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GreyOrange and Hai Robotics Forge Powerful Alliance for Enhanced Robotic Fulfillment Solutions

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Global Logistics, Global Trade Daily, News, Technology, Warehousing

GreyOrange and Hai Robotics Forge Powerful Alliance for Enhanced Robotic Fulfillment Solutions

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GreyOrange Inc., a global leader in automated robotic fulfillment and inventory optimization software, and Hai Robotics, a prominent player in Automated Storage and Retrieval Systems (ASRS), have strengthened their strategic partnership, bringing significant competitive advantages to their customers. Over a span of more than two years, the collaboration between GreyOrange’s software and Hai Robotics’ hardware has proven instrumental in elevating throughput, storage density, and agility, thereby accelerating customer operations and fostering growth.

Having successfully completed over 10 projects together in just two years, GreyOrange and Hai Robotics have effectively addressed complex fulfillment operations for major retailers, including the largest U.S. retailer, one of the world’s biggest fashion retailers, and various large-scale retailers across the U.S. and Europe.

The synergy between GreyOrange’s fulfillment orchestration platform, GreyMatter™, leveraging Multi-Agent Orchestration (MAO) capabilities, and Hai’s Tote to Person AMRs and GreyOrange’s Rack to Person AMRs on a unified grid has streamlined operations in warehouses and distribution centers worldwide. Hai Robotics’ ASRS, powered by Autonomous Case-handling Mobile Robots (ACR), offers unmatched flexibility and industry-leading storage density for various items within an automated storage system.

Hai’s goods-to-person systems, adaptable to industry-standard racking and containers, can achieve varying heights up to 10 meters and store containers up to 5 totes deep. This adaptability, combined with GreyMatter, results in maximized operational efficiency, increased speed in order fulfillment, and improved order accuracy.

Brian Reinhart, Chief Revenue Officer at Hai Robotics, highlighted the revolutionary impact of the partnership, stating, “What we’ve done together is provide end users with the throughput they need to meet their growing demand, the storage density to make the best use of their warehousing space, as well as the flexibility so that they’re not tied down in this ever-changing environment.”

Akash Gupta, Co-Founder and CEO of GreyOrange, emphasized the customer-centric approach, noting, “This partnership combines our cutting-edge GreyMatter software that orchestrates the largest and most complex robotic installations in the world with the vertical AMRs from Hai Robotics, including a first of its kind five deep storage solution.”

The collaboration has also led to innovations such as simultaneous orchestration of GreyOrange AMRs and Hai Robotics ACRs with GreyMatter, enabling direct picking into on-demand packing boxes and eliminating extra touches in picking operations. Furthermore, the partnership has contributed to a fully integrated Micro-Fulfillment Center (MFC) solution with industry-leading storage density, offering unparalleled efficiency in fulfilling orders in less than an hour.

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Global Logistics, Global Trade Daily, Technology

What Challenges Technology Brings with The Industrial Revolution

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Recent tech advancements have opened doors to various new opportunities. Automation, digitalization, and data analytics– technologies like these are now a part of the industrial revolution, driving innovation and fostering growth in the industry. However, the merge of industrial revolution and technology comes with challenges too. Let’s discover what this alliance can offer and how to battle the obstacles and reshape the future. 

How Technology Is Transforming Industries

Another industrial revolution is emerging with the help of advanced technology, bringing significant good and bad changes. The traditional industrial processes are no longer fruitful because of the automation, digitalization, and revolution of processes. Staying in the competition is crucial for businesses, making them shift from traditional to advanced processes. 

This shift is entirely changing the business landscape while playing a key role in decision-making. Since data and analytics are more critical in the digital age, they influence decision-making. 

Find out how automation, digitization, data analytics, and advanced manufactured processes have changed the landscape of traditional processes and decision-making below: 

Automation in Industries Creating Job Displacement 

Robotics and artificial intelligence advancements have streamlined a vast portion of industrial processes. Automation technology has eliminated repetitive tasks and routines, creating job losses in some industries. 

Although this reduced the dependency on manual labor, it also made the processes more productive and efficient. Such job displacement is short-term as automation also raises the demand for reskilling and upskilling workers who can handle higher-value jobs. Now the industrial workforce is going through a revolution as it requires the power of unique human skills. 

Industrial Digitalization Gives Rise to New Business Models 

Newer technology enabled the digitalization of technologies where businesses are switching from traditional processes to digital workflows. Digitalization helps businesses streamline operations, improve customer experiences, and develop new business models. 

Digitalization is emerging with new opportunities. Companies can now enhance efficiency, personalize offerings, and explore innovative revenue streams utilizing many digital platforms, cloud computing, and data analytics. 

Data and Analytics Helping in Decision-Making 

Technologies like machine learning, big data analytics, and predictive modeling are now used to extract valuable insights. Businesses are using such technologies to collect data for high-level decision-making. The boom in data and analytics has helped businesses optimize operations, target customers, and develop informed strategies. Furthermore, data analysis also helps companies cope with market changes and improve customer satisfaction. 

Manufacturing Technologies Powering Up Production & Distribution 

Advanced manufacturing technologies have emerged as a powerful force in transforming industries. For example, 3D printing is now used for complex and customized object creation, reducing prototyping costs while improving production. 

Changes in manufacturing technologies allow businesses to reduce costs and improve efficiency. This also opens up a new array of distribution scopes using the latest retail models. Allowing businesses to reach global customers. 

The Rise of The Digital Economy

Technology has unlocked new growth opportunities. Advanced communication and a range of digital facilities allowing businesses to build an online presence, adapt new economic activities, and easily reach global audiences. 

Such advancements have led to the rise of the digital economy. More businesses are coming online where they can easily access the global market. Entrepreneurs, small businesses, and established companies can grow and scale by leveraging the latest technologies. 

Challenges Brought by Recent Technological Revolution 

Technological advancements have indeed brought significant benefits and opportunities. But there are also some challenges on the path. Two major challenges are the rise of the gig economy and the digital divide.

The gig economy leads to a shift in the workforce. It offers flexibility and independence to workers but lacks traditional employment stability. Gig workers often face income instability, limited access to social protections, and a lack of job security.

The new employment models seek employees with technology skills. This workforce transformation poses a bigger challenge for those with limited access to the latest technology. In parts of the world, access to the Internet, education, and technological training is still limited. This is why not everyone can participate in this technology-based economy, which creates new inequalities and a digital divide. 

Ensuring an Inclusive Economic Development

We cannot stop the technological boom reshaping the economy and throwing some challenges in our way. Instead, we can take measures to navigate the obstacles and embrace the revolving technologies to ensure inclusive economic development. 

To tackle the challenges, government, businesses, and individuals should come forward and make efforts. Individuals should put efforts to fit into the changing economy. For this, they should work on themselves and update their skills regularly. Governments and businesses should support this skill improvement by offering education and training. In such cases, adaptation of policy and regulation is also necessary to keep things fair and balanced.

The digital divide is another concern the government should address. They need to promote policies that encourage businesses to make solutions to meet the needs of a diverse user base. For that, leaders can offer trophies or certificates as encouragement. It’s crucial that everyone, including government and businesses, understand the role of ethical implications. 

Mike Szczesny is the owner and vice president of EDCO Awards & Specialties, a dedicated supplier of employee recognition products and trophies, branded merchandise, and athletic awards. Szczesny takes pride in EDCO’s ability to help companies go the extra mile in expressing gratitude and appreciation to their employees. He resides in Fort Lauderdale, Florida.

 

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Global Trade Daily, Market insight, Technology

Telepresence Robot Market is Estimated to reach US$ 1.6 Billion by the End of 2033

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The global telepresence robot market is expected to reach a valuation of US$ 1.6 billion by the end of 2033, expanding at an exceptional CAGR of 17% during the assessment period (2023 to 2033). Rising demand for telepresence robots from the healthcare industry is expected to drive market growth opportunities over the next 10 years.

A telepresence robot is a smartphone- or computer-controlled robot with an alien presence. Telepresence robots are also referred to as ‘Skype on Wheels’. Telepresence avatars offer various varieties and the robot can control the complete view of its surroundings instead of having a stationary view of target participants.

Improved operational efficiency in different medical organizations owing to technological advancements and virtual interactions through telepresence robots is anticipated to drive market growth. Telepresence robots come with different features, including zoom capabilities, laser pointers, and self-directed driving for improved convenience and communication. Users can interact and view remote environments, including manufacturing plants, nursing homes or hospitals, and warehouses, by using these robots.

Get Crucial Business Analysis (PDF): https://bit.ly/3KYpZnX

Key Takeaways from Market Study

  • The global telepresence robot market is valued at US$ 334 million in 2023.
  • Worldwide demand for telepresence robots is predicted to increase at a high-value CAGR of 17% from 2023 to 2033.
  • The global market is forecasted to reach a valuation of US$ 1.6 billion by the end of 2033.
  • North America is projected to hold a significant share of global market revenue over the next 10 years.

“Growing advancements in robotic technology, increased adoption of telepresence robots in residential & educational sectors, and rising R&D activities for product advancements are predicted to generate lucrative opportunities for players in the target industry,” says a Fact.MR analyst.

Increasing Demand for Telepresence Robots in Healthcare Industry

In recent years, there has been a noteworthy increase in the demand for telepresence robots in the healthcare industry, which is further accelerating growth opportunities. Increased adoption of telepresence robots is attributed to the easy availability of supporting devices due to their cost-effectiveness. Moreover, technological advancements in telepresence robots to increase the operational effectiveness of medical procedures are also contributing to enhanced market growth.

Market Suffering from Rising Technical Complexities and Lack of Secure Communication Protocol

There are certain technical complexities, which are leading to operational failures. These complications associated with the operation of telepresence robots are also estimated to curtail expansion opportunities. The lack of a secure communication protocol is also anticipated to further challenge providers of telepresence robots.

Winning Strategies

Key market players are investing in new developments, product launches, etc., to provide more efficient solutions and to gain a competitive edge in the industry.

For instance,

  • In February 2020, GoBe Robots introduced a new telepresence robot, which is predicted to reduce the emissions of CO2 by thousands of tonnes.
  • In August 2019, Blue Ocean Robotics acquired Beam, which is a remote-controlled telepresence robot. As per Blue Ocean Robotics, the company has taken sole possession of facilities, which work on hardware inventories, Beam robots, and other related assets.

Key service providers of telepresence technology are Double Robotics, Suitable Technologies, Inbot Technology, Mantaro Networks, VGO Communications, Qihan Technology Co. Ltd., Ava Robotics Inc., Omron Corporation, iRobot Corporation, and Fellow Inc.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the telepresence robot market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).

The study divulges essential insights into the market based on component (head, body), type (stationary, mobile), and application (education, enterprise, healthcare, homecare, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

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Archives, Global Trade Daily, Market insight, Technology

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

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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

 

Archives, Global Trade Daily, Market insight, Technology

Global Industrial Robotics Market Soars to Unprecedented Heights

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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