In today’s newsletter:
- 📖 Company List: HLTH Event
- 🗞️ Quick Hits from this week’s news
- 🛰️ Industry Radar to keep you ahead on industry trends
- 🔎 Research: How Are Robotics Transforming Industries, and Which Companies Are Leading the Way?
Let’s open the vault 🏦
🤝 HLTH: Company List
We’re thrilled to share that we're attending to the HLTH Event 2024, the leading conference for healthcare innovation, uniting top professionals and thought leaders from around the world.
To boost your networking and keep you informed, we’ve compiled a detailed company list featuring insights on the healthcare organizations attending the event. Whether you’re attending in person or participating online, this resource will help you maximize your HLTH experience! Download the company list here!
🗞️ Quick Hits
Short & sweet—news that caught our eye this week.
📊 In 2023, industrial robots in factories worldwide reached a record 4 million, with China leading at 51% of global installations, totaling nearly 1.8 million robots. While Japan and South Korea see slight declines, India's installations surged by 59% due to automotive demand. The European Union reports a 9% increase in robot installations, driven by the automotive sector.
📡 Industry Radar
Stay ahead of the curve— some of the hottest news & trends across our reference industries paired with some bonus insights from FounderNest.
🔋 Automation and AI Drive 327,000 Patents in the Oil and Gas Sector
The oil and gas industry drives patent innovation, focusing on cost-effective, safe drilling and emerging technologies like AI, IoT, 3D printing, and big data. Over the past three years, 327,000 patents have targeted areas such as automated drilling tools, gas pipeline monitoring, and oil well surveillance. Leaders like Halliburton, Schlumberger, and Baker Hughes excel in automated drilling, leveraging automation to enhance performance and production.
FounderNest Bonus: We got curious about the patents that Baker Hughes has released. The following represent just a small sample of the patents our engine has identified, with more available for exploration.
Sign up on FounderNest for access to more information about this!
🛍️ Logistics Industry Accelerates Robotics Adoption Amid Labor Shortages
In the logistics sector, a dramatic surge in robotics adoption is underway, with 46% of companies planning to integrate these technologies amid persistent labor shortages. This marks a significant leap from 2022's 23%, signaling a pivotal shift towards automation. As nearly three-quarters of firms look to expand their robotic fleets, the future of logistics promises to be both highly efficient and intriguingly automated.
🏥 Urgent Need for Robotics to Address Healthcare Crisis
As hospitals brace for a crisis fueled by an aging population and a severe shortage of healthcare workers, experts highlight the urgent need for widespread robot adoption. With chronic diseases among those aged 50 and over expected to surge by 99.5% by 2050 and a global shortfall of 10 million healthcare professionals by 2030, automation emerges as a crucial remedy to ease the strain on healthcare systems.
FounderNest Bonus: Explore our research to uncover more insights on this topic.
🚜 Agricultural Robotics Market Projected at $86.5 Billion by 2033
The agricultural robotics market is poised for rapid growth, expected to reach $86.5 billion by 2033 with a remarkable 20.5% annual growth rate. Driven by rising labor costs, population growth, and increasing food demand, these advanced technologies are transforming tasks from milking to drone surveillance.
💊 Pharmaceutical Robots Market Poised for Growth
The pharmaceutical robots market is booming, projected to hit $199.6 million in 2023 and expand at an impressive 8.8% CAGR through 2030. Driven by the push for automation in drug discovery and manufacturing, these robots boost efficiency and precision while reducing human error.
📡 How AI is Transforming the Telecom Industry Amidst Growing Challenges
The telecom industry faces challenges such as increasing bandwidth demands, a skills shortage, and outdated infrastructure. AI, along with machine learning and cloud computing, can optimize networks, enhance customer service, and enable predictive maintenance. Successful implementation depends on upskilling, strategic partnerships, and robust security. Balancing human expertise with AI can improve efficiency and adaptability in a changing market.
FounderNest Bonus: What are some of the main technologies driving these changes? Sign up on FounderNest
💶 The Future of Banking: Harnessing AI and ML for Transformation
AI and ML are transforming banking, with investment rising from $35 billion in 2023 to a projected $97 billion by 2027. These technologies automate tasks, enhance customer analysis, and enable personalized marketing. Key challenges include adapting customers, outdated systems, and cybersecurity. Future trends focus on conversational AI and robotics while maintaining human interaction.
🚗 Automotive Sector Tops U.S. Industrial Robot Adoption
The automotive industry leads in industrial robot adoption, making up 33% of U.S. installations last year, driven by the shift to electric vehicles and labor shortages. Companies like Figure and Tesla are developing humanoid robots to improve efficiency, though their practicality compared to wheeled robots is debated. Despite automation's impact on jobs, demand for workers remains strong, with robotics seen as vital for competitiveness.
FounderNest Bonus: Sign up on FounderNest to uncover more trends and companies in the automative industry.
🍴 AI to Boost Food and Beverage Market Growth by $35.21 Billion Through 2028
The AI in Food and Beverage Market is projected to grow by USD 35.21 billion at a 39.47% CAGR from 2023 to 2028, fueled by automation, food safety regulations, and IoT integration. North America will account for 44% of this growth, led by companies like ABB Ltd and Honeywell. Despite data security challenges, AI will drive significant industry advancements.
🚀 SpaceX Sets New Standards in Satellite Launching and Revenue Generation
SpaceX dominates the space launch industry with unmatched cost efficiency, launching to low Earth orbit for $3,000/kg compared to previous $10,000+/kg prices. The company has launched 6,828 Starlink satellites as of August 2024, with plans for up to 42,000. SpaceX achieved 280 launches in the last 4.5 years, with two-thirds dedicated to Starlink. Starlink is projected to generate $6.6 billion in revenue in 2024, rivaling the entire global launch market valued at $9-13 billion
FounderNest Bonus: If you want to dive deeper into this and other topics Sign up on FounderNest
🏗️ Construction Robotics Market Set to Hit $774.6 Million by 2032
There has been significant growth in enterprise technology adoption despite challenging market conditions. Key trends include a surge in generative AI, driven by advancements in large language models, and the rise of electrification. The research indicates a positive long-term trajectory for technology adoption, emphasizing the importance of aligning strategies with external ecosystem factors.
