Worldwide robotics market to touch US $147.26B by 2025
In the global robotics market, dominating companies are hard-focused to utilize their technical and business strength for product innovation and for commercialization of these products to serve the industrial and service sectors that are brimming with opportunities, according to a report by Transparency Market Research (TMR). Leading companies include Fanuc Corporation, iRobot Corporation, Northrop Grumman Corporation and Google Inc. As per TMR’s research, the global robotics market is likely to collect a revenue valuation of $147.26 billion by 2025 at a compound annual growth rate (CAGR) of 17.4 percent for the forecast period of 2017 to 2025. The market attracted a revenue of $35.23 billion in 2016. Vis-à-vis volume, the global robotics market stood at 677.2 thousand units in 2016 and is predicted to amount to 2,731.2 thousand units by 2025 rising at a CAGR of 17.0 percent between 2017 and 2025. Static type robot leads among other type segments as it is widely deployed across various industries such as manufacturing, aerospace, and automotive. North America occupies the leading position in the global robotics market among other key regional segments.
MCAA publishes 2017 compensation report
The Measurement, Control and Automation Association (MCAA) published a report mentioning the impact on high-tech based industries that would result as Baby Boomers retired out of industry professions and young professionals filled the positions. It takes 18 to 36 months to fully train and transition young professionals into their respective industries, including getting accustomed with products and best practices.
In this year’s MCAA Compensation Report, a downward shift took place in base salaries with continuation of incentive or bonus payments in virtually every position. Comments from participants indicated wage freezes are still in effect based on the downturn in the market especially based on oil and gas prices. In a slight shift from prior years, more weight is being put on incentive compensation against performance goals than on base salary increases.
The Compensation Report is based on data contributed voluntarily by its member companies — manufacturers and channel partners. Thirty-seven manufacturers and 15 channel firms comprised the 52 companies that participated in the report. Targeted at salaried positions, but including a wage rate report for both regular and temporary workers, the report covered these categories of personnel: general management (25 positions), field sales and service (18 positions), technical marketing and sales support (12 positions), product design and development (9 positions) and software (eight positions but few being reported).
MCAA represents the measurement, control and automation industry. The association provides community and resources for manufacturers and distributors of instrumentation and systems, used by global industries.
Top 5 vendors in the oilfield process chemicals market
Technavio published a report on the top five leading vendors in the global oilfield process chemicals market from 2017-2021. The global oilfield process chemicals market consists of many players and features a wide range of oilfield process chemicals suitable for different operations such as drilling, cementing, completion and production. According to Technavio, the top vendors are Baker Hughes, BASF, Halliburton, Schlumberger and The Dow Chemical Company.
Baker Hughes — Products and services fall into the drilling and evaluation and completion and production business units.
BASF — Oilfield solutions include drilling, cementing, stimulation, production, and enhanced oil recovery.
Halliburton — Provides oilfield chemicals for applications such as drilling, cementing, completion, stimulation, and well intervention.
Schlumberger — Offers oilfield process chemicals for various applications such as drilling, production, completion, and processing and separations.
The Dow Chemical Company — Chelating agents produced extensively used in oilfield applications such as drilling, production, and oil recovery. Other oilfield applications include acidizing, fracturing fluids, scale control, and dispersants.