News » World News The Internet of Things ‘will be worth $400bn in ten years’
The Internet of Things (IoT) market will be worth more than $400bn within ten years, according to a new report from a French technology analyst, Yole Développement. It predicts that revenues from IoT devices alone will soar from $9.5bn this year to $46bn by 2024, when the income from associated cloud computing services will be worth $59bn and the processing of IoT data will be worth $296bn.
Europe’s €2.8bn robotics initiative is ‘world’s largest’
The European Commission has joined forces with the robot industry and researchers across Europe to launch what they claim is the world's largest-ever programme of civilian research and innovation in robotics. They predict that the €2.8bn ($3.8bn) Sparc programme, spread over seven years, will create more than 240,000 jobs in Europe and to raise EU’s share of the global robotics market from 35% at present to 42% by 2020.
Global sales of industrial robots head above $40bn
The global market for industrial robots will grow at an annual rate (CAGR) of 5.4% between 2013 and 2020, reaching a value of $41.17bn by the end of the decade, according to a new report from Allied Market Research. The market, which was worth $26.78bn in 2012, is being fuelled by a rapid growth in automation, coupled with a reduction of duties on refurbished goods in the Asia-Pacific region, says the report.
Swiss wireless firm buys Sweden’s connectBlue for $28m
The Swiss wireless specialist u-blox is buying connectBlue, the Swedish supplier of short-range industrial radio modules, for SEK185m ($28m). U-blox says that the acquisition will enhance its portfolio of positioning and cellular wireless communications systems with short-range communication products that cater for the fast-growing Internet of Things market.
Wireless standards dispute could lead to industrial failures
A leading European trade body is warning that at row over wireless communications standards in Europe could lead to “major industrial wireless failures”. Gambica, the trade organisation for the UK control and automation industry, predicts that a new European wireless standard could lead to “graceful degradation” of industrial wireless installations.
US manufacturers losing 11% through skills shortages
US manufacturers may be losing up to 11% of their earnings as a result of increased production costs arising from a shortage of skilled workers, according to a new survey from The Manufacturing Institute and Accenture.
White is the new orange for ABB industrial robots
After 40 years of painting its robots a distinctive orange colour, ABB has announced that it is changing their standard colour to “graphite white”.
New US motor efficiency standard will save $16bn
The US Department of Energy (DoE) has announced a new efficiency standard for electric motors that, it predicts, will save consumers nearly $16bn and reduce carbon emissions by 96 million tonnes in the period 2030. The new standard, which updates a 2010 version, will come into effect two years after it is published in the US Federal Register.
GE buys Canadian cyber-security firm, Wurldtech
GE is buying the Canadian cyber-security specialist Wurldtech, for an undisclosed sum. The move is one of several by GE to help protect critical infrastructure and to advance cyber-security efforts globally for key industries.
Google announces $1m prize for a smaller inverter
Google is offering a $1m prize to encourage the development of smaller, more efficient inverters, principally for solar power applications.
Digitalisation is key to Siemens’ latest reorganisation
In the latest of a series of reorganisations, Siemens is creating a flatter management structure by eliminating its Sector level (including the current Industry sector) and slimming down from 16 to nine divisions. The changes take effect from October 1, 2014.
Danish robot-maker plans to grow ten-fold at new HQ
Universal Robots, the Danish manufacturer of lightweight industrial robots, has moved to new headquarters, with the aim of boosting its turnover to one billion Danish kroner (€133m) by 2017 – a ten-fold increase over the figure for 2013.
Registration service provides LV AC drives with a ‘passport’
ABB has launched a free service for users and servicers of its low-voltage AC variable-speed drives. It allows them to register their drives online or via a smartphone app. In return, ABB will offer recommendations about maintenance and upgrade services that will help to extend the lifetime of the equipment.
End of Windows XP support leaves users vulnerable to attacks
Many thousands of industrial users of the Windows XP operating system could be vulnerable to cyber-attacks following Microsoft’s decision to end official support for the system from April 8, 2014. Since that date, the company has stopped issuing security updates and providing technical support for the 12 year-old operating system.
Industrial machinery growth rate ‘will double in 2014’
The global market for industrial machinery will expand by 6.3% this year – more than twice as fast as the 2.9% achieved in 2013 – according to a new report from IHS Technology, which predicts that total revenues will rise from $1.5 trillion in 2013 to $1.6 trillion this year.
