#Global Healthcare Assistive Robot Market 2019 Global Healthcare Assistive Robot Market Global Healthcare Assistive Robot Market Production T

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Artificial Intelligence (AI) in Collaborative Robotic (Cobots) Systems Market - Forecast(2024 - 2030)

AI in Cobots Market Overview

The global AI in cobots market in 2021 reached $118.2 million and is estimated to grow at a CAGR of 34.22% during the forecast period to reach $616.3 million by 2027. The entire robotics industry is witnessing the effects of Covid-19 pandemic, with strain felt on the supply chain restricting parts of imports and equipment exports in H1 2021 especially. The overall economic uncertainty also pushed majority of customers to defer purchases in order to conserve capital. Recent advancements in Machine Learning and human robot interaction have enabled collaborative robots to precisely execute tasks in dynamically changing workspaces, enabling operations and material handling to run more smoothly, efficiently and productively. AI is now intelligently powering cobots by leveraging billions of hours of iterative machine learned practices in manufacturing, production and engineering. Collaborative robots (cobots) represent a variant of industrial robots and is currently considered to be one of the fastest growing segments in industrial automation driven by improved technology such as virtual assistants, cloud computing, internet of things. A cobot is a type of robot that is designed to operate alongside humans in shared workspaces. These machines are easy to program and deploy, can increase productivity manifold, and offer high returns on investment.

Report Coverage

The report: “AI in Cobots Market – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the AI in Cobots market

By Payload: Up to 5 Kg, 5 to 10 Kg, Above 10 Kg. By Application: Handling, Assembling/Disassembling, Welding and Soldering, Dispensing, Packaging and Others. By End User: Automotive, Electronics, Semiconductor, Plastics and Polymer, Food and Beverage, Healthcare, Metals and Machining and others. By Geography: North America (U.S, Canada, Mexico), South America (Brazil, Argentina and others), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC (China, Japan India, SK, Aus and Others), and RoW (Middle east and Africa).

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Key Takeaways

Group PSA’s Sochaux plant in France has chosen Universal Robots UR10 for its "Plant of the Future" Project. Two UR10 cobots have been implemented at the Sochaux plant in screw driving applications on body-in-white assembly lines to increase performance and reduce production costs at the factory.

In 2019, Walmart has planned to invest $2.7 billion to add new robots totaling almost 4,000 robots in its stores and facilities in order to shift human workforce to customer service roles. The robots are majorly used for scanning, sorting goods from delivery trucks. This is set to create opportunities for AI in cobots in retail sector.

AI in Cobots Market Segment Analysis – By Application

Material Handling had a major share in the AI in Cobots Market with a value share of approximately 22.3% in 2021. Material handling is one of the major applications of industrial robots. Robots in material handling segment are used in applications such as movement of goods, protection, storage and control of products throughout manufacturing as well as warehousing of the products. Any industries that need to store, receive, dispatch or ship its products always entail industrial robot. Manufacturing and Warehouse operations involving handling of goods becomes complex when it takes place at a larger scale. This is made easy and efficient with the aid of industrial robots. Material handling robots are majorly used in warehousing applications as compared to its counterpart. Material handling applications that benefit from the incorporation of AI cobots encompass picking, packing, palletizing, sorting, and more. The wide-ranging use of these applications makes them a more site-specific solution for safety implementation. Operators and other workers are often moving or transporting other materials around the AI cobot, requiring additional planning to avoid hazardous contact. Safety-rated grippers are rare in the market at the present time. Currently, manufacturers typically use pneumatic grippers, which require safety considerations for impacts and the loss of power or suction. Uses of bar code, RFID, voice-activated receiving and packaging, pick-to-light technology, transportation management system is some of the drifts observed by material handling robots. Cycle counting, annual, physical and perpetual are few approaches of keeping a track of inventory.

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AI in Cobots Market Segment Analysis – By End User

Among industries, automotive held the largest share in 2021 at 23.2%. The industry development of AI cobots is ongoing in several different areas. Faster reaction time, more exact movement patterns, orientation capabilities, capabilities in imitating humans – all these aspects contribute to advancements in AI driven cobot development. In addition, brain-computer interfaces is an exciting area that has made significant progress recently. In recent developments in technologies such as linked data, parallel processing, edge computing and distributed artificial intelligence allow for efficient decision making by cobots, making execution robust and efficient. A challenge with the market deployment of AI cobots is that insufficient technology maturity hinders the market deployment of cobots. AI Cobot technology includes hardware design, sensors and actuators, efficient information processing, video processing, planning and multiple of fields from artificial intelligence landscapes, along with technologies that ensure safety, predictability and security of the solution. There is currently a need for high amount of signaling, bandwidth, low latency, and fast decision-making capabilities through efficient computing for AI driven cobots in safety-critical environments, wherein the facilities do not need human intervention. While the automation industry was affected during the pandemic, the longterm outlook for automation is positive, as end users evaluate their reliance on overseas supply chains and reevaluate their operations in a world where a pandemic can stop production cold. Automation is hence being looked upon as a valuable bulwark against the risks laid bare during the pandemic, and this can act as a strong growth driver for AI driven cobots and robots in industrial automation end user verticals.

AI in Cobots Market Segment Analysis – By Geography

Geographically, APAC held major share of 37% of AI in cobots market share in 2021, owing to high adoption of automation technologies in industrial and automotive warehouses and increasing investments and funding. North America is the next largest market with 33% revenue share in 2021. South America is witnessing the fastest growth rate with a CAGR of around 46.6% during the forecast period 2022 – 2027 owing to high investments and growing deployment of automation technology mainly in the countries such as Brazil, Argentina and Colombia. Portuguese company MOV.AI has announced in October, 2020 that it has raised $4m in funding. The company has designed its ROS for manufacturers of cobots, as well as academics and automation integrators. It also contributes to the ROS community. Some of the robots with AI enabled are YuMi from ABB, Franka Emika Panda, APAS from Bosch, Aura, Aubo, NEXTAGE and CORO etc.

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AI in Cobots Market Drivers

Growing demand for automation and technological advancements set to drive the AI In Collaborative Robotics Market

There has been significant growth in AI driven collaborative robotics market owing to the increased demand for automation, high competition in the e-commerce industry, and the advancement in technologies such as Internet of Things (IoT) and Artificial Intelligence (AI). The use of robots reduces the risk of injury to workforce has also witnessed growth. Integration of robots with artificial intelligence (AI) and machine vision technology has been assisting companies in obstacle detection, navigation, movement of the goods. This has been attracting vendors in automating the warehouses and installing the robots in warehouse, thereby driving the collaborative robotics market. In 2019, Geek Plus Robotics, an intelligent logistics robot solution provider had launched the world’s first interweaving sorting robot, which could be an alternative to conveyor systems. Mobile Industrial Robots (MiR), a leading manufacturer of collaborative mobile robots launched a new warehouse robot to automate the transportation of pallets and heavy goods across warehouses. Development of new robots for various applications of warehouses set to boost the demand of collaborative robotics market.

Growth in E-Commerce Sector

E-Commerce industry is rising at global level of retail and logistics. As a result, growing number of e-commerce companies look forward to automate warehouses. Warehouse robots play a key role in e-commerce industry for various applications such as automated storage and retrieval, picking and placing, order fulfillment operations and many others. Adoption of warehouse cobots by e-commerce companies helps in reducing operational and logistical costs and save on delivery time. This has been increasing automation in warehouses in order to deliver goods to shoppers in faster and more efficient ways by increasing productivity of supply chain. In developed countries such as the U.S., and Canada, Grocery retailers are focusing on deploying robots that bring the shelf stacks to human workers, who pick out the right products and package them up to be sent out. These robots travel with high speed, faster than humans, thereby increasing efficiency of the work. In 2019, Amazon had introduced new warehouse cobots in several of its U.S. warehouses that scan and pack items to be sent to customers. It has started using robots in warehouses, which scans goods coming down a conveyor belt raising the scope of adoption. In 2020 Covariant.ai launched its AI robots and solutions through its warehouse bin-picking robots which is being used by companies such as Knapp, a warehouse logistics company and Obeta, a German electronics retailer. As per estimates, around 2,000 AI powered robots have been deployed across warehouses globally.

AI in Cobots Market Challenges

High Initial Investment

The initial cost of AI driven collaborative robots that are used in factories are high as the cost of automation is much higher in comparison with labor costs. This prevents most companies from completely automating their operations with robots. The average selling prices of cobots vary from $25,000 to $50,000 and does not include the installation costs. In addition to this, there is a training cost associated with the robots that further restricts the operators’ likeability for integrating robots into their operating lines. Slow deployment of collaborative robotic systems by smaller and medium enterprises hampers the robotics market. However, high labor costs are set to drive the collaborative robot market during forecast period.

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AI in Cobots Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the AI in Cobots market. In 2021, the market of AI in Cobots market has been consolidated by the top players

Fanuc

Techman Robots

Rethink Robots

AUBA Robots

ABB

Kawasaki

KUKA

Yaskawa

Staubli

Universal Robots

Recent Developments

In May 2019, the government of Saudi Arabia announced an investment of $30 billion to upgrade warehousing facilities by adoption of the advanced autonomous robots in the newly built warehouses across Saudi Arabia, thereby contributing towards the growth of the cobots market during forecast period in this region.

In October 2019, the South Korean government announced an investment $150 million to develop the intelligent robots for various industrial application which includes warehousing and logistics, thereby enhancing the growth of the cobots market.

[deshpandeisha]

Robotic Endoscopy Devices Market Size Patterns with Our Research Firm

The global robotic endoscopy devices market size reached USD 1,683.1 Million in 2021 and is expected to register a revenue CAGR of 12.7% during the forecast period, according to latest analysis by Emergen Research.

High demand for endoscopy for diagnosis and treatment of target diseases, in addition to rising investments, grants, and funds by governments and global organizations for healthcare infrastructure improvement, and availability of new products and devices equipped with advanced technologies are some of the key factors driving market revenue growth.

Get Download Pdf Sample Copy of this Report@ https://www.emergenresearch.com/request-sample/1036

Competitive Terrain:

The global Robotic Endoscopy Devices industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

The leading market contenders listed in the report are:

Auris Health, Inc., Olympus Corporation. Intuitive Surgical, Brainlab AG, Asensus Surgical US, Inc., CMR Surgical Ltd., avateramedical GmbH, Medtronic, B. Braun Melsungen AG, Boston Scientific Corporation, and AKTORmed GmbH

Key market aspects studied in the report:

Market Scope: The report explains the scope of various commercial possibilities in the global Robotic Endoscopy Devices market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.

Competitive Outlook: The leading companies operating in the Robotic Endoscopy Devices market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.

Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Robotic Endoscopy Devices market.

Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now)@ https://www.emergenresearch.com/request-discount/1036

Segments Covered in this report are:

Approach Outlook (Revenue, USD Million; 2019-2030)

Surgical

Diagnostic

Application Outlook (Revenue, USD Million; 2019-2030)

Laparoscopy

Colonoscopy

Bronchoscopy

Others

End-Use Outlook (Revenue, USD Million; 2019-2030)

Ambulatory surgical centers

Hospitals

Others

Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/robotic-endoscopy-devices-market

Major Geographies Analyzed in the Report:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

ToC of the report:

Chapter 1: Market overview and scope

Chapter 2: Market outlook

Chapter 3: Impact analysis of COVID-19 pandemic

Chapter 4: Competitive Landscape

Chapter 5: Drivers, Constraints, Opportunities, Limitations

Chapter 6: Key manufacturers of the industry

Chapter 7: Regional analysis

Chapter 8: Market segmentation based on type applications

Chapter 9: Current and Future Trends

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NVIDIA Ranks Third on Fortune's '100 Best Companies to Work For' List, Jumping to Highest Rank Yet in Eighth Consecutive Year - Learn More! [https://blogs.nvidia.com/blog/nvidia-life-fortune-100-best-companies/]

RoamNook Blog

Artificial Intelligence Revolutionizing the World: Key Facts and Data

Welcome to the RoamNook blog, where we delve into the fascinating world of artificial intelligence (AI) and its revolutionary impact on various industries. In this article, we will provide you with concrete data and hard facts about AI, shedding light on its real-world applications and why it matters to you. Let's dive in and explore the immense potential of AI.

The Power of AI

AI, or Artificial Intelligence, is the simulation of human intelligence in machines that are programmed to think, learn, and problem-solve like a human. This cutting-edge technology has the potential to transform industries and drive digital growth like never before. With AI, machines can analyze vast amounts of data, recognize patterns, and make informed decisions, leading to increased efficiency, productivity, and innovation.

Impressive Numbers

Let's start by highlighting some impressive numbers that demonstrate the growing importance of AI:

According to a report by Gartner, AI will create $2.9 trillion of business value by 2022.

The global AI market is projected to reach $190.61 billion by 2025, growing at a CAGR of 36.62% from 2019 to 2025.

In 2020, worldwide AI software revenue reached $40.1 billion and is expected to reach $98.4 billion by 2025.

By 2024, 47% of organizations plan to deploy AI across more than two departments.

The AI industry is experiencing rapid job growth, with an annual increase of 74% in AI-related job postings on job boards.

Real-World Applications

AI is already making a significant impact across various industries, revolutionizing the way we live and work. Here are some key areas where AI is being applied:

1. Healthcare:

AI is transforming healthcare by improving disease diagnosis, drug development, and patient care. Machine learning algorithms can analyze medical images, such as X-rays and MRIs, with higher accuracy than human radiologists, leading to earlier detection of diseases. AI-powered robots and chatbots are also being used in healthcare facilities to provide personalized care and assist in surgeries.

2. Finance:

The financial industry is leveraging AI to automate processes, detect fraud, and improve customer experience. AI algorithms can analyze vast amounts of financial data, identify patterns, and make predictions, enabling more accurate investment decisions. Chatbots powered by AI are also being used in customer support to provide instant assistance and personalized recommendations.

3. Transportation:

Self-driving cars are one of the most exciting applications of AI in the transportation industry. AI algorithms enable vehicles to perceive their surroundings, navigate through traffic, and make split-second decisions. Autonomous vehicles have the potential to reduce accidents, traffic congestion, and carbon emissions, making transportation safer and more efficient.

4. Manufacturing:

AI is revolutionizing the manufacturing industry by enabling predictive maintenance, optimizing production processes, and improving product quality. Machine learning algorithms can analyze sensor data from manufacturing equipment to predict failures before they occur, reducing downtime and increasing productivity. AI-powered robots are also being used in manufacturing operations to automate repetitive tasks and enhance efficiency.

5. Retail:

In the retail industry, AI is improving customer experiences, optimizing pricing strategies, and streamlining inventory management. AI algorithms can analyze customer data and behavior to personalize recommendations and create targeted marketing campaigns. Chatbots powered by AI can assist customers in finding products and answering their questions, enhancing customer satisfaction and driving sales.

RoamNook: Fueling Digital Growth

At RoamNook, we are at the forefront of the AI revolution, providing IT consultation, custom software development, and digital marketing services. Our team of experts harnesses the power of AI to help businesses thrive in the digital era. Whether you need assistance with developing AI-powered solutions or creating effective digital marketing strategies, RoamNook is here to fuel your digital growth.

Take advantage of our expertise and innovative technologies to stay ahead of the competition. Contact RoamNook today to embark on your digital transformation journey.

Disclaimer: The information provided in this blog is for informational purposes only. The numbers and data mentioned are based on industry reports and studies and may vary.

Source: https://nvidianews.nvidia.com/news/nvidia-launches-cloud-quantum-computer-simulation-microservices&sa=U&ved=2ahUKEwi9i8evsq2FAxUfEGIAHfHgAXYQxfQBegQIBBAC&usg=AOvVaw1gxx7nMfsYB34cMkWwjM-k

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The Wild World of Surgical Devices: A Whirlwind Journey

Hey there, fellow humans! Today, let’s dive into the fascinating realm of surgical devices. But hey, don’t let the term “surgical devices” scare you off — it’s not all scalpels and bone saws. We’re talking about a world where precision meets innovation, where the tools of the trade are evolving faster than you can say “appendectomy.”

Exploring the Global Surgical Devices Market

So, picture this: a market valued at a whopping USD 15.50 billion in 2022, set to skyrocket to USD 34.80 billion by 2031. Yep, you heard that right — we’re talking about some serious growth here. And what’s driving this wild ride? Well, hold onto your hats, because we’ve got everything from robotic surgical systems to the latest in minimally invasive techniques shaking things up.

Navigating Through the Challenges

But hey, it hasn’t all been smooth sailing. Remember that little thing called COVID-19? Yeah, that put a bit of a damper on things, with ambulatory surgical centers taking a hit and hospitals scrambling to keep up with demand for sterilization solutions. But fear not, dear reader, for the vaccination campaign kickoff and some nifty containment techniques have given the market a much-needed boost.

Demographic Trends and Age-Old Wisdom

Ah, demographics — the silent force shaping our world. With an aging population comes a surge in age-related conditions, which means more surgeries and, you guessed it, more need for surgical devices. Hip replacements for days, folks — approximately 310,800 of them in 2019 alone. Who said getting older couldn’t be exciting?

The Nitty-Gritty: Product Breakdown

Let’s talk turkey — or rather, surgical devices. We’ve got electrosurgical devices leading the charge, followed closely by laparoscopic devices, because who doesn’t love a good minimally invasive procedure? And hey, let’s not forget about wound closure devices and trocars & access devices — they may not get all the glory, but they’re just as important.

The Competitive Landscape: Titans and Underdogs

In this corner, we’ve got the heavy hitters — Medtronic, Stryker Corporation, Johnson & Johnson — you name it, they’ve got a surgical device for it. But hey, let’s not count out the little guys, because in this fragmented market, there’s room for everyone to shine.

Trends, Developments, and Other Fun Stuff

From minimally invasive procedures to robotic-assisted surgery, the world of surgical devices is a hotbed of innovation. And with companies like Johnson & Johnson and Medtronic making waves with their groundbreaking products, the future is looking pretty darn exciting.

Final Thoughts: Where Do We Go From Here?

So there you have it, folks — a whirlwind tour of the global surgical devices market. From the highs of technological advancements to the lows of pandemic woes, it’s been quite the journey. But fear not, because as long as there are surgeries to be done, there will always be a need for the tools that make them possible.

For More Information: https://www.skyquestt.com/report/surgical-devices-market

So here’s to the future of surgical devices — may they continue to innovate, inspire, and maybe even save a life or two along the way. Until next time, stay curious, stay human, and never stop exploring the weird and wonderful world of healthcare. Cheers!

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Force Sensor Market Expected to Reach $3.30 Billion, Globally, by 2027 at 5.3% CAGR: Allied Market Research 

The force sensor industry in Asia-Pacific is expected to grow at the highest rate during the forecast period, owing to enormous development of manufacturing, automotive, assembling, and bulk material handling industries in arising economies. Moreover, economically developed nations tend to witness high penetration of force sensor technology in various vehicle segments, which is projected to significantly contribute to the growth of the market.

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According to a new report published by Allied Market Research, titled, “Force Sensor Market By Operation, Force Type, Technology, and End User: Opportunity Analysis and Industry Forecast, 2020–2027”, the global force sensor market size was valued at $2.16 billion in 2019, and is projected to reach $3.30 billion by 2027, registering a CAGR of 5.30%. The Asia-Pacific region is expected to be the leading contributor to the global force sensor market analysis during the forecast period, followed by North America and Europe.

Download Research Report Sample & TOC: https://www.alliedmarketresearch.com/request-sample/9097 (We look forward to moving quickly to provide the Report Analysis needed for your Business Success)               •135 – Tables               •73 – Charts               •287 – Pages

The overall working principle of force sensors is that they react to the applied force & change the value into a quantifiable figure. There are different kinds of force sensors available in the market dependent on different detecting components. The majority of force sensors are designed by utilizing force-sensing resistors. These sensors comprise electrodes & sensing film.

Prime determinants of growth:

The prominent factors that impact the market growth are increase in demand for automotive products, growing adoption of force sensor in manufacturing application, rapidly rising adoption of advanced driver assistance systems (ADAS), and growing safety regulations. However, volatility in demand restricts the market growth. On the contrary, adoption of internet of things (IoT) technology and rising robot application in industries are expected to create lucrative opportunities for the market. These factors are likely to have a definite impact on the growth of the global force sensor market during the forecast period. 

Report Coverage and Details:

Aspects

Details

By Operation

Analog

Digital

By Force Type

Compression & Tension

Compression

Tension

By Technology

Strain Gauge

Load Cell

Force Sensitive Resistors

Others

By End Use

Automotive

Locomotive

Manufacturing

Mining

Aerospace & Defense

Construction

Healthcare

Others

  COVID-19 Scenario:

The COVID-19 pandemic is impacting the society and overall economy across the global. The impact of this outbreak is growing day-by-day as well as affecting the supply chain. The crisis is creating uncertainty in the stock market, falling business confidence, massive slowing of supply chain, and increasing panic among the customer segments. 

A force sensor is an instrument that measures the amount of force between two surfaces. Force sensors or force transducers translate an input mechanical force into electrical signal at output. Basically, it works as a force sensing resistor in an electric circuit. These force measurement instruments have varying working principles based on factors considered during designing process. They are used to measure weight, mass, pressure, and torque. These sensors can be used over a wide range of temperature. These are used in industries, such as electronics, robotics, chemical, agricultural sector, paper & print, for various purposes. 

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 Leading Market Players:

SENSATA TECHNOLOGIES,

ABB LTD,

FUTEK ADVANCE SENSOR TECHNOLOGY,

TE Connectivity Ltd,

HOTTINGER BALDWIN MESSTECHNIK,

Honeywell International,

ATI Industrial Automation,

SIEMENS AG,

Tekscan Inc,

VISHAY PRECISION GROUP

The report provides a detailed analysis of these key players of the global force sensor market. These players have adopted different strategies such as product development and product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Key Benefits for Stakeholders:

In 2019, analog force sensor accounted for the maximum revenue, and is projected to grow at a notable CAGR of 3.8% during the forecast period.

North America and APAC collectively accounted for more than 58% of the force sensor market share in 2019.

China is anticipated to witness highest growth rate during the global force sensor market forecast.

By Region:

North America (U.S., Canada, and Mexico)

Europe (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)

Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)

LAMEA (Latin America, Middle East and Africa)

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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According to a new market research report "Healthcare Artificial Intelligence Market by Product & Services (Software, Services), Technology (Machine Learning, NLP), Application (Medical Imaging, Precision Medicine, Patient Management), End User (Hospitals, Patients) -Global Forecast to 2027 ", published by Meticulous Research®, the healthcare artificial intelligence market is expected to grow at a CAGR of 41.4% from 2020 to reach $51.3 billion by 2027.

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=4937

In recent years, AI is predominantly used in clinical research, robotic personal assistants, and big data analytics. Classic venture capitalists and corporate strategic investors are both investing generously in this space. The difference today is that new technologies are making such efforts much easier. Use of the cloud and the rapid digitalization of information has improved access to data and the speed of computation. Thus, due to the advantages offered by AI in healthcare, there is a rising funding for artificial intelligence and participation of larger companies in the acquisition of small companies, startups, and single technology firms. Venture capitalist (VC) investors have seen the concept of AI become mainstream and are investing accordingly.

Impact of COVID-19 on the Healthcare AI Market

The COVID-19 pandemic has put tremendous burden on the healthcare sector all over the world. Currently, hospitals are juggling due to limited resources and staff, which has hampered some surgeries and other medical procedures. According to the World Health Organization (WHO), as of April 2020, the COVID-19 pandemic has hit over 22,000 healthcare workers across 52 countries. Also, in severely affected regions, the influx of COVID-19 patients requiring continuous monitoring and ventilation is increasing rapidly, leading to an overloading of hospital systems and disrupting the routine treatment of chronic illness in patients, whose conditions are likely to get worsened if usual standard care is delayed.

To manage the patients affected by pandemic and other chronic illness, AI adoption is seeing high growth across the globe. For instance, owing to the rising coronavirus cases globally, the U.S. FDA has approved ICU-specific platform developed by CLEW Medical (Israel). The product was designed to offer COVID care teams with advance warning on patients at high risk of serious symptoms. It can also help the hospitals to increase the time available for intervening early and planning ahead. Similarly, various AI based products employing data capturing ability and facilitating online consultation have seen large number of users in this pandemic. Therefore, AI is witnessing a high growth in adoption at present and is expected to see upward trajectory in the future as well.

Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=4937

The healthcare artificial intelligence market study presents historical market data in terms of value (2018 & 2019), estimated current data (2020), and forecasts for 2027 - by product & services, technology, application, and end user. The study also evaluates industry competitors and analyzes the market at a regional and country level.

Based on product & services, the software segment is estimated to command the largest share of the overall healthcare artificial intelligence market in 2020. The large share of this segment is mainly attributed to the factors such as ability to reduce operational or administrative complexity, acceleration of data analysis with high accuracy, and rise in the software launches by the medical devices and healthcare IT companies. However, the services segment is slated to grow at the fastest CAGR during the forecast period, mainly due to the rise in the adoption of AI-driven healthcare informatics solutions by hospitals and other healthcare service providers.

Based on application, the hospital workflow management segment is estimated to hold the largest share of the overall healthcare artificial intelligence market in 2020. The factors such as increasing amount of healthcare data generated,  ability to manage medical records and assemble and evaluate patient's data generated in the hospitals, and increased use of Chabot's for customer service engagement are expected to propel the growth of this segment. However, the drug discovery segment is slated to grow with the fastest CAGR during the forecast period, due to the growing implementation of AI by pharmaceutical and biotechnology companies to derive the successful drug product in shorter times and low cost.

Based on technology, the Natural Language Processing (NLP) segment is estimated to command the largest share of the overall healthcare artificial intelligence market in 2020. The factors such as ability to collect large amount of data and handle big data, offering of organized physician documentation, and efficient back-end coding to optimize billing procedure are the major factors responsible for the largest share of this segment.

Based on end user, the hospitals and diagnostic centers segment is estimated to command the largest share of the overall healthcare artificial intelligence market in 2020. Rising focus of the technology companies on collaborations with research sector, AI's ability in assisting preoperative planning in hospitals, and coronavirus pandemic supported the largest share of this segment. However, the healthcare payers segment is slated to grow at the fastest CAGR during the forecast period, due to growth in opting healthcare insurance; and increasing inclination of healthcare facilities to have organized billing and accounts, health claims, and healthcare IT operations in their premises.

Quick Buy – Healthcare Artificial Intelligence Market Research Report:https://www.meticulousresearch.com/buy_now.php?pformat=139&vformat=422

[esgdatainrate]

Packaging Machinery In-Depth Profiling With Key Players and Recent Developments, Forecast Period: 2021-2031

Packaging Machinery Market Outlook -2030

The global packaging machinery market size was valued at $43,520.0 million in 2020, and is projected to reach $69,218.0 million by 2030, registering a CAGR of 4.7% from 2021 to 2030. Packaging machinery performs variety of functions that include canning; container cleaning, filling, and forming; bagging, packing, unpacking, bottling, sealing, and lidding; inspection and check weighing; wrapping, shrink film, and heat sealing; case forming, labeling, and encoding; palletizing and depalletizing; and related applications.

The packaging machinery market has witnessed increased adoption owing to factors such as rise in applications of packaging machinery in a wide range of industries across food & beverages, healthcare, cosmetics, and other consumer goods as well as a range of industrial sectors where packaging has become essential, with increase in the usage broadly in line with the global economy.

The demand for packaging machinery is largely driven by the increase in consumer goods demand, rise in adoption of automated packaging machines, and development of energy efficient machines. Modern automated packaging machines are used in different stages of packaging and ensure that the stages are completed in minutes rather than hours compared to the older versions. The other key factors driving the market for packaging machinery is the increase in demand for packaging robots from several end user industries. Packaging machines play a vital role in ensuring product safety throughout the supply chain.

The market for packaging machinery is segmented on the basis of type, business, end user, and region. By type, the packaging machinery market is categorized into filling machines, form, fill and seal machines (FFS), cartoning machines, palletizing machines, labeling machines, wrapping machines, and cleaning & sterilizing machines. Filling machines have a wide range of applications such as filling fuels, bottles filling, powder filling, and others. This equipment is extensively used in cosmetics, pharmaceuticals, and food & beverage industries. By business, the global packaging machinery market is categorized into OEM, and aftermarket. By end user, the global packaging machinery market is categorized into food & beverage, pharmaceuticals, chemicals, cosmetics, and others. Different types of packaging machinery are used in the food & beverage industry for various applications. Rinsing machines and bottle washers are commonly used packaging machines in the food & beverage industry. The rise in demand for packaged food & beverages fuels the packaging machinery market growth.

Competition Analysis

The key market players profiled in the packaging machinery market report include Aetna Group S.p.A., B&H Manufacturing Company, Inc., Barry-Wehmiller Companies, Inc., CKD Corporation, Coesia S.p.A., Duravant LLC, Fuji Machinery Co., Ltd., Langley Holdings plc, Robert Bosch GmbH, and The Adelphi Group of Companies.

The major players operating in the global packaging machinery market have adopted key strategies such as product launch and business expansion to strengthen their market outreach and sustain the stiff competition in the market. For instance, in August 2019, Syntegon Technology GmbH has developed a fully automated horizontal flow wrapper Pack 403 at Pack Expo 2019 in Las Vegas. It is designed with a Paloma pick-and-place robot for harsh environment use. Similarly, Robopac Ibérica, a subsidiary of Aetna group S.p.A has built a plant in Vinaros (Castellón) for the commercial and technical assistance activities to serve the strategic markets of Spain and Portugal.

Full Report With TOC:-https://www.alliedmarketresearch.com/packaging-machinery-market

[bharat-gyan]

Innovative Ingenuity: The Leading 10 AI Startups from India in 2023

Introduction

In the rapidly evolving world of artificial intelligence (AI), India has emerged as a hub of innovation and technological advancements. As of 2023, numerous startups have been making significant strides in the AI sector, revolutionizing industries and reshaping the future. In this blog, we will explore the top 10 AI startups from India, focusing on their groundbreaking contributions and achievements.

Table of Contents

Introduction

AI Startup Ecosystem in India

The Rise of Bharat Gyan

Top 10 AI Startups from India

4.1 Innovatix Labs: Pioneering Healthcare Solutions

4.2 AutomateIt AI: Revolutionizing Automation

4.3 CogniTech: Advancing Cognitive Computing

4.4 AnalytixHub: Driving Data Insights

4.5 RoboVision: Empowering Robotics with AI

4.6 Synthetico: Redefining Synthetic Media

4.7 NeuroBots: Advancing Brain-Computer Interfaces

4.8 AItronics: Innovations in Electronics

4.9 SmartAI: Transforming Industries with AI

4.10 SensiTech: Enhancing IoT with AI

Challenges and Opportunities

Conclusion

FAQs

7.1 What makes these AI startups stand out?

7.2 How do these startups contribute to India's economy?

7.3 Are there any government initiatives supporting AI startups in India?

7.4 What industries are AI startups disrupting?

7.5 How do investors view the AI startup landscape in India?

AI Startup Ecosystem in India

India's AI startup ecosystem has witnessed remarkable growth over the past few years. With a talented pool of engineers, data scientists, and entrepreneurs, the country has fostered a culture of innovation that attracts both domestic and international investors. The government's support for technology-driven initiatives and a flourishing tech infrastructure has further propelled India's position as a global AI player.

The Rise of Bharat Gyan

Among the numerous AI startups in India, "Bharat Gyan" has emerged as a trailblazer. Founded in 2019 by a group of visionary AI enthusiasts, Bharat Gyan focuses on developing AI-driven solutions for education and knowledge enhancement. Their dedication to enhancing the learning experience has earned them a reputable position in the AI startup landscape.

Top 10 AI Startups from India

4.1 Innovatix Labs: Pioneering Healthcare Solutions

Innovatix Labs leverages AI and machine learning to revolutionize the healthcare sector. Their cutting-edge solutions enable faster diagnosis, personalized treatment plans, and improved patient outcomes. From medical imaging analysis to drug discovery, Innovatix Labs has positioned itself at the forefront of AI-driven healthcare innovations.

4.2 AutomateIt AI: Revolutionizing Automation

AutomateIt AI specializes in process automation and optimization using AI algorithms. By integrating AI into industries, they streamline workflows, minimize errors, and increase efficiency. Their solutions have found applications in logistics, manufacturing, and customer service, transforming the way businesses operate.

4.3 CogniTech: Advancing Cognitive Computing

CogniTech focuses on developing AI systems with cognitive capabilities, enabling machines to mimic human-like thinking processes. Natural language processing, sentiment analysis, and context-aware computing are some of their notable achievements. CogniTech's innovations have facilitated advancements in virtual assistants and sentiment-driven marketing.

4.4 AnalytixHub: Driving Data Insights

AnalytixHub is a data analytics startup that harnesses AI to derive valuable insights from vast datasets. Their predictive analytics models and data visualization tools empower businesses to make data-driven decisions. AnalytixHub's contributions span across various industries, including finance, e-commerce, and marketing.

4.5 RoboVision: Empowering Robotics with AI

RoboVision combines AI and robotics to create intelligent automation solutions. Their robotic systems equipped with computer vision capabilities can perform complex tasks with precision. From industrial automation to smart cities, RoboVision's innovations have opened new possibilities in the robotics domain.

4.6 Synthetico: Redefining Synthetic Media

Synthetico is a pioneer in synthetic media creation using AI-generated content. Their innovations in deepfakes and virtual influencers have attracted attention from entertainment and marketing sectors. While raising ethical concerns, Synthetico's technology showcases the potential of AI in content creation.

4.7 NeuroBots: Advancing Brain-Computer Interfaces

NeuroBots focuses on developing brain-computer interface technology that enables direct communication between the brain and external devices. Their groundbreaking research has implications in healthcare, gaming, and assistive technologies for people with disabilities.

4.8 AItronics: Innovations in Electronics

AItronics specializes in creating AI-driven electronic devices and components. Their products enhance energy efficiency, optimize performance, and enable smart connectivity. AItronics' innovations have found applications in consumer electronics, automotive, and renewable energy sectors.

4.9 SmartAI: Transforming Industries with AI

SmartAI offers AI consulting and implementation services to businesses seeking to integrate AI into their operations. Their team of experts helps companies leverage AI to gain a competitive edge, improve customer experiences, and optimize processes.

4.10 SensiTech: Enhancing IoT with AI

SensiTech focuses on enhancing the Internet of Things (IoT) through AI-driven solutions. Their intelligent IoT devices and platforms enable seamless connectivity, data analysis, and automation. SensiTech's innovations are driving advancements in smart homes, industrial IoT, and environmental monitoring.

Challenges and Opportunities

While India's AI startups continue to thrive, they face challenges such as talent acquisition, ethical concerns, and fierce global competition. However, the opportunities for growth and impact are immense, given the vast potential of AI in addressing real-world problems.

Conclusion

India's AI startup ecosystem has witnessed a surge of innovative companies, and the top 10 startups mentioned above are leading the charge. Their contributions span across diverse industries and showcase India's prowess in AI technology. As these startups continue to push boundaries, the future of AI in India looks promising and exciting.

 FAQs

7.1 What makes these AI startups stand out?

These AI startups stand out due to their pioneering technologies, disruptive solutions, and significant impact across various industries. They have demonstrated a deep understanding of market needs and have effectively utilized AI to solve real-world problems, making them trailblazers in the field.

7.2 How do these startups contribute to India's economy?

By driving innovation, creating job opportunities, attracting investments, and strengthening India's position in the global AI market, these startups contribute to the country's economic growth. Their groundbreaking solutions have the potential to transform industries and drive productivity and efficiency, benefiting the nation's overall economic landscape.

7.3 Are there any government initiatives supporting AI startups in India?

Yes, the Indian government has launched various initiatives and policies to support and nurture the growth of AI startups in the country. Recognizing the potential of AI in driving economic development and job creation, the government has introduced funding programs, grants, and incentives to encourage research and development in the AI sector. Additionally, they have collaborated with academic institutions and industry experts to promote skill development and foster a robust talent pool of AI professionals.

7.4 What industries are AI startups disrupting?

AI startups are disrupting a wide range of industries, including healthcare, manufacturing, finance, e-commerce, robotics, and IoT. Their innovative solutions are transforming traditional processes, optimizing operations, and introducing new possibilities in these sectors.

7.5 How do investors view the AI startup landscape in India?

Investors view the AI startup landscape in India with great enthusiasm. The country's vibrant ecosystem, talented pool of AI experts, and supportive government policies make it an attractive destination for investment. Investors recognize the potential for high returns as these startups continue to innovate and scale, making India a hotspot for AI investments.

Source Link: https://bharatgyan.medium.com/innovative-ingenuity-the-leading-10-ai-startups-from-india-in-2023-374f536e5e9b

[emaanderson]

Robotic Automation Process Market Competitive Analysis, Growth Factors & Key Players Till 2027

Research Nester recently published report titled “Robotic Automation Process Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global robotic automation process market in terms of market segmentation by type of process, operation, industry and by region.          

The global robotic automation process market is segmented by type of process, operation, industryand regions. Based ontype of process, the market is segmented into automated solution, decision support, and management solution. On the basis of operation, the market is segmented into rule basedand knowledge based. The market is further segmented by industry into IT, telecommunication and manufacturing & logistics.

Organizations across industries are increasingly challenged by the growing competition owing to technology advancements and consumer preferences. Moreover, these technologies emphasizes on enhancing the employee experience rather than replacing them. One such technologies gaining rapid traction is RPA (Robotic Process Automation), which handles repetitive and rule-based tasks without human intervention. RPA allowsenterprises to automate repetitive functions and eliminate the possibility of human error.

The global robotic automation processmarket is anticipated to expand at a CAGR of around 30.08% during the forecast period i.e. 2019-2027. Rising demand for Business Process Automation (BPA) through the use of Artificial Intelligence (AI) and software robots is anticipated to be the key growth driver. RPA has an edge over conventional IT automation as it has the potential to adapt quickly to changing situations and learn accordingly and assures broader market penetration. Its ability to deliver accurate results with valuable insights has made it popular to leverage growth in business processes.

Download Sample of This Strategic Report @ https://www.researchnester.com/sample-request-1445

By region, the global robotic automation process market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa, out of which,North America contributed maximum share in the revenueof robotic process automation market. In North America region, U.S. captured more than 60% of the market.

Extensive investments in technological development, presence of the giant players that offer cutting-edge technologies coupled with well-established infrastructure and increasing adoption of robotic automation process in the sectors which includes BFSI, Healthcare, Media & Entertainment, and IT & Telecommunication providing boost to the market growth.Apart from North America,Europe stood at second position in the RPA owing to evolving virtual workforce industry. Asia Pacific is expected to witness significant growth, emerging as a fastest growing economy with countries including China and India.

Increase In Demand For Virtual Workforce

Driversspurring the growth of the global RPA market include significant rise in ease of doing business through this process, inclination in demand for virtual workforce to minimize repetitive human tasks, declining costs of automation software and services, and increased adoption of new automation technologies. Rising demand for virtual workforce globally, particularly in technology and business process outsourcing services, RPA by means of voice recognition software or automated online assistance, can extract information and structure basic content.

Curious about this latest version of report? Obtain Report Details @ https://www.researchnester.com/reports/robotic-automation-process-market/1445

However, its vulnerability to cyber-attack poses a serious threat to the organizations as their confidential documents can get leaked. Additionally, rising incidents of cyber security can adversely impact the growth of the market.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global robotic automation process market which includes company profiling of key companies such as Nice Systems Ltd., Automation Anywhere, Inc., Blue Prism Group Plc.,Ipsoft,Pegasystems, Redwood Software, Uipath, Xerox Corporation,Datamatics Global Services Ltd., Celation Ltd., Open Connect Systems Inc., Verint Systems andCognizant.

The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global robotic automation process marketthat is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.    

Do You Have Any Query Or Specific Requirement? Ask to Our Expert: https://www.researchnester.com/ask-the-analyst/rep-id-1445

[careerbeacon1]

Navigating the Future: Top 10 Promising Career options for Class XII Students in India, 2023 and Beyond!

Navigating the Future: Top 10 Promising Career options for Class XII Students in India, 2023 and Beyond!

As Class XII students in India reach a significant phase in their academic journey, making solid decisions about their future is vital. The job market is constantly shifting with technology and business conditions changing regularly.

To assist these students with selecting an appropriate career plan that offers rewarding opportunities in India throughout 2023 and beyond, we have gathered a list of the top 10 most desirable career options.

Data Science and Artificial Intelligence

India’s demand for data scientists and AI professionals is rising. NASSCOM forecasts that the Indian data analytics industry will reach $3.03 billion by 2025, while PwC India and NASSCOM predict that the AI market in the country will skyrocket to $9.15 billion in the next five years. These figures spell out immense growth opportunities and career prospects in data science and AI.

Renewable Energy and Sustainability

 India focuses on sustainable development through its expanding renewable energy sector. With the government’s goal of 175GW capacity, this sector can potentially create 330,000 jobs, as the Council on Energy, Environment, and Water estimated. Solar, wind and hydroelectric power offer promising career prospects for students devoted to a greener future.

E-commerce and Digital Marketing

Goldman Sachs predicts that the e-commerce market in India will reach $99 billion by 2024. Meanwhile, Dentsu Aegis Network foresees a CAGR of 32% for the digital advertising market from 2019 to 2024. These figures demonstrate the importance of e-commerce and digital marketing careers, with plentiful job openings available within the cyber domain.

Cybersecurity and Ethical Hacking

As cyber threats escalate, there is a growing need for cybersecurity professionals. India witnessed a 37% increase in cyberattacks in 2020, as the National Crime Records Bureau reported. The global cybersecurity market is projected to reach $248.26 billion by 2023, indicating the demand for skilled, ethical hackers and cybersecurity experts. Students with an interest in technology and security can explore this field.

Healthcare and Medical Technology

Advancements in healthcare technology and telemedicine have revolutionized the industry. Frost & Sullivan estimates the Indian telemedicine market to reach a staggering $5.5 billion by 2025. According to TechSci Research, the Indian healthcare IT market is predicted to expand at a Compound Annual Growth Rate (CAGR) of 13.4% during 2021-2026. This sector offers plenty of opportunities for students intrigued by medical research, biotechnology, and telemedicine.

Sustainable Agriculture and Food Science

Careers in organic farming, food processing, and nutrition are becoming increasingly important as the world strives to adopt more sustainable practices. Students interested in contributing to sustainable agriculture and helping alleviate food security issues can explore these career options.

Creative Arts and Media

The creative arts and media sector boasts plenty of potential for those with an aptitude for the arts, design, filmmaking, animation, advertising, and journalism. This industry is ever-growing, furnishing diverse career paths to skilled people.

Financial Technology (FinTech)

The financial technology sector is expanding tremendously. Students can explore and pursue job opportunities in various fields, such as digital payments, blockchain, and financial analytics. Digitization is on the rise, and cashless transactions are becoming increasingly prevalent, thus enabling the FinTech industry to unlock tremendous potential.

Robotics and Automation

Robotics and automation are becoming increasingly influential in various industries, making jobs in robotics engineering, programming for automation, and AI integration more and more accessible. For those who have an affinity for technology, this presents an incredible opportunity to participate in the automation revolution.

Green Architecture and Urban Planning

A focus on sustainable infrastructure and green buildings has meant a surge in the need for careers in architecture, urban planning, and cities of the future. There is a wealth of fulfilling career opportunities for those interested in creating energy-efficient and eco-friendly spaces.

Class XII students can use this article as a guide to inform their career choices. The job market is ever-changing, and these top 10 fields provide ample scope for students to find rewarding opportunities that align with their skills, passions, and interests. Data science, renewable energy, e-commerce, cybersecurity, healthcare, sustainable agriculture, creative arts, FinTech, robotics, and green architecture offer remarkable career options for students to pursue successful and satisfying careers.

[technicaldr]

Impact of technology on the future of healthcare

Global healthcare and IT market size were remarked at a value of US$74.2 billion in 2020.

  The future of the healthcare industry is dynamically changing in front of our eyes with a range of advanced digital technologies, including artificial intelligence (AI), 3D printing, robotics and nanotechnology. Although the sector has familiarised itself with the latest developments to control the technology, there is still a long way to go. Since the pandemic, it has become quite evident how technology can potentially play an important role in shaping healthcare facilities, enhancing their quality and embracing the new digital era.

The global healthcare and IT market size was remarked at a value of US$74.2 billion in the year 2020. It is expected to grow at a rate (CAGR) of 10.7 per cent over the next few years. In line with this, there is a tremendous demand for the adoption of various preventive care measures that will contribute to the advancement of the healthcare division. Hence, this piece will explore how technology can play a dominant role in the healthcare industry and allow the amenities to diversify with its support and explores how technology can revolutionise this industry.

Genome sequencing

The overall human genome project costs approximately a whopping US$2.7 billion which is only expected to rise in the coming years. In 2017, a DNA sequencing company, Illumina had branched out a new machine where the tech giant declared that the whole genome would cost less than US$100. Following the year, the company released a statement saying they are working closely on achieving their target. This means that it wouldn’t be surprising if genetic tests would eventually become as cheap as standard blood tests. With the reliance on technology and digital tools, this niche area has great potential and can act as a viable tool in understanding drug sensitivity, multifactorial or monogenic medical conditions and many others. Such a discovery will only further leverage the advantages of genome sequencing and allow specialists to get more insights into nutrition, genomics and dietetics.

Nanotechnology

We are fast approaching the era of nanomedicine. Perhaps, in the next decade, nanoparticles and nanodevices will soon become popular drug delivery systems and can even play a crucial role in treating cancer. About two years ago, MIT researchers had created an electronic pill that could be controlled wirelessly. It could even relay diagnostic information and release drugs in response to swift smartphone commands. While a lot more testing is necessary for its safe establishment, there is certainly an opportunity to examine such ideas with the aid of technology.

Robotics

One of the most exciting growing fields of healthcare is robotics. From surgical robots to exoskeletons, there has been a massive development in this area. Many experts regard 2019 as a prominent year for exoskeletons. Europe had revealed their first exoskeleton-driven surgery and a tetraplegic who had the capability of controlling exoskeletons with his brain. There are many other robotic applications, from aided nurses to lift elderly patients to the ones with medical conditions related to their spinal cord. In the coming years, we can see robot companions support patients who suffer from loneliness, mental ailments or even assist with children with chronic diseases. As technology advances, there will be more practical applications of robotics in medicine.

In line with this, Capital University College is offering a Masters in E-Health Management, in partnership with Italy’s Rome Business School. The programme is ranked #89 under Eduniversal Ranking 2021, Best Masters. With an ideal balance in knowledge and practical experience, students will be studying under the patronage of SIT – the Italian Society of Telemedicine that will enhance their skills and competencies to learn, manage, understand and apply advanced techniques in the healthcare industry. This is a unique programme that combines electronic processes and communication strategies, bridging the gap between computer, health and communications and enabling one to become specialists in the health and management sector.

Technical Doctor's insight:

Contact Details : inquiry@technicaldr.com or 877-910-0004 www.technicaldr.com

[melssblog]

COBOT usage is increasing across domains – do you use them in your industry yet?

According to emergenresearch.com, the Global Cobots Market is forecasted to grow at a rate of 38.5% from USD 680.3 Million in 2019 to USD 9342.8 Million in 2027.

This is against the backdrop of a growth forecast of USD 45.1 Billion in 2020 to USD 77.4 Billion in 2025 at a CAGR of 11.4% for Top Industrial Robots.

Cobots are driving the growth in the Robotics Market and according to Interact Analysis, cobots will account for approximately 30% of the total robots market by 2027.

With the advent of automation and IIoT (Industry 4.0), many large-equipment manufacturers have adopted robotics in a big way. Earlier, only those manufacturers who had a large floor space to install robots with the requisite safety measures and who could justify the ROI went ahead with adopting robotics. All this has changed with the creation of collaborative robots (cobots). By being able to be deployed alongside humans across different manufacturing lines, cobots have contributed immensely to Industry 4.0.

Not only have cobots brought robotics within the reach of even small-scale manufacturers, but they have also been welcomed by the workforce who can now work alongside cobots. The goal of automation is achieved with quicker turnaround and ROI; all this with utmost precision and efficiency.

COBOT Market  by Industry

Electronics

Currently the cobot models handle payloads from below 5 kgs to above 25 kgs, giving them an exclusivity in low payload models which occupy less floor space and are very economical. Cobots are ticking all the boxes for the electronics industry with an accuracy of 0.1mm or less, ideal for handling delicate PCBs alongside humans. The cobots market is projected to grow at the highest rate for the electronics industry.

Manufacturing

However, in terms of market share, handling applications will hold the largest share. Industries will continue to benefit from the applicability of cobots to repetitive tasks such as pick and place and palletising. Cobots can be placed in close proximity to other machines such as CNC for machine tending, as also near despatch conveyors for packing and palletising. Performing automation tasks with ease, these cobots have helped move the workforce to more meaningful roles while at the same time improving efficiency, productivity and quality.

Automotive

The earliest adoption of robotics was in the automotive sector which employed robots. But with the advancement of technology and the emergence of cobots has ushered in robotics at a much larger scale, with cobots helping in the body shop in welding activities and specialised applications such as screwdriving, in paint shop and in assembly lines.

FMCG

The FMCG sector is increasingly adopting cobots with manufacturing lines in cosmetics, toiletries, beverages and food processing gaining from the collaborative robots. Not only are cobots able to work alongside humans, but they are also improving human experience with food vending and preparation in kiosks and restaurants. With appropriate EOATs, they are helping churn out more hygienic products which are untouched by hand.

Healthcare

The healthcare sector is witnessing an increasing adoption of cobots to help improve patient care; the more routine nursing tasks are carried out by cobots while nurses focus on the actual patient needs. Cobots are helping diagnostic services in handling and sorting of samples. Surgeons, nurses, therapists and assistants are benefiting from the collaborative nature of cobots.

Cobot Market by Component

While the hardware is growing at a brisk pace, the software component is growing at a high rate too. Cobots have made a mark with their easy programmability. Various software tools have forayed into the cobots market adding to their easy setup and quick redeployment. Riding on this growth, End-of-Arm-Tooling (EOATs), which lend flexibility to a cobot, have shown significant growth.

Cobot Market by Geography

While currently the APAC region is dominating in the number of installations worldwide due to the quick ROI offered by cobotsand also due to the huge electronics industry in this region, subsequent years may witness a shift in the balance towards Europe which is adopting cobots due to their inherent safety features.

Although a late entrant, India as a global manufacturing hub for automobiles, electronics and medicines has been witnessing a greater adoption of cobots and will continue to do so in the future.

Robotics, which was earlier the privilege of a select few industries, has now been adopted across a wide range of industry segments and even in research, thanks to the flexibility offered by cobots.

MELSS has been providing many solutions for Industry 4.0, and brings you cobots from the leaders, Doosan Robotics and EOATs from OnRobot. With an experience of more than 25 years across industries, MELSS provides solutions in robotics based on your requirement.

[sanpdr1994]

Medical Chairs Market Research Report : Predictable To Exceed Market Income, Shares and Competitive Landscape 2032

As per Future Market Insights, the global Medical Chairs Market is poised to expand at a CAGR of 6.0%, exceeding a valuation of US$ 7.7 Bn in 2022 to US$ 13.7 Bn by 2032.

Growth in the medical chairs market is increasing in with rising prevalence of physical ailments combined with advancements in control systems. Mobility challenges have long been a source of concern among the elderly, and integrated robotics has prompted a surge in a study into their applications in home-based settings.

As a result, rapid technologically advancements in wheelchairs to be commercialized in developing countries will drive the growth. Electric wheelchairs are extensively utilized in airports, hospitals, theatres, tourist attractions, and other public places.

Get Sample of the Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-14811

The medical chairs market is predicted to expand with growing need of treatment or inspection worldwide. Furthermore, an increase in the geriatric population for rehabilitation purposes is aiding the market growth.

Increased prevalence of chronic diseases, as well as technological developments in the operation and design of medical chairs, are all contributing to the market’s growth. Road accidents, spinal cord injuries, meningitis, and job injuries are all contributing to the medical chairs market’s rise.

Smart wheelchairs are gaining immense traction as they are a blend of state of the art robotics and advanced electronics. Many elderlies who lead a solitary lifestyle prefer the use of these power wheelchairs and their quality of life, in general, has improved. Owing to these trends, the market is anticipated to register a CAGR of 6.0% from 2022 to 2032.

Specialty medical chairs are pieces of medical equipment that aid patients in gaining more flexibility or convenience as a result of various surgical operations. These chairs are designed to provide comfort to patients during treatment and to aid healthcare professionals and physicians in completing the procedure or any other treatment.

The development of the medical chairs market is reliant on the increasing popularity of powered wheelchairs, the rise in the adoption of automotive vehicles and the increase in the prevalence of temporary or permanent mobility issues.

Key Takeaways from Market Study

· Dental chairs hold over 20.0% market value share in 2021 and are expected to display a CAGR growth of 6.0% over the forecast period.

· Based on technology, the hydraulic medical chairs segment accounted for a demand share of over 40.7% in 2021. Hydraulic chairs have simpler, easy to use controls, and are known for their fluid movement and adaptability to broad weight.

· Hospitals held a higher share in the medical chairs market by a value of 21.1% in 2021.

· North America medical chairs market is slated to hold a value share of 36.0% at the end of the forecast period owing to the growing geriatric population and rising cases of paralysis and spinal injuries in the region.

“With rise in capitalization on the adoption of power medical chairs for mobility assistance, the medical chairs market is expected to witness robust growth over the forecast period,” says an analyst of Future Market Insights.

Market Competition

Recognition, acquisitions, expansion, development of an extensive product and product launches are the key strategies adopted by manufacturers and integrators to increase the consumer base in different geographies.

· In October 2021, Invacare Corporation announced a sponsorship agreement with Rob Mendez (football coach), a user of Invacare® Storm Series® Torque™ power wheelchair.

· In January 2019, Midmark Corp. announced the launch of two new bariatric side chairs for extended patient comfort.

What does the report cover?

Future Market Insights offers a unique perspective and actionable insights on the medical chairs market in its latest study, presenting a demand assessment of 2017 – 2021 and projections for 2022 – 2032.

The research is based on products- (patient chairs [reclining patient chairs, manual patient chairs, and convertible patient chairs], x-ray chairs, ophthalmology chairs, dental chairs, surgical chairs, exercise and activity chairs, and paediatric chairs), by technology- (powered medical chair, manual chair, and hydraulic medical chair), and by end-user (hospitals, ambulatory surgical centres, outpatients facilities, speciality clinics, long term care centres, skilled nursing facilities, cancer research institute, and others), across seven key regions of the world.

Key Market Segments Covered in Medical Chairs Industry Research

Product:

Patient Chairs

Reclining Patient Chairs

Manual Patient Chairs

Convertible Patient Chairs

X-ray Chairs

Ophthalmology Chairs

Dental Chairs

Surgical Chairs

Exercise and Activity Chairs

Paediatric Chairs

Technology Type:

Powered Medical Chair

Manual Chair

Hydraulic Medical Chair

End User:

Hospitals

Ambulatory Surgical Centres

Outpatient Facilities

Specialty Clinics

Long Term Care Centres

Skilled Nursing Facilities

Cancer Research Institutes

Others

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MEMS Market - Forecast (2022 - 2027)

The Micro Electromechanical Systems (MEMS) Market is forecast to reach $12 billion by 2025, after growing at a CAGR of 17% during the forecast period 2019-2025. The MEMS Market growth is attributed to increasing applications of miniaturized wireless communication modules and sensors in consumer electronics, automotive, medical and so on. Additionally, MEMS based inertial sensors are also witnessing significant adoption in unmanned aerial, underwater, and ground vehicles, owing to its compact footprint, low power consumption and so on. Moreover, inertial sensors are majorly used for machine condition monitoring in the industrial sector along with supporting the trend of Industry 4.0. Hence, these factors are cumulatively supporting the MEMS market growth, during the forecast period 2019-2025. 

MEMS Market Report Coverage

The report: “MEMS Market – Forecast (2019-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the MEMS Market. 

By Devices: Sensors, Actuators, Inkjet Heads, Fuel cells, Microphones, Accelerometers, Filters, Displays, Others.

By Application: Automotive, Consumer Electronics, Healthcare and Medical, Aerospace & defense, Others.

By Region: North America, South America, Europe, APAC, RoW.

Key Takeaways

Sensors in MEMS are poised to grow at a higher rate during the forecast period, owing to widespread usage of MEMS based gyroscopes, pressure sensors, magnetic field sensors in various consumer electronic devices such as smart phones, wearable and so on.

In 2018, Asia pacific (APAC) is estimated to hold major market share in the global MEMS market, due to broad industrial and consumer base in the region.

In the consumer electronics industry, high usage of miniaturization in devices is resultantly attracting high investments from firms such as Intel corp., Samsung and so on.

Increasing advancements related to low power consumption, high performance of MEMS sensors, stringent vehicle regulations are some major factors boosting the market growth. 

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MEMS Market Segment Analysis - By Devices 

Sensors sub-segment holds a major market share in the MEMS market globally during the forecast period. MEMS based inertial sensors are widely used in automotive for ABS, electronic stability control and so on. Rising stringency in safety regulations and declining components cost will drive the penetration of advanced safety systems in economy class of vehicles. Additionally, growing implementation of Industry 4.0 is driving the demand for various types of sensors including MEMS sensor in machine condition monitoring, predictive maintenance, digital twins and other applications. The development of MEMS based inertial sensors that can withstand harsh industrial environment is thereby witnessing significant R&D to up bring the successful products. Moreover the launch of Bulk Acoustic Wave (BAW) MEMS technology based gyroscope sensor by Qualtre Inc., that are suitable for various applications such as precision robotics, platform stabilization, precision agriculture and so on is boosting the growth of the MEMS market.

MEMS Market Segment Analysis - By Application 

The increasing demand for consumer electronics is boosting the growth of the MEMS market globally. The consumer electronics MEMS market is poised to grow at a CAGR of 16% during the forecast period. To overcome the inefficiencies of conventional wideband antennas, Radio frequency micro electromechanical systems (RF MEMS) based devices are being widely used in consumer electronics, which offer superior performance and smaller footprints in the devices. RF MEMS devices such as capacitors, resonant circuits provide moderate loss, capable of changing antenna’s resonant frequency and operate more efficiently. Moreover, increasing adoption of Advanced Driver Assistant Systems (ADAS) in automobiles; growing stringency in safety regulations; usage of various MEMS based inertial sensor for engine monitoring systems to optimize engine performance; and gradually growing concerns on vehicular emission are some crucial factors supporting the automobile segment growth during the forecast period. Hence, these all factors are cumulatively driving growth of the application segment of the MEMS market during the forecast period. 

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MEMS Market Segment Analysis - By Region 

APAC was estimated to hold the market share of 34% in the MEMS market in 2018. China, Korea and other are some of the major contributors in the regional market growth, owing to the presence of major consumer electronics manufacturers in region. As per Indian Brand Equity Foundation, India is world’s second largest manufacturer of smart phones, with 120 factories as of July 2018, with around 225 million mobile units produced during 2017-2018. In 2017, the major smart phone manufacturing company Samsung announced an investment of $746m to expand its manufacturing capacity in India from 68 million units to 120 million units. Rising number of production plants and revamp of existing plants in the APAC region with growing demand for smartphones will propel the demand for MEMS during the forecast period.

MEMS Market Drivers

Increasing advancement related to low power consumption and high performance in MEMS sensors

MEMS sensors in integration with IoT technologies are growing at a significant rate with rising demand for microphones, speakers, smartphones, and wearable devices. MEMS Accelerometer sensors can lower power consumption significantly, and MEMS gyroscopes enhance device functionality thereby helping in the provision of efficient devices and acting as driving factor for the MEMS market. In June 2019, Sense Photonics, a sensor manufacturing company has received a funding of $26m for the development of high-end sensor technologies in micro electromechanical devices is adding to be one of the growth factors for MEMS market. 

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Government regulations for passenger vehicles

Government bodies in various regions such as Europe, Americas and APAC have passed the regulations addressing vehicle safety in order to decrease the number of road accidents. In 2019, as a part of which the European Commission proposed a revision of the General Safety Regulations to make automotive safety technologies a mandatory requirement in vehicles in Europe. Stringent regulations are pushing automotive manufacturers to implement the latest sensor-based systems. Therefore, increased adoption and implementation of sensor based systems for tire monitoring, electronic stability control, anti-locking braking, and advanced assistance drive are acting as driving factors for the MEMS market growth. 

MEMS Market Challenges

Substitution of MEMS by Nano Electromechanical Systems (NEMS)

NEMS structure feature 0.3 microns size as compared to MEMS structures which are of micron scale, thereby providing better reliability due to reduced load mass. The reduced mass offer higher resistance to mechanical shocks which is commonly experienced by wearable devices, smartphones and others. Moreover NEMS provide a smaller footprint therefore the NEMS based components offer more space for large batteries, additional sensors and others within the enclosure, improving the functionality of the end product. The gradual development of NEMS technology is estimated to impose a severe challenge to MEMS market during the later stages of the forecast period.

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Market Landscape

Acquisitions and product developments are key strategies adopted by players in the MEMS market. The major players present in the market are Broadcom Inc., Robert Bosch GmbH, Texas Instruments, STMicroelectronics, Qorvo, Inc., Knowles Electronics, LLC, NXP Semiconductors, Murata Manufacturing Co., Ltd., Samsung and others.

Partnerships/Mergers/Acquisitions

In May 2018, TDK Corporation has acquired InvenSense Inc. for $1.3 billion which is mainly attributed to strengthen the sensors range of the company, thereby impacting the market growth.

R&D Investments/Funding

Austria-based USound that deals in micro-speakers, received investment amounting $30m in initial months of 2019. So far the company has produced up to 100,000 micro-speakers, and begun investing for development of second generation of MEMS speakers.

In July 2019, Elite partner capital (EPC) has invested $2.2m in TAG Sensors, a manufacturer of sensors for cold chain management thereby impacting the MEMS market.

MEMS Market Research Scope: 

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the MEMS market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of MEMS market, and their specific applications in the consumer electronics, healthcare and medical, automotive, aerospace and defense.

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Healthcare Artificial Intelligence (AI) Market Worth $51.3 billion by 2027

According to a new market research report "Healthcare Artificial Intelligence Market by Product & Services (Software, Services), Technology (Machine Learning, NLP), Application (Medical Imaging, Precision Medicine, Patient Management), End User (Hospitals, Patients) -Global Forecast to 2027 ", published by Meticulous Research®, the healthcare artificial intelligence market is expected to grow at a CAGR of 41.4% from 2020 to reach $51.3 billion by 2027.

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In recent years, AI is predominantly used in clinical research, robotic personal assistants, and big data analytics. Classic venture capitalists and corporate strategic investors are both investing generously in this space. The difference today is that new technologies are making such efforts much easier. Use of the cloud and the rapid digitalization of information has improved access to data and the speed of computation. Thus, due to the advantages offered by AI in healthcare, there is a rising funding for artificial intelligence and participation of larger companies in the acquisition of small companies, startups, and single technology firms. Venture capitalist (VC) investors have seen the concept of AI become mainstream and are investing accordingly.

Impact of COVID-19 on the Healthcare AI Market

The COVID-19 pandemic has put tremendous burden on the healthcare sector all over the world. Currently, hospitals are juggling due to limited resources and staff, which has hampered some surgeries and other medical procedures. According to the World Health Organization (WHO), as of April 2020, the COVID-19 pandemic has hit over 22,000 healthcare workers across 52 countries. Also, in severely affected regions, the influx of COVID-19 patients requiring continuous monitoring and ventilation is increasing rapidly, leading to an overloading of hospital systems and disrupting the routine treatment of chronic illness in patients, whose conditions are likely to get worsened if usual standard care is delayed.

To manage the patients affected by pandemic and other chronic illness, AI adoption is seeing high growth across the globe. For instance, owing to the rising coronavirus cases globally, the U.S. FDA has approved ICU-specific platform developed by CLEW Medical (Israel). The product was designed to offer COVID care teams with advance warning on patients at high risk of serious symptoms. It can also help the hospitals to increase the time available for intervening early and planning ahead. Similarly, various AI based products employing data capturing ability and facilitating online consultation have seen large number of users in this pandemic. Therefore, AI is witnessing a high growth in adoption at present and is expected to see upward trajectory in the future as well.

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The healthcare artificial intelligence market study presents historical market data in terms of value (2018 & 2019), estimated current data (2020), and forecasts for 2027 - by product & services, technology, application, and end user. The study also evaluates industry competitors and analyzes the market at a regional and country level.

Based on product & services, the software segment is estimated to command the largest share of the overall healthcare artificial intelligence market in 2020. The large share of this segment is mainly attributed to the factors such as ability to reduce operational or administrative complexity, acceleration of data analysis with high accuracy, and rise in the software launches by the medical devices and healthcare IT companies. However, the services segment is slated to grow at the fastest CAGR during the forecast period, mainly due to the rise in the adoption of AI-driven healthcare informatics solutions by hospitals and other healthcare service providers.

Based on application, the hospital workflow management segment is estimated to hold the largest share of the overall healthcare artificial intelligence market in 2020. The factors such as increasing amount of healthcare data generated,  ability to manage medical records and assemble and evaluate patient's data generated in the hospitals, and increased use of Chabot's for customer service engagement are expected to propel the growth of this segment. However, the drug discovery segment is slated to grow with the fastest CAGR during the forecast period, due to the growing implementation of AI by pharmaceutical and biotechnology companies to derive the successful drug product in shorter times and low cost.

Based on technology, the Natural Language Processing (NLP) segment is estimated to command the largest share of the overall healthcare artificial intelligence market in 2020. The factors such as ability to collect large amount of data and handle big data, offering of organized physician documentation, and efficient back-end coding to optimize billing procedure are the major factors responsible for the largest share of this segment.

Based on end user, the hospitals and diagnostic centers segment is estimated to command the largest share of the overall healthcare artificial intelligence market in 2020. Rising focus of the technology companies on collaborations with research sector, AI's ability in assisting preoperative planning in hospitals, and coronavirus pandemic supported the largest share of this segment. However, the healthcare payers segment is slated to grow at the fastest CAGR during the forecast period, due to growth in opting healthcare insurance; and increasing inclination of healthcare facilities to have organized billing and accounts, health claims, and healthcare IT operations in their premises.

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Geographically, the global healthcare artificial intelligence market is estimated to be dominated by North America in 2020. Well established IT infrastructure in healthcare, presence of innovative software vendors and venture capitalists, rising adoption of EHR, flourishing biopharmaceutical industry, rise in funding for new product development, and increasing number of startups for healthcare artificial intelligence in the region supported the largest share of North America in the healthcare artificial intelligence market. However, Asia Pacific region is expected to grow at the fastest CAGR during the forecast period. The factors driving the growth of the Asia Pacific healthcare artificial intelligence market are growing need for coordination between healthcare workforce & patients, rise in adoption of precision medicine, growing prevalence of diseases, and remarkable growth in venture capital investments. In addition to this, the factors such as significant use of big data in the healthcare sector, growing technological innovation, and demand from China are also supporting the growth of the healthcare AI market in the APAC region.

The report also includes extensive assessment of the product portfolio, geographic analysis, and key strategic developments adopted by leading market participants in the industry over the past 4 years (2017–2020). The healthcare artificial intelligence market has witnessed number of new product launches, approvals, agreements, partnerships, collaborations, and acquisitions in recent years. For instance, in May 2020, Nvidia Corporation (U.S.) collaborated with IBM Corporation (U.S.) to accelerate the deployment of edge networks. IBM's Edge Application Manager on the NVIDIA EGX platform provides world-class software management on the most powerful offering for accelerated computing and AI. Also, in October 2019, Microsoft Corporation (U.S.) partnered with Humana Inc. (U.S.) to build predictive and personalized health care solutions to manage health issues.

The key players operating in the overall healthcare artificial intelligence market are Microsoft Corporation (U.S.), Alphabet Inc. (U.S.), NVIDIA Corporation (U.S.), General Vision, Inc. (U.S.), Intel Corporation (U.S.), IBM Corporation (U.S.), Welltok, Inc. (U.S.), General Electric Company (U.S.), Verint Systems Inc. (U.S.), and iCarbonX (China) among others.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/healthcare-artificial-intelligence-market/  

Scope of the Report:

Healthcare Artificial Intelligence Market, by Product & Services

Software

Hardware

Services

Healthcare Artificial Intelligence Market, by Technology

Machine Learning (ML)

Natural Language Processing (NLP)

Context Aware Processing

Querying Method

Healthcare Artificial Intelligence Market, by Application

Hospital Workflow Management

Patient Data and Risk Analytics

Medical Imaging And Diagnosis

Drug Discovery

Precision Medicine

Patient Management

Other Applications

(Other applications comprises of bioinformatics, wearable devices, and virtual assistance.)

Healthcare Artificial Intelligence Market, by End User

Hospitals and Diagnostic Centers

Pharmaceutical and Biopharmaceutical Companies

Healthcare Payers

Patients

Other End Users

(Other end users comprise of accountable care organizations, clinical research organizations, and managed care organizations)

Healthcare Artificial Intelligence Market, by Geography

North America

U.S.

Canada

Europe

Germany

France

U.K.

Italy

Spain

Rest of Europe (RoE)

Asia-Pacific (APAC)

Japan

China

India

Rest of APAC (RoAPAC)

Latin America

Middle East & Africa

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Healthcare Companion Robots Market is estimated at about $3 Bn in 2020 and is likely to grow at a healthy CAGR close to 20% from 2020-2025

Companion robots offer companionship and emotional support for the children, elderly, and disabled people. The advancements in AI, sensors, and actuators over time have increased interest in companion robots.

GlobalHealthcare Companion Robots Marketis estimated at about $3 Bn (2020), growing at a CAGR close to 20% through 2020-2025. The growing need for companion robots for the elderly care and children is driving the growth of the healthcare companion robots market.

A growing aging population, the rising cost of elder care, and shortage of caregivers

The population across the globe is aging and the number of caregivers in relation to the aging population is declining. By 2025, it is predicted that Japan will have a 1 million caregiver shortage. Additionally, the cost of elder care is also rising. Between 2019 and 2020, the cost of in-home care jumped by about 4.4%; assisted living costs surged by 6.2%; and nursing home costs increased by 3%. Instead, using robots might lower this cost.

For instance

A monthly service contract for Stevie (a robot developed by Trinity College, Dublin) would likely run between 50-60% of the cost of hiring a human to do the same tasks, as per their claim.

“The growing disparity between healthcare workforce and aging population is a concern in many countries and we believe companion robots have a great role to play in bridging this gap”– CEO, Leading Medical Robots Company

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Healthcare Companion robots demand surged during the COVID-19 pandemic

Demand for companion robots increased during the pandemic as lockdowns intensified isolation problems. Companion robot sales of the company called Sharp increased 30% during the September quarter of 2020 compared to the same period last year. In addition, companies introduced brand-new robots to assist COVID-19 infected/isolated persons. In June 2021, Hanson Robotics unveiled Grace, a robot developed to interact with COVID-19 people who are elderly and isolated.

New product launches to drive growth in developed and emerging markets

New product launches are anticipated to increase the adoption of companion robots due to an ageing population and rising life expectancy.

For instance,

in March 2022, Intuition Robotics announced the commercial launch of its digital care companion, ElliQ in South Florida (U.S.). Further, Emotix has developed a companion robot (Miko) targeted towards children of young parents in India.

Competitive Landscape Analysis of Healthcare Companion Robots Market

Some of the key players in the global healthcare companion robots market are Blue Frog Robotics, ASUS Zenbo, Intuition Robotics, No Isolation, Luvozo, Honda Robotics, Paro (AIST), DFRobot, Hanson Robotics, among others.

For More Detailed Insights, Contact Us @ https://meditechinsights.com/contact-us/

About Medi-Tech Insights

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

Contact:

Ruta Halde

Associate, Medi-Tech Insights

+32 498 86 80 79

info@meditechinsights.com