oil condition monitoring such as its ability to provide real-time monitoring, enabling early detection of potential equipment failures, thereby reducing downtime and maintenance costs. It also facilitates remote monitoring, eliminating the need for on-site personnel and providing access to data from anywhere in the world.

Another factor contributing to the dominance of online oil condition monitoring is the growing adoption of Industry 4.0 and the Internet of Things (IoT) in various industries. With the increasing use of sensors and connected devices, it has become easier to collect and analyze data in real-time, making online oil condition monitoring a preferred choice. Moreover, companies opt for online oil condition monitoring to ensure the reliability of their equipment, prevent unplanned downtime, and reduce maintenance costs. They also see it as a way to improve operational efficiency, optimize equipment performance, and extend the lifespan of their assets.

According to a survey conducted by Astute Analytica on the oil condition monitoring market, the majority of respondents (57.8%) preferred online oil condition monitoring over traditional methods. The survey also found that the most significant drivers for adopting online oil condition monitoring were cost savings (29.1%), increased equipment reliability (23.5%), and improved maintenance planning (17.2%). The survey also revealed that the primary application areas for online oil condition monitoring were in the manufacturing and energy sectors. In the manufacturing sector, online oil condition monitoring was used to monitor critical equipment such as compressors, turbines, and pumps. In the energy sector, it was used for monitoring generators, transformers, and other electrical equipment.

Current Opportunities and Trends: Emergence of IoT and Big Data Analytics

The advancements in technology have been instrumental in driving the growth of the oil condition monitoring market. The introduction of new sensor technologies, such as optical sensors, vibration sensors, and acoustic sensors, has improved the accuracy and reliability of oil condition monitoring systems. These sensors can detect the smallest changes in the lubricant’s chemical and physical properties, enabling early detection of potential equipment failures.

Moreover, the emergence of IoT and big data analytics has enabled the collection and analysis of large volumes of data from oil condition monitoring systems in real-time. This has allowed for predictive maintenance, which involves identifying potential equipment failures before they occur and taking proactive measures to prevent them. This has led to significant cost savings by reducing equipment downtime and repair costs.

Asia Pacific is Set to Remain Second-Largest Market with over 28% Market Share

North America to dominate the global oil condition monitoring market with over 35% market share. On the other hand, Asia Pacific to remain the fastest growing with second largest revenue share until the end of the forecast period. The Asia Pacific region’s position as the second-largest market for adhesives is supported by several factors. The region’s diverse mix of end-users, including the construction, automotive, and healthcare industries, has a significant impact on the market. The growth of these industries, coupled with the region’s large and growing population, is driving demand for adhesives in the Asia Pacific region. Additionally, the region’s economic growth and focus on innovation and technological advancements have led to the development of new applications for adhesives, further driving demand in various industries.

Looking ahead, the Asia Pacific market is projected to continue to grow as the region’s population continues to expand, and economic development drives demand for adhesives in construction, automotive, and healthcare industries. The region’s emphasis on innovation and technological advancements is also expected to drive further growth by creating new applications for adhesives.

However, the market is not without its challenges, such as the increasing cost of raw materials and the need for sustainability in product development. Despite these challenges, the Asia Pacific market is poised to remain a significant player in the global adhesive market, driving innovation and growth in various industries across the region.

Oil Condition Monitoring Market is Highly Competitive: General Electric Company and Shell LubeAnalyst Contribute Over 15% Revenue

The oil condition monitoring market is highly competitive and dominated by the top 10 players who collectively hold over 40% market share. General Electric Company and Shell LubeAnalyst are two major players that hold a considerable share of over 15%, with GE Company leading the market with over 7.8% market share.

The dominance of these players can be attributed to several factors, including their significant investments in research and development to improve their products and services. These investments have helped them to remain ahead of the competition by introducing new, innovative products that are tailored to meet the ever-changing needs of customers. Furthermore, these players have a strong global presence, allowing them to reach a wider audience and expand their customer base.

In addition, the competitive landscape of the oil condition monitoring market is shaped by several other factors such as the rising demand for predictive maintenance solutions, increasing focus on equipment optimization and the growing adoption of cloud-based solutions. Companies that offer advanced solutions to these problems are more likely to gain market share and maintain a competitive edge.

As a result, smaller players in the market face significant challenges in competing with these larger, established companies. These players often struggle to invest heavily in research and development, leading to a lack of innovation in their products and services. Furthermore, they may have a limited global presence, making it difficult to compete with larger players that have established themselves in multiple regions.

Some of the Top Market Players Are:

Al Nukhba
Avenisense SA
BP p.l.c.
Bureau Veritas
Bureau Veritas
Chevron Corporation
Cm Technologies GmbH
Delta Services Industries (DSI)
Des-Case Corporation
Eaton Corporation
Element Materials Technology
General Electric Company
Gill Sensors & Controls Limited
Hydac International
Insight Services Inc.
Intertek Group Plc
Lakeside
Maxxam Analytics
OptaSense
Parker Hannifin Corporation
Poseidon Systems, LLC
SGS Group
Shell LubeAnalyst
TE Connectivity
TestOil (Insight Services, Inc.)
Other Prominent Players

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United States Roofing Market Set to Reach Valuation of $39.64 Billion by 2031

April 16th, 2023 Astute Analytica Leave a comment

The US roofing market is a highly competitive industry with the top 10 players holding less than 55% of the market share. The market is expected to grow due to increasing demand for environmentally friendly roofing materials, technological advances, and the need for roofing repairs and replacements. However, challenges such as price sensitivity, regulatory changes, and economic uncertainty may impact growth opportunities in the industry.

In 2022, the United States roofing market was valued at $26.20 billion and is projected to generate a revenue of $39.64 billion by 2031.

The US is witnessing significant growth, driven by factors such as an increase in new construction activity, growth in renovation and remodeling projects, and a rise in demand for energy-efficient roofing materials. A comprehensive research analysis of Astute Analytica reveals the various aspects of the US roofing market, with a focus on key sectors such as industrial building construction, aviation, hospitality, retail, and the green roofing movement.

In 2022, the US construction industry spent $565.4 billion on private construction, including residential and commercial projects, indicating a strong demand for roofing products and services across various building types. The non-residential construction sector alone accounted for $444.6 billion of this expenditure, encompassing industrial buildings, public infrastructure, and commercial buildings like hotels and retail stores.

The aviation sector also offers potential for the roofing market, with approximately 19,622 airports in the US, of which 5,000 are under public-use. These airports require ongoing roofing maintenance and renovation to ensure safe and reliable operations, creating further opportunities for roofing companies to cater to the aviation industry’s needs.

In the hospitality sector, the average cost of a new roof installation ranges from $15,000 to $200,000, depending on the size and complexity of the building. This emphasizes the need for high-quality roofing systems within the hotel industry, which is a crucial market for roofing companies.

The retail industry’s renovation and remodeling projects in 2021 amounted to approximately $5.5 billion, with an average cost of $61 per square foot. This highlights the necessity for roofing companies to offer cost-effective and efficient roofing solutions for commercial clients in this sector. The US market for green roofs is expected to grow at a CAGR of 10.3% from 2023 to 2031, driven by the increasing demand for sustainable building practices and energy-efficient solutions. This trend is likely to influence the US market, as more clients seek out eco-friendly roofing options.

Residential Activities Contribute More than 38% Revenue to the US Roofing Market

More than 38% of the US revenue is projected to come from residential activities, with a significant portion attributed to new independent house construction, renovation of residential roofing, and building separate garages and shades. In 2021, a total of approximately 1.07 million new single-family houses were completed in the United States. Assuming an average cost of $5,000 to install a new roof on a single-family house, the revenue generated from new independent house construction in the roofing market would be around $514 million in 2021. On the other hand, the residential sector also invests heavily in renovation and remodeling projects, including roof replacements and repairs. In 2021, homeowners spent an estimated $330 billion on home improvements and repairs. Out of which over $300 million was spent on roofing.

Additionally, building separate garages and shades contributes to the demand for residential roofing services. In the United States, it is estimated that 63% of households have a garage or carport. With the average cost of constructing a detached garage ranging between $35,000 and $60,000, a portion of this expenditure goes towards roofing. Around 10% of the garage construction cost is allocated to roofing, and 5% of households with a garage built or renovated one in 2021.

Considering that residential activities account for more than 38% of the US market revenue, it is crucial for roofing companies to focus on the unique needs and preferences of homeowners, offering cost-effective and efficient solutions for new construction, renovation, and additional structures like garages and shades.

Exploring the Future of the US Roofing Market: Opportunities and Challenges Ahead

Opportunity:

Green Roofing Segment: The demand for environmentally friendly roofing materials is increasing due to growing awareness of sustainability. Companies can capitalize on this opportunity by offering innovative, eco-friendly roofing solutions.

Challenges:

Highly Competitive Market: The roofing market in the US is highly competitive, with many players vying for market share. This makes it challenging for companies to stand out and gain a foothold in the market.
Price Sensitivity: Many customers in the market are cost-sensitive, making it difficult for companies to compete solely on price while maintaining profitability.
Regulatory Changes: Regulations regarding roofing materials and installation practices can change, leading to additional costs for companies that must adjust their product lines and practices.

Dominance of PVC and SPF in the US Roofing Market to Generate More Than 45% Revenue

Polyvinyl Chloride (PVC) and Spray Polyurethane Foam (SPF) have emerged as the most popular materials used in roofing across the United States. According to Astute Analytica, these two materials accounted for more than 45% of the market share, with SPF dominating the market with over 24% revenue share, followed by PVC with over 21% market share.

SPF has become a preferred choice for many residential, commercial, and industrial roofing projects due to its unique properties and benefits. The dominance of SPF in the roofing market can be attributed to factors such as energy efficiency, seamless and waterproof nature, and durability and longevity. SPF provides exceptional insulation and energy-saving properties, which can help reduce heating and cooling costs in buildings. This energy efficiency appeals to both homeowners and businesses looking to minimize their energy consumption and related expenses. Moreover, SPF forms a seamless, waterproof barrier when applied, reducing the risk of leaks and water damage. This characteristic makes it an ideal choice for roofing in areas prone to heavy rainfall or extreme weather conditions. Furthermore, SPF roofing systems offer a long lifespan, often lasting for over 30 years with proper maintenance, making it a durable and cost-effective roofing solution.

PVC roofing has also gained significant market share in the US due to its various advantages. PVC offers excellent resistance to harsh weather conditions, chemicals, and fire, making it a suitable option for commercial and industrial applications. Additionally, PVC roofing is known for its durability and low maintenance requirements, which contribute to its overall appeal. Its reflective properties help reduce the heat absorbed by the building, lowering energy costs associated with cooling. As a result, PVC has become a strong contender in the roofing market, capturing over 21% of the market share.

Competitive Landscape: Top 11 Players Hold Less than 55% Revenue Share, 3M Company Dominates the Market

The roofing market in the US is highly competitive, with the top 11 players holding less than 55% of the market share. This indicates a fragmented market with many players competing for business. 3M has established itself as a market leader, but still only holds less than 10% of the market share, which leaves significant room for growth. Other players in the market are Atlas Roofing Corporation, BASF SE, Berkshire Hathaway Inc., Carlisle Companies Inc., Certain Teed Corporation, DoW Chemical Company, Dupont de Nemours Company, Duro-Last Inc., GAF, and IKO Industries Ltd.

In such a competitive market, companies must differentiate themselves through product innovation, quality, pricing, and distribution channels. Companies must also be aware of regulatory changes that could impact their business and be prepared to adjust their product offerings accordingly. Additionally, economic uncertainty can impact the demand for roofing products and affect companies’ sales and profitability.

To remain competitive in the US roofing market, companies must focus on staying ahead of industry trends, investing in research and development, and expanding their product portfolios to cater to the needs of different customer segments. Building a strong distribution network and brand reputation is also crucial to winning and retaining customers in this market.

Some of the Top Market Players Are:

3M Company
Atlas Roofing Corporation
BASF SE
Berkshire Hathaway Inc.
Carlisle Companies Inc.
Certain Teed Corporation
DoW Chemical Company
Dupont de Nemours Company
Duro-Last Inc.
GAF
IKO Industries Ltd

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Global Engineering Services Outsourcing Market Set to Skyrocket at 19.67% CAGR, Reaching US$ 6,802.92 Billion by 2031

April 14th, 2023 Astute Analytica Leave a comment

The engineering services outsourcing market is projected to experience significant growth in the next decade. The market is driven by various factors such as cost-saving, expertise, scalability, and reduced risk. The telecom industry is the largest consumer of engineering outsourcing services, with a projected revenue share of 22% by 2031.

Global engineering services outsourcing market is expected to record a revenue of US$ 6,802.92 Bn by the end of the year 2031 from US$ 1,439.97 billion in 2022. The market is growing at a compound annual growth rate (CAGR) of 19.67% during the forecast period of 2023–2031. One of the primary drivers of this growth is the increasing adoption of technology, especially in the manufacturing sector. This trend has led to an increased demand for engineering services in areas such as design, prototyping, and testing.

Another significant factor driving this market’s growth is the increasing trend of outsourcing engineering services by companies to reduce costs and enhance efficiency. The COVID-19 pandemic has further accelerated this trend as businesses have sought ways to cut costs during these challenging times. As a result, there has been an increase in demand for engineering services outsourcing, particularly in software development, cloud computing, and cybersecurity.

Moreover, globalization has played a significant role in driving the engineering services outsourcing market. Many companies are exploring new markets, particularly in emerging economies, and outsourcing engineering services to gain a foothold in these markets. As a result, there has been an increase in demand for engineering services, especially in product localization and customization.

Digitalization, Automation, and Innovation: The Current Shift in the Global Engineering Services Outsourcing Market

The global market is currently experiencing a shift towards digitalization, automation, and innovation. With the increasing adoption of advanced technologies such as artificial intelligence, machine learning, and the Internet of Things (IoT), there is a growing demand for engineering services that can integrate and optimize these technologies.

Additionally, the COVID-19 pandemic has further accelerated this shift towards digitalization and automation, as companies are looking to reduce costs, improve efficiency, and enhance their digital capabilities. This has led to an increased demand for engineering services in areas such as digital transformation, cybersecurity, and cloud computing.

Moreover, there is a growing need for engineering services that can help companies innovate and stay competitive in today’s rapidly changing business environment. This has led to an increased demand for engineering services outsourcing market in areas such as product design and development, prototyping, and testing.

Furthermore, there is a trend towards more strategic outsourcing partnerships, with companies looking for engineering services providers that can offer end-to-end solutions and help them achieve their business objectives. This has led to an increased focus on building long-term relationships and partnerships between clients and service providers.

More than 15% Revenue in Global Engineering Services Outsourcing Market is to Come from Process Designing Services

Outsourcing has become a popular choice for companies looking to design and develop their processes. This trend is driven by a variety of factors, including cost savings, expertise, flexibility, scalability, faster time-to-market, and reduced risk.

According to recent surveys, outsourcing has become a popular choice for companies looking to design and develop their processes. The trend is driven by a variety of factors, including cost savings, expertise, flexibility, scalability, faster time-to-market, and reduced risk. A survey by Astute Analytica found that 57% of companies outsource process design to improve cost efficiency, while 47% do so to gain access to specialized skills and knowledge. It was also found that 90% of executives believe outsourcing enables them to scale up or down more easily. Outsourcing process design to countries with lower labor costs allows companies to save money on salaries, benefits, and overhead expenses associated with hiring and managing an in-house engineering team.

Moreover, outsourcing to a specialized engineering firm provides companies with access to experienced engineers who are well-versed in the latest technologies and best practices, which can help reduce the design cycle time and bring products to market faster. By leveraging the expertise of experienced engineers, companies in the global engineering services outsourcing market can identify and mitigate potential risks early in the design process, thereby reducing the risk of costly mistakes and delays. As outsourcing continues to grow in popularity, it is likely that more and more companies will rely on outsourcing to drive their innovation and growth.

Telecom Industry is Leveraging Engineering Outsourcing Services for Growth and Innovation and Generate More than 22% Revenue

The telecom industry has emerged as the largest consumer of engineering outsourcing services in recent years. By 2031, the segment is projected to generate more than 22% revenue share in the global engineering services outsourcing market. This trend is driven by several factors, including the rapid growth of the telecommunications sector, the need for specialized engineering expertise, and the increasing pressure to reduce costs and improve efficiency. The telecom industry relies heavily on engineering outsourcing services for a range of activities, including network planning and design, software development, product testing, and customer support.

Outsourcing these activities allows telecom companies to focus on their core competencies, reduce costs, and improve agility. Moreover, outsourcing to specialized engineering firms provides telecom companies with access to expertise and experience that may not be available in-house. As the demand for high-speed internet and mobile communication continues to grow, the telecom industry is expected to remain a major consumer of engineering outsourcing services in the coming years.

Capgemini Set to Make Significant Contribution to the Engineering services outsourcing market with More Than 7% Market Share

The market is highly competitive, with several players operating in the market. The top 5 players are projected to hold a revenue share of more than 29% by 2031, owing to their wide range of engineering services, including product design, simulation, testing, and prototyping.

According to Astute Analytica’s recent report on the engineering services outsourcing market, Capgemini’s position as one of the largest players in the market can be attributed to the company’s focus on innovation and digital transformation. The company has been investing heavily in technologies like artificial intelligence, IoT, and cloud computing, which has enabled it to offer cutting-edge engineering solutions to its clients.

Capgemini’s extensive experience in the engineering industry and its ability to provide end-to-end engineering services have also been key factors in its success. The company has a strong track record of delivering complex engineering projects on time and within budget, which has helped it build a loyal customer base.

Despite its leading position in the market, Capgemini faces intense competition from other major players in the industry. To maintain its market share and continue growing its business, the company will need to keep investing in new technologies and adapting to the changing needs of its clients.

Some of the Top Market Players Are:

Accenture
AKKA Technologies
Altair Engineering, Inc.
ALTEN SA
ASAP Holding GmbH
Assystem
AVL List GmbH
Bertrandt
Capgemini SE
Cognizant
Cyient
EDAG
ESI Group
Ferchau
Genpact
Geometric
HCL Technologies Limited
IAV
IGate
Infosys
IBM
ITC Infotech
KPIT
L&T Technology Service
Neilsoft
QuEST Global
Ranal Inc.
Segula Technologies
Semcon
Tata Consultancy Services
Tata Elxsi
Tata Technologies
Tech Mahindra
Wipro
Other Prominent Players

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Global Industrial Robotics Market Soars to Unprecedented Heights

April 11th, 2023 Astute Analytica Leave a comment

Projected to Surpass US$ 150 Billion Valuation by 2031 | More than 680 thousand Units Industrial robots Installed in 2022

The global industrial robotics market is expected to experience strong growth in the coming years, driven by increasing demand for automation, improvements in robotic technology, and the need to improve supply chain efficiency. The material handling segment is expected to be a key contributor to this growth, with the market projected to surpass US$150 billion by 2031. As e-commerce continues to grow, the demand for material handling robots is expected to increase, making it a critical area of focus for industrial robotics companies.

Global industrial robotics market generated revenue of US$ 18.2 billion in 2022 and is anticipated to reach the valuation of US$ 151.4 billion by 2031 at a CAGR of 27.2% over the course of forecast period, 2023–2031.

Industrial robots are playing an increasingly important role in a wide range of industries, from manufacturing and logistics to healthcare and the public sector. In its latest report on the market for industrial robots, Astute Analytica found that the global installed base of industrial robots will grew from 391.5 thousand units in 2019 to 690.9 thousand units by 2022. The analysis shows that the electronics/electrical equipment industry will continue to be the largest user of industrial robots, with an installed base of 177.2 thousand units by 2022. This is followed by the automotive and chemicals/pharmaceuticals industries, which are expected to have an installed base of 157.2 thousand units and 28.7 thousand units, respectively in 2022.

The Asia-Pacific region is expected to be the biggest market for industrial robots, with an installed base of 504.8 million units in 2022. This is followed by Europe (97.1 million units) and North America (55.0 million units).

The research indicates that there is a growing trend towards more technologically advanced industries such as automotive and electronics, leading to an increased demand for industrial robots that can handle complex tasks. Additionally, there is an increasing popularity of collaborative robots designed to work safely alongside humans in industries like healthcare, retail, and logistics in the global industrial robotics market. Developing countries are also emerging as growth markets for industrial robots, as multinational companies set up manufacturing facilities, driving demand for robotic technologies. Astute Analytica forecasts that the prices of industrial robots will continue to decline as they become more widely adopted, as seen in the 20% price reduction between 2016 and 2021.

Over 680 thousand Units Industrial Robots Installed in 2022 in Global Industrial Robotics Market

According to the World Robotics report, industrial robot installations reached a record high of 680 thousand Units in 2022, at a CAGR of 38.9% from 2023-2031. Worldwide annual robot installations between 2015 and 2021 more than doubled. Asia remained the largest market for industrial robots, with China leading the pack by deploying 268,195 units, an increase of 51%.

Japan remained the second largest market with 47,182 units installed, followed by the US and Republic of Korea. Europe saw a 24% increase in installations, with Germany, Italy, and France being the top markets. In the Americas, robot installations increased by 31%, with the US leading the way with 34,987 units installed. The automotive industry remained the top adopter, but other industries such as metal and machinery, plastic and chemical products, and food and beverage saw significant increases in robot demand.

Material Handling Robots Poised to Dominate Global Industrial Robotics Market, Projected to Contribute Over 50% of Total Revenue by 2031

Material handling robots are expected to generate more than 50% of revenue in the global industrial robotics market by 2031. Material handling robots are used to move and transport materials in factories, warehouses, and distribution centers, and their increasing popularity is driven by the growing demand for automation and the need to improve efficiency in supply chain management. The adoption of material handling robots is also supported by advancements in technology, such as the development of collaborative robots that can work safely alongside humans and the integration of artificial intelligence and machine learning algorithms that enable robots to perform more complex tasks.

With the continued growth of e-commerce and the increasing demand for faster and more accurate order fulfillment, the industrial robotics market for material handling robots is expected to experience significant growth in the coming years, making it a key area of focus for industrial robotics companies.

According to the US Bureau of Labor Statistics, the employment of material handling workers is projected to grow 4% from 2019 to 2029, with an increasing demand for faster and more efficient warehouse and distribution center operations. The growing demand for automation is also driving the adoption of material handling robots. In addition, the International Federation of Robotics (IFR) reports that the sales of material handling robots increased by 6% in 2020, reaching a total of 100,000 units sold worldwide. The IFR also projects that the market for material handling robots will continue to grow in the coming years, with sales expected to reach 238,000 units by 2025.

Competitive Landscape: Top 10 Players to Hold More than 36% Revenue Share | Strong Inflow of Investment is Coming in the Industrial robotics market

The market is highly competitive, with vendors offering a wide range of products and services. However, competition is intensifying, as new entrants are entering the market and established players are expanding their offerings. However, this can make it difficult for established robotic companies to keep up with the latest trends and technologies. Astute Analytica’s analysis of the competitive landscape shows that the leading vendors are ABB Limited, Fanuc Corporation, Mitsubishi Electric Corporation and Yaskawa Electric Corporation among others.

Top 10 players in the market held over 36% revenue share as they offer a comprehensive range of products and services. The report also provides an overview of the major trends affecting the industrial robots industry. These include the increasing adoption of collaborative robots, the growing demand for cloud-based solutions, and the rising popularity of artificial intelligence (AI) and machine learning technologies. In order to sustain the intensifying industrial robotics market, market players adopting various growth strategies.

Boston Dynamics was acquired by Hyundai Motor Group for $1.1 billion in June 2021,
Embark Trucks: While not strictly an industrial robot, Embark Trucks is developing autonomous trucking technology that uses robotics and AI to improve safety and efficiency in the logistics industry. It raised $75 million in a funding round led by Tiger Global Management in June 2021.
Locus Robotics: The startup provides autonomous mobile robots for warehouse fulfillment. It raised $150 million in a funding round led by Tiger Global Management in September 2021.
Righthand Robotics raised $23 million in a funding round led by Menlo Ventures in 2020.
GreyOrange: This startup provides AI-powered robots for warehouse automation. It raised $140 million in funding in 2019 from investors including Mithril Capital and Blume Ventures.
Sarcos Robotics: This startup develops exoskeletons and other robotics systems for industrial and military applications in the global industrial robotics market. It raised $40 million in a funding round led by Rotor Capital in October 2020.
Berkshire Grey: The startup provides intelligent robotic systems for order fulfillment and supply chain optimization. It raised $263 million in a SPAC merger with Revolution Acceleration Acquisition Corp in Jan 2020.

Some of the Top Market Players Are:

ABB Limited
DAIHEN Corporation
Denso Corporation
Epson America Incorporated
Fanuc Corporation
Kawasaki Heavy Industries Limited
Kobe Steel, Limited
Kuka AG
Mitsubishi Electric Corporation
Yaskawa Electric Corporation
Other Prominent Players

Archives, Global Logistics, Global Trade Daily, Market insight

Global Biopharmaceutical Logistics Market to Surpass Valuation of US$ 171.89 billion by 2031

March 15th, 2023 Astute Analytica Leave a comment

Global biopharmaceutical logistics market is expected to grow from US$ 95.66 Bn in 2022 to US$ 171.89 Bn by 2031, at a CAGR of 6.5% during the forecast period 2023-2031.

The global biopharmaceutical logistics market has witnessed significant growth in recent years and is expected to continue growing in the foreseeable future. The demand for bio pharmaceutical logistics services is being driven by several factors, including the increasing demand for personalized medicines, the rising prevalence of chronic diseases, and the growing need for temperature-controlled logistics solutions.

On the supply side, the market is highly competitive, with a large number of players offering a wide range of services. Some of the key players in the market include DHL International GmbH, FedEx Corporation, United Parcel Service, Inc., Deutsche Post AG, and Kuehne + Nagel International AG. These companies are investing heavily in technology and infrastructure to improve their service offerings and gain a competitive edge.

The growth of the biopharmaceutical logistics market is being propelled by several key factors, including the increasing demand for specialized logistics solutions for the transportation of biologics, the growing need for efficient and reliable supply chain management solutions, and the rising adoption of cloud-based logistics solutions. Moreover, the increasing focus on reducing healthcare costs and improving patient outcomes is also driving the growth of the market.

However, the market is not without its challenges. One of the key challenges facing the market is the complex regulatory environment surrounding the transportation of biologics and other pharmaceutical products. Additionally, the high cost of implementing and maintaining temperature-controlled logistics solutions and the increasing competition among players are also major challenges facing the market.

In terms of trends, the biopharmaceutical logistics market is witnessing a shift towards the adoption of blockchain technology to improve supply chain transparency and security. Moreover, the market is also witnessing a growing trend towards the use of drones and autonomous vehicles for the transportation of pharmaceutical products.

Astute Analytica Analysis of the Biopharmaceutical Logistics Market

The global market is characterized by several notable trends and developments. A survey conducted by Pharmaceutical Commerce revealed that 56% of respondents reported that biologics and other temperature-sensitive products comprise more than 50% of their company’s total pharmaceutical sales. This underscores the importance of specialized logistics solutions for the transportation of biopharmaceuticals, which require temperature-controlled environments to maintain their efficacy.

The biopharmaceutical logistics market is highly regulated, with guidelines established by leading organizations such as the International Air Transport Association (IATA), the World Health Organization (WHO), and the U.S. Food and Drug Administration (FDA). These regulations help ensure the safety and quality of pharmaceutical products during transport and storage.

In terms of growth prospects, the Asia Pacific region is expected to witness the highest growth in the biopharmaceutical logistics market. This growth is being driven by factors such as the increasing demand for biologics and biosimilars, as well as rising investments in healthcare infrastructure in countries such as China and India.

The use of blockchain technology in biopharmaceutical logistics is expected to grow significantly in the coming years. Blockchain provides a secure, decentralized platform for managing and tracking pharmaceutical products throughout the supply chain, thereby improving transparency, security, and efficiency.

Another notable trend in the biopharmaceutical logistics industry is the increasing adoption of autonomous vehicles and drones for the transportation of pharmaceutical products. Companies such as UPS and FedEx are already piloting drone delivery services for medical supplies and pharmaceuticals, with the potential to improve the speed and reliability of deliveries while reducing costs.

Challenges and Growth Opportunities in the Biopharmaceutical Logistics Market

Challenges:

Stringent regulatory requirements: The biopharmaceutical logistics market is highly regulated, with strict guidelines set by organizations such as the International Air Transport Association (IATA), the World Health Organization (WHO), and the U.S. Food and Drug Administration (FDA). Compliance with these regulations can be a significant challenge for logistics providers, especially those operating in multiple regions with varying requirements.
Maintaining product integrity: Biopharmaceutical products are highly sensitive and require strict temperature control and monitoring during transport and storage to maintain their efficacy. Any failure to maintain product integrity can result in significant financial losses for manufacturers and distributors.
Supply chain complexity: The biopharmaceutical logistics market supply chain is complex, with multiple stakeholders involved in the transportation and delivery of products. Managing this complexity requires specialized knowledge and expertise, which can be a challenge for logistics providers.
Cost pressures: The high cost of biopharmaceutical products, coupled with the need for specialized logistics solutions, can put significant cost pressures on manufacturers and distributors.

Growth opportunities:

Technological advancements: The adoption of new technologies such as blockchain, IoT, and AI is expected to provide significant growth opportunities for the biopharmaceutical logistics market. These technologies can help improve transparency, security, and efficiency throughout the supply chain.
Emerging markets: The increasing demand for biopharmaceutical products in emerging markets such as Asia Pacific and Latin America is expected to drive significant growth in the biopharmaceutical logistics market. Logistics providers that are able to establish a strong presence in these markets will be well-positioned to capitalize on this growth opportunity.
Specialized solutions: The growing complexity of the biopharmaceutical supply chain is creating a need for specialized logistics solutions, including temperature-controlled transportation and storage, cold chain management, and specialized packaging. Logistics providers that are able to offer these solutions will be well-positioned to capture market share.
Partnership and collaboration: Collaboration and partnership between logistics providers, pharmaceutical manufacturers, and distributors can help create more efficient and effective supply chain solutions. This can help drive growth and innovation in the biopharmaceutical logistics market.

Cold Chain to Generate More than US$ 112.25 Billion Revenue of Global Biopharmaceutical by 2031

The global cold chain market is crucial for the safe transportation and storage of temperature-sensitive products such as pharmaceuticals, vaccines, and perishable foods. The market is expected to grow at a CAGR of 7.2%, generating more than US$ 112.25 billion in revenue by 2031. The increasing demand for temperature-controlled transportation and storage solutions, particularly in emerging economies, is driving this growth.

E-commerce has also contributed to the trend in the global biopharmaceutical logistics market, as consumers expect fresh and high-quality products delivered to their doorstep. The COVID-19 pandemic has highlighted the importance of the cold chain industry in the distribution of vaccines and other medical supplies. However, challenges such as the high cost of maintaining temperature-controlled infrastructure and equipment, and inconsistent regulatory oversight in developing economies pose significant obstacles to industry growth. Despite these challenges, the growth potential of the cold chain market remains strong, particularly with ongoing investments in technology and personnel to address these challenges.

Air Shipping of the Biopharmaceuticals to bring in a Revenue of Over US$ 68.26 Billion by 2031

The global biopharmaceutical logistics market is experiencing significant growth due to the rise of innovative and effective therapies to treat various diseases. The transportation of these products has become increasingly important, and air shipping has become a crucial mode of transportation for the biopharmaceutical industry. Air shipping is preferred because it is fast, efficient, and reliable, allowing for faster delivery times which is particularly important for vaccines that need to be transported quickly to prevent spoilage.

The COVID-19 pandemic has further highlighted the importance of air shipping for biopharmaceuticals, ensuring that these products reach their intended destinations on time. The projected revenue of over US$ 68.26 billion by 2031 for air shipping of biopharmaceuticals reflects the growing demand for this mode of transportation. Advances in technology and logistics are expected to make air shipping even more efficient and reliable in the coming years across global biopharmaceutical logistics market, further boosting demand. Challenges that need to be addressed include ensuring product safety during transportation and regulatory compliance issues. Air shipping is poised to become a significant revenue generator for the biopharmaceutical industry as the demand for biopharmaceuticals increases and the need for faster delivery times continues to grow.

Some of the Top Market Players Are:

Deutsche Post DHL
Kuehne+Nagel
DB Schenker
FedEx
AmerisourceBergen
XPO Logistics
Panalpina
Versacold
Agility
DSV
UPS
Other Prominent Players

Archives, Global Trade Daily, Software, Technology

Global Intellectual Property Software Market to Generate Revenue of US$ 28,028.6 Million by 2031

February 16th, 2023 Astute Analytica Leave a comment

The global intellectual property software market is experiencing significant growth, driven by the increasing demand for IP management solutions and the growing importance of IP in various industries. One of the key trends in the market is the increasing adoption of cloud-based solutions, which offer improved accessibility, scalability, and cost-effectiveness. Another trend is the increasing focus on IP analytics and the use of big data and artificial intelligence (AI) in IP management, helping companies to analyze and understand the value of their IP portfolios.

North America is currently the largest intellectual property software market, followed by Europe and Asia-Pacific, with the Asia-Pacific region expected to experience the fastest growth in the coming years. The market is highly competitive, with a few key players dominating the market, including Thomson Reuters, CPA Global, and Anaqua. These companies are focusing on developing new and innovative IP management solutions, expanding their presence in new and emerging markets, and acquiring smaller players to strengthen their market position.

Navigating the Booming Landscape of IP Software: Growth Fueled by Increasing Awareness, Investments, and Innovation

The global IP software market is driven by factors such as increasing awareness about IP rights protection and rising demand for efficient IP management solutions. Additionally, organizations are investing heavily in IP software development and implementation to maintain the security of their IP assets and gain a competitive edge. Moreover, the increasing popularity of cloud-based IP management systems is expected to further drive market growth.

To capitalize on the growth opportunities in the IP software market, many companies are focusing on product innovation and expanding their product portfolios. For instance, Microsoft recently announced the launch of a new IP asset visibility platform, which will enable users to identify and protect their IP assets from misuse. Similarly, Oracle announced its acquisition of DAZN Group, an IP licensing solution provider, to strengthen its IP portfolio and provide better IP management solutions for its customers.

North America IP Software Market to Offer Revenue Opportunity Worth 7.9 billion by 2031

According to findings from Astute Analytica, the North American market is poised to offer a revenue opportunity worth $7.9 billion in the global intellectual property (IP) software market over the next decade. The region is expected to experience a compound annual growth rate of 15.78% during this period, driven by increasing demand from end-use industries such as healthcare, IT & telecom, manufacturing, and financial services.

This growth can also be attributed to the rising number of startups in the region, which require IP software to protect their innovations, products, processes, and services. Additionally, with the increasing awareness of the benefits of IP protection and advancements in technology, the demand for IP software is expected to remain steady in North America.

North America is home to some of the world’s most innovative companies, which are embracing IP protection to safeguard their inventions and maintain a competitive edge. The presence of leading IP software providers and well-developed IT infrastructure and industry standards in the region are also contributing factors to the growth of the IP software market in North America.

Astute Analytica also found that the North American market is characterized by intense competition among players, with leading companies continuously investing in research and development to introduce new and improved products. The presence of large multinational corporations, coupled with a well-established legal system, makes North America an attractive market for IP software providers.

Moreover, the government in the US has also been proactive in promoting IP protection, with various initiatives aimed at encouraging innovation and supporting startups. This has resulted in an increase in the number of patents filed in the region, further boosting the demand for IP software.

Academia is the Largest End users of Global Intellectual Property Software Market

Academia is the largest end user in the intellectual property software market due to the extensive use of IP software to secure academic research and ensure that educational institutions benefit from the research conducted. Universities, research institutes, and other educational institutions are increasingly relying on IP software to protect their intellectual assets. This software can help protect academic research from plagiarism, establish a brand for the institution, and facilitate the commercialization of research results.

IP software provides significant benefits for academia in managing their intellectual property. The software helps institutions track inventions and discoveries, ensure research accuracy, and control access and distribution of research results. It also facilitates the patenting process and increases visibility and recognition of the institution’s research, leading to increased funding opportunities. Additionally, IP software offers a platform for researchers to collaborate and share their work globally, driving knowledge exchange and innovation.

The use of IP software in academia is likely to continue to grow in the future, driven by an increasing focus on research and development, as well as the need to protect intellectual property rights. Additionally, the growing global demand for intellectual property protection will drive greater adoption of IP software market in academia. As universities and other educational institutions continue to invest in technology to protect their intellectual assets, the demand for intellectual property management software is expected to increase significantly in the coming years

Competitive Analysis: Top 10 Players in Intellectual Property Software Market Generate Over 30% Market Revenue

The global IP software market is highly competitive, with a large number of players operating in the market. The market is dominated by a few key players, including Anaqua Inc., AppColl Inc., ContinuxGmbH, CPA Global Limited, Gridlogics, InnovationAsset Group Inc, Inteum Company LLC, IPfolio Corporation, Lecorpio, PatrixAB, Patsnap Pte. Ltd., Questel, RightsLine Software, Inc.. These companies are focusing on developing new and innovative IP management solutions, expanding their presence in new and emerging markets, and acquiring smaller players to strengthen their market position.

Market Concentration: The global IP software market is moderately concentrated, with the top five players accounting for a significant share of the market. This concentration is expected to increase in the coming years, as the leading players continue to expand their market presence and acquire smaller players.

Market Share Analysis: The market share of the leading players in the global IP software market is expected to increase in the coming years, as they continue to expand their market presence and strengthen their market position. As of 2022, these top 10 players are holding more the 30% of the market share. However, new players are also entering the market, offering new and innovative IP management solutions, which is expected to increase competition in the market.

Key Players and Their Strategies: The key players in the global IP software market are focusing on developing new and innovative IP management solutions, expanding their presence in new and emerging markets, and acquiring smaller players to strengthen their market position. These companies are also investing in R&D to stay ahead of the competition and offer better and more effective IP management solutions to their customers.

Some of the Top Market Players Are:

Anaqua Inc.
AppColl Inc.
ContinuxGmbH
CPA Global Limited
Gridlogics
InnovationAsset Group Inc
Inteum Company LLC
IPfolio Corporation
Lecorpio
PatrixAB
Patsnap Pte. Ltd.
Questel
RightsLine Software, Inc.
TM Cloud Inc.
WebTMS Limited
Other Prominent Players

About Astute Analytica

Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

Archives, Global Logistics, Global Trade Daily

Global Third-Party Logistics Market to Generate Revenue of Over US$ 2,349.2 Billion By 2031

February 9th, 2023 Astute Analytica Leave a comment

Global third-party logistics market was valued at US$ 1,112.6 Bn in 2022 and is estimated to reach US$ 2,349.2 Bn by 2031. The market is registering a growth at a CAGR of 8.7% during the forecast period 2023-2031. This growth is largely driven by the increased demand for integrated supply chain solutions and services as businesses strive to become more efficient and cost-effective.

However, the recent outbreak of the Russia-Ukraine war has caused severe disruption to the global economy, and the 3PL industry is not immune to these adverse effects. This conflict has reduced consumer confidence throughout the world, thereby reducing spending, which has in turn affected the demand for 3PL services. Additionally, the travel restrictions imposed due to the conflict have resulted in increased transportation costs and a slowdown in the delivery of goods.

Despite these challenges, the third-party logistics market is still expected to experience steady growth in the near future, as companies continue to realize the value of outsourcing their supply chain operations. This is evidenced by the adoption of advanced technologies such as AI and blockchain, which are being widely used to improve the efficiency and cost-effectiveness of 3PL operations. Companies are also increasingly investing in digital solutions such as warehouse management systems, fleet management systems and order management systems, which are enabling them to better track their shipments and optimize their supply chain operations.

Top 6 Trends in the Global Third-Party Logistics Market

The Third-Party Logistics (3PL) services industry has seen significant growth in recent years as businesses continue to search for cost-effective, reliable logistics solutions. As such, it’s important to stay up-to-date on the latest trends and developments to ensure that your business is making the most of its 3PL services. Here are some of the top trends in 3PL services to watch in 2022 and beyond:

1. Increased Automation: Automation has become increasingly prevalent in the 3PL industry, from warehouse robots to automated order scanning and processing. Automation can reduce costs and improve accuracy and efficiency, so many businesses are now turning to automated 3PL services.

2. Data Analytics: 3PL providers are increasingly harnessing the power of Big Data analytics to gain insight into customer demands, inventory levels, delivery times, and more. This helps them better serve their customers and provide a higher level of service.

3. Sustainable Practices: Sustainability has become an increasingly important factor for many businesses, and this is reflected in the third-party logistics market. 3PL providers are increasingly embracing eco-friendly practices, such as reducing fuel consumption and emissions, and utilizing renewable energy sources.

4. Digitalization: Digitalization has been a major trend across industries in recent years, and the 3PL industry is no different. 3PL providers are increasingly shifting to digital processes and technologies such as digital freight matching and route optimization software to streamline operations.

5. Cloud Computing: Cloud computing is transforming the logistics industry by providing 3PL providers with access to powerful analytics and data storage capabilities. By leveraging cloud technology, 3PL providers are able to better manage data and optimize their services.

6. Artificial Intelligence (AI): AI has become increasingly commonplace in the 3PL industry, with applications such as AI-driven route optimization and predictive shipment forecasting helping companies to improve efficiency and reduce costs.

These are just some of the trends that are shaping the third-party logistics market in 2022 and beyond. As the industry continues to evolve, businesses should stay informed about the latest developments to ensure that they are leveraging the best 3PL services available.

Roadways to Bring in over 44% Revenue of the Global Third-Party Logistics Market

The report states that the transportation and warehousing industry will benefit from more efficient management of its operations. This will be driven by increasing demand for dedicated contract carriage services and airways mode of transport.

The report also highlights that the global market will see a CAGR of 8.2% during the forecast period. This growth is attributed to the growth in global e-commerce, the expansion of cross-border trade activities, and the increased focus on supply chain optimization. Roadways are expected to account for the largest share of the global third-party logistics market due to their long-term sustainability, cost effectiveness, and reliability.

Furthermore, the A&A Top 50 Global Third-Party Logistics Providers (3PLs) list shows that roadways are playing an increasingly important role in the 3PL industry. They are helping businesses reduce costs, improve efficiency, and better manage their supply chains. Companies such as DHL, Kuehne + Nagel, and XPO Logistics are leading the way in the adoption of roadways for 3PL services.

It is evident that roadways are playing a crucial role in the global third-party logistics market. Companies are increasingly turning to them to reduce costs, improve efficiency, and better manage their supply chains. With the use of dedicated contract carriage services and airways mode of transport, the roadways segment is expected to account for over 44% of the total revenue by 2031.

Domestic Transportation Management to Captur Over 36% Revenue Share in Global Third-Party Logistics Market

The market is mainly driven by factors such as the rising demand for efficient transportation solutions, increasing need for cost-effective logistics services and improved customer service. As per the report, domestic transportation management is expected to capture over 36% of the global third-party logistics revenue share in the coming years.

Domestic transportation management involves the coordination of various activities related to the movement of goods within a country’s borders. This includes planning, scheduling, tracking, and monitoring shipments from the point of origin to the destination. It also involves managing other logistics processes such as warehousing, inventory management, and order fulfillment. In addition, domestic transportation management enables organizations to improve their supply chain efficiency and reduce costs associated with transportation and logistics.

The increasing adoption of digital technologies such as artificial intelligence (AI), cloud computing and the Internet of Things (IoT), has enabled organizations in the global third-party logistics market to automate their domestic transportation management functions. This has enabled them to optimize their operations and improve customer service. Additionally, the growing demand for cost- Effective solutions, improved customer service and better visibility into transportation operations are driving the demand for domestic transportation management services.

Furthermore, the emergence of autonomous vehicles and drones has made it possible to transport goods more efficiently, which has also increased the adoption of domestic transportation management services. This, coupled with government initiatives to improve the transportation infrastructure across various countries, is expected to drive the growth of the global third-party logistics market during the forecast period.

Global Third-Party Logistics Market is Highly Competitive: Top 5 Players Holds Less than 23% Market Share

The global third-party logistics (3PL) market is highly competitive, with a large number of players operating in the market. The competition in the market is primarily driven by factors such as price, quality of service, innovation, and customer service. Key players in the market are continuously striving to enhance their market position by implementing various strategies, such as expanding their global presence, entering into strategic partnerships, and investing in research and development activities.

Some of the leading players in the global third-party logistics market include DHL International GmbH, Kuehne+Nagel Inc., DB Schenker, Nippon Express, and FedEx Corporation. These companies have a strong brand image and have established a broad customer base, which provides them with a competitive advantage in the market. In 2022, top five players held over 22% market share.

In addition to established players, the market also has a significant number of regional and local players that operate in specific regions or countries. These players have a strong regional presence and are well-positioned to cater to the needs of local customers.

Overall, the global third-party logistics market is characterized by intense competition, with players constantly vying for market share and seeking to establish themselves as the leading player in the market. In this highly competitive environment, companies are continually seeking new and innovative ways to improve their offerings and better meet the evolving needs of customers.

Prominent Players in Global Third-Party Logistics Market:

DHL INTERNATIONAL GmbH (DEUTSCHE POST DHL GROUP)
KUEHNE+NAGEL INC.
DB SCHENKER (DB GROUP)
NIPPON EXPRESS
C.H. ROBINSON WORLDWIDE, INC.
UNION PACIFIC CORPORATION
FEDEX CORPORATION
UNITED PARCEL SERVICE (UPS)
PANALPINA WORLD TRANSPORT LTD.
MAERSK
Other Prominent Players

wagner circle third-party logistics market

Archives, Global Logistics, Global Trade Daily, Market insight

UAE Third-Party Logistics Market to Worth US$ 6,529.7 Million By 2030

February 3rd, 2023 Astute Analytica Leave a comment

UAE third-party logistics market is projected to attain a market valuation of US$ 6,529.7 Million by 2030 at a CAGR of 6.5% during the forecast period 2023-2030.

The UAE Third-Party Logistics market is thriving and offers endless opportunities for international businesses looking to tap into the Middle East and North Africa (MENA) market. The country’s strategic location, advanced infrastructure, and supportive government policies make it a prime destination for companies seeking cost-effective and efficient supply chain management solutions.

The growth of e-commerce and the increasing use of technology in logistics operations have driven the demand for 3PL services in the UAE. This, in turn, has led to the expansion of the industry and a steady growth in the market. The UAE Third-Party Logistics market is also keeping up with the global trends by embracing automation, technology, and green logistics solutions. This is in line with the government’s focus on providing customized and value-added services to customers.

Import and Export Activities Play Key Role in the Growth of UAE Third-Party Logistics Market

According to the United Nations Commodity Trade Statistics Database (UN Comtrade), the United Arab Emirates (UAE) is one of the largest trading nations in the world. The country’s transportation sector plays a critical role in facilitating the import and export of goods. In 2021, the UAE’s imports and exports volume were valued at around $365 billion and $303 billion respectively. The top import partners for the UAE were China, India, the United States, and Japan, while the top export partners were India, China, Switzerland, and Singapore.

In terms of transportation, the UAE has a well-developed infrastructure, including ports, airports, and road networks, which allows for the efficient movement of goods. Dubai and Jebel Ali are the main ports in the UAE, handling a large volume of trade. Dubai International Airport is the busiest airport in the world in terms of international passenger traffic, and it also plays an important role in cargo transportation.

UAE Third-Party Logistics Market to Witness Strong Growth Thanks to Favorable Government Policies and Efforts

The United Arab Emirates (UAE) government has implemented a number of policies aimed at promoting the growth of the third-party logistics market in the country. Some of these policies include:

Strategic Location: The UAE’s strategic location at the crossroads of Europe, Asia, and Africa has made it an important hub for trade and logistics in the region. The government has invested heavily in the development of ports, airports, and road networks to support the movement of goods.
Free Zones: The UAE has established a number of free zones, such as the Dubai Logistics City, which offer benefits such as 100% foreign ownership, 100% import and export tax exemptions, and no currency restrictions. These free zones have attracted many international logistics companies in the UAE third-party logistics market to set up operations in the country.
E-commerce: The government has implemented policies to support the growth of e-commerce in the country, which has increased the demand for 3PL services. For example, the government has established the Dubai E-Commerce Strategic Plan 2021, which aims to create a conducive environment for e-commerce businesses.
Technology and Automation: The government has been encouraging the use of technology and automation in logistics operations. This includes the development of smart ports and the implementation of digital platforms to improve supply chain efficiency.
Green logistics: Government has been encouraging and providing incentives for the use of green logistics solutions like electric vehicles, solar-powered warehouses, and energy-efficient equipment.

Overall, these policies have had a positive impact on the 3PL industry in the UAE. The country’s strategic location, advanced infrastructure, and supportive government policies have made it a popular destination for international businesses seeking to tap into the Middle East and North Africa (MENA) market. Additionally, the increased demand for UAE third-party logistics market due to the growth of e-commerce and the use of technology in logistics operations has led to the expansion of the industry in the country.

B2B Segment Generates Over 58% Revenue of UAE Third-Party Logistics Market

The UAE’s third-party logistics (3PL) industry is thriving and is expected to continue growing at a steady pace in the coming years. The Business-to-Business (B2B) segment, which includes services such as warehousing, transportation, and distribution, is a major contributor to this growth. In fact, this segment alone generates over 58% of the revenue for the industry.

The growth of B2B logistics services is driven by the increasing demand for cost-effective and efficient supply chain management solutions among manufacturers, wholesalers, and other businesses. The rise of e-commerce has also played a key role in this growth, as businesses seek to manage their online sales operations. The UAE’s strategic location, advanced infrastructure, and supportive government policies have made it a popular destination for international businesses looking to tap into the Middle East and North Africa (MENA) UAE third-party logistics market.

According to the World Bank, the UAE’s logistics performance index (LPI) is ranked 25th globally, showing a steady improvement over the years. This index measures the efficiency of the logistics chain and the ease of arranging competitively priced services. Furthermore, the country’s strong logistics performance is due to the well-developed transportation infrastructure and the supportive policies put in place to enhance the logistics sector.

Roadways Handles Over 45% of the UAE Third-Party Logistics Market

The UAE’s third-party logistics market is diverse and offers a wide range of services to businesses looking to streamline their supply chain operations. One of the most significant segments of this market is roadways, which holds a 45% share of the market.

The roadways segment is crucial for businesses operating in the UAE, as it enables the efficient movement of goods across the country. The UAE has a well-developed road network, with easy access to ports and airports, making it an ideal location for businesses looking to transport their goods locally and internationally.

The UAE government has also been investing in the development of road infrastructure to support the third-party logistics market. This includes the construction of new roads, bridges, and highways, and the upgrading of existing ones. This has made the UAE an attractive destination for businesses looking for cost-effective and efficient transportation solutions.

The Roadways segment is especially beneficial for businesses that operate across the country, as it provides a reliable and cost-effective way to move their goods from one location to another. Additionally, the use of advanced technologies, such as GPS tracking and electronic documentation, allows for real-time monitoring of shipments, which helps businesses to optimize their supply chain operations.

Navigating the Evolving Landscape of UAE Third-Party Logistics Market: Top Trends and Opportunities

As the UAE economy continues to thrive, the third-party logistics industry is experiencing significant growth. Businesses in the region are recognizing the value of outsourcing their logistics needs to specialized providers, known as 3PLs. These companies offer a range of services, from warehousing and transportation to customs clearance and final-mile delivery. Here are some key trends that are shaping the industry:

End-to-End Solutions: Companies are seeking comprehensive logistics solutions that streamline their supply chain and reduce the need to manage multiple providers. This trend is driving demand for 3PLs that can offer an end-to-end service, covering everything from order fulfillment to delivery.
Cost-Efficiency: In an increasingly competitive marketplace, businesses are looking to cut costs wherever possible. 3PLs that can offer cost-effective solutions, such as utilizing technology to optimize routes and improve decision-making, are in high demand in the UAE third-party logistics market.
Long-Term Contracts: As businesses gain confidence in the capabilities of 3PLs, they are increasingly opting for long-term contracts as opposed to project-based or short-term arrangements. This indicates a growing level of trust in the industry and its ability to deliver on its promises.
Improved Service Levels: As the third-party logistics industry continues to evolve, service levels are improving across the board. This is leading to greater satisfaction among customers and more opportunities for growth in the industry.

Some of the Top Market Players Are:

SAG logistic
DHL International GmbH
FedEx
RAK Logistics
Emirates Logistics LLC
Global Shipping & Logistics Company
Al-futtiam Logistics
Freightworks
Ceva Logistics
Mohebi Logistics
Consolidated Shipping Services group
KUEHNE+NAGEL INC.
Other Prominent Players

About Astute Analytica

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Global Laboratory Robotics Market to Touch Valuation of US$ 527.56 Million by 2031

January 30th, 2023 Astute Analytica Leave a comment

Global laboratory robotics market generated a revenue of USD 289.38 million in 2022 and is projected to attain a value of USD 527.56 million by 2031 at a CAGR of 6.9% during the forecast period 2023–2031.

Laboratory robotics is still in its early stages of development but is growing rapidly, which presents both challenges and opportunities. On one hand, there is still a lot of room for improvement in terms of technology and efficiency. However, this also means that there is significant potential for growth and innovation in this sector. The majority of companies in the laboratory robotics market are small, with only a few large players. However, the industry is expected to grow rapidly in the coming years, as laboratory robots become more widely adopted. The major drivers for this growth are the increasing automation of laboratories and the need for faster and more accurate results. Currently, there are three main types of laboratory robots: automated liquid handlers, autoclave washers, and cell culture systems.

The most of this growth of the global laboratory robotics market was driven by the pharmaceutical and biotechnology industries, which were using robots to speed up drug discovery and development processes. The report also found that the use of robots was becoming more widespread in other industries, such as food and beverage, chemicals, and oil and gas. In addition, the report found that robots were being used more extensively in research laboratories, particularly in academic settings.

Finally, the report found that there was a growing trend of companies outsourcing their laboratory robotics needs to specialized providers. This was especially true for small and medium-sized companies that did not have the internal resources to develop and maintain their own robotic infrastructure.

High Investment Cost and Lack of Standardization to Imped Laboratory Robotics Market Growth to Some Extent

Astute Analytica expects that new types of robots will emerge in the future as technology advances. One of the key challenges facing the industry is the high cost of investment. Laboratory robotics are generally more expensive than traditional manual methods and this can hamper adoption.

Another challenge is the lack of standardization across different platforms which can make it difficult to compare results and replicate experiments. Our study believes that these challenges can be overcome with continued innovation and investment in the sector. The report on laboratory robotics market contains a number of recommendations for both suppliers and users of laboratory robotics. Suppliers should focus on developing new applications and improving usability while users should seek to increase collaboration between different stakeholders to drive adoption.

Key Market Trends to Watch Out

Astute Analytica’s analysis of laboratory robotics market enabled it to identify several key trends shaping the market.

First, the industry is benefiting from the continued development of new robotic technologies.
Second, laboratory robotics companies are consolidating at a rapid pace.
And third, the industry is shifting from North America and Europe to Asia.

The continued development of new robotic technologies is driving growth in the laboratory robotics industry. Newer, more advanced robots are entering the market, and they are becoming more affordable. This is making laboratory robotics more accessible to a wider range of customers, including small- and medium-sized laboratories.

The industry is also benefiting from the consolidation of laboratory robotics companies. A growing number of firms are acquiring other companies in the space, which is helping them to expand their product offerings and gain scale advantages. The consolidation trend is also making the industry more efficient and reducing costs.

Finally, the laboratory robotics market is shifting from North America and Europe to Asia. This reflects the growing economic importance of Asia as a market for Laboratory robotics products and services.

Three Major Shifts are Underway in Global Laboratory Robotics Market

Astute Analytica’s analysis also Identifies three major shifts that are under way in the market:

A move from low-end to high-end applications
A move from disconnected to integrated systems
A move from custom-built to off-the-shelf solutions

These shifts are being driven by advances in technology and changes in customer preferences, and they are changing the competitive landscape of the laboratory robotics market. Interestingly, the number of companies offering automated liquid handlers has remained relatively constant over the past few years, even as other segments have seen new entrants. This is due to the fact that liquid handlers are typically used for high-throughput screening applications, which require a different set of capabilities than other segments.

As a result, the automated liquid handling segment has been relatively insulated from commoditization pressures. In contrast, the other segments of the laboratory robotics market have seen a proliferation of new entrants in recent years. This is in line with the fact that these segments are less capital intensive and have lower barriers to entry than automated liquid handling.

Laboratory Robotics Market Gaining Momentum for Drug Discovery

As drug discovery becomes increasingly reliant on high-throughput techniques, laboratory robotics is playing an increasingly important role. Automated liquid handling robots are now commonplace in many research laboratories, and are used for a variety of tasks such as plate washing, reagent dispensing and nucleic acid extraction. In addition to their routine use in drug discovery, laboratory robotics is also being used to create new drugs. For example, automated DNA synthesis and peptide synthesis are both powerful tools that can be used to create new molecules for testing.

The increasing use of laboratory robotics is having a major impact on the speed and efficiency of drug discovery. With more and more tasks being automated, researchers are able to focus on other aspects of their work, leading to faster progress towards new treatments.

There are several reasons for the increasing use of laboratory robotics market in drug discovery.

First, they can automate tedious and time-consuming tasks, such as pipetting and media preparation. This frees up scientists to focus on more complex tasks. Second, they can increase throughput by running multiple experiments simultaneously.
Third, they provide greater accuracy and precision than manual methods, which is critical for drug discovery where failure rates are high.
Finally, they improve reproducibility by ensuring that experiments are carried out in a consistent manner.

Laboratory robotics market is becoming an increasingly important tool in drug discovery. Their ability to automate repetitive tasks, increase throughput, and improve accuracy and reproducibility makes them invaluable for this application.

Some of the Top Market Players Are:

AB Controls
Aerotech
Anton Paar
Aurora Biomed
Biosera
Chemspeed Technologies
Cleveland Automation Engineering
Hamilton Robotics
HighRes Biosolutions
Hudson Robotics
Labman
PerkinElmer Inc.
Protedyne (LabCorp)
Siemens AG
ST Robotics
Tecan Group
Thermo Fisher Scientific
Universal Robots
Yaskawa Electric
Other Prominent Players

About Astute Analytica

Global Used and Refurbished Robots Market is Pegged to Attain Valuation of US$ 5,080.2 Million by 2031

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