Focus on Manufacturing Technology: Two recent reports of note
Two recent IHS Markit Technology reports show a rapidly evolving global manufacturing landscape, driven by new technological forces and innovation. The first report dissects the current state of the global industrial automation equipment (IAE) market, while the second report examines the increasing importance of service robots for the worldwide electric motors market.
In the first report, Industrial Automation Equipment (IAE) Market Tracker Q1 2018, analyst Nitin Sharma projects global IAE revenue to reach more than $209 billion this year, up 4% from 2017. Machines, he says, are becoming more automated, with several factors fueling growth of the IAE market, including rising industrial production and a stronger global economy.
The report also points out that some companies this year will close their doors to new proof-of-concept smart manufacturing projects-that is, until existing and ongoing projects are completed or show a return on investment.
In the second report, Electric Motors in Service Robots Report - 2018, analyst Joanne Goh maps out the terrain now being occupied by both professional and domestic service robots. Robots, she posits, present a greenfield opportunity in the electric motors space, with potential to hit the $1 billion mark by 2022, more than double the $438 million that the market collected in 2017.
In the case of professional service robots, the sector is growing worldwide thanks to emerging technologies like artificial intelligence and augmented reality. Meanwhile, social domestic robots-a group within the domestic service robot category-will be the fastest-growing sector in all or any of the robot markets, with their multiple functionalities to communicate, entertain, educate, monitor, and even perform household chores.
The two reports are part of the Manufacturing Technology research service at IHS Markit-Technology, covering industrial markets, vendors, technology advancements, systems, and equipment. The categories in the service include Capital Equipment & Machinery, Discrete Process & Automation, and Electric Motor Systems.
By IHS Markit Technology Expert
Posted 25 July 2018
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