New Delhi, March 1, 2023: Two giant consumer brands, LG and Times Prime today announce their coming together for a strategic partnership for their “Assured Benefits Carnival,” where the electronic giant will gift Times Prime Annual Membership to its customers on purchase of any “Side by Side Refrigerator”.
Upon product purchase, customers will receive a voucher code for the Times Prime annual membership with access to a wide range of benefits from premium & popular brands such as Disney+ Hotstar, SonyLIV, Cricbuzz Plus, Gaana Plus, EazyDiner, ET Prime, TOI+,and many more. This one-stop shop also provides exclusive offers and discounts over Rs.60,000 on your favorite brands such as Myntra, Uber, Chaayos, Pizza Hut, Starbucks, etc.
Speaking on the latest collaboration of the brand, Harshita Singh, Business Head of Times Prime said, “The aim of this strategic partnership is to enrich the offering bouquet of an appliance leader like LG with Times Prime’s holistic ecosystem of all lifestyle brands under one app. This wholesome nature of our app integrated with an umbrella of offerings by LG is bound to benefit both brands for sales and engagement.”.”
Commenting on the same, Deepak Bansal- VP-Home Appliances & Air Conditioners said, “Post Covid-19 we are witnessing impressive growth in premium product categories as there is increase in discretionary spend and consumers are looking to upgrade their Home Appliances Purchases, Apart from offering best in class technology we also wanted to offer good prepositions to consumers. To further present our consumers with great offers, LG unveiled unique deals for people who wish to upgrade to high-capacity refrigerators. We believe that these offers will further enhance the user’s experience of our premium lineup ofside by side refrigerators.”
As one of the most preferred lifestyle super-apps, Times Prime offers an extensive range of benefits on a single platform, from shopping to entertainment and lifestyle brands like Starbucks, Myntra, Uber, Disney+ Hotstar, SonyLIV, Google One, and many more. Times Prime positions itself as a unique Super App that curates subscriptions and benefits besides elevating lifestyle with superior & exclusive access to global brands and experiences. The campaign is designed to create a sense of urgency and dramatize the importance of availing the benefits of Times Prime subscription.
Hyderabad/New Delhi, Home Credit India (HCIN), a local arm of the leading global consumer finance provider, today launched the third campaign under its ‘Zindagi Hit!’ brand thought. In the run-up to the Holi festival, the new digital AV showcases Home Credit as an enabler towards fulfilling consumer aspirations and helping them lead a life of financial independence. The value proposition of Home Credit India’s campaign centres on traits such as optimism, progress, trustworthiness, transparency, and that of an enabler, making it a brand of choice when it comes to consumer loans.
This campaign is an effort to have sustained brand connect with Home Credit consumers and potential loans seekers. Home Credit India had launched its new brand thought “Zindagi Hit!”, during Diwali in October last year. It was followed up with the second leg of the brand campaign – ‘Khushiyon Mein Der Kaisi’ – launched in December.
The narrative of the new digital campaign revolves around a mother-son relationship where a mother is disheartened as neither her son is able to visit her on Holi nor is she able to video call him as her phone is broken. The worried son, while strolling in the market, spots a local mobile shop promoting Home Credit finance. The mobile retailer suggests him to get a new phone financed in lieu of a small amount. Herein lies the value of Home Credit, who financially empowers borrowers through easy and hassle-free loans that bring to reality every wish & aspiration. The video ends with the son gifting his mother a new smartphone and affirming to her that it has been bought ethically (“izzat se liya hai”). With Home Credit, he has found a new hope and confidence in being able to give a better life to his family.
Speaking on the new campaign under ‘Zindagi Hit!’ brand thought, Ashish Tiwari, Chief Marketing Officer, Home Credit India, said, “The narrative of this new brand campaign hinges on accessibility, convenience, and trust. The brand thought ‘Zindagi Hit!’ aims to foster financial freedom to millions of people and help them celebrate all moments of life with respect. Home Credit believes loan is an empowerment for right use cases and we are focused on addressing the unmet credit needs of our customers by combining the convenience of varied financing options such as EMI Card to transparency and accessibility.”
The brand campaign is live across all Home Credit’s social media channels such as Facebook, Instagram, Twitter, YouTube, LinkedIn.
The brand is trusted by 1.5Cr+ customers and 50,000+ retail partner network pan-India. As a responsible consumer lender, Home Credit India has also engaged with more than 3 million individuals through its financial literacy campaign – Paise Ki Paathshala – to foster a responsible borrowing culture in society at large.
1st, March 2023, Mumbai: EaseMyAI raised Rs 1.8 Cr in a Seed round led by Inflection Point Ventures (IPV). Started with an aim to develop innovative products with AI adoption, EaseMyAI emphasizes on creating simple, user-friendly products with drag & drop options to empower businesses to customize their solutions. This approach can help make AI more accessible to businesses of all sizes and sectors.
EaseMyAI has developed a product specializing in the automation of operations and processes, which is scalable and easy to deploy. The Company has filed a patent for an AI-based operating system. This will help businesses streamline their operations and improve their efficiency through automation, reducing costs, increasing productivity, and enhancing the quality of their services.
Madhukar Bhardwaj, VP, BD & Investments Inflection Point Ventures, says, “Majority of the companies, be it small or large, use CCTV or physical staff to do manual monitoring of safety, compliance and operations which is prone to error, cost ineffective and not scalable. EaseMyAI is tapping into this segment and is at the forefront of tech adoption using its computer vision and AI solutions across sectors thus accelerating rapid AI adoption. Their solutions and the platform is highly scalable and empowers companies with much smaller operations or even large ones with legacy systems to be next-gen tech ready thereby helping them grow faster.”
EaseMyAI provides this Robotic Process Automation (RPA) using computer vision and AI to automate repetitive tasks and reduce dependency on manpower. In Robotic process automation, AI has the decision-making power, making the platform effectively manage operations and compliance.
Gagan Randhawa, CEO, EaseMyAI, says, “Our vision is to create a family of tools so that enterprise customers can quickly & easily go for process automation. We are working on a smart centralized platform that helps customers to automate and monitor all processes online. If you want to get something done, first do it on your own and create an example for the team. IPV is more like a partner in growth where they not only helped us with funding but helped us in planning market strategy and connecting to potential business owners and made our journey relatively easier.”
Al in the computer vision market is estimated to grow from $15.9 billion to $51.3 billion by 2026, at a CAGR of 26.3%. The growing need for quality inspection and automation, increasing demand for computer vision systems in non-traditional and emerging applications, and rising need for ASICs are the key factors driving the growth of the market.
EaseMyAI has catered to over 30 clients with some marquee names like Hitachi, Ericsson, Mundra Port, ICICI Bank, Standard Chartered Bank, and Treasure Inc. (a Japanese entity). Raising funds for growth, they are planning to further expand catering clients in Sri Lanka, UAE, Japan, and Singapore directly and the rest of the world through partners.
Mumbai, 1st March 2023: With the significant uptick in demand for skilled professionals in the country, Scaler, one of India’s fastest-growing tech upskilling startups, recently launched ‘Scaler Topics’, a gamified free learn-to-code platform that can provide quality technical content for anyone interested in software-related subjects. Since its pilot launch five months ago, Scaler Topics currently witnesses a monthly average of 20 lakh users interacting with video courses from Scaler’s top instructors from top tech companies like Google, Facebook, etc., and reading articles written by tech veterans. The platform continues to show over 50% month-over-month growth.
The ‘Scaler Topics platform provides streamlined technical content across all fields related to tech, data science, and machine learning for individuals passionate about learning and building a career in many in-demand domains with assisted videos from mentors, even with no prior knowledge in their chosen field. In addition to the video courses, the platform provides a wide range of free material to software enthusiasts through interactive challenges, events, contests, and detailed article threads by industry experts. With gamification inherently built into the user experience, Scaler intends to provide an interactive platform of convenience for learners. Industry veterans with an in-depth understanding of the skills required for budding software professionals conduct regular masterclass sessions on various topics, including C++, Java, SQL, Data Science, Machine Learning, and Python. The platform garners over 90 million monthly search impressions, seeing over 100,000 daily users. It hosts over 4500 articles created by industry experts, 25+ video courses from top Scaler Instructors who have been industry veterans, and 3000+ interactive challenges to learn and compete. Over 150,000 users have signed up for free courses on the Scaler Topics platform.
Abhimanyu Saxena, Co-founder, InterviewBit & Scaler, said, There is a daunting challenge to democratise tech education in the country. Over 2 million jobs in AI, cybersecurity, and blockchains are expected to remain unfilled in 2023. Due to the inaccessibility of quality content, particularly coding skills in demand in the tech industry, it is essential to provide a comprehensive learning platform that is understandable even for a Class 10 student from any part of the country. It was our thought process behind developing Scaler Topics. Offering well-researched live sessions, ideated and conducted by industry experts having worked at top tech companies for free, is the first step in this direction. With this program, we want to broaden our horizon by making quality technical content available to any tech aspirants in any part of the country to receive the required support during their learning journey. Scaler Topics allows us to demonstrate key pillars of Scaler’s teaching philosophy: Structured curriculum, from people who have been there done that, high quality, comprehensiveness.”
Scaler had also recently launched a mobile app on Google Play Store called ‘Learn Programming-Scaler’, a one-stop solution for a tech professional’s learning and upskilling needs, allowing learners to experience Scaler’s quality teaching, watch courses, read articles from the comfort of their mobile device as well. Scaler Topics content and other genres, including access to various upcoming regional events, provide an immersive learning experience by allowing users to learn on the go in their preferred medium. The company has also introduced Scaler coins, which can be earned by reading articles, solving coding challenges, and multiple-choice questions on topics that interest them. These coins can be redeemed for Scaler merchandise like t-shirts, mugs, diaries, top tech books, and scholarships for its Scaler Academy and Scaler Data Science & Machine Learning (DSML) courses.
Scaler has witnessed significant growth and progress in the last year, with the startup continuing to maintain a consistent month-over-month growth of 15 percent. The tech player achieved a $710 million valuation with a $55 million Series B funding, which helped Scaler focus on multiple key business areas. During the year, the startup forayed into the US market, launched first-of-its-kind co-living campuses, strengthened its leadership team, and launched a master’s program.
Cairo, Egypt. 1st March 2023: Since the start of the pandemic, there have been immense changes in how employees interact with IT tools and teams. Across the board, enterprises are seeing more collaboration between non-IT employees and IT personnel, and this collaboration can be, at least in part, attributed to IT decentralization and democratization. In the increasingly digital-first, hybrid work environment, we have five predictions that are likely to come to fruition.
1. Enterprise-IT will evolve into enterprise-wide IT
We will continue to see the decentralization of IT personnel. Not only will most enterprises have a centralized IT group to handle requirements like systems deployment, cybersecurity, compliance, and threat detection, but these enterprises will also have IT personnel throughout the organizational chart, addressing specialized business-driven needs as they arise. As technological expertise continues to permeate throughout enterprises, non-IT employees and IT-adjacent service delivery teams will use low/no-code platforms to build and deploy simple applications. According to a recent ManageEngine study – IT at Work: 2022 & Beyond, 42% of global IT decision-makers believe that each department will have its own IT team in the next five years.
2. The tool vs. platform debate will be laid to rest
Enterprises of varying sizes and maturity have made different choices, especially in regard to the management of their technology infrastructure. Some opted to go with a specialized tool for every problem; others invested in a platform that could expand to solve problems as they arose. The platform option is far more efficient. Having a tool for every problem doesn’t help enterprises keep pace with changing demands. More and more enterprises will opt for the holistic, scalable platform approach to managing their technology infrastructure.
3. We will see unified service delivery designed for remote-first employees
Organizations will consolidate enterprise services on a unified service management platform, facilitating remote-first employees with a productive workspace—wherever these employees choose to work. In addition to IT knowledge resources commonly accessed from a single enterprise self-service portal, employees will increasingly be able to access and request services; for example, they’ll be able to onboard remote employees, confirm corporate bookings, and submit travel expenses.
4. AI models will continue to evolve
In 2023, we will see AI models with better precision, being built with a limited amount of training data. Techniques like few-shot learning and transfer learning will see increased adoption, and the gap between natural language processing (NLP) and computer vision (CV) will continue to blur. As an example, we’re already seeing applications that allow us to search through a recording for a particular topic; then, by conversing with a chatbot, we’re brought to the relevant timestamps.
AI regulation is also on the horizon. Like we saw with data privacy legislation (GDPR), this regulation will come from the European Union. Set to become law in 2023, the E.U.’s AI Act could start being enforced as early as 2024.
5. Finding and reskilling technology talent will continue to be a challenge
The rapid evolution of technology and the changing business landscape has put pressure on businesses to find and retain talent; the question of whether enterprises should find fresh talent or reskill existing employees is one that enterprises will have to make.
In the wake of the Great Resignation, some companies assumed it would be easy to find new talent, but that really hasn’t been the case, especially in regard to software-engineering workers. Factors like diversity and inclusion will continue to influence hiring decisions, and at ManageEngine, we personally believe that continuing to train, educate, and foster the careers of existing employees is the best course of action. That said, enterprises will have to choose for themselves how best to proceed.
From(L-R)Gautam Sarkar, Business Head, TV9 Bangla_Shri. Sujit Bose,Minister-In-Charge,Fire & Emergency Gov of WB_ Amritanshu Bhattacharya, Managing Editor, TV9 Bangla
KOLKATA, March 1: The key to the success of businesses in Bengal lies in cultivating a never-say-die attitude and depending on the entrepreneur’s grit and determination to overcome obstacles even as the administration endeavours to hand-hold investors to the best of its ability, entrepreneurs, young and old, established and fledgling, agreed in a panel discussion titled BRANDS OF BENGAL, organised by TV9 Bangla on February 25, 2023.
The exercise was a part of TV9 Bangla’s endeavour to facilitate and stimulate brainstorming on issues that confront the state. In the past, TV9 Bangla has held a unique telethon on Bangaliana, or what constitutes Bengaliness and a trade fair to create a platform to bring together marketers and consumers across diverse product categories.
As many as 20 entrepreneurs from the state were felicitated for their business journeys and contribution to society.
Sujit Bose, minister in charge of department of fire and emergency services, who attended the event, congratulated TV9 Bangla for arranging discussions on topics that could inspire a few minds to embark on the path of entrepreneurship eschewing traditional job-seeking tendency. On this occasion, he also unveiled the Coffee Table Book on “Brands of Bengal” by TV9 Bangla.
Divided into four panels, the participants enthusiastically and animatedly discussed topics that were inextricably linked with the investment climate of the state. These were “Banglai byabshar sahajpath (Ease of Doing Business in Bengal)”, “Banglai Start-up: somosshya o sombhabona (Start-ups in Bengal: Problems and Prospects)”, “Banglar Shilpa: Kaal, Aaj, Kaal (Business of Bengal: Yesterday, Today & Tomorrow)” and “Banglar shilpe medhar akal? (Bengal’s Industry Heading For Talent Drought?)”.
“On the parameter of ease of doing business, I feel Bengal has everything, but it lacks in the essential skill of projecting itself. Promoting the product and the brand in the market is the need of the hour. Bengal is rich in intellect, has a pool of talent in academics, culture and sports. Perhaps we are too harsh in criticising ourselves,” said Shankha Ghosh, Group CEO, Techno India Group.
“A good number of start-ups have started operating in Bengal in the past few years. More than 3,000 start-ups were registered to take the state to the fifth position in India. In the year 2020, during Covid, more than 30,000 companies were registered. Had there been lack of confidence among the local youths, so many initiatives wouldn’t have been launched,” argued Abhinav Gupta, Founder & MD, KGA Home Appliances.
Arun Kumar Dasgupta, principal, Bharatiya Vidya Bhawan mentioned how they regularly inspire their students to come up with business ideas and how several of them have already been accepted for seed funding.
Manoj Khosla, Founder & MD, Khosla Electronics said, “The government should come forward for facilitating entrepreneurs so that manufacturing can flourish. The ecosystem, thus, will generate business and increasing ease of business will help the investor take it forward. Bengal was initially an agrarian state, but now with IT, software, and designers coming on board, the mentality is changing. The society has to build skilled workers to help industry.”
“Small and ancillary industries should support each other to help scale up. The workers would also benefit from such an ecosystem. Bengal has cheap labour and raw material is easily available. Ease of business is growing in the state providing a fillip to expansion of business,” said Pradip Kumar Shaw, MD, Lancet Pharmaceuticals.
Dr Sujoy Ranjan Deb, director, Kolkata Heart Lung Centre & Research Institute remarked, “There is a demand for trained doctors, nurses and paramedical staff. Bengal was number one in the past, but recently a lot of people have migrated to the Southern states for treatment and medical facilities. Trained workforce can bring back the health business in our state. The post-Covid era provides us opportunity to set up heart, lungs, kidney centres and wellness clinics for which there is demand in Bengal.”
Echoing Dr Deb, the honorary secretary of Saroj Gupta, Cancer Centre and Research Institute Anjan Gupta agreed that meeting the demand of skilled employees and super-specialty medical practitioners has become a need of the hour to prevent movement of people to other states for treatment.
“To push the young generation towards business as a career goal, the family has to play a vital role,” asserted Rana Deb, founder and chairman, Modern Institute of Engineering & Technology. “The government should assist with cooperation, promotion and encouragement so that more startups can blossom in the state,” he added.
Himadri Shekhar Patra, MD, Baffeto, who launched a food delivery app a year and half ago in the state vouched that with a little grit and clarity of vision, one can even rise from a humble background to successfully nurture a business. He gave his own example to highlight that he would shortly employ about 2,000 youths to spread his business in a few districts of Bengal.
“TV9 Bangla Brands of Bengal rides the authenticity, accountability and trust that TV9 Bangla enjoys. We are honouring those who have achieved and are striving for excellence in their respective fields,” said Amritanshu Bhattacharya, managing editor, TV9 Bangla.
The institutions/entrepreneurs whose contribution to society were recognised includes the awardees and categories in the following:
Modern Institute of Engineering Technology (MIET) – Brand Excellence in Education (Engineering)
Lancet Pharmaceuticals- Brand Excellence in Pharmaceuticals
Baffeto – Brand Excellence in Food Delivery App
Dr Prakash Mallick – Brand Excellence in Homeopathy
SRMB – Brand Excellence in Infrastructure
JBG Hexa – Brand Excellence in Real Estate Ancillary
Khosla Electronics – Brand Excellence in Multi-Brand Electronics Retail Chain
KGA Home Appliances – Brand Excellence in Home Appliances and Televisions
Panjabi Museum and Sareer Hut – Brand Excellence in Ethnic Wear
Bharatiya Vidya Bhavan – Brand Excellence in Education
JIS Group – Brand Excellence in Education Conglomerate
Adi Mohini Mohan Kanjilal – Brand Excellence in Sarees and Contemporary Fashion
Sister Nivedita University (SNU) – Brand Excellence in Private University
Indian Institute of Hotel Management (IIHM) – Brand Excellence in Hospitality Management
Dr Sohini Sastri – Brand Excellence in Life Coaching and Motivation
Saburi Plywoods – Brand Excellence in Product Innovation
Kolkata Heart Lung Centre & Research Institute (KHLC) – Brand Excellence in Hospital (Cardiac and Pulmonology)
Saroj Gupta Cancer Centre and Research Institute – Brand Excellence in Cancer Treatment in Eastern India
Sasta Arogya – Brand Excellence in Pharmacy
Rumpa Jewellery – Brand Excellence in Gold Plated Jewellery
Watch TV9 Bangla Brands of Bengal on 5th March from 4 pm onwards.
Bangalore, March 01, 2023: Under the aegis of the National Monetization Pipeline of Govt. of India, NTPC Limited (“NTPC”) completed the closing of the transactions in relation to consolidating its Renewable Energy (“RE”) portfolio under one umbrella entity i.e., NTPC Green Energy Limited (“NGEL”), on February 28, 2023.
This is a transfer of RE assets/ entities owned by NTPC to NGEL, its wholly-owned subsidiary, incorporated on April 07, 2022.
The transactions comprised of transfer of 15 RE Assets, through a Business Transfer Agreement (BTA), and the transfer of 100% equity shareholding of NTPC Renewable Energy Limited (“NREL”), a wholly-owned subsidiary of NTPC, through a Share Purchase Agreement (SPA), executed on July 08, 2022.
This scheme has been implemented as a part of the corporate business plan of the group to provide an impetus to its focus on achieving the 60 GW RE capacity target by FY32.
Located at Budigere Cross, one of the fastest-growing suburbs in Bengaluru, the property promises a blissful experience
Bengaluru: Sattva Group, one of India’s leading Property Development, Management, and Consulting organizations, today announced the launch of its much-awaited residential project, Sattva Bliss. Strategically located close to Budigere Cross, just off Old Madras Road in the bustling city of Bengaluru, the beautiful homes offer dwellers a blissful experience. As Bengaluru is poised for further growth, which this part of the city has already started experiencing, Budigere Cross has all the prerequisites to become a much sought after residential and commercial destination in the near future.
The project consisting of 1, 2, and 3 BHK apartments will be set on 3.3 acres of land, built on three magnificent towers, offering breathtaking views of the greenery and much more. Additionally, the community has beautiful landscaping, top-notch amenities, and great connectivity. It aims to become the setting for your ideal life, with a calm atmosphere. Sattva Bliss provides everything a family needs to maintain their upscale lifestyle, while remaining in harmony with nature, in order to meet the rise in demand among nature lovers and desire for a low-density lifestyle.
Commenting on the announcement, Ms. Karishmah Siingh, VP – Sales, CRM & Marketing, Sattva Group said, “We want Sattva Bliss to be the ideal option for aspirational property buyers and investors, while also satisfying the demand of active homeseekers. We firmly believe that the location is one of the prominent USPs of the project for it has the potential to become a hub for all-round development, resulting in a high ROI, should one invest in residential assets and earn through rentals.”
These well-packaged units come with unmatched quality and a sustainable outlook, to ensure that the project meets customers’ evolving needs and our collective responsibility towards nature. With meticulous planning and well-thought-out infrastructure, Sattva Bliss offers unique green features including jogging tracks, outdoor gym and a kid’s play area. Making it all the more lucrative are multiple rejuvenation amenities such as Half Basketball Court, Cricket Practice Pitch, Skating Rink, Multipurpose Court, Swimming Pool etc. These amenities aim to provide an indulgent and carefree lifestyle for the residents and at the same time provide families with the ideal mix of living in nature with urban amenities.
March 1, 2023: Providing a differentiated immersive experience to premium motorcycle customers across the country, Honda Motorcycle & Scooter India (HMSI) today inaugurated an all-new premium big bike sales & service outlet – Honda BigWing at Patna (Bihar).
Located at Plot No. 1609, Ground Floor, Indira Heights Building, New Alkapuri, Bypass Road, Chitkohra, Patna, Bihar, the facility aims to elevate the #GoRidin spirit amongst new as well as prospective customers.
Speaking on the inauguration of BigWing in Patna, Mr. Atsushi Ogata, Managing Director, President & CEO, of Honda Motorcycle & Scooter India said “Our focus is on the expansion of Honda BigWing (Honda’s exclusive premium motorcycle network) to deliver a truly differentiated immersive experience closer to customer. Today, we are delighted to inaugurate BigWing in Patna. Through this new premium outlet, we aim to take Honda’s fun motorcycles closer to customers in Patna and bring to experience our mid-size range of premium motorcycles.”
Expanding its last-mile presence to cater to aspirational customers, the differentiated Silver Wing can be experienced at more than 100 operational touchpoints. In the state of Bihar, the company currently operates over 3 outlets with exciting premium offerings from HMSI.
Diverse Product Portfolio
Honda’s premium motorcycle retail format is led by the BigWing Topline in top metros and BigWing in other demand centers. While the marquee Honda BigWing Topline houses Honda’s complete premium motorcycle range starting from the newly launched CB300F, CB300R, H’ness-CB350 and its Anniversary Edition, CB350RS, CB500X, CBR650R, CB650R, CBR1000RR-R Fireblade, CBR1000RR-R Fireblade SP, adventure tourer Africa Twin Adventure Sports, and flagship model Gold Wing Tour, the BigWing delights mid-size motorcycle fans of Honda.
Premium Experience
Adorned with the black & white monochromatic theme, BigWing showcases the displayed vehicles in their full glory. Resolving customers’ product-related queries or accessories are the well-trained knowledgeable professionals at BigWing. Easing the journey from search to purchase, the dedicated website (www.HondaBigWing.in) is available for all detailed information. The online booking option on the website ensures a quick, seamless, and transparent booking experience for customers at their fingertips. Capturing real-time customer feedback, Honda BigWing is also actively available across all social media platforms.
Ensuring the safety and convenience of customers, Honda BigWing brings Immersive Digital Experience. The virtual platform allows customers to experience the complete fun motorcycle line-up, riding gear, and accessories in granular detail while sitting in the comforts of their homes.
Professor Zvi Shiller from Ariel University and Chairman of the Israeli Robotics Association highlights the potential of robotics as an economic growth engine. Robotics, which involves the development of computerized mechanical systems, has applications in many areas of life, including household, medicine, agriculture, logistics, transportation, and education. However, the high entry level for developing robotic systems has slowed its growth in the last four decades. The industry faces typical market failures such as multidisciplinary knowledge requirements, long and expensive development processes, difficulty introducing products to the market, and the availability of an alternative cheaper solution – human labor.
Despite the lack of support from the state, Israel has modestly grown its robotics industry with a worldwide reputation. The number of companies that produce robots as a final product is relatively small, but research activity in academia has focused on several fields such as medical robotics, autonomous vehicles, human-machine interface, robot teams, agriculture, and nursing.
The COVID-19 pandemic and the Russia-Ukraine war have elevated the importance of the field of robotics to levels unseen in the last 40 years. The sudden need for independence and security has made robotic solutions a necessity. Smart physical systems-based robotic solutions are in demand in the fields of health, nursing, agriculture, industry, logistics, and transportation. The combination of exploding needs, impressive technological progress in the field of robotics, and the increasing application of artificial intelligence brings the field of robotics to a point where it can reach new heights.
Optimistic forecasts for the field of robotics indicate a market size of over $200 billion in 2030 with a growth rate of 12%-14% per year. Prof. Zvi Shiller believes that the market size will be double that since these forecasts are based on existing growth rates and do not take into account new areas of application that will increase the use of robotic systems.
Robotics Technology Market Size 2022 To 2030
Investment in the field of robotics is expected to provide new avenues of growth for the Israeli high-tech industry, which until now has focused on software and electronics development. The combination of robotics and the Israeli high-tech industry will utilize existing human capital and infrastructure developed over the past thirty years.
The Israeli Robotics Association proposes the creation of a National Robotics Institute to accelerate the entry of Israeli industry into the field of robotics. The institute would serve as a platform for multidisciplinary knowledge sharing, research and development, and incubation of startups. The Robotics Association believes that with quick action and the exploitation of Israeli industry’s prominent advantages in entering new fields, Israel can position itself among the leaders of the robotics 3.0 revolution that focuses on smart robots that combine hardware and artificial intelligence.
