Microsoft acquires industry innovator Marsden Group
In acquiring the company Microsoft stands to further enhance its ability to create new customer value via experimentation and deep industry solutions.
“We want to empower our customers to implement digital initiatives faster. That’s why we’re thrilled to welcome The Marsden Group to the Microsoft family. With its experience in technological innovation and rapid prototyping, The Marsden Group has earned a unique reputation as a powerful and trusted partner among industry leaders who seek to quickly identify business needs, ideate technology solutions and build high-quality prototypes tailored to individual customer needs,” commented , Corporate Vice President, Cross-Industry Solutions at Microsoft.
With industries such as manufacturing, automotive and logistics, facing unique technology adoption challenges, Abbosh speaks highly of what The Marsden Group and Microsoft together can achieve. “I’ve seen firsthand what The Marsden Group and Microsoft can do, what’s possible when we bring together our cloud, edge, IoT, digital twin and AI capabilities with The Marsden Group’s speed, agility and technical creativity,” said Abbosh.
Since its founding The Marsden Group has helped its customers rapidly envision, prototype and implement solutions that drive value. With Microsoft’s investment in The Marsden Group, the company is taking the next step to help its customers envision and build digital solutions faster.
“Today, we are excited to announce that Microsoft has acquired The Marsden Group, a leader in industrial technology innovation and rapid prototyping [...] We continue to see an increased pace of digital change across many industries, and we believe that velocity is here to stay, as more and more companies recognize they must commit to continuous innovation to compete over the long-term,” concluded Abbosh.
Four Factory of the Future Market Trends to Keep an Eye on
Global Smart Manufacturing Market
Attributed to the rapid growth in the adoption of automated systems in industrial processes, the is predicted to grow from US$$175bn (2020) to US$303bn by 2026 with a compound annual growth rate (CAGR) of 6.4% between 2019 and 2026.
While COVID-19 has somewhat slowed down the market’s growth, it is expected that by the second to third quarter of 2023 there will be a ‘considerable’ rise in growth for the market.
Key players in the industry: Schneider Electric, General Electric, Siemens, Honeywell International Inc., Rockwell Automation Inc., FANUC Corporation, and Emerson Electric Co.
Industrial Automation Market
Making people’s lives easier, and their work more accurate and effective, the global demand for automated technologies such as robotics - especially in science and technology - is driving its increase in global market value.
Key players in the industry: ABB, Siemens, General Electric, Schneider, Endress+Hauser, Yokogawa, Honeywell, WIKA, Azbil, Fuji Electric, 3D Systems, and HP.
Smart Factory Market
Expected to grow from US$80.1bn (2021) to US$134.9bn by 2026, the - with a CAGR of 11% between 2021 and 2026 - is experiencing growth driven by fiscal policies adopted to keep manufacturing facilities afloat during COVID-19.
Other driving factors include resource optimisation, cost reduction in production operations, increased demand for industrial robotics, rising demand for technologies, and the growing significance of energy efficiency.
Key players in the industry: Emerson Electric Co., General Electric, Rockwell Automation, Inc., Schneider Electric SE, ABB Ltd., Siemens AG, Mitsubishi Electric Corp., Honeywell International Inc., Endress+Hauser AG, and Yokogawa Electric Corp.
Artificial Intelligence (AI) in Manufacturing Market
“It is undeniable that the manufacturing industry is at the forefront of artificial intelligence implementation,” says . “Manufacturers are using AI-powered analytics to increase performance, product quality, and employee protection, from substantial reductions in unplanned downtime to better crafted goods.”