Accidents are unexpected and can have a devastating impact on the physical, emotional, and financial health of the individuals involved. While we can’t predict accidents, we can prepare for their aftermath. This preparation often comes in the form of insurance, and in the context of organizations, Group Personal Accident Insurance Policies offer an excellent safety net. This blog post will delve into the key factors you should consider when comparing these policies.

What is Group Personal Accident Insurance?

Group Personal Accident Insurance is a policy that provides compensation to a group of individuals, generally employees of an organization, in case of accidental injuries, disabilities, or death. It ensures financial support for medical expenses, loss of income, and other related costs.

Key Factors to Consider

When comparing different Group’ Personal Accident Insurance policies, here are the top factors to consider:

Coverage: The extent of coverage is the primary aspect to look at when comparing policies. Ensure the policy covers a wide range of accidents, including minor injuries leading to temporary disability, and severe incidents causing permanent disability or death. Also, check if the policy offers global coverage, which can be critical for employees traveling internationally for work.

Additional Benefits: Some policies offer additional benefits, such as child education support, funeral expenses, hospital cash, or repatriation of remains. While these may not seem essential initially, they can significantly alleviate financial burdens during difficult times.

Exclusions: All insurance policies come with certain exclusions or scenarios where the policy will not provide coverage. Common exclusions may include accidents due to war, civil unrest, intentional self-harm, or participating in hazardous activities. Understand these exclusions to avoid surprises at the time of claim settlement.

Premium: The cost of the premium is a significant factor to consider. Look at the cost-to-benefit ratio—how much coverage and what benefits are being offered against the premium charged. Remember, the cheapest policy may not always be the best one if it doesn’t provide adequate coverage.

Claim Settlement Ratio: The claim settlement ratio is a clear indicator of an insurance company’s reliability. It is the ratio of the total number of claims settled by the insurer to the total number of claims received. A higher ratio indicates a better chance of your claim being settled.

Flexibility: Some insurers offer flexible policies where you can choose the coverage options that best suit your employees’ needs. This flexibility can be beneficial in tailoring a policy that provides comprehensive coverage without incurring unnecessary costs.

Ease of Claim Process: In the event of an accident, the last thing you want is a complicated claim process. Look for insurers known for their hassle-free and swift claim process.

Customer Service: Efficient and responsive customer service is crucial when dealing with insurance policies. Check for insurers who are known for their excellent customer support.

In Conclusion

Choosing the right Group Personal Accident Insurance policy is a critical task for any organization. It not only provides a safety net for employees but also shows the organization’s concern for its employees’ wellbeing. While cost is an essential factor, do not let it be the sole determinant. Look at the coverage, benefits, claim settlement ratio, and customer service to ensure you choose a policy that offers comprehensive protection and peace of mind.

Remember, insurance is about risk mitigation. By carefully comparing and choosing the right Group Personal Accident Insurance policy, you ensure that both your organization and its employees can face unexpected events with confidence, knowing they have a strong financial backup.

Shiba inu coin price prediction
Are you looking for Shiba Inu coin price forecast than you are at right article, this article provides you with an information in regard to shiba inu token price prediction? Let’s get started.

What is Shiba inu token
Shiba inu coin is a meme coin which got his popularity after Dogecoin. Whole business of this token runs on Ethereum blockchain. During hype in 2021, millions of investors invested millions of dollars into this coin. This coin has made many people millionaire as well. Many multinational companies have started Shiba token as a payment method using Shiba swap. Many companies are also accepting hbar and mana coin as their payment method and mostly these are gaming companies.

Shiba Inu Price prediction 2022
In 2022, After our technical analysis Shiba inu price can reach upto $0.00005231. Overall price depends how market is reaction, if there is a bear market than people dare to invest in these types of token because when price falls, price of these type of token falls by 80%.

Shiba Inu Price prediction 2023
In 2023, price of shiba inu will stay sideway, as whole work is going from recession period so heir is less investors in market, if people do not invest in coins how they price will grow? Even use case of this coin is not much beneficial. So, price of this coin will stay around $0.00005141.

Shiba Inu Price prediction 2025
We are assuming price of Shiba inu will make new high in 2025 as crypto price increase in 4-year cycle so in 2025 we are expecting that cycle will be back. SO, price of shiba inu can reach $0.0009 in 2025.

Shiba Inu Price prediction 2030
In 2030, price of this coin will hover around $0.0012 which will be a great return for early investors if they stay invested in SHIB till this time. Many people have settled their mind that they will not sell their token until it reaches $1 levels.

Can SHIB reach $1
Nothing is impossible in this world, to reach $1 levels shib needs to burn their supplier of token. If there are less token in market and demand is high than price of Shib can reach to $1 otherwise with current supply its are to say that It will reach $1 by any chance.

Can Shib reach $10
No way that Shib can reach $10, to reach at this level market capital of shib needs to be 10x- 20x of bitcoin, which I don’t this is possible for this meme coin. People was buying this token as a lotto instead of serious investment.

Can Shib reach $100

No there is no chance that this coin can reach $100 at any cost but future is uncertain if they burn their supply by 95% than it can reach these levels.

Credit card processing is a vital part of any business that wants to accept credit cards as a form of payment. Whether you run a brick-and-mortar store or an online business, you’ll need to find a reliable credit card processing solution that will work for you. In this article, we’ll give you an overview of what credit card processing is and how it works, as well as some tips on finding the right solution for your business.

What is Credit Card Processing?
Credit card processing is the process of accepting credit cards as a form of payment for goods or services. This can be done either through a physical point-of-sale (POS) system or online. Credit card processing solutions typically include a merchant account, credit card reader, and payment gateway.

In order to process credit cards, businesses will need to apply for and be approved for a merchant account. This is a type of bank account that allows businesses to accept credit card payments. Once you have a merchant account, you’ll need to set up a credit card reader. This can be either a physical device that’s attached to your POS system or a virtual terminal that allows you to process payments online. Finally, you’ll need a payment gateway. This is a software that connects your merchant account to your payment processor, which is the company that actually processes the credit card payments.

How Does Credit Card Processing Work?
When a customer makes a purchase with a credit card, the credit card processor will authorize the transaction and send the funds to your merchant account. This usually takes a few days. Once the funds are in your account, you can then transfer them to your business bank account.

There are typically three parties involved in a credit card transaction: the merchant, the customer, and the credit card processor. The merchant is the business that’s selling the goods or services. The customer is the person who’s using their credit card to pay for the purchase. And the credit card processor is the company that’s responsible for processing the credit card payment.

When a customer makes a purchase, the merchant will send the credit card information to the credit card processor. The processor will then either approve or decline the transaction. If the transaction is approved, the processor will send the funds to the merchant’s account. This usually takes a few days. Once the funds are in the merchant’s account, they can then transfer them to their business bank account.

Tips for Choosing a Credit Card Processor
There are a few things you’ll want to keep in mind when you’re looking for a credit card processor. First, you’ll want to make sure that the processor can handle the volume of transactions you expect to process. You’ll also want to make sure that they have a good reputation and are known for providing good customer service. Finally, you’ll want to compare the fees charged by different processors to make sure you’re getting the best deal.

When you’re looking for a credit card processor, it’s important to compare the fees charged by different processors. You’ll want to find a processor that charges a flat fee per transaction, rather than a percentage of the total sale. You’ll also want to make sure that the processor doesn’t charge any hidden credit card processing fees.

It’s also important to make sure that the credit card processor you choose can handle the volume of transactions you expect to process. If you’re a small business, you might not need a processor that can handle a lot of transactions. But if you’re a larger business, you’ll want to make sure that the processor can handle your transaction volume.

Finally, you’ll want to make sure that the credit card processor you choose has a good reputation. You can check out online reviews to see what other businesses have to say about the processor you’re considering.

The Bottom Line
Credit card processing is essential for any business that accepts credit cards. When you’re choosing a credit card processor, there are a few things you’ll want to keep in mind, including fees, transaction volume, and customer service. By keeping these factors in mind, you can be sure to find a credit card processor that’s right for your business.

Receiving low-rates in financial loans helps save money and prevents you from getting more lending options. Therefore, it is important to maintain credit standing in good standing or increase it if it drops below common. Allow me to share the actions you can take to improve your credit ranking.

Do not surpass 50Percent of your credit history limit as it can certainly negatively affect your credit rating. It is best to have several charge cards and and spread out your credit history over these to always keep very low portion in your credit rating expended.

Work out for any lower rates together with your lender. Besides spending significantly less, it would possess a optimistic influence in your credit history.

When signing for a debt relief, be sure that it cannot have got a bad affect in your credit ranking. It’s beneficial to accomplish an investigation before you sign as some methods may influence credit history data badly. Remember, lenders cares concerning their cash instead of your credit score.

Always take into account what you are able only afford and steer clear of investing a lot more than your revenue. it’s super easy to spend but it’ll be hard to pay of the financial obligations particularly if have more than sufficient than you can pay for to cover. Not paying personal loans punctually can reduce down your credit history.

Obtain that loan and pay off your a number of outstanding debts. Paying back lending options can increase your credit rating. However, be sure to have a overall health blend of credit varieties as it is necessary to take care of a good credit standing.

Stay away from past due obligations. Slowed obligations are reflected on credit history studies and will pull down credit rating. Always paying the debt by the due date and then in whole quantity reveals you are a good payor which loan companies like.

Stick to your repayment plan and be worthwhile the funding little by little, should you don’t hold the remedies to cover 100% immediately. Assembling settlement alerts can help you make sure you have commitments. You could possibly set up the warnings in numerous varieties of ways. You can establish your laptop or computer or cellular phone to assist help remind you, or have reminders branded together with your schedule.

Will not apply for a personal bankruptcy whenever you can. This will likely present in your credit score studies even after 10 years. Not only will it reduced your credit rating and often will make any creditors reluctant to approve your personal loans.

Should you be having difficulty managing your money, communicate with a legitimate credit rating repair expert. These counselors will help you make a repayment schedule that works for the finances. Credit guidance can provide the instruments you must record your funds and stay out of personal debt down the road.

Repairing credit is easy. There is certainly absolutely nothing a credit professional can perform that you just can’t especially should you use a credit history fix software program. You may also start a credit restoration enterprise of your own. So that you can have additional revenue to enhance your credit rating while also assisting other people to improve their own.

Italy’s commercial real estate market is worth an estimated $1 trillion. That’s a lot of money, and it’s growing fast. If you’re planning on investing in this market, it’s important to know what factors contribute to its value. Location is a key factor, as is size. Interest rates and economic conditions also play a role, so it’s important to stay up-to-date on current market conditions. If you’re considering investing in Italy’s commercial real estate market, it’s important to do your research first. That way, you’ll know exactly what you’re getting yourself into.

Italy is a country with a rich commercial real estate market. The market is growing steadily, and it’s an ideal location for businesses looking for a diverse market, as well as a culture that’s rich in history and tradition. Deals in the market are often negotiated quickly and intensely, so it’s important to be prepared for the long haul. Invest time and money to enter this lucrative market, and you’ll be on your way to success!

Commercial real estate market in Italy in 2022

Italy’s commercial real estate market is expected to grow at a rate of 5.1% in 2022, according to an estimate by CBRE.

In YTD Q3 2022 9,1 bln € was invested in the Italian real estate commercial market. This growth is mainly due to increasing demand from companies located in the residential areas surrounding Milan and Rome. Investment opportunities are available for buyers looking for high-quality properties with good prospects for rental income. Many advantages come with investing in Italian commercial real estate – stability, historical connections, and a thriving economy are just a few examples. If you’re interested in learning more about the market, or are planning on investing in it shortly, be sure to consult a qualified advisor.

Trends

Italy’s commercial real estate market is heating up, and there are several reasons for this. Several new projects have been completed or are in the works, which is driving demand. Investor sentiment has also improved recently as a result of strong economic growth in Europe overall. As the economy continues to strengthen, more businesses will look to relocate or expand their operations into Italian real estate spaces. Keep track of the latest market trends so you can make the best decisions for your business.

How can I invest in the Italian commercial real estate market?

Italian commercial real estate is a great investment, and there are many different opportunities available for investors. If you’re looking to invest in this market, it’s important to do your research and understand the different aspects of the Italian commercial real estate market. For example, you need to know how the country’s economy is doing and what kind of growth is expected in the future. Additionally, it’s important to know the available different types of real estate, as well as the different investment opportunities that are available. Lastly, it’s essential to have a good understanding of the Italian legal system, as it can play a big role in your investment. If you have all this information, investing in Italian commercial real estate could be a great decision!

Interest Rates, Mortgages, as well as Several Fiscal Privileges in Italy

Italy is a commercial real estate market that offers many benefits for investors. It is considered a safe place to invest in property due to the numerous fiscal privileges it enjoys. For example, interest rates are consistently high, making it an ideal place to purchase a mortgage. Furthermore, its stable government and well-known infrastructure make it a desirable location for businesses of all sizes. Finally, keep an eye out for future deals as Italy’s economy continues to grow – there are many opportunities available! So if you’re thinking of investing in Italy’s commercial real estate market, now is the time to do so!

What are the current trends in Italy’s commercial real estate market?

There’s been a resurgence in demand for commercial real estate in Italy due to the recovering economy and increasing population growth. Despite this, interest rates are low which makes it an ideal investment for those who want to capitalize on current market trends. What this means is that buyers should keep an eye out for new developments and invest early on before prices go up again. Of course, always do your research first to make sure that a property is a right fit for your needs!

Is it worth considering buying or leasing property in Italy, if I’m interested in becoming a landlord or tenant?

Many people think that it’s worth considering buying or leasing property in Italy, as the market has remained strong for a long time. Additionally, given that so many investors are looking to get their hands on these properties, you can be sure that the market will continue to be strong for some time. However, it’s important to do your research first so that you have an idea about what’s available and how much it costs. Additionally, it never hurts to speak to a real estate agent who can provide you with more information and advice.

Italy’s commercial real estate market is one of the most lucrative in the world. With a current market value of over $2.5 trillion, it’s no wonder that so many investors are interested in this market. In this blog, we have outlined the key points you need to know about the Italian market, from overview to trends to investment opportunities.

In the fast-paced digital era, businesses are increasingly leveraging technology to enhance customer engagement and ensure security. One such critical technology is OTP bulk SMS, a secure and efficient way to authenticate users and facilitate transactions. For businesses in India, choosing a reliable OTP bulk SMS provider is essential. Among the many providers, Shree Tripada stands out for its affordability, reliability, and comprehensive service offerings. In this blog, we will explore why OTP bulk SMS is necessary for businesses, and why Shree Tripada is the trusted choice for many.

Why OTP Bulk SMS is Necessary for Businesses
Enhanced Security
OTP bulk text messages is a pivotal tool for enhancing security. Whether it’s for verifying user identities during login, completing online transactions, or ensuring secure access to sensitive information, OTPs act as an additional layer of security. This reduces the risk of unauthorized access and fraud.

Customer Trust and Convenience
Customers prefer businesses that prioritize their security. By implementing OTPs, businesses can assure their customers that their data and transactions are secure. Moreover, OTPs sent via SMS are convenient as they are quick and easy to use, leading to a better customer experience.

Compliance with Regulatory Requirements
Many industries are subject to regulatory requirements that mandate two-factor authentication (2FA) to protect customer data. OTP text SMS helps businesses comply with these regulations, avoiding legal complications and potential fines.

Real-Time Verification
OTP bulk SMS provides real-time verification, which is crucial for services like banking, e-commerce, and healthcare. This instant verification process helps in quick and seamless customer onboarding, transaction approvals, and more.

Why People Trust Shree Tripada for OTP Bulk SMS
Affordability
Shree Tripada is known for providing the cheapest OTP bulk SMS services in India. They offer cost-effective solutions without compromising on quality, making them an ideal choice for businesses of all sizes.

Comprehensive SMS Services
Shree Tripada offers a range of SMS services beyond OTP. They provide transactional bulk SMS for sending alerts, reminders, and notifications, and promotional bulk SMS for marketing campaigns. This versatility makes them a one-stop solution for all SMS needs.

Free DLT Support
In compliance with TRAI regulations, Shree Tripada provides free Distributed Ledger Technology (DLT) support. This helps businesses register their SMS templates and sender IDs effortlessly, ensuring smooth and uninterrupted SMS delivery.

24-Hour Customer Support
Customer support is a critical aspect of any service. Shree Tripada offers round-the-clock customer support, ensuring that any issues are resolved promptly and efficiently. This reliable support system instills confidence and trust among their clients.

Robust Infrastructure
Shree Tripada boasts a robust and scalable infrastructure capable of handling large volumes of SMS traffic. This ensures high deliverability rates and minimal downtime, which is crucial for time-sensitive OTPs.

Conclusion
In conclusion, OTP bulk SMS is a vital tool for businesses to enhance security, build customer trust, and comply with regulatory requirements. When it comes to choosing an OTP mass SMS provider in India, Shree Tripada emerges as a reliable and cost-effective choice. With their comprehensive SMS services, free DLT support, 24-hour customer support, and robust infrastructure, they cater to the diverse needs of businesses, ensuring seamless and secure communication.

For businesses looking to enhance their security measures and improve customer engagement through reliable OTP bulk SMS, Shree Tripada is the go-to provider. Experience their affordable and efficient services to take your business communication to the next level.

As businesses increasingly expand into international markets, effective communication and legal compliance become critical factors for success. Sworn translations, also known as certified translations, are essential in this context. Performed by translators authorized by a governmental or official body, these translations ensure the accuracy and legal validity of business documents. This article explores the role of sworn translations in international business expansion, highlighting their benefits, challenges, and the future landscape.

Importance of Sworn Translations in Business Expansion
Ensuring Compliance with Local Laws
When businesses enter new international markets, they must comply with local laws and regulations. This often involves translating various legal documents, such as contracts, agreements, licenses, and certifications. Sworn translations ensure that these documents are accurately translated and legally recognized, helping businesses avoid legal pitfalls and establish a strong foothold in new markets.

Facilitating Effective Communication
Clear and accurate communication is crucial in international business dealings. Sworn translations help bridge language barriers by providing precise translations of important documents. This ensures that all parties involved have a clear understanding of the terms and conditions, reducing the risk of misunderstandings and fostering smoother business operations.

Building Trust and Credibility
Providing sworn translations of official documents demonstrates a business’s commitment to professionalism and transparency. This builds trust with local partners, clients, and regulatory authorities, enhancing the company’s reputation and credibility in the new market. Trust is a key factor in successful business relationships, and sworn translations play a significant role in establishing it.

Benefits of Sworn Translations
Accuracy and Reliability
Sworn translators are highly qualified professionals who have undergone rigorous training and certification processes. Their expertise ensures that translations are accurate and reliable, which is crucial in business transactions where even minor errors can lead to significant consequences. The legal certification of sworn translations adds an extra layer of reliability.

Legal Validity
Documents translated by sworn translators hold legal validity in the countries where they are required. This is particularly important for legal and regulatory documents, such as patents, trademarks, and compliance certificates. Sworn translations are recognized by government agencies, courts, and other official bodies, ensuring that the translated documents are accepted without issues.

Cost and Time Efficiency
While sworn translations may initially seem more expensive than regular translations, they offer long-term cost and time efficiency. Accurate and legally compliant translations help businesses avoid costly legal disputes, delays in regulatory approvals, and potential fines for non-compliance. The investment in sworn translations thus pays off by ensuring smooth and efficient business operations.

Challenges in Sworn Translations
Limited Availability of Qualified Translators
One of the challenges in obtaining sworn translations is the limited availability of qualified translators. The certification process for sworn translators is stringent, which can lead to a shortage of certified professionals, especially for less commonly spoken languages. This can create delays in obtaining necessary translations.

Varying Certification Standards
Certification standards for sworn translators vary from country to country. This variability can pose challenges for businesses operating in multiple international markets, as they must navigate different certification requirements and procedures. Harmonizing certification standards globally could help mitigate this challenge and streamline the process of obtaining sworn translations.

Cost Considerations
Sworn translations can be more expensive than regular translations due to the additional certification requirements and the expertise of the translators. While the benefits often outweigh the costs, businesses, particularly smaller ones, may find it challenging to allocate sufficient resources for sworn translations, especially when dealing with large volumes of documents.

The Future of Sworn Translations in Business
Technological Integration
Technological advancements, such as machine translation and artificial intelligence, are poised to impact the field of sworn translations. While these technologies can enhance efficiency and accuracy, the human expertise of sworn translators remains indispensable for ensuring legal compliance and nuanced understanding. The integration of technology and human expertise can lead to more efficient and reliable sworn translations in the future.

Global Harmonization of Standards
Efforts to harmonize certification standards for sworn translators at a global level could significantly improve the process of obtaining and using sworn translations in international business. Standardization would ensure consistency in the quality and recognition of sworn translations across different countries, facilitating smoother cross-border transactions.

Increased Demand
As businesses continue to expand globally, the demand for sworn translations is expected to increase. Businesses will increasingly recognize the value of certified translations in ensuring legal compliance and building credibility in international markets. This growing demand will drive further investment in the training and certification of sworn translators, ultimately benefiting the global business ecosystem.

Conclusion
Sworn translations play a crucial role in international business expansion by ensuring legal compliance, facilitating effective communication, and building trust and credibility. Despite challenges such as the limited availability of qualified translators and varying certification standards, the benefits of sworn translations far outweigh the costs. As technological advancements and global harmonization efforts progress, the future of sworn translations in international business looks promising. Businesses that prioritize sworn translations will be better positioned to navigate the complexities of global expansion and achieve long-term success.

Industrial Robotics Category Overview

The global industrial robotics category is anticipated to grow at a CAGR of 10.5% from 2023 to 2030. Growth of the category can be attributed to increased focus on ensuring workplace safety, rising attention for increasing the productivity of assembly lines supporting high volumes, increasing need for collaborative robots across multiple industries, higher adoption of Industry 4.0, and stringent federal guidelines for handling dangerous goods and materials. However, challenges pertaining to integration and complexities associated with the product offered in the category may hinder the global demand. Interoperability is essential in any manufacturing facility and small & medium enterprises (SMEs) are particularly challenged by interoperability concernsbecause of their exceptional needs and staffing shortages when it comes to setting up sophisticated automation systems.

Access the Industrial Robotics Procurement Intelligence Report, 2023 – 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Technologies that drive the global category include collaborative robots, IIoT (industrial internet of things), industrial cyber security, big data & analytics, and open automation architecture. Collaborative robots are significantly less expensive and can operate along with the humans, safely. Manufacturers with stringent return on investment requirements will be more likely to utilize them as these robots gain more capability in demanding industrial environments over time. In addition, industrial robots are increasingly utilizing smart sensors and actuators to gather data that manufacturers were previously unable to obtain. IIoT makes use of these smart devices and real-time analytics to maximize the data generated over the years by dumb machines in industrial settings. Furthermore, the greater robot connectivity to internal data gathering systems, the higher the risk of cyber security. Manufacturers will need to make significant investments in cyber security and address process weaknesses in order to guarantee dependable and secure output.

Industrial Robotics Procurement Intelligence Report Scope

The Industrial Robotics category is expected to have pricing growth outlook of 10% – 15% (annual) from 2023 to 2030, with below pricing models.

Cost-plus pricing
Fixed pricing

Supplier Selection Scope

Cost And Pricing
Past Engagements
Productivity
Geographical Presence

Supplier Selection Criteria

Years In Service
Geographic Service Provision
Certifications
Types Of Robots For Different Applications
Degree Of Freedom
Load Capacity Speed
Customization Options
Technical Support
Others

Industrial Robotics Procurement Intelligence Report Coverage

Grand View Research will cover the following aspects in the report:

Market Intelligence along with emerging technology and regulatory landscape
Market estimates and forecasts from 2023 to 2030
Growth opportunities, trends, and driver analysis
Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments
Porter’s 5 forces
Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis
Engagement and operating models, KPI, and SLA elements
LCC/BCC analysis and negotiation strategies
Peer benchmarking and product analysis
Market report in PDF, Excel, and PPT and online dashboard versions

Order your copy of the Industrial Robotics Procurement Intelligence Report, 2023 – 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Industrial Robotics Procurement Cost and Supplier Intelligence

The category for industrial robotics is fragmented and witnesses large number of global market players, turning the category to be highly competitive. Key players in the industry are continuously upgrading their existing product offerings and investing in research & development to support the introduction of new products, in order to enhance their product portfolio and stay competitive. In addition, they are adopting the strategies such as expansion of operational presence, joint ventures, mergers & acquisitions, etc. to strengthen their position in the industry. For instance, ABB Robotics recently introduced new variants of its “GoFa” series robots, such as GoFa 10 and 12, which possess improved efficiency, increased payload capacity, and additional features. The category possesses low threat of new entrants as manufacturing these robots require high initial investments, supplemented by knowledge of skilled specialists.

Purchase cost (cost of robot, cost of training, and extended warranty costs), power consumption, maintenance cost and downtime cost are the key components that constitutes the total cost of ownership for the products offered in this category. The purchase cost constitutes 50% – 80% of total cost, therefore, it is recommended to the product’s reliability into account because low reliability would result in significant downtime and spare component costs (which are included in maintenance costs) that increase overall operational costs. Without a robot downtime history record, it can be challenging to assess the cost of robot downtime. Purchasing a new industrial robot will cost over USD 24,900 for entry-level options and go up-to over USD 99,900 for higher tech versions. The price depends on number of factors, such as the end-of-arm tool (EOAT), software, teach pendant, controller, etc. The ultimate cost of a robot can be greatly influenced by any of these add-ons.

Asia-Pacific region dominates the global industrial robotics category, holding over 64.9% of global market share. Many firms and sectors in this region utilize industrial robots in their manufacturing operations. Moreover, this region possesses substantial growth potential due to the increasing trend toward artificial intelligence, automation, and the development of other cutting-edge technologies. The Middle East & Africa region is anticipated to witness the fastest growth during the projected timeframe owing to the growing number of industrial initiatives being undertaken by the governments of various nations in this region. For instance, in 2022, the crown prince of Dubai launched a “robotic & automation program” with an objective to boost the adoption of robotics in the nation. Furthermore, assessing if the robotic solution offered by the supplier supports the required application area, thoroughly reviewing the warranty terms offered by the supplier, evaluating if the supplier is capable to offer technical support post sales, negotiating on the best pricing term for the product on offer are some of the best sourcing practices considered in this category.

Key Companies Profiled:

ABB Ltd (ABB Robotics), Comau S.p.A., DENSO Products & Services Americas, Inc., FANUC Corporation, IRS Robotics, Kawasaki Heavy Industries, Ltd., KUKA AG, Mitsubishi Electric Corporation, Nachi-Fujikoshi Corp., OMRON Corporation, Techman Robot Inc., and Yaskawa Electric Corporation

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

Market Intelligence involving – market size and forecast, growth factors, and driving trends
Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions