FinancialBuzz.com News Commentary
NEW YORK, Aug. 5, 2022 /PRNewswire/ -- Domestic robots are becoming more and more popular. In fact, recent years have shown the segment to be in high demand. Typically, a domestic robot is a service robot used for various household activities such as floor cleaning, pool cleaning, lawn mowing, or for various medical and disinfecting purposes. Such robots are usually autonomous in nature and are controlled by an integrated control system. Of course, innovation plays a major role in making these robots convenient and easy to use. The continuous development of technology with respect to interaction, cognition, and manipulation has made the use of domestic robots attractive in the overall household segment. And, according to data provided by Mordor Intelligence, the household robots market was valued at USD 6.81 Billion in 2021. Furthermore, it is expected to reach USD 21.94 Billion by 2027, while registering a CAGR of 20.50% during the forecast period of 2022-2027. E-Home Household Service Holdings Limited (NASDAQ: EJH), iRobot Corp. (NASDAQ: IRBT), NVIDIA Corporation (NASDAQ: NVDA), Teradyne, Inc. (NASDAQ: TER), UiPath Inc. (NYSE: PATH)
Moreover, the increased implementation of AI and automation in household equipment has led to even more growth in the domestic robot market. For example, with the increasing development in machine vision cameras, companies are using these 2D and 3D machine vision cameras with AI technologies to effectively map edges of the floor, such as a staircase, and to recognize obstacles, such as dustbins, and cables, doorsills, and rugs. For instance, Xiaomi CyberDog is a quadruped robot capable of moving as fast as 3.2 meters per second. It is capable of object motion tracking, creating real-time maps, avoiding obstacles as it moves, and is powered by Nvidia's Jetson Xavier AI platform.
E-Home Household Service Holdings Limited (NASDAQ: EJH) announced earlier this week breaking news that, "the Company has begun testing of robot cleaners in providing household services.
Fast pace of life is quite common across urban cities. The way people perceive their household chores has been changed by the pandemic as well as we tend to care about hygienic standard more than we did before. With regard to the growing interest from our consumers who are pushing technology to innovate, E-Home redefines AI technology application in household cleaning, bringing this futuristic lifestyle closer to everyone.
The Company is testing its first robot cleaner model that is designed for expert navigation and strong cleaning effect. The cleaner will help E-Home's household service crew navigate to corners and edges with ease, avoid large pieces of furniture while cleaning thoroughly from dust to large debris hiding in tile gaps, under furniture and on carpets. In addition, the robot cleaner is also designed to perform disinfection works as precautions should always be taken to prevent any potential spread of pandemic virus.
Mr. Wenshan Xie, Chairman and CEO of E-Home, commented: 'At E-Home, we've witnessed the success of our humanoid robotic customer service and staff training initiatives. How the core technology of robotic products applies to usage scenarios with high frequency, high demand and difficult pain points is the background story which has inspired us to keep our journey in exploring household robot cleaners. We aim to introduce smart home appliances into every household with reasonable price and better user experience.'"
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iRobot Corp. (NASDAQ: IRBT) introduced on May 31st, iRobot OS, an evolution of the company's Genius Home Intelligence platform. iRobot OS delivers a new level of customer experience for a cleaner, healthier and smarter home. Leveraging iRobot's growing base of over 20 million connected devices sold, a unique understanding of the home environment and an advanced computer vision platform, iRobot OS is already enabling over 2.7 million cleaning missions each and every day around the world. "As iRobot expands its ecosystem of connected robots and smart home devices, we are placing a strategic emphasis on superior software intelligence delivered on high-performance, beautifully designed hardware," said Colin Angle, chairman and CEO of iRobot. "iRobot OS brings it all to life, enabling products that understand the home environment, respect customer preferences and intuitively connect with the smart home ecosystem to get the job done. iRobot OS lets our robots get smarter and clean even more effectively over time, delivering valuable new features and functionality that benefits all customers, including pet owners, busy families and those looking to get the most out of their voice assistants. This is just the beginning, and we look forward to continuously building upon iRobot OS, providing customers with even more thoughtful ways to clean in the months and years ahead."
NVIDIA Corporation (NASDAQ: NVDA) announced in recent years announced the availability of the NVIDIA Jetson Xavier NX developer kit with cloud-native support - and the extension of this support to the entire NVIDIA Jetson edge computing lineup for autonomous machines. The Jetson Xavier NX module is the ideal platform to accelerate AI applications, delivering greater than 10x higher performance compared to its widely adopted predecessor, Jetson TX2. Using cloud-native technologies, developers can take advantage of the module's high AI and compute performance in its credit card-sized form factor to drive innovation and deploy AI at scale. "NVIDIA has created an incredible amount of optimized AI software across multiple industries, and now, with cloud-native support, customers can leverage that software innovation through our high-performance, low-power Jetson family," said Deepu Talla, vice president and general manager of edge computing at NVIDIA. "The Jetson Xavier NX is the result of years of experience and leadership in edge computing, enabling customers to deploy real-world AI applications."
Teradyne, Inc. (NASDAQ: TER) designs, develops, manufactures, sells, and supports automatic test equipment worldwide. The company operates through Semiconductor Test, System Test, Industrial Automation, and Wireless Test segments. The Industrial Automation segment provides collaborative robotic arms, autonomous mobile robots, and advanced robotic control software for manufacturing, logistics, and light industrial customers. Back in April the company announced the shipment of the 7,000th unit of its industry-leading J750 semiconductor test platform to Nations Technologies, a leading Chinese microcontroller unit (MCU) and security integrated circuit (IC) chip maker. Manufactured in China and Japan, and deployed at all the world's leading semiconductor chip manufacturers, the Teradyne J750 tester includes wafer sort and final test solutions for microcontroller units, wireless devices, image sensors, and more. J750 testers lead the industry in quality, time to market and cost effectiveness, delivering higher throughput and increased site count, reducing single site test time and optimizing parallel test efficiency.
UiPath Inc. (NYSE: PATH) reported last month it has been positioned by Gartner, Inc. as a Leader in the 2022 Gartner Magic Quadrant for Robotic Process Automation1 research report. UiPath was named a Leader for the fourth year in a row, and in this report UiPath was positioned highest for Ability to Execute and furthest for Completeness of Vision. "We believe UiPath will be a leader in automation, artificial intelligence, and machine learning, which all companies will embrace over time," said UiPath Co-CEO Robert Enslin. "We believe this recognition affirms our position at the leading edge of the market as we help customers navigate the challenges facing companies around the world today. We are dedicated to innovating our automation platform, driving our market segmentation, and delivering world-class customer experiences."
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