Impact Of Covid-19 On Professional Service Robots Market

30 April 2020:  When we hear the word robot, many of us picture human-like machines made of metal, but that's not always the case. A Robot can be referred to as a machine able to automatically perform a task or series of tasks based on its programming and its environment.

Before jumping onto professional service robots, we need to be familiar with the word robotics. Robotics is a sub-field of automation that combines several different disciplines, all aimed at creating tools that can perform tasks that are too time-consuming, risky, or need more precision than the average person can perform.

Now, as we are familiar with robotics. Let's hop on to professional service robots.

What is Professional Service Robots?

A professional service robot is a type of robot which is used within a professional environment to perform challenging tasks with higher reliability and efficiency by assisting humans rather than replacing them. They are either semi or fully-autonomous robots and are installed in difficult situations, such as space and defense sectors, agricultural applications, and demolition, to automate hazardous or laborious tasks. Professional service robots primarily find their use in the retail, hospitality, health care, and logistics industries. Lately, owing to the technological advances in the field of artificial intelligence and machine learning, motion control, and various other fields, the market for professional service robots has expanded. The global professional service robots market is expected to reach USD 182.0 billion by 2027, expanding at a CAGR of 41% from 2020 to 2027, according to a research by Grand View Research, Inc.

Uses Of Professional Service Robots

Professional Service Robots are used in a range of industries owing to their productivity. Few of its uses are:

Agriculture: Professional service robots are experiencing high demand in the agriculture sector owing to its capability to perform labor-intensive agriculture practices.

Defense: When used in the defense sector professional service robots primarily assist the military in combat scenarios. Its key job is to enhance a soldier's capability to neutralize the enemy. With the usage of professional service robots in defense, militaries gain an extra edge by giving its soldiers an advantage at the ground level.

Logistics: Professional service robots are primarily used in the logistics industry to move and store goods, to keep the supply chain moving. Professional service robots offer great productivity and efficiency by reducing manual labor.

Customer Service: Professional service robots that come in humanoid and non-humanoid forms are used in the customer service segment. Its key usage involves assisting customers in finding an item or completing a task. These robots are generally deployed in the retail industry to assist the customer.

Healthcare: In the healthcare sector, skilled professional service robots are used to boost the overall quality of patient care. It reduces the workload of medical staff, allowing them to spend more time directly caring for patients, while at the same time creating major operating efficiencies and reducing costs for healthcare services.

Along with these major usages, professional service robots also finds its usage in other segments such as space, construction, inspection, all of which are expected to augment the market growth in the future.

Applications Of Professional Service Robots

The automation of logistics is gaining momentum because of the customer-driven economy, which requires scalable and quick delivery of goods. Automated guided vehicles (AGVs) as the primary application in the logistics industry are used in warehouses to transport goods. These AGVs operate in a predefined pathway for moving and storing goods in the storage facilities. It reduces the timeline of product movement along with reducing the cost of logistics.

The numerous application of healthcare professional service robots include remote care robots, disinfectant robots to reduce hospital-acquired diseases, and robotic exoskeletons that provide external assistance and muscle recovery training. Recently, UVD Robots, a Danish company announced to ship its self-driving disinfectant robots to several hospitals in China to help fight the COVID-19 pandemic.

Defense professional service robots are custom made in different sizes and shapes according to the need of the organization. These tactically important robots serve the military by protecting and helping soldiers in numerous situations. Exoskeleton robots are one of the few professional service robots used in defense applications, these come in various forms to enhance strength and protect soldiers from strain injury. This growing demand for exoskeleton robots and Research & Development in the sector is expected to further propel the growth for the market.

Future Of Professional Service Robots

The future of professional service robots is on the rise owing to the technological advancements which can solve some of the biggest barriers the industry is facing.

The advancements in Artificial Intelligence and Machine Learning techniques can bring professional service robots much closer to the cognitive condition where they can interact with a human in a particular environment. Every step in the development of improving the natural language processing of professional service robots is significant. Apart from cognition, artificial intelligence allows humans to streamline back-end processes, respond to data-related problems, and meet compliance that helps humans to speed up customer service and carry out administrative tasks more efficiently.

The technological advancements in edge Artificial Intelligence (AI) chips which can run on a device without a cloud connection offers big benefits to privacy and speed as AI processing can happen on the device itself. These chips specifically designed for AI computations draw far less power for a given amount of processing, making it easier to fit the necessary number of chips into the design of a professional service robot.

Connectivity is one of the major challenges in the deployment of robots. Professional service robots require a stable and reliable connection whenever it needs to go mobile. Wi-Fi and 4G can't guarantee the quality of service plus 4G wireless networks can be expensive with excessive limitations. This is where the development of 5G technology excites the industry and can solve the issue with improved reliability, reduced latency, and increased connection density.

Impact Of Covid-19 On Professional Service Robots Market

As the number of people infected with the coronavirus continues to rise globally, it is expected to drive the market growth for professional service robots. The outbreak of COVID-19 has left the healthcare sector with staff shortages whereas the need for social distancing has left the service industry high and dry. Professional service robots can fill in the gaps in these sectors. Robots can be deployed in hospitals to minimize human intervention at any level. These robots can perform tasks such as Inspection, Cleaning, Security to assist the staff during this pandemic. For instance, medical professionals in the U.S. are using a telepresence robot that is equipped with a stethoscope which helps take vitals of the infected person. InTouch Health robot, which is fitted with a microphone and a camera communicates with the infected person and minimize medical staff's exposure to the disease.

Retail Automation to Revolutionize Shopping

Mom-and-pop stores have been a staple fixture to purchase all types of goods but with the exceeding demand for goods, retail chain outlets and supermarket chains came to rise. However, increasing population gave way to long waiting times at checkout counters causing inconvenience to customers. Automation aims to change that scenario by providing consumers with more power to ease their shopping needs. Retail automation utilizes various electronic devices and latest technologies to optimize processes in the retail sector. Advent of smartphones and Internet-of-Things (IoT) has encouraged retail stores to ditch legacy products for new devices to attract customers.

Emphasis on a Pleasant Customer Experience

Products used to automate processes and services include barcode and Radio-Frequency Identification (RFID), autonomous guided vehicles, electronic shelf labels, cameras, Point-of-Sale (POS), and others.

The barcode and RFID segment is likely to witness high demand over the forecast period (from 2018 to 2025) on account of the technology being integral in inventory management. The competitive edge it provides over e-commerce stores can also augment segment demand in the forthcoming years. Increasing demand for sophisticated retail services due to high living standards, particularly in developed regions, can bolster the segment growth.

The cameras segment is expected to exhibit a decent growth rate over the coming years due to security concerns regarding shoplifting and administrative errors. In 2017, Poly, a U.S.-based startup gained capital from private investors to provide novel security measures to identify individual customers. Using machine learning (ML) technology and security cameras, it can record shopping patterns to offer customized experiences.

Market Outlook

The global retail automation market valuation is projected to reach USD 19.17 billion by 2025, as per a report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 8.7 % from 2018 to 2025. Increasing demand for technology to streamline processes in the retail sector is expected to be the key growth driver for the market. Adoption of automation across supermarket chains to lower the waiting time of customers is also likely to augur market growth over the forecast period. Self-serving kiosks, which can present new growth opportunities for the market, may also contribute toward its expansion. Prominent market players include NCR Corporation, Fujitsu Limited, Diebold Nixdorf, Incorporated, and ZIH Corp.

Visit @  https://www.grandviewresearch.com/industry-analysis/retail-automation-market

Europium – Most Relevant Commodity in Consumer Electronics

Europium is a rare earth element (REE) with an array of applications in metallurgy, automotive devices, consumer electronics, and optoelectronic devices. Derivatives of europium available in the form of nitrates and oxides are used as doping agents to bond discrete elements. Discovery of REEs in Australia and Japan can bode well for sectors heavily relying on the metal. Methods in recycling consumer electronics are underway in China to extract REEs and reuse them for future production.

Advances in Research to Boost Europium Use

Major end users of europium include anti-counterfeiting, nuclear labs, semiconductors, consumer electronics, lighting, metallurgy, healthcare, automotive, and others. The consumer electronics segment is touted to exhibit a high growth rate due to increasing demand for wearables, smartphones, and 4K television sets. Increased customer budgets and improved connectivity due to advances in networking technologies are expected to significantly influence the segment demand. A group of researchers from the University of Buffalo has managed to successfully control energy levels between europium sulfide and tungsten diselenide when placed on a silicon chip.

The lighting segment is estimated to command a considerable demand of europium owing to increased usage of the element in mercury lamps. Transition to solid state lighting systems such as Light-Emitting Diodes (LEDs) by consumers coupled with a rise in infrastructural projects are expected to bolster the segment growth. In 2014, a group of researchers from reputed institutes succeeded in bonding europium with gallium nitride (GaN) with the help of oxygen. The combination can be used in powering red LED lights, as well as imaging techniques such as the Rutherford Backscattering.

Market Outlook

The global europium market is projected to reach USD 308.9 million by 2025, according to a report by Grand View Research, Inc. It is expected to experience immense growth from 2014 to 2025 (forecast period) thanks to the growing consumer electronics sector. Increasing demand for europium oxide and nitrates are likely to propel market demand during the forecast period. Applications of the element in material sciences, electrical, and energy sectors can increase the ambit of the market in the forthcoming years. Prominent market players include Canada Rare Earth Corporation, Lynas Corporation, Baotou Group, and China Minmetals.

In-depth research report on europium market, click the click below:

https://www.grandviewresearch.com/industry-analysis/europium-market

Bluetooth to Emerge Next Big Thing for High-End Lighting Manufacturers

High-end lightings are characterized by high performance, intensity, and efficiency. They are widely used in industrial, commercial, and residential applications and can be fitted through wired or wireless connections. Technological innovations in the field in the last few years have paved way for features such as color changing, dimmable, and sensor-enabled lightings.

Demand for LED Lights to Rise at Significant Pace through 2025

Some of the common types of high-end lightings are LED, HID, and fluorescent lights. LED lights are expected to account for a large share through 2025. Rising awareness regarding the economic and technological benefits of LED lights such high brightness and efficiency is escalating their sales. Growing popularity of smart and connected homes, which provide greater user control of all in-house electronics from distant locations, is also promoting the adoption of these lights.

LED manufacturers are focusing on technological advancements to develop innovative products, which will further rev up the adoption. To put this perspective, in January 2018, LEDvance launched a new series of LED-based replacement lamps that support Bluetooth mesh wireless systems. The product line includes A19 flex strips and lamps that are suitable for residential applications. LED lights are making inroads in the shares of conventional light sources such as HID lights, owing to the ban imposed by governments in several countries.

Market Insights

As per a study by Grand View Research Inc., the global high-end lighting market is anticipated to rise to USD 24.32 billion by 2025. Rising disposable income of people around the world is induced increased spending on interior designing, which in turn can help the market gain significant momentum. Moreover, surging demand for connected lighting is likely to propel the market. Proliferation of smartphones and improving internet connectivity are supporting the concept of connected lighting.

Asia Pacific is expected to remain at the forefront of the market throughout the forecast period (2017 to 2025). The growth of the market can be attributed to improving infrastructure facilities for manufacturing. Some of the prominent players in the market are CREE, Inc.; Philips Lighting Holding B.V.; General Electric Company; Digital Lumens, Inc.; and OSRAM Licht AG.

Read more at: https://www.grandviewresearch.com/industry-analysis/high-end-lighting-market