表紙
市場調查報告書

食品機器人的全球市場:未來預測 (2019∼2028年)

Global Food Robotics Market Forecast 2019-2028

出版商 Inkwood Research 商品編碼 941827
出版日期 內容資訊 英文 166 Pages
商品交期: 2-3個工作天內
價格
食品機器人的全球市場:未來預測 (2019∼2028年) Global Food Robotics Market Forecast 2019-2028
出版日期: 2020年06月15日內容資訊: 英文 166 Pages
簡介

全球食品機器人市場今後 (2019∼2028年)估算將以15.01%的年複合成長率成長。

本報告提供全球食品工業機器人的市場相關分析,市場基本結構和主要的促進、阻礙因素,市場規模趨勢預測 (過去3年、今後9年份),酬載、各類型、各用途及各地區詳細趨勢,市場競爭趨勢,主要企業的簡介 (企業概要,主要產品/服務,事業策略及其他) 等相關調查。

目錄

第1章 調查範圍、手法

第2章 摘要整理

第3章 市場動態

  • 母體市場分析:食品、飲料產業
  • 市場定義
  • 主要的推動市場要素
    • 加工食品需求的劇增
    • 食品安全相關嚴格的法規
    • 人事費用高
  • 主要的阻礙市場要素
    • 技術純熟勞工的不足
    • 高額的初期投資
    • 離職的威脅

第4章 主要分析

  • 主要的投資的考察
  • 波特的五力分析
  • 市場機會矩陣
  • 業者情勢
  • 價值鏈分析

第5章 各酬載的市場

  • 低負載容量
  • 中負載容量
  • 高負載容量

第6章 各種類的市場

  • 多關節機器人
  • 直角坐標機器人
  • 水平多關節機械手臂 (水平多關節機器人)
  • 並聯機器人
  • 圓柱座標式機器人
  • 協動機器人
  • 其他

第7章 各用途的市場

  • 疊棧
  • 包裝
  • 再包裝
  • 取放
  • 處理
  • 其他

第8章 地區分析

  • 北美
    • 美國
    • 加拿大
  • 歐洲
    • 英國
    • 德國
    • 法國
    • 義大利
    • 俄羅斯
    • 比利時
    • 波蘭
    • 其他歐洲各國
  • 亞太地區
    • 中國
    • 日本
    • 印度
    • 韓國
    • 印尼
    • 泰國
    • 越南
    • 澳洲和紐西蘭
    • 其他的亞太地區各國
  • 其他的國家 (RoW)
    • 南美
    • 中東、非洲

第9章 企業簡介

  • ABB LTD. (ABB ROBOTICS)
  • FANUC
  • 川崎重工業
  • KUKA ROBOTICS CORPORATION
  • 三菱電機
  • Seiko Epson
  • UNIVERSAL ROBOTS A/S
  • 安川電機
  • ROCKWELL AUTOMATION INC
  • STAUBLI INTERNATIONAL AG
  • MAYEKAWA MFG. CO.
  • BASTIAN SOLUTIONS INC
  • FLEXICELL INC
  • ROBERT BOSCH GMBH
  • PRECISE AUTOMATION INC
目錄
Product Code: 32057

KEY FINDINGS

The global food robotics market is evaluated to grow at a CAGR of 15.01% during the projected period of 2019-2028. The surging demand for packaged food, strict rules and regulations on food safety, and high cost of labor are the factors fueling the global market growth.

MARKET INSIGHTS

The food and beverage market is exhibiting a robust growth rate worldwide, leading to an increase in demand for enhanced and rapid productivity. This has resulted in rising demand for robots with low cost and high output rates. Moreover, several government regulations pertaining to maintaining cleanliness in the food industry boost the demand for the use of robots. The lack of skilled workforce constraints the efficient management of robotics and automation in the food industry. Brand identity is expected to play a crucial role. The buyers favor known brands as the brand is considered synonymous with accomplishment. Firms rely on innovation or cost differentiation to differentiate themselves from their rivals. Articulated type captured the largest revenue share in 2019, which is expected to continue throughout the forecast period. Articulated robots have the ability to improve the productivity of the operation through enhanced speed and accuracy, thereby improving the quality of the products.

REGIONAL INSIGHTS

The global food robotics market growth is further studied on the basis of geographical segmentation of the region into North America, Europe, Asia Pacific, and the Rest of the World. The region of Asia Pacific is predicted to register the highest CAGR during the forecast period, due to the abundance of cheap labor and enhanced technology.

COMPETITIVE INSIGHTS

Firms from the adjoining market will continue to enter the market, majorly due to the potential of the market. Some of the players participating in the moderate competitive rivalry are ABB Ltd, Kawasaki Heavy Industries Limited, Universal Robots A/S, Staubli International AG, and Robert BOSCH GmbH, etc.

Our report offerings include:

  • Explore key findings of the overall market
  • Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
  • Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
  • Market Segmentation cater to a thorough assessment of key segments with their market estimations
  • Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
  • Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
  • Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
  • Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments

TABLE OF CONTENTS

1. RESEARCH SCOPE & METHODOLOGY

  • 1.1. STUDY OBJECTIVES
  • 1.2. SCOPE OF STUDY
  • 1.3. METHODOLOGY
  • 1.4. ASSUMPTIONS & LIMITATIONS

2. EXECUTIVE SUMMARY

  • 2.1. MARKET SIZE & ESTIMATES
  • 2.2. MARKET OVERVIEW

3. MARKET DYNAMICS

  • 3.1. PARENT MARKET ANALYSIS: FOOD & BEVERAGE INDUSTRY
  • 3.2. MARKET DEFINITION
  • 3.3. KEY DRIVERS
    • 3.3.1. SURGING DEMAND FOR PACKAGED FOOD
    • 3.3.2. STRINGENT RULES AND REGULATIONS ON FOOD SAFETY
    • 3.3.3. HIGH COST OF LABOR
  • 3.4. KEY RESTRAINTS
    • 3.4.1. LACK OF SKILLED PERSONNEL
    • 3.4.2. HIGH INITIAL INVESTMENT
    • 3.4.3. THREAT OF JOB LOSS

4. KEY ANALYTICS

  • 4.1. KEY INVESTMENT INSIGHTS
  • 4.2. PORTER'S FIVE FORCE ANALYSIS
    • 4.2.1. BUYER POWER
    • 4.2.2. SUPPLIER POWER
    • 4.2.3. SUBSTITUTION
    • 4.2.4. NEW ENTRANTS
    • 4.2.5. INDUSTRY RIVALRY
  • 4.3. OPPORTUNITY MATRIX
  • 4.4. VENDOR LANDSCAPE
  • 4.5. VALUE CHAIN ANALYSIS

5. MARKET BY PAYLOAD

  • 5.1. LOW
  • 5.2. MEDIUM
  • 5.3. HIGH

6. MARKET BY TYPE

  • 6.1. ARTICULATED
  • 6.2. CARTESIAN
  • 6.3. SCARA
  • 6.4. PARALLEL
  • 6.5. CYLINDRICAL
  • 6.6. COLLABORATIVE
  • 6.7. OTHERS

7. MARKET BY APPLICATION

  • 7.1. PALLETIZING
  • 7.2. PACKAGING
  • 7.3. REPACKAGING
  • 7.4. PICK & PLACE
  • 7.5. PROCESSING
  • 7.6. OTHERS

8. GEOGRAPHICAL ANALYSIS

  • 8.1. NORTH AMERICA
    • 8.1.1. UNITED STATES
    • 8.1.2. CANADA
  • 8.2. EUROPE
    • 8.2.1. UNITED KINGDOM
    • 8.2.2. GERMANY
    • 8.2.3. FRANCE
    • 8.2.4. ITALY
    • 8.2.5. RUSSIA
    • 8.2.6. BELGIUM
    • 8.2.7. POLAND
    • 8.2.8. REST OF EUROPE
  • 8.3. ASIA PACIFIC
    • 8.3.1. CHINA
    • 8.3.2. JAPAN
    • 8.3.3. INDIA
    • 8.3.4. SOUTH KOREA
    • 8.3.5. INDONESIA
    • 8.3.6. THAILAND
    • 8.3.7. VIETNAM
    • 8.3.8. AUSTRALIA & NEW ZEALAND
    • 8.3.9. REST OF ASIA PACIFIC
  • 8.4. REST OF WORLD
    • 8.4.1. LATIN AMERICA
    • 8.4.2. MIDDLE EAST & AFRICA

9. COMPANY PROFILES

  • 9.1. ABB LTD. (ABB ROBOTICS)
  • 9.2. FANUC CORPORATION
  • 9.3. KAWASAKI HEAVY INDUSTRIES LTD
  • 9.4. KUKA ROBOTICS CORPORATION
  • 9.5. MITSUBISHI ELECTRIC CORPORATION
  • 9.6. SEIKO EPSON CORPORATION
  • 9.7. UNIVERSAL ROBOTS A/S
  • 9.8. YASKAWA ELECTRIC CORPORATION
  • 9.9. ROCKWELL AUTOMATION INC
  • 9.10. STAUBLI INTERNATIONAL AG
  • 9.11. MAYEKAWA MFG. CO. LTD
  • 9.12. BASTIAN SOLUTIONS INC
  • 9.13. FLEXICELL INC
  • 9.14. ROBERT BOSCH GMBH
  • 9.15. PRECISE AUTOMATION INC

LIST OF TABLES

  • TABLE 1: MARKET SNAPSHOT - FOOD ROBOTICS
  • TABLE 2: GLOBAL FOOD ROBOTICS MARKET, BY PAYLOAD, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 3: GLOBAL FOOD ROBOTICS MARKET, BY PAYLOAD, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 4: GLOBAL LOW MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 5: GLOBAL LOW MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 6: GLOBAL MEDIUM MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 7: GLOBAL MEDIUM MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 8: GLOBAL HIGH MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 9: GLOBAL HIGH MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 10: GLOBAL FOOD ROBOTICS MARKET, BY TYPE, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 11: GLOBAL FOOD ROBOTICS MARKET, BY TYPE, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 12: GLOBAL ARTICULATED MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 13: GLOBAL ARTICULATED MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 14: GLOBAL CARTESIAN MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 15: GLOBAL CARTESIAN MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 16: GLOBAL SCARA MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 17: GLOBAL SCARA MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 18: GLOBAL PARALLEL MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 19: GLOBAL PARALLEL MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 20: GLOBAL CYLINDRICAL MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 21: GLOBAL CYLINDRICAL MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 22: GLOBAL COLLABORATIVE MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 23: GLOBAL COLLABORATIVE MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 24: GLOBAL OTHERS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 25: GLOBAL OTHERS MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 26: GLOBAL FOOD ROBOTICS MARKET, BY APPLICATION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 27: GLOBAL FOOD ROBOTICS MARKET, BY APPLICATION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 28: GLOBAL PALLETIZING MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 29: GLOBAL PALLETIZING MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 30: GLOBAL PACKAGING MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 31: GLOBAL PACKAGING MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 32: GLOBAL REPACKAGING MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 33: GLOBAL REPACKAGING MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 34: GLOBAL PICK & PLACE MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 35: GLOBAL PICK & PLACE MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 36: GLOBAL PROCESSING MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 37: GLOBAL PROCESSING MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 38: GLOBAL OTHERS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 39: GLOBAL OTHERS MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 40: GLOBAL FOOD ROBOTICS MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 41: GLOBAL FOOD ROBOTICS MARKET, BY GEOGRAPHY, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 42: NORTH AMERICA FOOD ROBOTICS MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 43: NORTH AMERICA FOOD ROBOTICS MARKET, BY COUNTRY, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 44: EUROPE FOOD ROBOTICS MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 45: EUROPE FOOD ROBOTICS MARKET, BY COUNTRY, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 46: ASIA PACIFIC FOOD ROBOTICS MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 47: ASIA PACIFIC FOOD ROBOTICS MARKET, BY COUNTRY, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 48: REST OF WORLD FOOD ROBOTICS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 49: REST OF WORLD FOOD ROBOTICS MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

LIST OF FIGURES

LIST OF TABLES

  • TABLE 1: MARKET SNAPSHOT - FOOD ROBOTICS
  • TABLE 2: GLOBAL FOOD ROBOTICS MARKET, BY PAYLOAD, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 3: GLOBAL FOOD ROBOTICS MARKET, BY PAYLOAD, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 4: GLOBAL LOW MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 5: GLOBAL LOW MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 6: GLOBAL MEDIUM MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 7: GLOBAL MEDIUM MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 8: GLOBAL HIGH MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 9: GLOBAL HIGH MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 10: GLOBAL FOOD ROBOTICS MARKET, BY TYPE, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 11: GLOBAL FOOD ROBOTICS MARKET, BY TYPE, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 12: GLOBAL ARTICULATED MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 13: GLOBAL ARTICULATED MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 14: GLOBAL CARTESIAN MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 15: GLOBAL CARTESIAN MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 16: GLOBAL SCARA MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 17: GLOBAL SCARA MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 18: GLOBAL PARALLEL MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 19: GLOBAL PARALLEL MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 20: GLOBAL CYLINDRICAL MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 21: GLOBAL CYLINDRICAL MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 22: GLOBAL COLLABORATIVE MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 23: GLOBAL COLLABORATIVE MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 24: GLOBAL OTHERS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 25: GLOBAL OTHERS MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 26: GLOBAL FOOD ROBOTICS MARKET, BY APPLICATION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 27: GLOBAL FOOD ROBOTICS MARKET, BY APPLICATION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 28: GLOBAL PALLETIZING MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 29: GLOBAL PALLETIZING MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 30: GLOBAL PACKAGING MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 31: GLOBAL PACKAGING MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 32: GLOBAL REPACKAGING MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 33: GLOBAL REPACKAGING MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 34: GLOBAL PICK & PLACE MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 35: GLOBAL PICK & PLACE MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 36: GLOBAL PROCESSING MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 37: GLOBAL PROCESSING MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 38: GLOBAL OTHERS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 39: GLOBAL OTHERS MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 40: GLOBAL FOOD ROBOTICS MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 41: GLOBAL FOOD ROBOTICS MARKET, BY GEOGRAPHY, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 42: NORTH AMERICA FOOD ROBOTICS MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 43: NORTH AMERICA FOOD ROBOTICS MARKET, BY COUNTRY, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 44: EUROPE FOOD ROBOTICS MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 45: EUROPE FOOD ROBOTICS MARKET, BY COUNTRY, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 46: ASIA PACIFIC FOOD ROBOTICS MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 47: ASIA PACIFIC FOOD ROBOTICS MARKET, BY COUNTRY, FORECAST YEARS, 2019-2028 (IN $ MILLION)
  • TABLE 48: REST OF WORLD FOOD ROBOTICS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
  • TABLE 49: REST OF WORLD FOOD ROBOTICS MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)